Only freedom will do

edinburgher

Alchemilla wrote: »

A Mr E Mustache blog?

It's an idea, Americans get away with being rude, I just seem rude when I do it.

Alchemilla

So does he! He does temper it with a little humility and humour.

gallygirl

Think again about BTL Ed - dare I say 'get over yourself''? It's not all people living in houses with mushrooms growing out of walls you know . What is wrong with providing QUALITY accommodation and responding quickly to any issues? You could argue that by providing a great BTL you are stopping a slumlord making money.

edinburgher

Neither Mrs E or I are comfortable with the idea. It sounds like the worst possible fit for my temperament ever. I dislike confrontation, I would sit seething every time rent was late etc.

May I politely suggest that you do the same, we all have our lines in the sand

AlexLK

edinburgher wrote: »

Boo!

It would appear that my MB sideline has been dealt a massive blow by the decision by another two bookies to severely restrict the size of bets that we can place with them. This means that I am now in the unenviable position where there are only 3-4 useful UK bookies who will take my money freely. This will seriously affect profitability

Part of me wants to cut off my nose to spite my face and just knock it on the head after Royal Ascot, but the more sensible part of me knows that there will probably be small amounts to be made over the next couple of years, just not as much. We will be able to join a lot of the good bookies again for Mrs E, but not until we move house.

So a little gutted, unsure how to proceed and perhaps a tiny bit shellshocked as it has been a fantastic little money spinner. At least I made hay while the sun shone and have hung on to c. £5,000 of my profits.

Other than that, keeping myself distracted with a productive morning.

• £10 to savings (covers me for the weekend)
• £18 to S&S ISA pot (ditto)
• Made ££ from MB offers
• Went to L1dl for groceries (half price peanut butter om nom nom)
• Opened a complaint for an item not received from an Am@zon seller
• Replaced the car wheel trims, inflated the tyres, hoovered and washed the car, ordered some replacement fittings for the rear license plate, ordered a 'Baby on board' sign

Feeling a bit useless.

I can't say I understand the matched betting but sorry to hear things are not going as planned with it. Do you have any other ideas, no matter how silly that could pay a second income? Think about the things you know about, could be related to a hobby or your job or degree.

gallygirl wrote: »

Think again about BTL Ed - dare I say 'get over yourself''? It's not all people living in houses with mushrooms growing out of walls you know . What is wrong with providing QUALITY accommodation and responding quickly to any issues? You could argue that by providing a great BTL you are stopping a slumlord making money.

The ones living in houses with mushrooms growing out of the walls tend to own them in my experience, tenants wouldn't put up with that. :rotfl:

edinburgher wrote: »

Neither Mrs E or I are comfortable with the idea. It sounds like the worst possible fit for my temperament ever. I dislike confrontation, I would sit seething every time rent was late etc.

May I politely suggest that you do the same, we all have our lines in the sand

The stress (or lack of) depends on whether or not you'd be prepared to have an agent fully manage. Some these days even guarantee the rental income, so you wouldn't have to worry about the property being empty or tenants that don't pay. However, this all comes at a price. You can self manage which involves personally dealing with everything to do with the property and tenants, the upside being you take 100% of the rental income and can deal with your own contractors, inspect the property yourself and meet / approve the tenants.

Of course issues like rent being late and tenants causing damage to the property happen (and yes, it will happen at some point) but there are good tenants out there, just looking for a nice home for their family.

Alchemilla

Ed I am with you.

I would quietly seethe as my blood pressure rose also.

gallygirl

edinburgher wrote: »

Neither Mrs E or I are comfortable with the idea. It sounds like the worst possible fit for my temperament ever. I dislike confrontation, I would sit seething every time rent was late etc.

Fair enough - back to selling your body on street corners then .

Seriously, yes it can be a hassle and yes you can 'seethe', as I have done, but the 'work & pain to gain' ratio makes it worth it.

edinburgher

Seriously, yes it can be a hassle and yes you can 'seethe', as I have done, but the 'work & pain to gain' ratio makes it worth it.

GG, I am sure that you can do the calculations required to accurately calculate yield, but I have a sneaking suspicion that most BTL landlords do so with rose tinted spectacles on. I see this a lot on the forums, a roughly even split between people who are honest and say 'it pretty much pays for itself' and those who seem to treat the rent payments as pure profit.

Tax relief and leverage are the real takeaways.

Tilly_MFW_in_6_YRS

I love the way your diary generates healthy and educational debates/discussions.

Thanks Mr E :beer:

I hope the sun shines for you all today - it's blinking miserable here.


Tilly x x

edinburgher

I also love our arguments

It's a wee bit overcast, but taking DD to meet her great grandparents for the day, they have a conservatory to keep us all dry. Should be a lovely day, they won't have had so many children in their house since my generation were young.