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

Froggy-G

Update overdue!!!!!!!!!!!!!!!!!!!!!!!!!!:rotfl::rotfl:

wynnvegas

Update provided as requested, nay ordered, by our favourite gallic gastornome.

ATT, you'll be delighted to hear that Christmas shopping has been largely completed for 2013. Christmas 2012 and New year 2013 went very well. November and December have largely been concerned with setting up my first proper Company.

Everything on the business planning, financial planning and initial sales front has gone swimmingly.

Everything on the quality, health and safety, policy, transport, procurement, accreditation, partnerships, reporting and recruitment side are coming along nicely.

Everything on the accountancy, taxation, premises, material delivery, contract formation, initial audit, tool, machinery and equipment hire, PPE purchase and bank account are jobs for tomorrow and maybe Saturday.

Hope everyone is well and wishing the much neglected world outside my head a wonderful, profitable and successful 2013.

Cheers,

Billy

abouttimetoo

Knockety knock

Hi Billy, how's thing's? Hope you and all things Doohnibor are well?

Regards
ATT

Tilly_MFW_in_6_YRS

How funny ATT, I was just thinking about Billy and wondering how he was getting on.

How's the book writing going?

Best wishes Tilly x

abouttimetoo

Lol, great minds Tilly, great minds :D:p

Regards
ATT x

Froggy-G

Billy!!!!!!!!!!!!!!!!!! Where are you?!?!?!?

He is probably living it up in Vegas by now :D:D

When you finish having fun, please pop over, we miss you!!

Froggy

Tilly_MFW_in_6_YRS

Morning Billy, have you finished your book now? I can imagine it will quickly be a best seller

Hope all is well

Tilly x

Froggy-G

Billy!!!

Stop faffing around and get posting!!!!

Froggy

wynnvegas

Morning All,

Prompted, not so gently, by Monsieur le Frog, here is the latest brief update (life getting in the way and all that!). Apologies for the lack of activity in the last many months but getting time to do anything at the moment, as will become apparent, is not the easiest. I counter my own argument with the amount of time I spend keeping tabs on and laughing at the Sevco (the new iteration of the dead club rangers) Sitcom so there's really no excuse whatsoever.

Where to start - the diary/book, the business, the house, the big house (or lack thereof), the land hunt (or lack thereof), the buy to let tales of woe and small successes, the most recent Vegas jaunt, the new jalopy and the holidays planned, or the revisions to the grand plans?

It's been a long, long 9 months. The majority of the time was spent setting up the business and building it to a level whereby it is profitable and sustainable enough to compete with some of the bigger boys in our game. We're almost there on all counts and the proof will shortly be in the pudding as we have a massive PQQ and Tender Process to get in by the end of this month. Hopefully our lack of trading history, the only realistic impediment to our success and future growth, won't count too much against us but I'll get into all that later on.

In the main, the important things are that Moyra and I are both fine and dandy. She has been busy running her new department and moving everything into a new school which opens officially on Monday. When not doing that, she has been planning the most anti-MSE holidays imaginable - 5* trips to Thailand and Malaysia, Bellagio Lakeview Suites - at $600 a night - in Vegas (made all the worse as we have now gambled enough to be offered free rooms for our Vegas holidays) and, most recently, a burgeoning fascination with the Maldives.

The book has stalled slightly but I've kept up the diary. It was originally intended as a road from mortgage freedom (not so funny now that I've got 5 new mortgages!) to the mortgage freedom in the Big House. There are still plans to sort the book out and possibly even publish it (even if it's a first and only edition for the Big House library) and, assuming the BTL piece doesn't bankrupt me in the next few years, the plan to expand that piece as well as find and secure the land for not one but two big houses (more of that later) continues. It's looking likely that we'll need to broaden our land hunt to get the land area and the kind of seclusion we're looking for at a reasonable price but running an extra hour up the road won't be a major hardship if and when things progress as planned with the business. As it's a construction, skilled trades and labouring business, then the potential definitely exists to buy the land personally and build to completion the houses (1 each for my business partner and I) through the business. If that comes to bear, we could well be looking at a 3-4 year timescale to moving into the Big House, mortgage free. If we get anywhere near either the timescale or the status, I'll be delighted and all the hard work in the last year setting the thing up will be well worthwhile.

The BTL piece is continually interesting. It's making reasonable money (£190 on average after mortgages and insurances) but we did have a tenant in Livingston who absconded without paying their rent for a couple of months and that one stood vacant for another couple of months due to the letting agency not putting in a decent amount of effort. The main thing at the moment on that front is that house prices are starting to go in the right direction and I'll be meeting the financial advisor in the next week or so to finally get going with the second round of purchases. Our equity level at the moment sits at £128,000 so we'll dip £20k or so into the BTLs and grab another 4 or 5 in the coming months. With 10 properties, including the squalor, that should give us a decent enough base to work with.

My MSE departure of the year has been my new car. I'm afraid I was talked into "looking more the part" after my Insignia went back and I had a short-lived shot of a Mazda 6. Looking the part involved the procurement of a year-old £40,000 S-Class Mercedes including all the toys available. It's a beautiful machine and originally cost £77,000at the beginning of 2012 (so really a bargain!) and I agonised over getting it but I expect it to run for a good few years before I have to look for a replacement.

Signing off for the moment to enjoy/endure the Celtic game against Aberdeen. Hope everyone is continually grand and dandy. Now that Froggy has got me back on the horse, I'll address any and all questions, update in a bit more depth and have a wee read of the diaries I've missed in the last year!

Billy

newgirly

Hi Billy, welcome back
Great to hear how you are getting on , its clearly been a very busy year!