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

TallGirl

So yesterday wasn't that productive no ryebread so that will be today. Did get counselling done and picked up my chair. Got one session left I know I'm ok I don't need any more now. Entered the mock exam waiting for feedback but then printer messed up so couldn't print out for real assignment hopefully fixed now. Did spend some money yesterday £20 on for rest for dg as I need the desk raised so I had promised her that and cable for the printer as it won't work with the PC on Wi-fi.

Got a cheque for £58 for the rest of my home insurance for the rental property so that was nice need to get to the bank with that. Saw a couple of people at work when I collected my chair one from my team is taking a sabbatical which is just fab I'm so pleased for her, seeing the team Friday should be good.

So list today
Make ryebread or no dinner tonight
Study for both subject or at least decide which one I do first
Chase up solicitor for exchange date as last I heard they hadn't had my signed contracts
Buy milk
Phone my mum

TallGirl

Got everything done yesterday going to concentrate on Legal Research it's hard to get back into not touched it since May.

Ryebread was amazing really should make it more often. Did go to the shops to bank my cheque but had forgotten my wallet. Saved me from buying a top I didn't need and more food as all I had was a latte using my freebie from Greggs. Going to have my hair highlighted today expensive but she's so good and it does last ages. Appointment is at 11.15 so not a lot of time before as it takes ages to get there by bus. Need to do some shopping for dg she's got no bras as I left them at the hotel and she won't now get them until Friday week.

I'll leave at 9 so need to get out of bed really.

Here is the list for today

Hair highlighted
Buy bras for dg
Present for host tomorrow
Study legal research

Final thoughts looking at Monzo I'm spending so little since leaving work I've had one McD meal, spent 80p in Tesco and £3.94 in Co-op for drinks for both dg and I. Also put £40 on my Oyster, that's so good for me long may it continue. I have bought other things like £20 on footrest and cable and bought train tickets to Leeds although I get them back

TallGirl

Had a brilliant time Friday the whole team was there a good ending. Even better the most stressed out one is taking a 4 month sabbatical and left Friday so nice to know she needs time out and hopefully will find the courage to do something else. Two left at 9pm as they live in Kent but two of us stayed with the host and had a whale of a time I got home at 3pm. Lovely evening and I will stay in touch with them going to The Tate with the one on sabbatical can seeing the other ones on Tues.

BBQ on Saturday with DGs old work mates good fun I really like them and they seem to like me. All good. Today watched the Solheim Cup all day cannot believe we won amazing game so exiting. Sad as I had planned to go and two of my friends where there.

Early night then off down South tomorrow then Cornwall Tuesday my road trip begins can't wait.

TallGirl

So today it's e years since I started this diary after a small break I've now been on here 10 years and I still love it. Reading the post below just makes me realise how far I've come in the last three years so time to do a bit of reflection. That job I started in 2016 turned out to be awful the CEO was a bully and there was no job in effect he got rid of me at my probation meeting. Then I had 6 months off job seeking which was great before landing the job I've just left. Now I'm about to start on the next job in Oct.

At the time I started this diary I had just inherited by husbands pensions and was renting out my house. Well that's all invested with the help of an IFA and the house is now sold money in my account and waiting to exchange on the new house. In the last three years we've moved from a big guardian shared days centre to a one bedroom flat to a 4 bed sharing with my friend.

I thInk it's well and truly time for a new diary so will have a think as I head down South and then onto my friends in Cornwall. DG is not happy about me leaving her but she'll be ok and I need to go I want to go.

Loved watching the Solheim Cup yesterday amazing finish just lovely to see it all. I want to be at the next one in 4 years. :j:j:j:j

TallGirl wrote: »

Dear all
I've been around a long time on this MFW for a long time and I love it. Keeps me on track and helped me pay off my mortgage 9 years early. I'm on the verge on starting something new so I thought I would start a new diary and focus it more on money saving and less on personal stuff. My life was quite steady and stable until April 2015 when I left my husband and took a one year job in London all made easier and more ore possible because I was mortgage free.

My job ended in July 2016 and I had hoped to stay within the organisation in a new job but I didn't get it and they didn't recruit anyone else. I am a great believer in that things will happen for the right reason and good things come to good people. Whilst on holiday and on my birthday I was told my ex had died and as we were still married I now owned the whole house plus his pensions and share in the small family business.

I applied for a new job whilst on holiday and I start that Monday its 28 hours a week with Friday's off and it's obviously on less month than my previous full time one.

I have been busy in the last two months sorting the house out so I can rent I out from October which will give me an income as well.

I have been trying to get his affairs in order so I can apply for probate and I'm getting there. So good folks if you want to read about the following kinds of topics then please feel free to read and or comment:

• How to be an accidental landlord
• How to go about getting probate and IHT sorted
• How to invest an inheritance
• How to keep accounts as a landlord
• How to save money on everyday things whilst living in London

There will be more and I often stray into personal totally unrelated money stuff so just gloss over that if you find it boring.

So here we are start of something new so a quick update on where we are with the above topics.

1. Property should be ready after 27/9 as carpets going down then. Estate agent doesn't want to market it before it's completely ready. Once painter is done need to arrange final clean and my old cleaner to hang curtains.

2. My accountant friend has suggested the valuation of the family business is ok to use and my new IFA confirmed the two pensions are outside inheritance tax so I should be able to more forward on this very soon.

3. Meeting the IFA 30/9 potential inheritance will be around £190k will need to pay funeral expenses but want to invest most of it.

4. I need to read up on how to keep accounts as a landlord not sure I need an accountant but as I'm now a part business owner I might have too. Will definitely register with Inland Revenue but as house isn't rent out yet nothing has changed.

5. Finally I love saving money from getting the best deal to using coupons and tokens. I'm very good but can also be very bad. It's expensive to live in London but I'm a property guardian so my rent is so so cheap so I should really save lots of money. I promise I'll do a budget once I get my new wages, I would rather live on this than have to use my income from my property but might be difficult :eek:.

Ok I will end there and try and keep on the straight and narrow in terms of sticking with money saving stuff.

vandanfc

TallGirl wrote: »

I thInk it's well and truly time for a new diary so will have a think as I head down South and then onto my friends in Cornwall. DG is not happy about me leaving her but she'll be ok and I need to go I want to go.

Loved watching the Solheim Cup yesterday amazing finish just lovely to see it all. I want to be at the next one in 4 years. :j:j:j:j

Looking forward to the new diary.
Are you hoping to watch the next Solheim Cup or play in it ? x

TallGirl

vandanfc wrote: »

Looking forward to the new diary.
Are you hoping to watch the next Solheim Cup or play in it ? x

Thank you VandaFC only watching it lol.

No new diary as no news re house was all excited while away I think Wednesday as spoke to solicitor and transferred deposit plus insured property not to hear nothing so in Friday I found out no exchange until completion and other side not come back to her yet. So no news.

Did have a fab time in Cornwall saw both by friends lovely time lots of eating out and shopping but I was on holiday so that was all good.

Mums move went ok so she's all in her new house sad I can't go but dg says we can go on Christmas Leave 21.12 so that's cool. Got £57 back from train delay when I went to Leeds for interview ticket was over £100 so handy. Now do I claim back the full price or not claim for the hotel. What do people think the hotel was £31.

Lazing in bed right now study today and a few other bits, list as usual.

• Look at flights for Christmas
• Study
• Pick up DGs parcel
• Bank cheque for train delay
• Do budget
• do forms for new job

TallGirl

Not done great today I just admit been lazy here is list updated

Look at flights for Christmas - booked all done
Study - very little done
Pick up DGs parcel - done
Bank cheque for train delay - done
Do budget nope
do forms for new job - yes done

Also put all my house paperwork into new filing box I got for £3 at Tesco in the sale and chucked a load out I had lying around. Much better now.

Looks like completion on house will now be 25/10 or 1/11 depending on vendor completing on their flat. I knew this would happen but they have been so good it seemed mean to ask them to move into rented when they have two dogs. Said I want to be in late Nov. Invited three friends for New Years party decided to leave kitchen until later so we can use the house.

vandanfc

Looks like you achieved quite a bit really. x

TallGirl

I did but not the study and that's the thing that really ought to get done.

Today I'm meeting ex colleague at 2pm then heading for counselling at just before 3 so need to leave here at 1pm. Still in bed it's !!!!ing down outside and dg got soaked going to work. Plans to meet other colleague and go to Tate Gallery on Friday should be nice but time is going so quickly it's scary.

List for today isn't long

Study
Study
Study

That's it's really!!

vandanfc

Hope you get some studying done today. If not go and sit on the naughty step.