£121K debt payoff - challenge accepted

pidge04

Hello!

If you sold your rental, would it enable you to clear your debt?

Sorry if you’ve already addressed that here.

Wish you well!

pidge04

I wondered too whether you live in an area where you could be a host family for foreign students? Don’t know whether that’s a possibility and whether you have the space.

april_hunt

My husband does a lot around new builds and that so he knows a lot of trades so that helps and if it saves us bugging the landlord we will do so he’s pretty flexible we fitted cctv as there was a few burglaries in the area he was fine. We do need a new cooker and he said he’d pay I feel quiet bad but the place is out we are slowly getting there it all takes time. Do you not have any friends in the trade that are able to help with repairs? Unsure how bad or what the repairs are

Loved catching up with your diary keep doing what your doing! Xx

savvysarah

pidge04 wrote: »

Hello!

If you sold your rental, would it enable you to clear your debt?

Sorry if you’ve already addressed that here.

Wish you well!

pidge04 wrote: »

I wondered too whether you live in an area where you could be a host family for foreign students? Don’t know whether that’s a possibility and whether you have the space.

Thank you - I would LOVE to sell it, unfortunately we bought it just before the crash in 2008/09, and the values round there haven't even recovered to pre-crash values. Its on an interest only mortgage so we've not made a dent in it, and at the moment we would struggle to cover the mortgage if it sold :mad:
Students may be something for the future - I don't think they would appreciate our bare plaster walls, lack of proper flooring, and frequently tantrumming 3 year old :rotfl:

savvysarah

It never flippin rains does it....

I got an email from the letting agent today - a garden wall has fallen down (how? how does that just happen???) and another plumbing issue has arisen. I could cry

Chrystal

I'm probably teaching my granny to suck eggs,( ) but is it possible to get Landlord Insurance? I think it also covers you if you have a period of no tenants... but it's probably expensive? :eek:

savvysarah

Chrystal wrote: »

I'm probably teaching my granny to suck eggs,( ) but is it possible to get Landlord Insurance? I think it also covers you if you have a period of no tenants... but it's probably expensive? :eek:

Ah no don't worry - all comments/suggestions greatly appreciated! We do have landlord insurance, and we've just submitted a claim for all the recent repair work we've had done - our first ever claim in 10 years! It has been a particularly horrendous plumbing/electric problem this year :eek: I've no idea if the garden wall is covered ( or even if its our wall!) but I'm not sure if we can put in a second claim while the first one is ongoing anyway....need to research this week.
And we've never had a problem with no tenants really, its a very renty area so demand is always high and its a nice house....just apparently falling apart a bit

savvysarah

april_hunt wrote: »

My husband does a lot around new builds and that so he knows a lot of trades so that helps and if it saves us bugging the landlord we will do so he’s pretty flexible we fitted cctv as there was a few burglaries in the area he was fine. We do need a new cooker and he said he’d pay I feel quiet bad but the place is out we are slowly getting there it all takes time. Do you not have any friends in the trade that are able to help with repairs? Unsure how bad or what the repairs are

Loved catching up with your diary keep doing what your doing! Xx

Thank you! The rental is where we used to live and we used to manage it ourselves, a lot of Husband's friends there are in different trades so they did help out sometimes...but often as they were doing it as a favour it wasn't done as quickly as we needed. Our current tenant is VERY anxious and would ring over and over again about a problem (e.g. once she rang 14 times while I was changing a nappy about her electrics and it turned out it was just the trip switch that needed switching back on :cool: So.…..we decided to start using a letting agent as the phone calls and messages were becoming unmanageable, and they use their own tradespeople. Its been working really well, just this year there has been an ongoing plumbing/electric issue - a leak through the kitchen lights and we haven't been able to find the source. So EVERYTHING has been investigated/repaired, and its been a nightmare!

Apologies for the lengthy reply - it has been a lengthy job!

savvysarah

Evening!

Happy New Year to you all! We made it and we're all still here! December was bonkers busy, mainly with the kids so I hardly posted but I didn't fall entirely off the wagon, although I did use the cards a small amount

However, we are another £1K down (I must update my sig) and we have a tight, tight budget for the month ahead. St@rling account set up with pots, husband on board with weekly money chats and I'm feeling hopeful.

Except....the rental. I had an email from the agents just before Christmas, a garden wall has completely collapsed. Total nightmare and we've been given a quote for £3000 to fix it!! :mad: So the plan is to get in touch with the adjoining neighbour, get more quotes and hopefully share a smaller cost than that. How does a garden wall just fall down??? Its been standing strong for 100 years! Actually maybe that's my answer :rotfl:

Buffythedebtslayer

My GOD Savysarah you need a new tenant! 14 times about a tripped switch??

So sorry about the wall. Can you replace it with a fence? Would that be cheaper? that must be cheaper?

I would definitely try for a new tenant. When are you allowed?

very good to be 1K down in the circumstances XXX