Millionaire Challenge

elleandie

Hi everyone

I wondered, whether the SDLT changes on second properties had put any of you off buying second homes to either flip or rent out?

It certainly puts a squeeze on potential profits and initial funds needed!

Elle

cazmanian_minx

Not for me, but I'm buying in a part of the country where house prices are still very low. Mr Minx is loving doing the current one and now that we've nearly finished the strip-out and the trades are about to move in for a few weeks, is jumping up and down asking when we're going to buy another! Two possible options that I can see at the moment, one 3-bed detached cottage in a nearby village with a pretty atrocious home report (serious water ingress through a flat roof has brought down a couple of ceilings) on the market for £60,000, and one gorgeous 5-bed Victorian house in the nearest town, C-listed, has been used as a club house for the last goodness knows how many years, but would easily convert back to residential for £220,000. Doubt we'll buy either, as we need to finish this one and get it earning first, but 3% on either of those wouldn't bother me too much.

lessonlearned

Similar to Caz really. House prices here are much more affordable than further south hence that 3 per cent is not too bad.

Some interesting properties there Caz.

DS1s registry office ceremony tonorrow. Fingers crossed the weather holds now that it's finally perked up a bit.

Just spent even more money:eek:

Have booked a family outing to London to see the Lion King for DS2s 30th birthday and DS1s belated 30th birthday which he missed because it was his birthday the week my husband died.

It's only money......;) and it will nice to have some family fun.

The boys have suffered by losing their father just as much as I have from losing my husband - it will be a nice treat for us all and will help put the sad memories firmly in the past where they belong.

We are soooooo worth it. :rotfl: and it's definitely time to move forward.

Karmacat

And you're either preparing or actually *at* the ceremony right now, LL! Hope its a really lovely day for all of you.

Kayalana99

Hope it went well :-), just delivered 525 photos to my Bride today...dying to know what she thinks. So so worried she'll not like them, I know I'm prob just being paranoid but gahh!!

Her husband liked a photo on my business page 10min ago so I'm taking that as they are busy but they can't hate me or they wouldn't be liking my photos lol!!!

Roll on tomorrow hopefully I'll hear from them - bet they have spent most the night just looking through them as their are so many and when they are your own wedding photos you don't just skim through them!!

- This was the biggest wedding I have ever done, really fancy venue, full day with a couple that I've met with to book, done an engagement shoot and I just really want them to be happy.

Kayalana99

Eep. Just to update they LOVED the photos - and so did everyone else! I've had so much great feedback off them.

Just had an enquiry from someone I actually met at the wedding - got a lovely photo of her Son to. Hoping this is the start of something...the only problem is people expect more from you the better quality you post and given I'm still quite a budget photographer I like that I don't have much pressure...I guess the only way is up though.

This really has been a labour of love, but I'm hoping because I have decent portfolio to show that the money will start to follow now..

lessonlearned

Fantastic news Kaya. A good professional reputation is something to really help you build your business.

Cover of the Sunday times one of these days.:D

Well I am Having a fab time.

The civil wedding was a wonderful happy day. The bride looked radiant and the sun shine brightly. My sister took the photos, some excellent shots, one to go in the local press. My sister often gets her work in the press - TBH I don't know why she doesn't go professional. Her work is really good, she has a brilliant "eye " for composition and comes up with some really unusual images.

Speaking of unusual images I took the new Venezuelan relatives to Chatsworth yesterday. The new Duchess (dear old "Debbo" died 18 months ago) is a patron of the arts and an avid collector - so some fabulous new art in the house now. Who knew Damien Hurst was such a fine sculptor. I suppose all the pickled shark nonsense was just to get his name known, just canny marketing??? :rotfl: one way of getting your name known ........

Well I'm spending money like water......still I'm having a great time so it's not being wasted. Actually the break from the mundane everyday is doing me good, all the fun and frolics gets my creative juices going and I've lots of new Ideas buzzing around.

Money spent on fun stuff is never wasted.:rotfl:

Car gone in for its MOT today, keeping fingers crossed.

Off to Barcelona next week.

Hope you are all well and making lots of money.

Bmth100

Kaya, great news, glad they liked the photos so much! Had our wedding in November and our photographer was so attentive. Isn't it funny how the person you're supposed to notice the least ends up creating your longest lasting wedding memories.

Lessonlearned, hope the MOT passed. Also off to Spain in 28 days, albeit a different part!

New job is going well here, really settling in. Not sure how, but I've ended up with a 30% pay rise for about 200% less stress.. People who don't throw you under a bus.. People who actually share the notion that work is important but is just work, not life and blood. So happy that I've made this move and ended up liking it more than where I was.

Also, to reference the freelance writing I was doing, it's going very well and I may well pay my debt off far quicker than I thought!

lessonlearned

Yes.....we got through the MOT ok, just new brake pads and the new tyres I had fitted the week before. So a total of £270 so not too bad.:D

TBH I don't actually "need" a car I could manage perfectly well without one but it is a "nice to have". I have once or twice considered not bothering with one but I must admit so far I haven't bitten that bullet.

Yes it's a luxury item but I can afford it so I keep it. My poor old dad had to give up driving when he was 89 and he really misses the independence it gave him.

I currently live in the city, I have a gold card for free bus travel, a senior railcard, the airport is twenty minutes away and short hops in a taxi are affordable. Plus of course it wouldn't hurt me to walk more......:rotfl: We will see, depends where I eventually buy a house, but yes I could make considerable savings if I didn't run a car.

A month in Spain, how fab. It should be lovely this time of year,not too hot. Glad to hear you are so pleased with your job move. Good for you.

Well I have been busy this week - hoping to finish the study declutter today and then off to Barcelona on Wednesday. Where does the time go.......

SEe you all next month. :beer:

Muhren

Not really too much to report other than I am not going to follow up on the flat I went to look at. I think I have decided that I am not going to go down the BTL route, although I have been swaying back and forth on this a number of times.


I plan to move back into my house in September when the tenants contract is up. I should be able to get a very good deal as my LTV should be at 50%. In the meantime I plan to build up some savings which I could then use to do some work on my house, more that I want it done rather than it needing to be done.


I am then going to put as much money as I can each month into S&S ISA along with my SIP/sharesave at work. At the moment I think I am liking the idea of passive investing, I have been reading some threads from the savings & investments board, I still need to do a lot more reading but I think that is the way I am going to go.


Hope everyone is enjoying the sunshine and hopefully getting ever closer to that million!