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    • TallGirl
    • By TallGirl 16th Sep 16, 3:46 PM
    • 4,233Posts
    • 8,780Thanks
    The trials & tribulations of a 1st time landlord & investor
    • #1
    • 16th Sep 16, 3:46 PM
    The trials & tribulations of a 1st time landlord & investor 16th Sep 16 at 3:46 PM
    Dear all
    I've been around a long time on this MFW for a long time and I love it. Keeps me on track and helped me pay off my mortgage 9 years early. I'm on the verge on starting something new so I thought I would start a new diary and focus it more on money saving and less on personal stuff. My life was quite steady and stable until April 2015 when I left my husband and took a one year job in London all made easier and more ore possible because I was mortgage free.

    My job ended in July 2016 and I had hoped to stay within the organisation in a new job but I didn't get it and they didn't recruit anyone else. I am a great believer in that things will happen for the right reason and good things come to good people. Whilst on holiday and on my birthday I was told my ex had died and as we were still married I now owned the whole house plus his pensions and share in the small family business.

    I applied for a new job whilst on holiday and I start that Monday its 28 hours a week with Friday's off and it's obviously on less month than my previous full time one.

    I have been busy in the last two months sorting the house out so I can rent I out from October which will give me an income as well.

    I have been trying to get his affairs in order so I can apply for probate and I'm getting there. So good folks if you want to read about the following kinds of topics then please feel free to read and or comment:
    • How to be an accidental landlord
    • How to go about getting probate and IHT sorted
    • How to invest an inheritance
    • How to keep accounts as a landlord
    • How to save money on everyday things whilst living in London

    There will be more and I often stray into personal totally unrelated money stuff so just gloss over that if you find it boring.

    So here we are start of something new so a quick update on where we are with the above topics.

    1. Property should be ready after 27/9 as carpets going down then. Estate agent doesn't want to market it before it's completely ready. Once painter is done need to arrange final clean and my old cleaner to hang curtains.

    2. My accountant friend has suggested the valuation of the family business is ok to use and my new IFA confirmed the two pensions are outside inheritance tax so I should be able to more forward on this very soon.

    3. Meeting the IFA 30/9 potential inheritance will be around £190k will need to pay funeral expenses but want to invest most of it.

    4. I need to read up on how to keep accounts as a landlord not sure I need an accountant but as I'm now a part business owner I might have too. Will definitely register with Inland Revenue but as house isn't rent out yet nothing has changed.

    5. Finally I love saving money from getting the best deal to using coupons and tokens. I'm very good but can also be very bad. It's expensive to live in London but I'm a property guardian so my rent is so so cheap so I should really save lots of money. I promise I'll do a budget once I get my new wages, I would rather live on this than have to use my income from my property but might be difficult .

    Ok I will end there and try and keep on the straight and narrow in terms of sticking with money saving stuff.
    Last edited by TallGirl; 17-06-2017 at 10:25 AM.
    Save £12k in 17 no 93 £11750/£12k Pay off wasted money £1637£10k
Page 23
    • TallGirl
    • By TallGirl 13th Feb 18, 8:05 PM
    • 4,233 Posts
    • 8,780 Thanks
    It is freezing indeed but today has been a fab day actually. Sorted my stats out which had a very short deadline and got praise from the boss so really good. My team are mostly on leave so quiet in the office which helps.

    Got off the train decided to go to next bus stop as a while until bus they were handing out Timeout but this time you got s bag with a full size tub of the new magnum with the chocolate cover you crack. Never been given such a nice freebie sadly cannot eat it don!!!8217;t want to ruin the diet and we have been off sugar so long it really spikes if I eat it now. Still it!!!8217;s in the freezer.

    Got home did 12 min abs together in the front room as per PT sheet given at camp felt good and will do again maybe even after run or a bit longer next time. Free no gym.

    Bath done, lunch prepped for tomorrow and snack and dinner sorted so quick to cook when we get in. Chilling on the bed dg in the bath. She!!!8217;s got an interview for a job really near my work with a firm we work with now that would be nice.

    In money news chased RateSetter for my £100 bonus which is due now and claimed the £100 refer a friend from nationwide as my switch has been done. Dg gets £100 too which is nice should pay out soon must log into nationwide so I can see my account.

    That!!!8217;s it I think
    Save £12k in 17 no 93 £11750/£12k Pay off wasted money £1637£10k
    • TallGirl
    • By TallGirl 15th Feb 18, 8:44 PM
    • 4,233 Posts
    • 8,780 Thanks
    No running today or yesterday needed break I think will do tomorrow. Dg had job interview near me it was really short but they liked her, we would be working a mile from each other. It!!!8217;s the area of law she wants to get out of kind of but it!!!8217;s more money and they do do other things so a major interest I got now. The job she went for at the end of November still hasn!!!8217;t come back to her as they were interviewing more people but now the agent has gone quiet so rubbish when you have been for an interview. I think this one will suit her better as I kind of know them through work plus it would actually help me.

    Bought two mats to do gym work on £28 and some salad stuff so we could have a wrap tonight and one for lunch tomorrow. I!!!8217;ve got my hair cut tomorrow and then it!!!8217;s definitely run time. Chilling out before bed maybe some telly in a bit.
    Save £12k in 17 no 93 £11750/£12k Pay off wasted money £1637£10k
    • TallGirl
    • By TallGirl 16th Feb 18, 10:56 PM
    • 4,233 Posts
    • 8,780 Thanks
    Weekend is here had my hair cut £57 and that was with 25% off but I like it and it!!!8217;s worth it. No highlights needed at the moment.

    Dg has already got a previsional job offer from the interview yesterday. I!!!8217;m pleased but it!!!8217;s only £1K more than she!!!8217;s on now and we don!!!8217;t have a lot of detail. I think she needs to negotiate more and think if she really wants it. Of course it would work well in my favour if she got it and we could do lunch together which would be fab actually. Let!!!8217;s see what happens if it!!!8217;s min holiday she needs more money for sure.

    Went for a run when I got back and had healthy small dinner. We like cauliflower rice but it!!!8217;s a faff to make and cauliflower goes off quickly. Tried Iceland!!!8217;s frozen cauliflower rice they are great 50p a bag covers two of us so good for convenience.

    Had hot chocolate and also ate a chocolate at the hair dressers plus two biscuits. Worst I!!!8217;ve been since bootcamp. Had to wear a belt today wish I hadn!!!8217;t put all my smaller trousers in the loft at my other house will be a while before I get them out.

    Opened my next First Direct regular savers account 5% but of course not £300 a month but still good. So easy doing it online like it.

    I must log into Nationwide and get that looked at should be fine but needs to chase estate agent that he!!!8217;s had my change of bank details.

    Dg is on the phone to her mum I!!!8217;m really tired. Night night soon I think.
    Save £12k in 17 no 93 £11750/£12k Pay off wasted money £1637£10k
    • Tahlullah
    • By Tahlullah 17th Feb 18, 10:40 AM
    • 847 Posts
    • 4,811 Thanks
    Congratulations to DG on the job offer!!

    Striving to be mortgage free.
    2018 MFW #135

    £300 of £2000
    • TallGirl
    • By TallGirl 18th Feb 18, 5:56 PM
    • 4,233 Posts
    • 8,780 Thanks
    Thank you she!!!8217;s about to provisionally accept it If she can keep her holiday entitlement and get a bit more in wages. We shall see if they take it.

    Lovely weekend Golf yesterday and today and played 18 which was so good my game is coming together I can play with the ladies again if only dg had a handicap.

    Made bolognaise sauce boxed up so there is enough for lunch next day we still keep portions small but prefer hot lunches at the moment.

    Pictures tomorrow so no running which isn!!!8217;t ideal but it!!!8217;s our third anniversary and we!!!8217;re seeing 50 shades it!!!8217;s a tradition obviously can!!!8217;t used two for one which is a pain but it!!!8217;s a one off and better to go on the actual day.

    Going to sort my new Nationwide bank account out and open the regular saver needs to be done and shouldn!!!8217;t be too bad I hope got everything I think.

    Dg made some smoothie really nice better than the Diet Pepsi she used to drink.
    Save £12k in 17 no 93 £11750/£12k Pay off wasted money £1637£10k
    • vandanfc
    • By vandanfc 18th Feb 18, 8:33 PM
    • 1,824 Posts
    • 5,105 Thanks
    Congrats. to DG on her job offer,I hope it all works out for her.
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