Karmacat: I'm passionate about my DFW journey to riches

Karmacat

The shopping is really difficult, isn't it? Not spending on snacks is a huge leap forward for me - its only once a week, or twice if I go up to London on a Saturday, but even that takes a big chunk out of my budget.

As for supermarket prices, OO - well, at least you know what you're getting, the weight and so on is right there. If I go to my local everyday market, they just weigh it and come up with a price at the end, I've no idea if they've done it correctly, and it doesn't *feel* very dfw. The Sunday car boot has an excellent veg stall, huge, and you can get some real bargains - a whole box of something for 30% of even their price, let alone supermarket price - but yes, there's the cost of transport there. If I'm going out anyway, it can be worth doing, but yes, very doubtful if its even cost-effective with the transport taken into account.

Karmacat

Gemmzie wrote: »

Could you rent out the French apartment to cover some of the mortgage?

It is rented out Gemmzie I get E1578 a quarter for it, guaranteed for another 7 years. The apartment is the reason I'm in debt - I costed it really badly, i.e. not at all, and didn't realise I'd have such a shortfall. Its an investment instead of a pension, pure and simple, but I got it a bit wrong...

Karmacat

OliveOyl wrote: »

Karma, aren't you a flippin' marvel at this matched betting lark?
Isn't this part of your master plan?

oh yeah. I plan to take over the world, yanno??? Seriously, I'm not very good at matched betting - I only do football, I don't do Asian handicaps, I don't do the funny little free bet offers that come up, just straightforward introductory free bets so far. Those are things I *really* have to get my head around this year, there's too much money on the table I'm throwing away.

Two questions:
What can you lose?

Only two? Well, its the same as any matched betting, if you use the correct little software, the matcher, you shouldn't lose anything. Hypno said earlier this week (earlier today? not sure now ) that some of the paddypower games aren't strictly risk free, so I suppose there's some risk there, as paddy power is certainly one of the ones I'd be joining in euros, but apart from that its normal matched betting.

If there is suddenly a delay in funds reaching your French account do you/can you have an overdraft? (short term only)

Ah. Well, before I got used to watching the French account and transferring funds over, I did have a mortgage payment bounce.... I don't think I do. If there's a shortfall on the account with a mortgage payment coming up, I have to bite the bullet and transfer sterling over to the euro account, and hang the exchange rate. Thats why I'm working it out so carefully - I don't want to do that ever, ever again.

Karmacat

redsquirrel80 wrote: »

Did you manage to tackle the ant damage ok?

Ah yes, the other theme on my thread!!! Well, I kept brushing away the parts of the nest that were on *top* of the front steps... I've had really long days since then, and have just looked at it in passing. What I'll have to do is keep brushing it away, plus in the next few days (not today, I need a rest!) I'll cut the final bits off the plants that have grown there and given the ants their chance, then paint weedkiller on the exposed roots. I don't want the handrail collapsing because of the ants or the plants (ah, such poetry). Hopefully that will do it.

Gemmzie

Karmacat wrote: »

It is rented out Gemmzie I get E1578 a quarter for it, guaranteed for another 7 years. The apartment is the reason I'm in debt - I costed it really badly, i.e. not at all, and didn't realise I'd have such a shortfall. Its an investment instead of a pension, pure and simple, but I got it a bit wrong...

Ah I see, is there no way you can increase the rent on it at all?

Karmacat

Gemmzie wrote: »

is there no way you can increase the rent on it at all?

No, its a French government scheme to increase the amount of tourist beds in the country - its compulsory to have such properties managed by an agent. The rent will increase, and it may eventually cover the mortgage, but that schedule is out of my hands.

The problems affecting this were as follows:
- I didn't do a budget for the purchase and ongoing costs :eek: :eek: :eek:
- the exchange rate has gone against me, and because of the first point, this is really important :eek:
- the base rate in France has gone up :mad:
- my own business has been bringing in less money. Ten years ago, the money I'm paying out would have been nothing, now its ... well, everything

Thats it, really.... :cool: just got to suck it up and do the euro matched betting like crazy.

Euros in: 1578 x 4 = E6312 per annum.
Euros out:
640 x 12 = 7680 (they say this is going down to 620, but I'll believe it when I see it)
94 x 4 = 376 (managing agents)
400 accountant
95 annual tax.

Total going out: E8551, less rent of E6312 = E2239 shortfall! Makes a mere E187 to find each month from matched betting. If I start with E500, thats got to be possible, surely???? Actually, any contribution will be fine with me!

mizmir

Karmacat wrote: »

Total going out: E8551, less rent of E6312 = E2239 shortfall! Makes a mere E187 to find each month from matched betting. If I start with E500, thats got to be possible, surely???? Actually, any contribution will be fine with me!

So that's about £150 sterling? Definitely doable in a month - no problem!

The_Dragon

Karmacat wrote: »

Makes a mere E187 to find each month from matched betting. If I start with E500, thats got to be possible, surely???? Actually, any contribution will be fine with me!

Sounds very possible!! Go for it Karma and best of luck

taxi73

Go for it Karma..I'm sure you'll pull it off

Karmacat

Thanks you guys - I tried to post a reply last night, but couldn't with the forum-playing-up thing. Anyway, yes, I reckon its do-able, it will just need focus.

Great evening yesterday with bessie mate back from Germany - they've put their house on the market and decluttered, made £280 at it in one weekend! She *likes* clutter tho, so its difficult for her, but its about saleability. Its like me - nearly everything I do on the house - the garden, the windows, porch, I do it cos it helps me but also cos of the saleability/rentability factors. Onwards and upwards...

Right, today, I've got quite a bit of work on - 3 clients, plus a meeting, thats about 5 hours right there. And got to do a printout for a mystery shop tomorrow. Otherwise, its just little things today, more note-taking on trading psychology (watched the market at 8am, 14 point profit, but I slept really badly, had extra lack of confidence that I was reading the market right cos I was so tired). Coffee has helped.

Oh, and one bummer of a task: got to transfer money into current account so I can pay the taxman. Rats. Ah well, at least the money is there....