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The trials & tribulations of a 1st time landlord & investor

edited 17 June 2017 at 10:25AM in Mortgage-Free Wannabe
681 replies 97.4K views


  • TallGirlTallGirl Forumite
    4.6K posts
    Part of the Furniture 1,000 Posts Mortgage-free Glee!
    Thanks for the congrats I'm still well chuffed so nice not to have to think of job hunting for a while obovusly might have to in a year but I can plan for that and we might get more funding as the project will take a long time.

    Had a few low alcohol beers last night and three vodka and coke so a bit less energetic this morning. We have been out to hit some golf balls (it was raining so no play) and had a shower. DG is now job application writting and I've got a huge sausage caserole in the big slow cooker. Having spagbol for dinner naughty carbs but needed. DG had more than me yesterday.

    My mum asked how much cash I wanted from my inheritance in Denmark and how much I wanted in investments. I've gone for £7k cash and £47k funds. Would like to buy a summerhouse at some point in the future but it's a long way away.

    Need to tell my IFA I've got a job will wait until I know re pensions. I can start paying in again which is great.
  • TallGirlTallGirl Forumite
    4.6K posts
    Part of the Furniture 1,000 Posts Mortgage-free Glee!
    Morning all awake really early as DG wanted to get into work early she took yesterday off as her face was all red (she reacts badly to drinking).

    It's my birthday today! 47! Feels strange not celebrating it at my mums in Denmark but I was there last year when I got the call that my ex DH had been found dead. Seems odd it's only a year ago seems longer so much has happened this year.

    I had just opened my presents when I got the call from my friend and neighbour. I thought she was just calling to say happy birthday but she wasn't. I had to then call his dad and brother to let them know it was horrible having to do it on the phone and them crying both of them. One in the U.K. one is South Africa. Yuck hope I never had to do that again horrible. My ex dh wasn't a bad person he was just an alcoholic who didn't want help and I couldn't save. It's really really sad to think about but I couldn't have changed the final outcome maybe delayed it a bit longer had I stayed and put my on life on hold. I didn't I left and he is now gone but as I said time to reflect on all the good things that's happened over the last year. Things to be grateful and happy about:

    I'm still on good terms with his dad and brother even if they don't know about DG. (They do know her but not as my girlfriend)
    Probate got sorted an I'm now quite well off and have a secure financial footing so I I don't have to wait until 68 to retire (just been affected by the pension changes).
    I got my house cleared out while out of work so had the time and it's now rented out bringing in a healthy income. (Even if the tenants pays a bit ad hoc.)
    My cats went to a lovely home and I get to see them going down to stay in a couple of weeks and seeing my really good friend.
    I was out of work last year on my birthday but found a new job very quickly maybe too quickly. I didn't like it but I learnt a lot and I now know what I like and don't like re advice work. Helped this time for job hunting for sure.
    I've got a new job to look forward to and don't have to attend the two interviews I had got tomorrow.
    DG and I have a lovely solid loving relationship we have so much fun, we support each other and generally just love being with her.
    I am back member of a Golfclub with a handicap playing in completions and best of all DG is playing too and I enjoy playing with her. Had a lovely game yesterday shot my best round ever.
    I live really cheaply here we now have two rooms so we can have people to stay. Yes the others are a bit annoying but there's so much space and a lovely garden too. I even grow veg.

    That's it I think, DG gave me a lovely wooden advent calendar for my birthday I have never had one even as a kid so this was so sweet she remembered. Ecards from mum and uncle look forward to speaking to my family later. Would be ideal if my insoles finally turned up today.

    Might have a snooze got quite a bit to do today but it's so early still.
  • MoneyfordreamsMoneyfordreams Forumite
    1.9K posts
    Fifth Anniversary 1,000 Posts
    I must have been such a difficult time.

    hope you have a lovely birthday
    Mortgage restart June 2018 £119950
    Re mortgage August 19 £110470, HSBC £1500cc, Hfx £0, NW £1750 M&S £850, MBNA £9050
    … Mortgage £104900
    plus car £6000 :eek: , it's coming down :D
  • vandanfcvandanfc Forumite
    2K posts
    Part of the Furniture 1,000 Posts
    Happy Birthday TG. I hope you have a lovely day.
  • edited 4 August 2017 at 9:38AM
    TallGirlTallGirl Forumite
    4.6K posts
    Part of the Furniture 1,000 Posts Mortgage-free Glee!
    edited 4 August 2017 at 9:38AM
    Thanks for the birthday wishes much appreciated.

    Got confirmation job starts 14/8 should get contract on Monday finally. Phew was getting worried. Volunteering great yesterday doing two days next week and that's it then. Been amazing and definitely the reason I got interview for that caseworker/supervisor job where I got offer the mangers job. Also nice to know I can go back in and advice on the ground plus I got my accreditation.

    Emailed the ward councillor again copying the other two in so fed up with no hot water and no answers of when things will change. They want to install water heaters but it's a huge building and it's just no practical. Will cost a fair bit and doesn't solve the heating issues. I don't think they can get a new supplier so that's why they are doing it. Supposedly for three months but I don't trust them. At the moment we are deducting six quid a day so that's £186 cheaper rent. They are ok about that so from 1/9 we're upping it to £10 to cover lack of heating and more inconvenience. I think we might have to move I just don't want to.

    Got a few things I must do today in particular clean it's really bad. I also want to tidy up and make sure all is ready for full time work paperwork etc. I really should do my tax return for last year for he rental income might have a look at that today.

    Booked our hair appointments for next weekend we're staying with friend but need hotel Friday night. Will just be a cheap one but nice treat and to have hot water will be a novelty lol. Also emailed my IFA as I can start paying into pensions again

    Not heard anymore from my tenant I'm not sure if he paid yet this month as it takes a few days for the money to come in. Would love him to leave it's a bit stressful this not paying on time.

    Also need to call my dad it's his birthday and call up for new appointment for insoles the other ones must be lost and new ones are not very good. Shame really as the lost ones were great.
    I think that's it nothing else exciting to report.
  • TallGirlTallGirl Forumite
    4.6K posts
    Part of the Furniture 1,000 Posts Mortgage-free Glee!
    Still not got hold of my dad but tax return done £751 to pay quite good but not a whole years rental. Also managed to get app for new insoles the ones my mum sent I had forgotten are lost it's so annoying they were great. Also done cleaning and swapped a cable in the lounge for a crap one we had. Someone left it behind so might as well claim it.

    Golf soon then chill tonight I think. DG wants a drink I'm not sure I fancy one. Maybe low alcohol beer so rock and roll I am.

    Yep my tenant hasn't paid but he is paying today or tomorrow yeah right be he does usually pay I must say.
  • TallGirlTallGirl Forumite
    4.6K posts
    Part of the Furniture 1,000 Posts Mortgage-free Glee!
    Lovely weekend chilled Saturday sorted my dads present out he's got his first ever iPad he's 81 so good on him can't even text so my nephew has a lot to teach him in the week he's with him.

    Spoken to my mums partner it's his birthday in the 5th and DG had a friend come around for most of the day and evening which was nice she's cheered up about work (they do the same) and I cooked nice dinner.

    Golf today 18 holes took 4 3/4 hours but really good and DG played all the holes. I think she might get a handicap soon would be fab.

    My foot really hurts can't wait to get new insoles on Thursday will be so good so annoying the others were lost.

    Volunteering tomorrow and Thursday, golf Wednesday online course Friday and also going down South Friday staying in hotel then hair cut Saturday and staying with my friend and seeing my old cats can't wait also be good to see him been a long time end of Jan. Tired tonight not sure I'll stay up that long.

    My last week next week before work feel I should do something speacial but can't think of what.

    Hope you have all had a nice weekend
  • edited 8 August 2017 at 10:51AM
    TallGirlTallGirl Forumite
    4.6K posts
    Part of the Furniture 1,000 Posts Mortgage-free Glee!
    edited 8 August 2017 at 10:51AM
    Still in bed feel like making the most of my last week of laziness. DG is coming back to work from home she's got cold so we can sneak out to play golf then she can work later this evening. Also need shower so bored with no hot water no kind of running out of options and so annoying the counsellors haven't replied I'll chase in a few days.

    Trying to think of things I need to do before I start work but I don't think there are any. Not had my contract yet was suppose to be yesterday not nothing I do hope I get it soon would be nice to know the terms bet it's all min it usually is in a CAB.

    Need to do a budget with my new salary would be nice to save more than just the rental income ive saved £1000 a month but I'm sure I could do more.

    I've not had paid employment for five months so tax should look quite good. Anyway best get up washing to hang up.

    Washing on should really get it out.
  • edited 8 August 2017 at 11:14AM
    TallGirlTallGirl Forumite
    4.6K posts
    Part of the Furniture 1,000 Posts Mortgage-free Glee!
    edited 8 August 2017 at 11:14AM
    Done budget looks like I could definitely save more as my income will be £640 a month more working full time and that's not taking into account the low tax I'll pay for the first six months.

    After expenses and regular saver I've got £1242 spare so must set up a regular saver for that. I do drip feed my capital each month into my investment fund my private pension and my ISA that's about £5800 so needs to be accessible..

    I've opened an easy access saver with Aldermore they pay .75% better than the .05% I'm getting now that leaves £31k in easy access to pay monthly drip feed. I've been living on this pot so needs to stop.

    Done a breakdown of how my portfolio (sounds dead posh) is made up and this is what it looks like:

    Total Cash 31%
    Total S&S Tax Free 4%
    Total S&S non tax free 9%
    Total Pensions 15%
    Property 42%
    Total 100%

    I am feel I have too much cash but in that amount is also premium bonds and my peer to peer lending

    I have two small pensions that needs to be transferred which my IFA will do that will make things a bit neater but then I will get a new one from my new work.

    So back to the issue of what to do with the spare amount each month to stop me frittering it away (I do still gamble which really should stop).

    I could drip feed into Aldermore its only 0.75% but I've max out all the other regular savers and it could be a home for the spare money so I'm not tempted to dip into the bigger pot of easy access money which is for drip feeding. I think once I know how much I will be drip feeding into my private pension once I start work then we can work out what is needed in easy access. I would say £640 is the min as that is what I shall be earning more so no brainer really.

    Feels good to look at it all and count it all like a mid year status. I want to tidy up my rental income accounts and then save that incl the tax return so it is all neat and tidy. Need to make sure I get £1000 paid into M&S to get my £10 gift card top up so might set up SO to avoid hassle if my tenant doesn't pay. Off to do that now and then DG should be back soon.
  • TallGirlTallGirl Forumite
    4.6K posts
    Part of the Furniture 1,000 Posts Mortgage-free Glee!
    Aldermore all funded got confirmation I know it should be as I put in the number correctly but nice to know.

    Golf last night didn't play well neither did DG and I have competition today at 10 and it's likely to rain yuck yuck not good.

    Starting to get cold we have some portable heaters but still nothing from guardian company regarding a new meter they are so incompetent. Going to deduct £10 a day for lack of heating from 1/9 at least it's a bargain living here even if annoying.

    Email from new CEO she is doing my contract and job description on Thursday so it's all ready for me to sign when I come in Monday at 10am. It's slightly disappointing but I think she's stretched it's also the summer holidays. In a way it could be good as I could have a say on the wording but a bit annoying as I don't know the terms guess I'll find out. Seems silly to aks about leave and pensions in advance when I will find out Monday and I am taking the job. Need to come up with a suitable reply saying it's ok but not ideal.

    Should get up as I need to drive to the club feel like staying here and not playing as I know it will rain and I hate playing in constant rain.
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