Reply to: SIPP & Commercial Property

[barrydidit]

I tried to steer it onto Brexit or IndyRef 2 first but there were no takers.

[TestMangler]

In a totally unexpected twist, a CUK thread went from SIPP & Commercial Property to blow jobs in less than two pages, it emerged earlier.......

[northernladuk]

And I hear NLYUK is expanding too. Is that commercial or private though?

That's too much protein.

[barrydidit]

And I hear NLYUK is expanding too.

It's all the sausage she eats.

[BrilloPad]

It might yet prove to be a smart move. Have you got your eye on all these English companies needing a European base to dodge all the EU tariffs and protectionism that's heading our way?

And I hear NLYUK is expanding too. Is that commercial or private though?

[barrydidit]

It might yet prove to be a smart move. Have you got your eye on all these English companies needing a European base to dodge all the EU tariffs and protectionism that's heading our way?

[TestMangler]

Just because any sane person would need to be paid to live up there it doesn't make your home a commercial property
HTH

I knew I should have put this in a professional forum, keep the flat capped plebs out

[AtW]

Has anyone on here actually used a SIPP to buy commercial property ? Anything to look out for (with the SIPP fees, not the property itself) or recommendations
??

You should ask the daddy (AKA MF) - he put £140k into Govt sanctioned ponzi scheme which he intends to put into SIPP and buy commercial property ...

[AtW]

We're talking miniscule amounts of money here, by Dimprawn standards.

That was below the belt...

Urban Dictionary: dim prawn

[northernladuk]

Just because any sane person would need to be paid to live up there it doesn't make your home a commercial property
HTH

[TestMangler]

Out of interest is this purely for financial speculation, or is the commercial property for your own business to use?

If the former, sounds a bit risky unless it only forms a small % of your investments, especially given global economy, brexit, Scottish referendum, etc.

Where I live is a bit of a micro economy of its own Hasn't changed much since 1960. Shops don't pull much in rent but they don't cost much either. There is one, for example, that I could buy for £14K which would pull £400 ish a month. For about £50-55K I could buy 4 of varying sizes.

They were bought, at way above market, by a 'gangsta' a few years ago, who paid double asking price and tried to rent at city centre prices in an island town. Have now all been repossessed.

[TestMangler]

I don't think a chip van counts as commercial property matey. Nice try though

The last thing I need is advice from a slum landlord

A local gangster went bust recently and owned several shops which are now for sale by the trustee. We're talking miniscule amounts of money here, by Dimprawn standards. Was more worried about fees sucking the life out of the whole thing. Started reading comparisons of fees on SIPPs which allow commercial property purchase but lost the will to live part way through. Currently have a HL SIPP so would need to move.

[barrydidit]

Has anyone on here actually used a SIPP to buy commercial property ?

Anything to look out for (with the SIPP fees, not the property itself) or recommendations ??

I don't think a chip van counts as commercial property matey. Nice try though

[BrilloPad]

In 2009 I invested £50k via a SIPP and got 1% of an office block. It was supposed to yield 5% a year for 5 years. And was sold for £6m in 2015. I was expecting £70k+ back - but ended up with ~60k. The fees had sucked up so much.

[DimPrawn]

Out of interest is this purely for financial speculation, or is the commercial property for your own business to use?

If the former, sounds a bit risky unless it only forms a small % of your investments, especially given global economy, brexit, Scottish referendum, etc.