what can i buy for 50k?

robwend

il just hide some of it in someone elses bank. prob the easiest way

blue_monkey_2

Hi Robwend,

Just adding to the holiday caravan idea for you. We looked into this once upon a time when the business was going OK. Basically you bu a 'park home' you sign up with the company that leases them on the park and you have to give up the caravan for at least 5 weeks in the summer - this is your obligation Bearing in mind if you bought a 'gold standard' van for around £30k (even less than this) you would get around £800 a week in rent after the fees have been taken off - and this is just for the summer so even if you earned£100 a week for another 30 weeks of the year it has to be worth looking at. The van will be paid for so the income will be yours.

With 50k you could even buy 2. The best resorts will bring in more money so grab hold of the Haven/Park Resorts brochure and see what resorts charge the most for a weekly stay and get a ncie looking van with things that someone would need (travel highchair, TV, DVD Player, Microwave Freeview etc..) and you'd also get an additional income on top of this. Then when your kids have finished school and you do not need the income you can sell the vans and get a lump sum back.

I hope this helps but do not disregard it totally without looking, the money will be 'gone' and you can choose to 'bank the money' and the pay you all in one lump sum at the end of the season. So for now there is no money left - plus you also get 2 weeks a year to take the kids away and no paying top prices for a weeks holiday meaning you also save a fre thousand on a Summer Holiday (if you want to stay in the UK). If you want some more info please ask and I'll see if I can dig anything up from when we was looking 2-3 years ago.

Hope everything goes well for you.

robwend

cheers blue im gonna have a nose. do they deduct all there ground rental then ect?

PasturesNew

robwend wrote: »

fraid not lol, i have to live off most of it. i cant just invest 50k and walk into council and say ooh ive brought a house>as they told me on phone lol>coz they will make me move to wales!!! lol then loose me job kids school ect ect. its a no winner.il end up far worse off on income suport!! noway hosay!, but im sure i can LOOSE say 20k. ive plenty of freinds who will help.

There's nothing wrong with moving to Wales.
I did, because it's got good jobs, low housing costs, access to beaches, good transport links.

robwend

i think my kids would be very unhappy hunny, being taken away from there dad there freinds and there schools and then mum on dole............hmmmmmmmmm nup dont do it for me lol

robwend

looked into the caravan idea. they only garrentee you sublet for the first year then your on your own, plus then you got all site fees, and the caravan will loose value at the same time. was worth a look mind you thanks xx

blue_monkey_2

Who did you look with? I am going to have to look as when we initially looked into it they never had that restriction. Was that with Haven? I'll have to have a scout round when I get 15 minutes and see if I can find info on the companies we was going to use. Basically that company gets paid, deduct their % - their % included all of the sites fees and ground rents so you did not have anything to worry about just letting the home out. They would get it cleaned between lettings and sort out handing the keys over. We worked out that by buying a home for 30k we would get that money 'back' in about 3 years if it was only let for half the year. But the better the van the more you get for it each week (depends if you have heating for example it puts you in Gold catagory).

Let me see if I can have a nose around before dinner but it is probably better to go away for a weekend and speak to someone there and come away and have a think about it.

robwend

thx blue yes anymore info you can get would be fab. i will prob give them a call

blue_monkey_2

Hi again,

OK, if you have a van under 5 years old (so from new you could go on the guaranteed income scheme with park homes:

http://www.park-resortsownyourown.com/guaranteed.asp

Then up to 7 years the Letting scheme:

http://www.park-resortsownyourown.com/holidayLetting.asp

I would go for the minimum standard you can have to meet maximum earning potential, the silver and bronze vans are cheaper (anything from 6k) but the people who let them might not look after them so well. Also have a scout around on eBay to see what is on offer. Some are already placed and you just take over from them really.

If you bought 2 new vans then after 5 years you could sell both and buy one and then rent it out again on the Guarenteed letting scheme again. Get some figures together first and see if it works for you but got an have a look at them.

You might even find some that are a year old or ask about the ex-show vans that are cheaper but mean you'll still get a full 4 or 5 years let time out of them - you might even be able to afford 3 Vans, drop to 2 after 4 years and then one after another 4 years to keep the money coming in. You might have earnt more money to buy more vans.

The thing is that you have the cash to negotiatE on prices rather than buying on finance but even if you was to be able to 'earn' £100 a week guarenteed through letting 3 vans over the summer you are still earning an additional £300 a week (3 vans at £5k pa - you can get this for 7 eeks in the summer!!) subject to taxes you then have to pay of course. I am not sure but maybe turning yourself into abusiness and using the money as capital might be a better idea as you would not be earning until the end of the year when you self assess but check this option out.

Remember though, when you have your own holiday - a week in each van - you may be able to claim travelling expenses and stuff like that because you are off to check on your own van!! Order the brochures, have a look through to see what are the best parks to be on, get some feedback from the websites offering these schemes and think about the money you may be able to make long term.

Of course, as someone else said the boob job might bag you a rich old man and then you'd be laughing. This did make me smile

xx

robwend

thx blue. yes boob jobs happening either way lol. i think to do something like your suggesting requires far more knowledge and time. times not really on my side to sort out such complex situation,i think for now i will remove someof it from bank and get someone else to handle it till im more settled and have a idea of what i can do legally without shootin myself in foot... xxxxxx wend