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    • TallGirl
    • By TallGirl 16th Sep 16, 2:46 PM
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    The trials & tribulations of a 1st time landlord & investor
    • #1
    • 16th Sep 16, 2:46 PM
    The trials & tribulations of a 1st time landlord & investor 16th Sep 16 at 2:46 PM
    Dear all
    I've been around a long time on this MFW for a long time and I love it. Keeps me on track and helped me pay off my mortgage 9 years early. I'm on the verge on starting something new so I thought I would start a new diary and focus it more on money saving and less on personal stuff. My life was quite steady and stable until April 2015 when I left my husband and took a one year job in London all made easier and more ore possible because I was mortgage free.

    My job ended in July 2016 and I had hoped to stay within the organisation in a new job but I didn't get it and they didn't recruit anyone else. I am a great believer in that things will happen for the right reason and good things come to good people. Whilst on holiday and on my birthday I was told my ex had died and as we were still married I now owned the whole house plus his pensions and share in the small family business.

    I applied for a new job whilst on holiday and I start that Monday its 28 hours a week with Friday's off and it's obviously on less month than my previous full time one.

    I have been busy in the last two months sorting the house out so I can rent I out from October which will give me an income as well.

    I have been trying to get his affairs in order so I can apply for probate and I'm getting there. So good folks if you want to read about the following kinds of topics then please feel free to read and or comment:
    • How to be an accidental landlord
    • How to go about getting probate and IHT sorted
    • How to invest an inheritance
    • How to keep accounts as a landlord
    • How to save money on everyday things whilst living in London

    There will be more and I often stray into personal totally unrelated money stuff so just gloss over that if you find it boring.

    So here we are start of something new so a quick update on where we are with the above topics.

    1. Property should be ready after 27/9 as carpets going down then. Estate agent doesn't want to market it before it's completely ready. Once painter is done need to arrange final clean and my old cleaner to hang curtains.

    2. My accountant friend has suggested the valuation of the family business is ok to use and my new IFA confirmed the two pensions are outside inheritance tax so I should be able to more forward on this very soon.

    3. Meeting the IFA 30/9 potential inheritance will be around 190k will need to pay funeral expenses but want to invest most of it.

    4. I need to read up on how to keep accounts as a landlord not sure I need an accountant but as I'm now a part business owner I might have too. Will definitely register with Inland Revenue but as house isn't rent out yet nothing has changed.

    5. Finally I love saving money from getting the best deal to using coupons and tokens. I'm very good but can also be very bad. It's expensive to live in London but I'm a property guardian so my rent is so so cheap so I should really save lots of money. I promise I'll do a budget once I get my new wages, I would rather live on this than have to use my income from my property but might be difficult .

    Ok I will end there and try and keep on the straight and narrow in terms of sticking with money saving stuff.
    Last edited by TallGirl; 17-06-2017 at 9:25 AM.
Page 2
    • TallGirl
    • By TallGirl 25th Sep 16, 8:28 PM
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    Nice chilled out weekend golf lesson really good went to hit some balls today I know what I was doing wrong and should now play better next weekend.

    All forms done and got my pension forecasts Saturday so just waiting for one more and I'm ready to see IFA. He can do the final check on one part do the probate forms and they can be sent off.

    Would be nice if I heard back from the one insurance company I've sent the forms to hopefully will it will be two weeks on Friday.

    Lidl shop done 149 but should last over two weeks and loads of frozen fish which we eat a lot of.

    Looking forward to work tomorrow and lunch all done so no expenses.
    • TallGirl
    • By TallGirl 27th Sep 16, 6:58 AM
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    Carpets should be going down today house is almost there will call estate agent tomorrow. Cleaner is doing curtains I think I'll get her to clean house as well once I know when it's done.

    Also joined the residential landlord association got 27% discount and it's tax deductible. They do good landlord insurances I hear. Also some handy information on their site.

    Work ok everything has been handed over but I don't quite understand it all but I can still ask. Met my old manager yesterday had really good chat about what happened which was really good and best of all she's agreed to be my mentor. That's going to be brilliant! Just need to suss out what it entails so I can let her know. Also her PA who I got on really well with is back at work so I'll meet up with her soon. She went on maternity leave but the baby was stillborn.

    Need to get out of bed now done a bit of a money shuffle and my credit card isn't as scary as it was however have to pay painter and carpet guy could really do with insurance money hopefully some news today or later this week would be so nice.
    • TallGirl
    • By TallGirl 27th Sep 16, 5:14 PM
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    Carpets are down 427 and painting complete on the house 1075 now just need a clean and curtain hung so can call estate agent tomorrow.

    Happy days and so much cheaper than other quotes I got from Ratedpeople which was close to 3k
    • TallGirl
    • By TallGirl 29th Sep 16, 6:22 AM
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    Curtains hung cleaning done today and estate agent around Friday morning but I'll miss him as I'm at the IFA. Still not sleeping well really fed up with this and DG is getting up so early every morning doesn't help as she's behind on her work. Work is fine learning a lot but lots of meeting of new people and still no desk of my own and my back is seriously not happy. Hopefully Monday it will be sorted out.

    Look forward to tomorrow seeing IFA and then two days of golf followed by seeing my good friends and the cats.

    Money wise things are ok but got those two bills to pay for house but that is it then.
    • TallGirl
    • By TallGirl 3rd Oct 16, 7:14 PM
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    Phew what a weekend so tired but had a great time. Ended up travelling down Thursday night spur of the moment got cheap hotel (61 incl breakfast). Friday I saw the IFA he was really helpful he's going to help me firstly combine my own pensions and then once the other money comes through we can look at the rest.

    House looks good needs a few more bits done so painter back Thursday 90 more but worth it. Friday and Saturday golf in a lovely hotel and then Saturday night at friends where I saw one cat Thomas was playing hard to get. Didn't spend that much money one bottle of wine that was it plus lunches at golf club. Had a really good time and lovely to see friend and cats even if I didn't see Thomas.

    Loads of mail at house Royal Mail redirection had failed so annoyed lodged complaint against them. Should be sorted soon or I'll really loose it with them.

    Cheque for total vet bill so really happy about that helped the current account which was down to 60. Must try to manage on 1000 until pay day in two weeks as I don't want to plunder my ISA.

    Signed up for pension at work and went to take probate forms to probate office only to discover I had forgotten the death certificate. Very stupid so going again tomorrow luckily it's not far from work.

    Once that's done only thing really outstanding is:
    - pay for carpets
    - phone friend and ask him to fix light back in ceiling and arrange to pay for work already done

    Lawn is growing like mad so will need to go down again in a couple of weeks. Will need final clean my cleaner is no good and the curtains aren't hung very well.

    Brother in law coming over next week hopefully meet up he will want to know what I want to do about business oh the joys.

    Work a bit frustrating want to be able to get more up to speed but I'm not still not sorted chair or desk out so annoying.

    Early night feel really grumpy so for the best.
    • TallGirl
    • By TallGirl 4th Oct 16, 8:08 PM
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    Paid for carpets, booked my old window cleaner to do the Windows inside and out plus fascias so should now be complete bar calling my friend to put light up.

    Hopefully window cleaner will get it done Thursday. Another tenant around today without the wife but they are keen so are the one yesterday but resident status could be an issue.

    Had meeting with CEO today not sure really he's nice but I miss my old one he's very business like not human at all like he wants all the answers already which I don't have. Got my desk raised just need chair brought in but hopefully Thursday.

    Handed probate forms in should be ten working days hopefully quick to get the oath sworn then done and I can apply for second pension as first one is on hold until final death certificate.

    Spending wise expensive this week due to probate 218 and carpets 437 but at least I had pet insurance claim though but it does take my credit card back up but ten days to payday not too bad should get almost a full month.

    Again an early night DG was up at six and I didn't go back to sleep not good and didn't do gym tonight which was poor as I had booked. Will try to go to one near work on Thursday straight after work meeting friend from old work I haven't seen in ages she went in maternity leave in April but baby was stillborn. Will be good to catch up saw her in the street today so had quick catch up.

    Hope everyone is well not many posts on the MFW board at the moment maybe it's the colder weather that's zapping everyone's energy.
    • TallGirl
    • By TallGirl 7th Oct 16, 5:52 AM
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    Morning DG had her alarm go off at 4am not impressed she's just left so going back to sleep soon.

    Disaster with the new upgrade to fibre doesn't work and they won't send engineer and even if they would it's a months wait. Speaking to them this morning final time then cancelling as new housemate who lives in room with all the phone sockets has agreed to set up his sky account. They should let me cancel as it doesn't work but even if we get sky it's two weeks without any internet not good.

    Work ok got my own chair in now and raised desk so no back problems hopefully. Going to be a busy week next week got to do some stats but getting to grips with things and everyone are really nice.

    Got carpets paid for and got my old window cleaner to come in and do Windows and outside bits so just need to pay him. That should now be final major bill as my credit card is now back up so 2000+ but payday is 1 week away. Still not spoken to friend need to do that

    Speak to friend get him to fit light and lock on loft hatch

    Estate agent has shown two people around but one it was too small the other might not have right to work in uk so not going with him. He says he's got more interest but nothing as yet. Rent is 1350 so a lot but not a lot else to rent in that area right now. Would be nice to get an income soon.

    Also need to phone Royal Mail redirection still no mail at my address but don't know if any is at old house. It's a week now should have had some mail.

    Going to make some calls re ex dh and also sort my clothes out so the summer stuff can be put away.

    So nice to have a day off really enjoying my four day week.

    Also need to go to lidl only fair as DG has been going in early most of the week and it's so busy Saturday and Sunday's at that shop. Golf practise tonight and chilling. So sad no internet but managed to watch GBBOFF last night on 4g by downloading it. I have 20gb data on my phone due to having Ee broadband well that will go but for now I have it.
    • FloppyDisk
    • By FloppyDisk 7th Oct 16, 10:28 AM
    • 638 Posts
    • 4,283 Thanks
    Just catching up with you TallGirl, I remember your original diary, you have been through a lot but they look very bright now. I am also starting the BTL journey so will be reading keenly!

    Mortgage Apr 18 417,894 BTL Mar 18 162,857
    Mortgage now --- 404,532 BTL now -- 161,965
    • TallGirl
    • By TallGirl 7th Oct 16, 2:25 PM
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    Wow Floppydisk thanks for popping by glad you're dipping the toe in the water too do you have a diary?

    Spent two hours on the phone to EE after being cut off and other hassle I think the issue is that they sent an out of date router as they had run out. Not happy but even more unhappy with them as they refused to help any more as the new guy here has told Sky he wants to take over the number and this is set for the 20/10. I don't mind but so fed up I just wanted to cancel but the cancellation team was quite nice and they are sending a proper router out I will get mid next week. If that work I can stop Sky if not I can still cancel and be ok. So fed up with no internet but got loads of data on my phone which will stop if EE broadband goes.

    Shopping done for DG and me 70 in Lidl should last two weeks so not bad. Paid all my bills left with some cash and 100 to last me until payday Friday. Have got 1200 credit card bill but 400 is % and the rest I should be able cover with wages.

    DG is on her way back from court were going to hit some golf balls then have a chilled out evening drinking low alcohol beer and much later vodka and coke.

    Oh and finally someone stole two of my four garden chairs from a cube rattan set I have really irritating. I think it's a homeless person as two brollies also went complete with heavy feet and why not nick the whole table if you wanted to flog it. Hopefully I can get replacements as I like the set.
    Last edited by TallGirl; 07-10-2016 at 2:31 PM.
    • TallGirl
    • By TallGirl 10th Oct 16, 7:14 PM
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    Lovely weekend went far too quickly mostly chilling and golf so all good.

    Met ex bil and sil they paid for dinner at favourite restaurant nice. Not greedy money grabbing talk so that was good two potential buyers for the business one which is a pair of scumbags that stole my ex dh business from him after he set them up in business so would rather not them but money is money. No mention of premises so I didn't mention it either they can't actually sell them anyway as they are in dh name.

    Bit of a boring day at work an induction course but not very interactive just listening to a load of stuff.
    • TallGirl
    • By TallGirl 13th Oct 16, 8:56 PM
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    Fab day out at the golf free with Sky tickets 33.50 saved each but travel was 10 each and food drink about 15 but well worth it if very cold.

    House not rented so dropped price by 50 hopefully soon going down to empty the last 21/10 should be last time if tenants or I shall have to go down regularly to do the lawn.

    Mail seems to be redirected now finally hopefully will hear from probate soon and I can claim the one pension. Payday tomorrow still 300 in current account but 1500 on cc so will clear as much as I can. Trip to Denmark next month but should be cheap as I have kroner over there. Also need to book flight for Denmark for Christmas.

    Still no internet EE never sent the promised router and the one they did send was faulty such shoddy service I raised a complaint. So now for three going one with Royal Mail and Santander as well but letter might be at house about that one.

    So tired bed soon and work tomorrow DG will be home her mum is coming to visit for the first time she's been here 10 month so hopefully will be good she's staying over as well.
    • TallGirl
    • By TallGirl 15th Oct 16, 4:34 PM
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    DG mum has just gone back she could sleep on the mattress on the floor but apart from that it was an ok visit. She's very negative but towards the end she thawed a bit towards me.

    Got my free Lego and free waitrose coffee at the local shopping centre but apart from that not done a lot. Going to watch X factor and chill this evening DG and her mum stayed up until 4am don't know how they do it.

    My wages has been paid I though they we wrong but I got six weeks worth due to the way the pay cycle works so can clear the interest paying part of my credit card. Interested tenant and one more viewing today so lowering the price worked, hopefully get someone soon. Meeting estate agent Friday when I go down next,

    My Dyson is not working properly but must be fixable so will have a proper look tomorrow.
    • TallGirl
    • By TallGirl 17th Oct 16, 9:01 PM
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    Exciting news they have found me a tenant
    A solicitor who wants to move in 1/11 and has two cats and a dog. Checked her out on the law society and she works for a large well known local firm so far so good.

    I know many warn against pets but I am fine she will pay a larger deposit and the house is perfect for pets.

    Work a bit boring but meeting CEO tomorrow might help. DG is a bit fed up too about her job but speaking to a friend helped her. A friend also called me and I'm seeing three girlie friends from my old golf club Friday which is really nice. Gym tomorrow and hopefully hear from gym re personal trainer feel it's the only way for us to get back on track even if expensive worth it.
    • vandanfc
    • By vandanfc 18th Oct 16, 8:33 AM
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    That is great news.
    • TallGirl
    • By TallGirl 23rd Oct 16, 7:52 AM
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    Had a lovely Friday met with neighbour and had a quick catch up. Saw estate agent all paperwork done and it's still looking like 1/11 moving in date. Then had lunch with 7 friends from the club and then off to see an 8th plus her husband who's been helping me with jobs to fix up the house.

    Then rushed back tried to get a lock for the loft hatch but it didn't work so neighbour will have to sort that out. Back home at 8pm sad to leave for the last time but also exiting that new family and pets will live there.

    Got my landlord insurance sorted out, and the forms completed for estate agent just got to scan and email.

    Letter from one pension company at house they will consider paying out if I send marriage certificate and probate so might not have to wait until after the inquest which is good news.

    Had a chill out day yesterday did the shopping and I got my free Lego for my nephew which was great I think this was the last one though still five packs for very little money as I like the mail. Today is free activity book but it's two miles to he nearest shop to collect it so not bothering.

    Booked eight weeks of personal training paying for DG a lot of money up here but think it's worth it she is not getting to the gym and I miss going with her plus I need more motivation. First season was Wednesday now it's Monday scary .

    Money wise I'm doing nicely as six weeks wages instead of a month. I have spent a lot on the house but that's at an end now at least.

    Re all my complaints not heard anymore from Santander, EE I might have missed a call but got 24 first class stamps from post office so that was nice plus extended redirection.

    Today I need to unpack the rest from my house, DG wants to hit golf balls. Hope you all have a lovely weekend.
    • TallGirl
    • By TallGirl 24th Oct 16, 8:33 PM
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    So sad it was all coming together and then the tenant pulled out not leaving her ex husband yet so house back on Rigthmove. Onwards and upwards.
    • SuzieSue
    • By SuzieSue 24th Oct 16, 9:32 PM
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    So sad it was all coming together and then the tenant pulled out not leaving her ex husband yet so house back on Rigthmove. Onwards and upwards.
    Originally posted by TallGirl
    Really sorry to hear that, but it happens and has happened to us a few times over the years.

    You can't be certain of anything until the tenant pays their deposit and first month's rent.

    At least you know that your house is desirable so you should find someone else soon.

    Did you ask them to pay a non-refundable holding deposit before you took it off the market?
    • TallGirl
    • By TallGirl 25th Oct 16, 7:54 PM
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    Hi SuzieSue thanks for popping in shed paid for the credit search that was all really sad story he's staying with ex husband as he might have cancer. Let's hope it's not a ploy although you don't wish cancer on anyone.

    Fingers crossed someone else comes along estate agent is good and I can drop the price a bit more but there's nothing else for miles like mine which is so near to the secondary school. Long day agm after work.
    • TallGirl
    • By TallGirl 28th Oct 16, 8:17 AM
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    Still no tenants turned down single mum on benefits with four kids as local housing allowance wouldn't cover rent and I'm sure she'd have ended up with bedroom tax. Four dogs maybe, four cats yes not four kids house is too small.

    So glad it's Friday even if I have a bit to do so better do list

    CPD points
    Prepare letter to pension company 1
    Prepare letter to pension company 2
    Fill in form for unclaimed dividend on ex mils estate
    Food Shopping (really don't want to)
    Try and fix dyson speak to helpline
    Sort through tools from old house and store properly

    I think that will do can always add more. Probate office called yesterday I had made an error on the middle name all fixed so fingers crossed it comes through soon hence prepping the letters.

    Gym tonight was 6 but changed to 7.30pm means less time to drink tonight which is a good thing. Only just stopped hurting since last PT session definitely worth it.

    Money wise not great paid 560 for sessions for DG and me until Christmas expensive but will be good so happy about paying and she cannot afford it. Money will be a bit tight but I'll manage and need to stop buying lunches at work. Really could do with houseing renting out had to pay insurance which I could've done without also water and sewerage bills etc. Really should call them and inform them might get discount.

    I think that is all from me for now oh and still no internet maybe by the 31/10 house mate is dealing glad it's not me. EE has credited 55 not sure that's right but don't care as long as I don't get huge final bill. Also had 100 from Santander but no letter so not sure what it's for. Glad I have the two books of stamps post office gave me. Really handy.
    Last edited by TallGirl; 28-10-2016 at 8:25 AM.
    • TallGirl
    • By TallGirl 28th Oct 16, 9:52 PM
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    Yeah I did the whole list part from the CPD points which are really work so could be done in work time.

    Gym session good next week it's Thursday we're seeing him so I hope to go Sunday and Tuesday get back into a routine. Had two tiny beers and one vodka and coke frankly ready for bed so tired.

    Love having these Fridays off.

    Oh and spoke to water and sewerage don't have to pay those and sorted CT so I don't have to pay anything just yet. Quite money saving day really even if the dyson is still broken and they don't do parts for it anymore.
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