ATB'S Frugal Foray to Freedom

atypicalblonde

£800 OP made :j

shangaijimmy

:T So envious of that big OP number!

atypicalblonde

shangaijimmy wrote: »

:T So envious of that big OP number!

Thanks SJ, we have quite a way to go but big OPs like that help.

Interesting discussion with DH today. There is an asset (office building) connected to his business that he bought 10 years ago. It is, truth be told, surplus to requirements - I do all his admin and work from home satisfactorily. I suggested getting it valued with a view to sell, and he was on board to my amazement.

It's a company asset so we would have a tax faff to sort (what's new!) but could realise anything up to £30k equity. I've booked a viewing with a local agent for next week and will take it from there....

greent

Oooh - now that could make a serious dent in the mortgage! x

michelle09

Wow, £30k is awesome. Hope it goes well.

atypicalblonde

£999 OP made & valuation booked for next week of business premises.

Both kiddies up a lot in the night last night so verrry tired now. Easy tea then early nights all round

atypicalblonde

Morning all,

No OPs to report this morning, although today will be a NSD which is always good. I've joined some FB selling sites that specialise in some of the branded clothing the children have, so will list a few bits this morning.

Need to wrap a couple more gifts too, almost time for the big ho ho ho! Just need the kiddies to break up now, but that's not until next Thursday :eek:

shangaijimmy

I have to confess that i always break up a week before the kids and love that time off, at home with peace, quiet and dog walks!!

CathT

Great to read that a lot of your recent stresses seem to be resolved. You are super oganised with christmas presents, I have still have lots to buy and haven't even bought any wrapping paper!

atypicalblonde

Good evening all,

Well we are limping towards the end of term here, the kiddies break up tomorrow and we all need a well earned rest.

I have one final biggish OP to make tomorrow then we are done for the year. Once that clears I will post our year end figures and targets for 2018.

In other news, we had the valuation done which gave us food for thought. There is a tenant in there at the minute, they pay below market rent but at the time we were of the view that we wanted someone in there quickly to cover the mortgage payments. There has been a fair amount of wear and tear to the place since we let it out too.

So the options are:

- sell it with current tenants in situ & not spruce up would clear us around £10k equity (it's a poor yield for any landlord investor at the current rent and they are in the middle of a 12 month lease)

- get rid of tenants at end of lease, spruce up and then market to sell. Would clear us around £45k equity!

The latter is obviously preferable, however would mean that we need to start saving fairly hard now to a) cover the sprucing up costs - around £2k and b) cover the mortgage and council tax whilst its vacant until it sells.

The bottom line is we don't need the space anymore, and don't need the headache of being landlords. I know the latter is exposing us to more risk (it mightn't sell for months, if at all, and we would have to stand all those costs).

Thoughts appreciated please!