Mortgage Free - so good they'll do it twice! Wynnvegas aiming for the big house

[Deleted User]

Plan for 45 mortgages??? :eek::eek:
wow - thatll certainly be a challenge and a half! are you planning on owning scotland by the end of your BTL empire?!
seriously though -sounds like things are going well on all fronts!

wynnvegas

Hi TYO,

That's 45 more mortgages on top of the 5 we have currently. 50 in total and, going well against the grain, it may never actually make that much sense to pay the dastardly things off. We'll get to a stage within each bunch of properties where we consistently go from being about 15% of our original mortgage freedom (which will have gone on new deposits, surveys, legal fees etc) to more than 100% offset when we release some of the equity to put each BTL at around 70-75% LTV so mortgage freedom will be a twice annual thing for us for a wee while.

But yes, all going well. Particularly today as the mighty Celts are being paraded in the Champions League whilst the lowly Sevco were pumped out of the minor-leagues diddy cup by a minor league, diddy team last night.

Cheers,

Billy

unhappy_shopper

wynnvegas wrote: »

Hi TYO,

That's 45 more mortgages on top of the 5 we have currently. 50 in total and, going well against the grain, it may never actually make that much sense to pay the dastardly things off.

Hi Billy, I don't know how you find the time to manage 5 BTLs and your home mortgage accounts on top of your job and other commitments. You must be tapping on your bottomless energy and enthusiasm reservoir
Good luck.

wynnvegas

Hi US,

I must make it out to be harder than it is as I still manage to make time to live a little. To be honest, the BTL pieces, once up and running, are very much out of sight, out of mind. the charities take up around 10 hours a week or so so nothing overly strenuous. Work normally accounts for about 60 hours a week (and now rarely on a weekend) and the other business planning pieces are fitted in as and when I can manage them. Moyra ensure the weekends are left free but now that she's picking up a few more bits and pieces to get on with at home, it's not as big a deal when I'm battering away on the laptop of an early evening.

Cheers,

Billy

Mortgage_Reduction_Novice

wynnvegas wrote: »

Hi MRN,

Good luck with it. We had to beg, borrow and nearly steal when we first moved into our place until things arrived. It was only 8 years later that we got around to getting the place kitted out properly.

Cheers,

Billy

Hi Billy,

I don't know how you fit it all in either! I have my hands full with one OH, one house to renovate, one mortgage, one full time job and some mystery shopping/auditing on the side!

Our families were really kind in giving us their unwanted furniture when we first moved in almost 4 years ago. It's only now the renovations are in full swing that we're replacing with furniture of our own taste and decent quality so that it lasts and we can take it to the forever house. Oddly none of them want it back so we've sold, freecycled or given to charity too!

unhappy_shopper

Knock, knock...

Hi Billy, hope you have reached your landmark 50th BTL by now

US

wynnvegas

Hi US,

Nothing close. Just about to take a fairly massive leap though. Two companies set up and very nearly ready to launch. Long couple of months just about to come to fruition. Update soon!

Cheers,

Billy

gallygirl

That sounds intriguing

Glad you're ok - we have a habit of losing Scottish men on here at the mo :rotfl:.

misscousinitt

Hi...awaiting your update...

MCI

abouttimetoo

Hi Billy and a very Happy New Year to you

Was just wondering how you were getting on? Hope you and Moyra are both well and had a great Christmas; would you believe I think i actually missed your Christmas pressie updates just a wee bit

Regards
ATT