A bit of moral support required!!!

FBaby

Tyrone_Black wrote: »

Sell the second home to someone who's struggling to buy one home. Then you're out of debt and someone else gets to start their life properly. Everybody wins.

What has this got to do with the issue? Maybe the second property is an investment towards future retirement as being self-employed, they might not be able to pay towards a private pension.

There are plenty of homes to buy, much less to rent, so surely it is double benefit?

getmore4less

A SOA or budget in some form is essential, without it you are just going to be guessing.

The key thing is when you have the numbers and are tracking to plan if something comes up you can instantly see the impact going forwards.

You can then adjust the plan to make it ballance again.

As long as it ballances then yes you will get through it, if there are things missing it might take longer.

You don't have to post but you need one for yourself.

The other thing is don't mix up the 2 business finances with the personal finances that's one way to mess things up big time.

do seperate SOA for the rental property and hubbies business, they have a positive or negative cash flow to the personal SOA. and you know if they are making money or just losses. Mix them up and you won't have a clue.

If some of the debts are business debts(like the rental mortgage and any work done) make them part of the business SOA.