Originally posted by vetran
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'I own 75 buy-to-let properties but I haven't deprived other buyers'
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I still think that most BTL investors will weather the storm and cope with slimmer margins and constant occupancy, mainly because most of them got into it as a long term investment/pension, not as a rental profiteering game. As long as the rent is still paying for the house, they'll not force the issue and risk vacancies.The greatest trick the devil ever pulled was convincing the world that he didn't existComment
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Originally posted by LondonManc View PostI still think that most BTL investors will weather the storm and cope with slimmer margins and constant occupancy, mainly because most of them got into it as a long term investment/pension, not as a rental profiteering game. As long as the rent is still paying for the house, they'll not force the issue and risk vacancies.Always forgive your enemies; nothing annoys them so much.Comment
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Originally posted by vetran View PostI hope you are right, though many may have done their calculations under the old regime and are too close to the edge.The greatest trick the devil ever pulled was convincing the world that he didn't existComment
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Originally posted by AtW View Post
Rental income totals £330,000 per year. The cost of mortgage interest is £80,000 with maintenance, insurance and other expenses coming in at £100,000 to £120,000.
That gives a taxable annual profit of between £130,000 and £150,000.
His tax bill today is around £50,000. When the new taxes are fully applied he will pay an extra 32pc in tax, with his bill rising to almost £70,000.
He would then be paying a tax rate of 44pc. "
75 fooking properties, how is that sensible to do without wrapping them into Ltd?
Ah, that's because banks won't give lend to Ltds...Comment
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Originally posted by LondonManc View PostIf I had any BTL properties, I'd suck it up. I see property as long game.
Its a moral outrage that young people are denied house buying opportunities. But they don't vote. They just whine on social media. So f**k em.Comment
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Originally posted by BrilloPad View Post
Its a moral outrage that young people are denied house buying opportunities. But they don't vote. They just whine on social media. So f**k em.Comment
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Originally posted by DimPrawn View Post^ This. Make money, help your own family. Fook the whining selfie-stick holding iCrap generation. We are replacing them with useful immigrants anywayComment
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Originally posted by BrilloPad View PostThose immigrants are far more likely to wipe my 4rse when I get into an old peoples home. And cheaper. Thank god the young ones are stupid.
The staple of the Instagram, @rsebook generation. Rent fodder for life.Comment
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Originally posted by yasockie View PostSo what's preventing him from selling the non-mortgaged portion of his empire to his own Ltd Co, possibly at a high price (to ensure that when property price do go up in the future ha can sell them back without an apparent CGT taxable profit)?
1) he'll have to pay CGT on any capital appreciate he had
2) Ltd will have to pay stamp duty on full market value
3) where will newly formed Ltd find £ 6 mln to pay for property? Nobody will lend it that money
IMHOComment
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