Buy to let properties, sell or keep?

[unlacedgecko]

2 properties bought in 2002 paid off now, no ltd company, would be a lot of cgt to pay

And the rest of the questions? What's their annual rental yield as a percentage of capital invested?

 

[Bossfarmer]

If you did sell buy to lets what would you do with the cash to get a similar return?

youd think a high interest savings account would be a good idea given all the interest rate rises but my isas earning me very little

 

[Bossfarmer]

Unless you need the money, I’d hold them. All the stuff about epc bands will be dropped as it’s unworkable. The rent cap is the biggest issue in Scotland, again I suspect this will go once the greens are purged from SG.

will they be purged though?

 

[Bossfarmer]

And the rest of the questions? What's their annual rental yield as a percentage of capital invested?

very good on the initial money invested but around 8% on current property value

 

[unlacedgecko]

very good on the initial money invested but around 8% on current property value

Operating costs?

 

[Bossfarmer]

Operating costs?

thats factored in i do most the maintenance myself

 

[serf]

If they are paid for I wouldn't be selling in a potential falling market ( unless you market them "to sell") think that boat has sailed for the minute till the next uptick ,

Be more worried about getting the rent money as people struggle and plenty seem to see paying the rent as non essential and play the "eviction game " for 18 months and move onto the next and repeat ....

 

[unlacedgecko]

thats factored in i do most the maintenance myself

So it's free?

You're some fella. You must have 30hr days and 8 day weeks to achieve everything you claim.

 

[toquark]

very good on the initial money invested but around 8% on current property value

Difficult to see how you’d beat that elsewhere tbh.

 

[Bossfarmer]

So it's free?

You're some fella. You must have 30hr days and 8 day weeks to achieve everything you claim.

ive not had to go near them much lately tbf

 

[serf]

So it's free?

You're some fella. You must have 30hr days and 8 day weeks to achieve everything you claim.

You need to get up in the morning sum on ya !.....

 

[Aspiring Peasants]

My wife is about to sell hers for those reasons.

I hear there’s a trend to change BTLs into holiday cottages, different regs presumably. Up until recently we had a holiday cottage and I don’t think it needed an EPC

 

[Hooby Farmer]

2 properties bought in 2002 paid off now, no ltd company, would be a lot of cgt to pay

My dad was the one who started buying houses. A few of them were bought cheap and a few were bought too dear. He liked to buy and hold, where I found it better if we kept turning them over. I've only bought a couple and blew them off again and reinvested in other things. You're nailed with CGT and I was caught with Inheritance tax as well and that wipes 1 1/2 houses or more out immediately. I've never made any money in BTL only in the value of the house increasing. Property looks good on paper, inflation makes it look class and that's only beneficial when you go to the bank if you need money, then the banks nail you currently with a eye watering interest rate. Also plenty of money has been lost in in property. I've seen property bought at a million and sold for 400k as the banks got cold feet and gave us 6 weeks its not all sunshine.
My go personal go to now is something high value, low fixed assets with lots of cash coming in and out eg. Insurance company. Other end would be private healthcare, chemist shop or nursing home.

 

[rusty]

Nah bugger all because the border was closed, picking up again now, although it works the other way too, plenty of Kiwis shift to Australia.
Massive shortage of houses though apparently.
I think rising interest rates are bound to slow the market.
UK is still flat-out building aren't they?

I was recently in New Zealand and was told the population went up at the beginning of Covid as a lot of people ‘came home’. Going the other way now as they go abroad working and travel.

 

[suffolksmallholder]

I do know that the sell, sell, sell attitude in London is having catastrophic effects on ordinary working people. This will only get worse in the short term.

The HMO’s in the properties that I look after have all had an eleven percent rise making the average £450 per room up to £500 pcm The massive increase in the cost of heating is a major factor.

Getting a ‘share-code’ to be able to rent a room is not so easy as is getting proper employment. Catch 22.

From observations and chatting to builders ‘renovating’ properties be they large or small, the idea of dividing up a building is still top of the list plus of course bringing it up to the current insulation and fire regulations is high on the agenda. The bigger buildings having now to fit sprinkler systems and not just a fire alarm.
SS

 

[Highland Mule]

youd think a high interest savings account would be a good idea given all the interest rate rises but my isas earning me very little

You need to spend some of your spare time sorting out a better rate of return on your money. Work smarter, not harder.

What's likely to be the sale value of the properties? I'd be speaking to a tax accountant with a view to getting them cashed if it were me, and putting the money into a better than 8% returning, not demanding any of my time to maintain tax shelter. I'm not a fan of BTL, never have been.

 

[kiwi pom]

I was recently in New Zealand and was told the population went up at the beginning of Covid as a lot of people ‘came home’. Going the other way now as they go abroad working and travel.

True, you could get back if you could get a place in quarantine which many did because we were covid free for so long. Not too many imports though (which upset farmers and contractors) Kiwis tend to bugger off and see the world when they're young.

Media keeps saying there's a housing shortage but prices are dropping

 

[M-J-G]

whinging about less subsidy one minute then asking best way to manage their property portfolio the next, you couldn't make it up .

Careful, Boss has been known to start a thread that's opposed his own view in the past, and those who opposed him turned out to actually agree with his own personal view.

When the plot was revealed, a lot of people were very angry at being totally fooled.
I found the bias hilarious.

 

[lloyd]

So it's free?

You're some fella. You must have 30hr days and 8 day weeks to achieve everything you claim.

He must be the real Slim Shady the rest of you are just imitating.

 

[Cowcorn]

He sort of keeps telling us " where there's muck there's money "

God help the tenants ...keeping the Boss paid would be like trying to feed a crocodile !!