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chucknorris

Crashy_Time wrote: »

How is the portfolio fire sale coming along?

Absolutely great! Thanks for asking, this is how it went:

We sold a 4 bed house in Hackney for just over £1m (bought for £110k in 1997, for cash, no mortgage)

We sold a 2 bed flat in Battersea for £440k (bought for £84k in 1991, £115k mortgage), although Rightmove had it at bought at £85k, maybe I forgot, but I'll see when I do the CGT calculation.

But you know what Crashy, with all this equity coming our way, and having to find an alternative investment home for it, it makes me realise just how good property was/is! In fact, we are going to invest a lot of it, in property by upgrading our main home by buying something for about £600k more than the value of our current house. We have realised that is probably where we will enjoy spending the equity most, having a lovely home to live in and appreciate everyday, again thanks for asking.

Nice to see bag of wind taking an interest too, by thanking your post, he'll no doubt also be pleased by the huge equity we released, good luck guys. Once again, thanks for your support.

Crashy_Time

chucknorris wrote: »

Absolutely great! Thanks for asking, this is how it went:

We sold a 4 bed house in Hackney for just over £1m (bought for £110k in 1997, for cash, no mortgage)

We sold a 2 bed flat in Battersea for £440k (bought for £84k in 1991, £115k mortgage), although Rightmove had it at bought at £85k, maybe I forgot, but I'll see when I do the CGT calculation.

But you know what Crashy, with all this equity coming our way, and having to find an alternative investment home for it, it makes me realise just how good property was/is! In fact, we are going to invest a lot of it, in property by upgrading our main home by buying something for about £600k more than the value of our current house. We have realised that is probably where we will enjoy spending the equity most, having a lovely home to live in and appreciate everyday, again thanks for asking.

Nice to see bag of wind taking an interest too, by thanking your post, he'll no doubt also be pleased by the huge equity we released, good luck guys. Once again, thanks for your support.

Got links to these fabulous houses?

chucknorris

Crashy_Time wrote: »

Got links to these fabulous houses?

I don't think that they were particularly fabulous Crashy, £1m isn't a lot in Hackney, and £440k definitely isn't in Battersea. But as I previously told you the estate agent has already taken them down, don't you remember me saying that to you when you also asked me a few days ago about the Battersea flat?

chucknorris wrote: »

I was going to show the link, but surprisingly the agent seems to have taken it down, even when you filter to include recently sold.

Crashy_Time

chucknorris wrote: »

I don't think that they were particularly fabulous Crashy, £1m isn't a lot in Hackney, and £440k definitely isn't in Battersea. But as I previously told you the estate agent has already taken them down, don't you remember me saying that to you when you also asked me a few days ago about the Battersea flat?

Lost two links, that is careless. So all properties sold then?

chucknorris

Crashy_Time wrote: »

Lost two links, that is careless. So all properties sold then?

Not lost, taken down by the agent.

No we still have the following investment properties: 3 flats in Battersea (mine), 2 houses in Hackney (wife's) and one house in Tottenham Hale (shared).

My wife has no intention of selling soon (she's thinking around 12 years), I don't think that I'll hurry too much to sell my remaining flats, property pays too well, more than shares. But I'll probably have sold them over the next 6-8 years, I also have to manage the existing capital gain of my shares, I need to switch to more diversified shares without incurring too much CGT. My shares value now exceeds my property equity, or rather it will when I receive the equity (I don't complete until 19 May) and invest it.

Crashy_Time

chucknorris wrote: »

I don't think that they were particularly fabulous Crashy, £1m isn't a lot in Hackney, and £440k definitely isn't in Battersea. But as I previously told you the estate agent has already taken them down, don't you remember me saying that to you when you also asked me a few days ago about the Battersea flat?

I can find three properties sold at that price in Hackney this year at that price on LR, so some buyers obviously disagree? Or am I searching wrong?

Crashy_Time

chucknorris wrote: »

Not lost, taken down by the agent.

No we still have the following investment properties: 3 flats in Battersea (mine), 2 houses in Hackney (wife's) and one house in Tottenham Hale (shared).

My wife has no intention of selling soon (she's thinking around 12 years), I don't think that I'll hurry too much to sell my remaining flats, property pays too well, more than shares. But I'll probably have sold them over the next 6-8 years, I also have to manage the existing capital gain of my shares, I need to switch to more diversified shares without incurring too much CGT. My shares value now exceeds my property equity, or rather it will when I receive the equity (I don't complete until 19 May) and invest it.

Have you actually completed on any of the properties, because you have been braying about them being sold on here long enough?

chucknorris

Crashy_Time wrote: »

I can find three properties sold at that price in Hackney this year at that price on LR, so some buyers obviously disagree? Or am I searching wrong?

Disagree about what? I don't know what you are trying to say?

Isn't there a delay on the LR, my wife only completed about a month ago.

chucknorris

Crashy_Time wrote: »

Have you actually completed on any of the properties, because you have been braying about them being sold on here long enough?

No I haven't, one completed about a month ago, and the other is due to complete on 19 May. Why is it so important to you? You seem more concerned than me about it, not that I am concerned at all.

I said upfront that I wanted to complete after the turn of the tax year Crashy, did you forget? I said it enough times, and that is what I did, that has allowed me to hang onto the CGT (approx £67k) for another 12 months.

Crashy_Time

chucknorris wrote: »

Disagree about what? I don't know what you are trying to say?

Isn't there a delay on the LR, my wife only completed about a month ago.

Disagree that "£1m isn't a lot in Hackney," if this were the case surely these 1million pound gaffs would be flying off the shelves? I thought it was your property that was 1 million, not your wife`s? I`m not expecting yours to be up yet, because it still hasn't completed, but I`m saying that property at this price isn`t a big seller in Hackney, not this year anyway? Of course maybe I added a zero or something, I will check.