London Has Peaked

westernpromise

wotsthat wrote: »

Article says prices are up again by another 4.3% in Scotland this year. The jury's out but I'm going to put it out there - I don't think selling to rent in the late nineties was the most astute of decisions.

Pretty expensive crash insurance you bought there.

Wow, pretty out-there contrarian position. You must be an estate agent.

Crashy_Time

chucknorris wrote: »

No it hasn't gone through yet, a structural engineer is surveying the property today (it was previously surveyed but it was recommended by the architect that a S.E. looked at a chimney that was leaning). I think I mentioned before that I would sell property as my tenants vacated, one tenant has recently gave notice and will be moving out next month, although I will also be putting that property on the market, as December is quiet, I don't really expect tat one to sell for a while. But that isn't so bad as I will get an extra £7k, if it completes in the next tax year. That is because I have already used my CGT this year and also I will have to pay about £100k CGT. So if I sell in the following tax year, I get to retain the £100k for another year, that'll be worth approx £4 in dividend income.

Thought you said your wife was selling a house?

Crashy_Time

wotsthat wrote: »

Article says prices are up again by another 4.3% in Scotland this year. The jury's out but I'm going to put it out there - I don't think selling to rent in the late nineties was the most astute of decisions.

Pretty expensive crash insurance you bought there.

I didn`t sell to rent in the late 90`s though......:rotfl:

chucknorris

Crashy_Time wrote: »

Thought you said your wife was selling a house?

She is, that is one going through now, if there are no hitches that should be at exchange of contracts next month at the latest. I am also putting a property on the market when my tenants move out next month, that is the one that I am expecting to drag on a bit.

wotsthat

westernpromise wrote: »

Wow, pretty out-there contrarian position. You must be an estate agent.

It's a brave call I know especially as Crashy has detailed calculations showing he's massively up as a result of his HPC adventure.

westernpromise

chucknorris wrote: »

No it hasn't gone through yet, a structural engineer is surveying the property today. I think I mentioned before that I would sell property as my tenants vacated, one tenant has recently gave notice and will be moving out next month, although I will also be putting that property on the market, as December is quiet, I don't really expect it to sell for a while. But that isn't so bad as I will get an extra £7k, if it completes in the next tax year. That is because I have already used my CGT this year (B&B shares) and also I will have to pay about £100k CGT. So if I sell in the following tax year, I get to retain the £100k for another year, that'll be worth approx £4k in dividend income.

I think you should post the link right after Crashy posts his BCR calculation.

westernpromise

Crashy_Time wrote: »

I didn`t sell to rent in the late 90`s though......:rotfl:

I wasn't trying to dodge a crash between 1988 and 1990 so on that basis I didn't lose £26,000 either.

Every time I lose money I don't care, so it doesn't count.

What's your BCR again?

chucknorris

westernpromise wrote: »

I think you should post the link right after Crashy posts his BCR calculation.

I don't mind posting it after exchange, I just don't want to tempt fate before exchange.

wotsthat

Crashy_Time wrote: »

I didn`t sell to rent in the late 90`s though......:rotfl:

No you sold up in the late nineties then did some sofa surfing and then some free digs before getting into renting big time.

My memory of the events is better than yours.

Then again I imagine the manner in which your home ownership ended was a bit traumatic which is why you try to forget it. What happened?

Jack_Johnson_the_acorn

wotsthat wrote: »

No you sold up in the late nineties then did some sofa surfing and then some free digs before getting into renting big time.

My memory of the events is better than yours.

Then again I imagine the manner in which your home ownership ended was a bit traumatic which is why you try to forget it. What happened?

This thread is keeping me entertained in work.... I think giggling to myself is weirding people out. :rotfl: