What income can I expect from £1m+?

Beckyy

Could you or your children manage your property portfolio? It might be good practice for them for the future and would save you the agent fees.

ds1980

whats the difference? the point is paying 8% unnecessarily on anything has serious implications for your returns. lets call it a further tax on profits for a better expression. Bottom line don't do it anymore.

if you hadn't been paying 8% you'd have more a lot more capital in the first place!

grey_gym_sock

property management is a job. it can make sense to do it yourself, but it can also make sense not to. you have to pay other ppl to do some jobs for you (or you'd be living a very primitive kind of life).

cedarmay

I agree. The 8% is 1/12th of annual rent, for which the agents provide a full management service. They find the tenants, show the properties, and handle any repairs or maintenance. I've shpooed around and the fees are reasonable for this service.

gozomark

ds1980 wrote: »

whats the difference?

8% of income v 8% of capital ? quite a lot !