Millionaire Challenge

CEW

spock007 wrote: »

I just don't know if I get on with the idea of BTL - to me it reduces supply and pushes up prices for people that do want to buy - and if we all owned a BTL there'd be nothing to buy! It's a moral thing but maybe I'm talking rubbish - I know many people who do it. My money is put to work - 20% in shares, 10% in NS&I index linked and the rest in relatively high (3-5%) interest accounts.

i have been following this thread from the start but have only posted once or twice before but really wanted to offer an alternative perspective to your comment above.

Whilst your views are 100% valid as with everything this can be looked at from a different angle.

I have a couple of BTL's in the SE. I feel that I am helping to provide a necessary service by providing good quality, safe accommodation to those people who are unable or unwilling to buy a property. I keep my properties well maintained and respond to all issues as and when they arise. Despite the properties being of a high standard my rents are kept at the lower end of, or even below market value.

This strategy is a win win situation. My tenants get good quality accommodation at an affordable price. I get happy, generally longer term tenants who also tend to look after the property.

My last tenant in one property stayed for 8 years at a rent far below market value. This enabled him to have a stable home for his family and still enabled me to make a small profit along with a decent increase in value to the property.

Rental properties will always be needed and as there is a shortage of council / housing association properties to rent I believe private landlords are essential.

I'm happy that I am a fair and reasonable landlord and not one of the 'greedy' ones that many see as the norm.

Chez x

lessonlearned

As CEW says - you don't have to be a nasty greedy landlord. You can provide good quality accommodation aAt a fair price.

With the best will in the world there will always be people for whom owning a property is not viable, either they cannot afford one,or they need to have job flexibility so renting suits them best. Then of course there are the free spirits of this world who dont like being tied down or having the responsibilities thAt go with property ownership.

Since the council houses were sold off, and councils No longer provide LA housing, then apart from a few Housing Associations And the odd charity, there would be no one out there offering rental accommodation if it were not for the BTL.

So don't go thinking that owning a couple of BTLs as part of your strategic investment planning makes you Rachman.......;)

Anyhow....

How are we all doing.........

Well for me January has been a month of two halves. did well on the saving and investments but was clobbered with a £315 bill for new spectacles.:rotfl:

I've also spent quite a bit on bedroom and office furniture - mind that was planned and Budgeted for.

I've also decided to help DS2 finance a new (ish) car. His old banger is due an mot in March and it is unlikely to pass. Dad has finally agreed its time to give up driving - he's 89', so DS2 may as well have it, because although it's a Few years old now it's only done 15,000 miles and has been lovingly maintained and serviced so it is a little cracker.

I've signed up for the make £5 a day challenge again. Did well on that this month, (281) so will see if I can replicate my success in Feb.

Time to make some money:D

Smattering of snow here and very cold, so starting in and keeping cosy.

sophieo16

Hi All,

I have been lurking through this thread for a while and have now subscribed.

Some brilliant motivational ideas as well as very good opinions on subjects.

keep going with the challenge!

Broken_Biscuits

found a thread on here that may be of interest to some of you here.

2015 frugal living challenge. Its on the debt free living challenge board... But obviously some live frugally not to clear debt but to retain wealth.
worth a look.

on my phone so struggling to post a link. Search "frugal" on this sites search engine.


i am now officially redundant. Well until the new job starts monday. The plan for today is to have a bit of clear out of old clothes and maybe top up with a smarter new look. Particulary in respect of work clothes. Don't want them to be asking "who's the scruffy newbie?"


are there any schemes that buy old clothes? Or is the cash payment so small that you may as well give them to a better cause for free?

lessonlearned

Theres those Cash4clothes type places, never trie them but oddly enough I have three bags of my mums clothes to dispose of so I wondered about trying them.

If th clothes are in good nick and a reasonable make then Ebqy might be a good bet although the postage might be a bit high for coats and suits.

good luck with the new job. Yeah, treat yourself to some flash new gear and knock 'em dead......

Thanks for the Frugal Living thread tip, i often drop by but don't write in, there are some great tips and ideas on there and I enjoy reading it.

lessonlearned

Ps Hi Sophie.

Listerbelle

lessonlearned wrote: »

Well for me January has been a month of two halves. did well on the saving and investments but was clobbered with a £315 bill for new spectacles.

Oh my word!

Next time, PLEASE try a supplier like https://www.goggles4u.com where you will pay 10% of the price you paid.

xx

lessonlearned

Actually not quite as bad as it sound.....unfortunately it's the lenses that make up the bulk of the cost.

1 pr of glasses, with special extra thin lenses otherwise they would like bottle bottoms, react alight or whatever they call them these days plus a pair of dead flash prescription sunglasses.

You are right though, it was still a hefty bill. I do need at least one more pair for back up so I will give your link a try. Thanks for that.

I've got a copy of my prescription so I will shop around for my second pair.

gallygirl

Listerbelle wrote: »

Oh my word!

Next time, PLEASE try a supplier like www.goggles4u.com where you will pay 10% of the price you paid.

xx

My vote goes to glasses direct. Cost me £114 recently for two pairs, but one of them had polarised lenses and I didn't pick the cheapest frames. 2 pairs for £55 before that, and quidco cash back :T.

ms_night_ryder

Hey guys

Didnt really want to post until i had completed my tax returns, i'm still procrastinating really, will be done by the deadline tomorrow.

Check the reviews on clothes4u before you give it a go, ive looked on ths forum the reviews are hardly glowing.

Ll get your lady to sign up to your local buy sell groups, they do work and its all cash in hand, no fees, i need to put some stuff up myself this weekend.

Been doing my self employed work, as well as my employed work, so just planning what to buy with my next self employed wages, Im thinking of making some niche accessories a month before i launch my niche clothing line, also need a new special zip foot, thats prob where this months money will go.

Also signed up to a few shopping apps, like checkout smart etc, so i can get some money back on my shopping, but i'll stick to the stuff i normally buy, not really money making, more like saving, but i'm up £3.65 in 3 days already so cant be bad, think i will save that cash until i need it.

Ive also decided to get a few of those saving tins, one for christmas, general savings and a holiday fund, as soon as my savings tin reaches £100 or 2, i will buy some ns&i bonds, i'm determined to at least make a start with that.

Well done ll on all your wins so far.