Is my quote a good price?

Skiduck

missk_ensington wrote:

Skiduck - :rotfl: Got it in one! Well, in two.

Its survival of the fittest and I only make a lot of money from property when my costs are low. If Id spent £25,000 on renovations then £40,000 return isn't much for 6 months hard work. But when you've spent £8,000 for £40,000 profit it makes it all that more worthwhile!

I am not here to oversee or dictate how another utilises the money I have paid him for honest graft. Nor am I here to check the local news agent declares the money I spend on a paper in cash, or the local pub whether he decares to ££££'s cash every weekend that passes his bar, or whether the chip shop declared mt £3.50 on fish and chips.

but you don't make a "cash in hand" contract with your newsagent, pub etc. do you? I assume you don't moan when the job isn't done properly, there's a few snags or you don't get the correct paperwork?

I also assume, by all your ramblings about getting tradesmen to do it as cheap as possible for yourself etc, that it is only you that is allowed to make a profit. You are indeed a Rogue Householder - Tradesmen BEWARE!

missk_ensington

Oh well. I'm obviously a Rogue Householder then :rotfl: f course its only me thats to make a profit, why would I care if anyone else makes a profit! Business is Business!

So far I've never had any problems except one plumber who didn;t do the ballor fix valves, but what is cost me for someone else to come and do it still made it a few hundred pound cheaper.

Also, I rarely need people to come back because if the "job isn't done properly" not a penny piece changes hands! My decorator has been told he aint getting paid cos I'm not happy with his work cos he only did one coat on the lining paper and didn't rub anything down.

He has two choices- cuts his losses and doesn't get paid (thus I get £800 of work for free) or he comes back and does the work as I want it done to get paid (thus I am a happy bunny again) So far I'm in a win/win situation!

Skiduck

missk_ensington wrote:

Oh well. I'm obviously a Rogue Householder then :rotfl: f course its only me thats to make a profit, why would I care if anyone else makes a profit! Business is Business!

So far I've never had any problems except one plumber who didn;t do the ballor fix valves, but what is cost me for someone else to come and do it still made it a few hundred pound cheaper.

Also, I rarely need people to come back because if the "job isn't done properly" not a penny piece changes hands! My decorator has been told he aint getting paid cos I'm not happy with his work cos he only did one coat on the lining paper and didn't rub anything down.

He has two choices- cuts his losses and doesn't get paid (thus I get £800 of work for free) or he comes back and does the work as I want it done to get paid (thus I am a happy bunny again) So far I'm in a win/win situation!

or someone else pays for his losses.
I'm confient it will all come back to bite you, and I'll have a little chuckle when it does.

Edinburghlass_2

missk_ensington wrote:

Skiduck - :rotfl: Got it in one! Well, in two.

Its survival of the fittest and I only make a lot of money from property when my costs are low. If Id spent £25,000 on renovations then £40,000 return isn't much for 6 months hard work. But when you've spent £8,000 for £40,000 profit it makes it all that more worthwhile!

I am not here to oversee or dictate how another utilises the money I have paid him for honest graft. Nor am I here to check the local news agent declares the money I spend on a paper in cash, or the local pub whether he decares to ££££'s cash every weekend that passes his bar, or whether the chip shop declared mt £3.50 on fish and chips.

I would hope someone is about to oversee how much money you pay in tax for this business you run and all the loans you claim as a student with no money :rolleyes:

missk_ensington

I will of course pay tax on the income I get from Project Managing, and as for being a student a) the rules until now have stated that I come under my parents income as I'm under 25 and not married therefore "a Dependent student". I didn't make the rules!

And I don't have to file my self-assessment yet so I can't declare money that isnt official yet! I haven't veen been paid from two of them yet as we agreed Id get 1% of sale price as my fee when the house sells, well one has only just gone on market and the other has just aceepted an offer so i haven't seen the money yet. The first one I did I only made £300 because as I said, it was a bit of a hobby and even earning an additional £300 Im still under my allowance as I only work part time and am a full time student.

I won't need to pay tax when I sell my house as its my main residence and will be ploughing the profit into another, higher up the ladder.

Skiduck- what part of 'I don;t care what other people have to pay/what mistakes they make/what money they lose....' is difficult to understand? My only considerations are making money for me and my son. I couldn;t give a tinkers cuff about other peoples financial affairs!

Skiduck

missk_ensington wrote:

I will of course pay tax on the income I get from Project Managing, and as for being a student a) the rules until now have stated that I come under my parents income as I'm under 25 and not married therefore "a Dependent student". I didn't make the rules!

And I don't have to file my self-assessment yet so I can't declare money that isnt official yet! I haven't veen been paid from two of them yet as we agreed Id get 1% of sale price as my fee when the house sells, well one has only just gone on market and the other has just aceepted an offer so i haven't seen the money yet. The first one I did I only made £300 because as I said, it was a bit of a hobby and even earning an additional £300 Im still under my allowance as I only work part time and am a full time student.

I won't need to pay tax when I sell my house as its my main residence and will be ploughing the profit into another, higher up the ladder.

Skiduck- what part of 'I don;t care what other people have to pay/what mistakes they make/what money they lose....' is difficult to understand? My only considerations are making money for me and my son. I couldn;t give a tinkers cuff about other peoples financial affairs!

The only thing difficult to understand is your self-opinionated, selfish, clueless attitude (you really should get more a grip on the techniques, technologies, laws, ethics, regulations and wording if you want to be considered seriously in property.). But then, as I said, it will bite you in the ....

Good luck on making your next 300 quid

missk_ensington

I am already considered seriously in property, and have turned down 3 more jobs between now and Xmas because I simply cannot stretch myself to so many jobs. My Mum, whose portfolio must exceed £2million by now (although couldn;t be sure without a valuation) and has less that £400,000 loans on that probably has a more controversial outlook than I have. She has renovated over 100 properties to my knowledge and has always paid in cash, if you spoke to her you would probably also say to her that she needs to get a grip on techniques, laws, ethics...etc. But does she need to? Her business speaks for itself!

Perhaps I have been misleading, I don't get £300 for a property that was on my first property that i renovated for someone. As I mentioned I now get 1% of the sale price, usually £1,000-2,000 which may not seem a lot but I do the work to a) gain experience and b) because I enjoy it. Not to make money- my own developments are the ones intended to make the money.

jason_s_2

Soooooomewhere over the rainbow,waaaaaaaaay up high.Theeeeeeeeres a place that i dream of once in a lulaby.:rotfl: :rotfl: :rotfl:

Alan_M_2

missk_ensington wrote:

It is not fraud to pay someone in cash any more than it is fraud to pay for your McDonalds in cash. When did legislation come in that you had to pay your tradesman by cheque or something cos I'm not aware of it?

And it isn't Mr Zobolofsky from down the pub, I use fitters who work for local businsses, as well as big businesses. My window fitter works for Everest as his "main job" and my gas fitter works for British Gas, but wants to make extra money outside his 9-5 hours.

Think you should straighten your facts. I know exactly how a business operates since having my own in Property Development.

If you're paying cash in an attempt to avoid VAT you are implicit in tax fraud, that's law and is regualrly prosecuted as such, maybe you should get your head out of your backside and check your facts.

All your assumptions appear to have been revolving around income tax, which is irrelevant, Customs and Excise are the people who will find and prosecute, I assume you are aware that they have more power than the Police? That they don't even require a warrant to enter any of your premises, personal or business, and with VAT fraud the duty of proof lies with you...effectively you are guilty until you proove different. Oh and they're only a phone call away - they have a freephone hotline for anonymous callers to report transactions.

There was a recent law change that effectvely makes you as implicit in the transaction as the person/business taking the money VAT free.

As for your analagies, McDonalds, Restaurants, Pubs etc..Most food businesses are VAT exempt and those that aren't the vat is included in the price you pay.

Each post and reply you add highlights even more your arrogance and extreme ignorance.

alwaysskint96

£150 odd for a DAY's work seems reasonable. Was a bit peed off though when my boyfroend was charged £145 to fit a new kitchenm tap though- took the plumber 30 mins in total