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  • FIRST POST
    • TallGirl
    • By TallGirl 16th Sep 16, 3:46 PM
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    TallGirl
    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
    £7750/£12k
    Pay off wasted money £1465/£10k updated Sep 17
Page 7
    • TallGirl
    • By TallGirl 22nd Feb 17, 8:21 PM
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    TallGirl
    Thanks Bugslet much appreciated yes he was an ex but did take up space and sometimes still do.

    I'm very much aiming for early retirement or at least a cut in hours when we move back down South. Life is just too short one of my members of staff have just been diagnosed with lymphoma same as my neighbours husband. So sad this one isn't as young but makes you think though.

    My manager thought I was early forties so quite surprised when it said 46 he thought 42 I'm quite happy with that.

    DG just caught me writing on this might have to give it up I don't think it's a good idea if she reads it but I do like having a diary.
    Save £12k in 17 no 93
    £7750/£12k
    Pay off wasted money £1465/£10k updated Sep 17
    • TallGirl
    • By TallGirl 24th Feb 17, 11:25 AM
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    TallGirl
    Total chill far on my day off need to clean as DG mother is coming tonight so scary but lots of plans so should be a nice time.

    Really enjoyed the comedy night yesterday even if Doris messed up e trains I got to see my friend from down South and DG made it in time too. She's got an interview today I would like her to get it but she's only been one year in her previous job so there's no rush to leave. However they extended her probation and didn't bother giving her a new date she's been there a year next month. That's so rubbish.

    Need to chill at bit today I feel but also get everything ready. Might not make gym but going for last PT Monday so will miss a week unless we go to new gym which starts tomorrow. Look forward to new gym.

    Take care all stay safe.
    Save £12k in 17 no 93
    £7750/£12k
    Pay off wasted money £1465/£10k updated Sep 17
    • TallGirl
    • By TallGirl 1st Mar 17, 2:00 PM
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    TallGirl
    Eye op done I can see fantastically with one eye less so with the other but it's meant that way so I can use it for close up and then I won't need reading glasses for years. I should get used to it and it might also improve still. Really pleased really happy I did it and most happy I'm able to play golf at the weekend didn't think I was but he gave me the all clear.

    Been looking to sell some gold rings my mum gave me to have melted down for something for my sister and I. It's so expensive to have it melted so suggested to sister we just sell it and split it. Or I ad my wedding rings and we could by a piece of jewellery each for the total of £480. See what she says she's buying a horse right now plus lots of expenses with my nephews confirmation and her hubbys 50th in October.

    Total chill out today not done a lot other than attend checkup. Might have kip now cinema tonight Hidden Figures two for one with Meercats.

    Doesn't look like DG got the job she interviewed for on Friday shame but plenty of others and at least she's getting interviews.
    Save £12k in 17 no 93
    £7750/£12k
    Pay off wasted money £1465/£10k updated Sep 17
    • TallGirl
    • By TallGirl 2nd Mar 17, 9:34 PM
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    TallGirl
    2x£25 win on the premium bond this month. Next month I'll have another £40k in DG name and she will have £5k herself.

    Golf weekend this weekend can't wait so fed up with work just got getting it chat with CEO today more along you need to pass probation etc which I think I will but they might extend it I wouldn't be surprised. Need to win big tender but that I'm on top of.

    Can't wait to see my four golfing mates I know DG will get on with them fine so should be a lovely but knackering weekend. Not long to Cape Verde that is cool too as the weather in Cornwall will be pants no doublt.

    Tired and very tired eyes tonight same yesterday but did enjoy Hidden Figures at the pictures it's worth seeing. Found a kebab shop that's nice close to here cheap as well so happy days there.
    Save £12k in 17 no 93
    £7750/£12k
    Pay off wasted money £1465/£10k updated Sep 17
    • bugslet
    • By bugslet 8th Mar 17, 11:15 AM
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    bugslet
    Glad to hear the eye op went well.

    I think that probation of around 3 months is quite enough to suss someone out, why companies need more is a mystery to me. We usually can work out if people are going to fit in with us or not with a month. Not that many leave and create vacancies.

    You are frugal, I'd seriously consider retiring or semi-retirement at some point. I'm 53 this year and told my main customer that I have a three year limit now on working - though I do keep weighing up if I could finish earlier. Life really is too short.
    • TallGirl
    • By TallGirl 9th Mar 17, 9:26 PM
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    TallGirl
    Thanks Bugslet good for you to retire early I think of poor ex Dh he never made it to retirement I don't want to do that.

    Golfing trip was fab DG got on with everyone and we got two rounds on wet wild and windy with hail but that's Cornwall. Food was stunning too many afternoon teas but now it's so close to Cape Verde it's not worth even trying to be good.

    Eyes still ok drops four times a day so not too bad. Really really tired and we both have a cold so not much fun here. Early night needed.
    Save £12k in 17 no 93
    £7750/£12k
    Pay off wasted money £1465/£10k updated Sep 17
    • TallGirl
    • By TallGirl 12th Mar 17, 7:30 AM
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    TallGirl
    Still full of cold so is DG so chilled weekend getting packing done for early start Weds. DG got some clothes and I bought her some shorts (she doesn't own any). I also got two bargain tops all in Sainsbury's 960 extra points too plus £12 off £60 very happy with that.

    Forgot to buy eye drops will have to but to be honest I don't think I'll suffer with dry eyes it's just first thing in the morning and that could be all the drops I have to use antibuotics and anti inflamatories. Don't want to take any chances though.

    Letter from IFA my old works pension is being transferred and so it the one from last year so that's really good. All in one place plus my works one. DD's for all investments starts 10/4 so the large sum will start to dwindle in my account. I do want to find another home for some of it it's too tempting to see it sat there. Guess Atom Bank is out lol.

    Two days work left then Cape Verde can't wait fed up with this cold and feel so tired. Not been to the gym for two weeks and food choices not great at the moment. Not had a drink for a week though which is good at least.

    I think that is all for now DG is snoring beside me otherwise I wouldn't be posting next to her.
    Save £12k in 17 no 93
    £7750/£12k
    Pay off wasted money £1465/£10k updated Sep 17
    • TallGirl
    • By TallGirl 13th Mar 17, 4:39 PM
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    TallGirl
    Wow what an unexpected rollorcoaster day met my CEO for my probation review (6months) only to b told he is letting me go. Totally unexpected I know I hadn't cracked the role but didn't see this coming. Actually relived there wasn't really a role as the three services I looked after was running fine on their own. I tried to look upwards challenge the CEO level but obviously he didn't like this and to be honest I have hated the job for a while but learnt a lot and the people there are very nice.

    Given me one weeks notice and I have leave booked so two weeks so wednesday will be my last wages. I'm obviously financially ok and I know I'll get another job. Think I'll go with something temporary like a maternity cover and happy with part time. Seen one on guardian jobs and put a couple of emails out to contacts meeting a friend tomorrow who works for e money advice service I always felt I should end up there and maybe now is the right time.

    I definitely want to stay in advice preferably housing and money advice, welfare benefits is ok too but health wasn't great. I don't think it was me doing a bad job I really don't think there was a job to do for me. Well there would have been if CEO had let me but he kept being involved and his way of working with me was to dictate what needed doing not really letting me do my think so maybe I lost my confidence a bit. I think it's the right thing would never have been right too much of what they didn't didn't interest me one bit but what I learnt has been really useful.

    Will definitely complete my safeguarding training and I also want to do some refreshers on advice been out too long. Holiday first obviously time to thInk and take stock not apply for the first thing like last time unless it's temporary and I fancy it.

    Anyway DG on her way home not sure what's for dinner got nothing in so maybe go out think I need it.

    Might post a lot more on here comtemplating my next move it really helps me think but it might not be very money related. Finance wise I'll have to take stock but the house brings in £800 a month so that's a start.
    Save £12k in 17 no 93
    £7750/£12k
    Pay off wasted money £1465/£10k updated Sep 17
    • SuzieSue
    • By SuzieSue 13th Mar 17, 4:56 PM
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    SuzieSue
    Oh dear, what a shock for you. At least it has come at a time when you are financially secure, so it could be a lot worse.

    I am 51 this year and I would take the opportunity to take a break for a few months if I were you and then look for temporary contracts rather than permanent ones. I think you are a few years younger than me so I can understand if you want another permanent job.

    Definitely go out for a meal tonight.
    • SuzieSue
    • By SuzieSue 13th Mar 17, 5:24 PM
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    SuzieSue
    I also meant to say that |I think that your CEO probably felt threatened by you and that is why he decided to let you go. It happens all the time, but at least it should be easy for you to find another job with all your experience.
    • vandanfc
    • By vandanfc 14th Mar 17, 11:28 AM
    • 1,804 Posts
    • 4,796 Thanks
    vandanfc
    What a shock. At least you have a holiday coming up to ease the pain a bit. At least you can be more considered with your next employment and not need to rush to take up a new post. Maybe this is the push you need to make sure you end up in something you really enjoy doing. x
    • TallGirl
    • By TallGirl 14th Mar 17, 4:42 PM
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    • 8,579 Thanks
    TallGirl
    Thanks both of you so kind of you to share your thoughts. Yes he didn't like me staying things he didn't agree with or challenge his leadership style. Ok I won't do it again in the way I did but basically I think he panicked and let me go he certainly didn't check with HR or the two other service managers who will now share that workload. My friend was supportive today she's in the dream job I quite fancy been toying with for years but didn't get through first stage interviews about 4 1/2 year ago however my motivation wasn't right then anyway. She says they use temps and her manager is a lady I know quite well and I could email myself. They usually recruit via an agency so will definitely send them my cv once I get back from holiday.

    After lunch it's her I went into Covent Garden to that shinny temple that is Apply only to find everyone outside as store was shut due to gas leak. Had to leg it to Regent Street but nice young man sorted me out and I'm now the proud owner of an IPhone 7 with screen protector £25 and case £35 I've never owned the latest one but nice to cheer myself up.

    Not money saving but felt I needed it plus I've promised my sister mine and it's three years old so well paid for.

    That's it really DG isn't home yet early start tomorrow like 4am not sure it's worth going to sleep. Slept badly last night with her coughing etc.
    Save £12k in 17 no 93
    £7750/£12k
    Pay off wasted money £1465/£10k updated Sep 17
    • vandanfc
    • By vandanfc 14th Mar 17, 5:39 PM
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    vandanfc
    Happy new iPhone.

    Get that email sent, it will save them agency fees if they hire you directly.
    • TallGirl
    • By TallGirl 14th Mar 17, 6:56 PM
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    • 8,579 Thanks
    TallGirl
    Happy new iPhone.

    Get that email sent, it will save them agency fees if they hire you directly.
    Originally posted by vandanfc
    I know but it's not that simple my friend is going to mention it to her but needs to right timing. If she doesn't I'll email her when I get back not in the right frame of mind now. Also not 100% sure that work is for me the maternity cover is more hands on. Lots to think about and time to do it.

    DG just got in and gone back out in a total mood her battery on the vape broke so have to go back down and buy a new on and I didn't get her cream when I collected her perscription and faked her signature to collect it at the chemist. I didn't know this obviously I hope she calms down she was really rude and it wasn't my fault. She has been at work over 12 hrs today and had two cases in court. Beers soon I think.
    Save £12k in 17 no 93
    £7750/£12k
    Pay off wasted money £1465/£10k updated Sep 17
    • bugslet
    • By bugslet 23rd Mar 17, 2:39 PM
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    bugslet
    Sounds like she was stressed out - bad day and all that.

    Since the others have made good suggestions, I'll just add, is there anything you can do in terms of being self-employed and I mean properly self-employed, not working for someone else type of self-employment? I think like that because I work for myself, it might not be what you want, but thought it might give you something else to think about.

    Anyway, hope you are enjoying your holiday.
    • TallGirl
    • By TallGirl 24th Mar 17, 8:31 AM
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    TallGirl
    Thanks Bugslet nice of you to comment and only self employment I could do is be a consultant but I don't quite have the right connections and in my field it doesn't pay that well really.

    Had a great holiday weather disappointing but got a bit of a tan and swam in the sea and a salt mine swimming pool so cold. All inclusive was fab never eaten or drunk so much really good entertainment each nice usually dance show then the dancers would teach people in the beach bar afterwards a bit like dirty dancing very nice.

    Last day of leadership course yesterday really enjoyed it if a bit tired got so speak to loads and told them I'm looking for a job. You never know really. Booked GP appointment cold now lingered for four weeks so annoying it's 10.10 this morning I never go to the doctors but needs must it's gone to my sinuses.

    Also sorted my regular saver out not sure why the March payment didn't go out but it's sorted now. Long to do list today so though I would share it.

    Washing two loads left but lots of folding up to do too
    Download bank statement and send to IFA - not possible to do so emailed him and order paper one instead.
    Tidy up room - kind of
    Empty all bins - done
    Email prospective job they want cv, covering letter and competency based application seems a bit much! - done but no reply
    Email contact saying I'm looking
    Book online test for my degre certificate
    Change euros back didn't spend a lot on hols
    Sell my gold
    Write shopping list for Lidl for later - done

    I think that will do got free meal and cocktails tonight at favourite restaurant after we complained so should be nice night at least really cheap.

    Just updated list just had lunch got anti biotics from the GP have sinusitis really not nice but hopefully clear soon. He said sleep which is fine. Printer is so dead just can't get it to go online it's old and so is laptop. DG will print out application form and I've signed up for a trial for an HP printer it's a marketing review company I've used before you pay a deposit and write reviews it's for them then return it at the end and get deposit back or buy it at reduced cost. Hope I get selected would be fab.

    Going to chill for a bit might do a couple of email first though.
    Last edited by TallGirl; 24-03-2017 at 2:36 PM.
    Save £12k in 17 no 93
    £7750/£12k
    Pay off wasted money £1465/£10k updated Sep 17
    • TallGirl
    • By TallGirl 25th Mar 17, 9:53 AM
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    TallGirl
    Morning nice free evening at local restaurant due to previous complaint. Still a bit of a shambles but free and enjoyed the food and drink plus no hangover for me.

    Been thinking now I'm unemployed I need to work out what I'm going to be living on for the next few months. I got paid on the 15th so I'm fine until 15/4 then will need to dip into savings question is how much.

    I'm saving £1000 a month £700 from my rental income and £300 usually come out of my wages. I want to keep this up as the rates are good three are fixed savers and one is rate setter p2p so between them I get from 5% to 3%.

    I've got £99k waiting to be paid into ISA pension and investment this year at £5500 a month the pension will stop if I don't have a job as you cannot contribute otherwise.

    My normal bills come to £871 add £300 for fixed saving and then obovusly spending money and travel. Our joint account pays for food and petrol but if I go and visit my friends on my own it's fair I pay for a tank of petrol.

    My only income now is £88 every four weeks I could claim contribution based JSA which is now I think Univesal Credit £73.10 a week £316 a month but I'm 100% sure the £88 will be off set. I loose the £88 in August anyway.

    I'm not planing to have loads of time off but a lot has happened in the last two years and I think since I moved to London for work I've kind of lost sight of what I really want to do. I can spend my inheritance for a bit I feel and get the right job. I'm keen to apply for a maternity cover I have seen so will do that on Monday but also take some time out to rethink. I might join a local golf club and I want to visit friends in different parts of the country. DG isn't so keen on my being away a lot but last time I was unemployed I was clearing my house out 70 miles away.

    I'm going to stay hit my friend Friday to Saturday and play golf plus lunch on the Friday. I'll fit in another friend I think and also a haircut I so need it.

    I think that's enough waffle for now
    Save £12k in 17 no 93
    £7750/£12k
    Pay off wasted money £1465/£10k updated Sep 17
    • TallGirl
    • By TallGirl 26th Mar 17, 9:16 PM
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    TallGirl
    Lovely relaxing weekend played golf today nice in the sunshine short sleeves too. DG is getting a lot better golf wise. Booked car in for MOT, full service, aircon recharge at Kwikfit, Quidco cashback and easy place to get to.

    Ordered my mums birthday present at boots and treated myself to my face ream is £41 a tub but last well. £7 off and then an extra £5 for buying two. Will pick up tomorrow. Still got loads on to do list need to add more.

    Email contact so say I'm looking for a job
    Register for test for my professional association done
    Tidy up paper work sort out what is what into proper folders.
    Look into cost of bus pass versus pay as you go only need zone 2 at least. Done not worth it can use visa contactless
    Apply for jobs found two maternity covers.
    Make ryebread done
    Sell gold.
    Transfer money to my Danish account
    Check regular saver is set up finally. Done
    Sign up for safeguarding courses
    Phone Specsavers get £40 credit

    Unfortunate my trip away Friday clashes with a professional meeting I really wanted to go to should have checked my diary I'll make sure I don't do that for any of he other courses I'm booked on.

    Also registered for a course with open university about investments should be interesting. Also signed up to test a printer hope I get selected could really do with on so much easier. Mine died just as I had bought two new cartridges.

    DGs mum will buy our euros so that's really easy I've got £150 to come back to my account we only spent just over £150 in total on holiday mainly on trips and photos.

    That's about it won't be a late night tonight that's for sure.
    Last edited by TallGirl; 28-03-2017 at 8:43 AM. Reason: Update to do list
    Save £12k in 17 no 93
    £7750/£12k
    Pay off wasted money £1465/£10k updated Sep 17
    • bugslet
    • By bugslet 27th Mar 17, 1:20 PM
    • 5,430 Posts
    • 26,983 Thanks
    bugslet
    Is the OU course just a few weeks? If so, I've heard some good things about it. Would like to do it, but as I can't manage to fit everything i want to do in now, more is not the answer!

    Good luck with the job hunting.
    • TallGirl
    • By TallGirl 27th Mar 17, 4:54 PM
    • 4,140 Posts
    • 8,579 Thanks
    TallGirl
    Thanks Bugslet one is 6 weeks but you can do it at your own pace four hours a week the other is 4 weeks for 3 hours really interesting so far have done half a week already as I'm a bit behind started 20/3. Updated previous post with list need to add more.

    Going to the gym once DG gets back just been down to collect Boots order one more thing done.
    Last edited by TallGirl; 27-03-2017 at 4:57 PM.
    Save £12k in 17 no 93
    £7750/£12k
    Pay off wasted money £1465/£10k updated Sep 17
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