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  • FIRST POST
    • TallGirl
    • By TallGirl 16th Sep 16, 3:46 PM
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    TallGirl
    The trials & tribulations of a 1st time landlord & investor
    • #1
    • 16th Sep 16, 3:46 PM
    The trials & tribulations of a 1st time landlord & investor 16th Sep 16 at 3:46 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 10:25 AM.
Page 22
    • TallGirl
    • By TallGirl 6th Jan 18, 9:47 PM
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    TallGirl
    Done three runs this week and went with DG tonight to do her first one but she!!!8217;s left her adaptor at work so had to borrow mine so i didn!!!8217;t have any headphones. I!!!8217;m pleased with my progress we!!!8217;ve also done some floor work tonight, plank and twists.

    Spendy day today booked our holiday to Gambia cannot wait going 2nd March dor a week in same top room we went last time b&b only but it!!!8217;s quite cheap out there. DG has had to borrow £1500 of me she will pay be back over the next year.

    Also spend £20 on stuff for bootcamp and spent £30 on hiking boots for DG for bootcamp. Went to play golf but left my shoes behind actually thought I have lost them. Luckily I hadn!!!8217;t which was a great relief as they are super expensive and had my insoles in them.

    Need yo sort my money out will have to take the holiday out of the savings I have but as a lot of my regular savings are maturing that will be ok.

    Doing well on cutting down on caffeine just had a chai latte at home really nice but feel a bit funny now. DG brought some black butter back from Jersey my gosh is it lovely with cheese and biscuits, we will be back on the low carb diet tomorrow and I!!!8217;ll do my next run as well. Fitting some golf in only went to the range today as no shoes.
    • TallGirl
    • By TallGirl 7th Jan 18, 10:18 PM
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    TallGirl
    Did a run to support dg yesterday and also a bit of floorwork then Golf today now I have my shoes and back to floorwork and then after dinner another run which makes it 4 in the first week
    Dg wants to try and do it every day so we get it done before bootcamp not sure how realistic it is but we shall see. We got some £3 head torches they are great glad we got them and my thermals are lovely and comfy.

    Bed now to tired should sleep well from all the excercise. Next week back to no carbs so sweets and bread out put all the Danish sweets away so nothing bad in the flat. Hopefully loose some kilos before we go up to 82 kilo I really want to be 75 as I don!!!8217;t thInk I!!!8217;ll get down to 70 which I was at my fittest three years ago. Why did I let it go now I can barely do Russian twists for one minute.

    Money still all over the shop will have a good look later in the week and do some shuffling. Night night all.
    • bugslet
    • By bugslet 8th Jan 18, 12:40 PM
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    bugslet
    HNY Tallgirl, I've found you again!

    Makes me tired just reading all that exercise! I managed to complete my walking 2017 miles in 2017 challenge - no prizes for guessing what this years challenge is......

    Good luck with all the bootcamping!
    • TallGirl
    • By TallGirl 8th Jan 18, 8:19 PM
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    TallGirl
    Hiya Bugslet lovely to see you again thanks for popping in well done on the 2017 miles thatís amazing Iím up to running for 90 seconds now in week two as weíre now doing everyday have since Saturday. Both enjoying it which is amazing as DG is very overweight so not easy for her.

    Got a letter on Saturday from travel company we had just booked with offering us £50 each booking. Well I emailed them as we had booked that morning and they agreed to apply it £50 off just for one email very MSE Iím sure would be proud. If you donít ask you donít get.

    Work ok not too busy yet will be though and Iím away for first week of February and March when the stats returns are due will have to do them on the first instead a bit tight but doable.

    Money shuffle done borrowed money from savings for holiday so need to update my signature. premium bonds still to come in so will look a bit better and I paid both Mine and DGs bootcamp in December.
    • TallGirl
    • By TallGirl 9th Jan 18, 9:03 PM
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    TallGirl
    Savings account looking awful as I gave DG her £5k back and I kept them invested in premium bonds in her name. Needed to shuffle money to make my monthly payments into investments and savings for pensions. Really must transfer the flexible account over but the other one ends 31/1 so may as well wait. Both pay the same actually.

    Done 6 runs since Monday that!!!8217;s more than you need to do as we have ramped it up however having a rest day tomorrow I!!!8217;m working late we!!!8217;ll going to a charity dinner thingy so going into work late I can claim the time back so need to work from home but no need to get up early. Commute this morning was horrible was late so missed direct train but as it happened it was late so waited for it only for it to change and not stop at my station so had to change where I normally do. Cost me at least 30 minutes.

    Anyway need early night
    • bugslet
    • By bugslet 12th Jan 18, 8:11 AM
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    bugslet
    I'm terrible at moving money round - mind you most of it is where I can't get my mitts on it ( work), there isn't much to shuffle!

    Well done on the running. You need a rest day!

    Catch up with you in a week, I'm away for work next week.
    • TallGirl
    • By TallGirl 14th Jan 18, 11:59 AM
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    TallGirl
    I'm terrible at moving money round - mind you most of it is where I can't get my mitts on it ( work), there isn't much to shuffle!

    Well done on the running. You need a rest day!

    Catch up with you in a week, I'm away for work next week.
    Originally posted by bugslet
    Thanks Bugslet hope you are having a relaxing weekend before being away.

    Musclefood delivery yesterday big curry made in two slowcookers and everything bagged up for freezer. Shopped at Lidl first time in ages down think Iíve ever spent £140 in there but loads of nuts for homemade granola and meats etc. All good value. Granola bars made as well and did make it to Golf too.

    £50 paid out for referring dg to RateSetter she wonít get her £100 until sheís had£5k in there for one year but mines paid out so happy days . Going to use it to go out for our anniversary dinner in Feb. If anyone wants a referral code for them please let me know they pay about 3.5% to 4% interest on a rolling month so you can always get your money out within 30 days.

    Today no run did that yesterday it was fine only 23 min but Next week will be 5min running in one go Iím doing 3min now.

    Booked malaria tablets for two weeks and golf lesson so look forward to Gambia cannot wait. Bootcamp first but we will get fitter before then.
    • TallGirl
    • By TallGirl 17th Jan 18, 1:50 PM
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    TallGirl
    So this week isn!!!8217;t really going to plan as I went to work Tuesday and felt unwell so I have now been in bed with this flu like thing and I!!!8217;m so bored but still not well enough to go back to work. I hate being ill but it!!!8217;s three years since I last had time off work being proper ill so actually quite good.

    Did my run Monday but obviously nothing yesterday and I!!!8217;m unable to do it tonight might walk down to the park with DG. Done some money shuffles one of my fixed savings accounts are maturing 31/1 so moved it into a flexible one and withdrawn £15k from the other flexible account as I!!!8217;ve !!!8220;run out of funds!!!8221; to pay into my pension and investments monthly. I!!!8217;m not sure when I!!!8217;ll see my IFA again but it!!!8217;s about a year ago so assume soon.

    Investments are doing quite well £4K up on one and £2k up on the other pensions all transferred as they should be now so much simpler and ISA topped up and cash ISA moved into innovative ISA will be invested soon.

    Need some lunch and struggling to even post on here so think I need more sleep.
    • TallGirl
    • By TallGirl 18th Jan 18, 1:13 PM
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    TallGirl
    Still off sick but slightly better done some money shuffling the joys I love it. Savings account back to what it was before holiday booking because DG is paying me back it gets a bit messy so keeping it as it was. Other savings account will now have enough for 4 months of monthly payments into my investments. Satandar regular saver applied for and standing order all set up and filled first month. Not sure where to move the balance I need to pay for a headstone for ex DH so might be for that. M&S account matured so as I!!!8217;m switching to Nationwide I!!!8217;m not setting up a new one (got a bit fed up with it anyway as you have to use the key card to log in. I only missed one months £10 credit o the gift card so £210 made from that switch if I recall right. Nationwide will be good as I!!!8217;ll get 5% regular saver and £100 for switching and so will dg so that!!!8217;s good.

    £2000 waiting in RateSetter still it!!!8217;s creeping up towards the 4% so leaving it a bit longer. 6 days to that pays out £100 so another nice tart bonus.

    Saw the MSE money show yesterday interesting that Martin is now saying savings accounts instead of ISAs now with the rate you can earned before paying tax. I know the show didn!!!8217;t say anything about investments but seems to me S&S ISA!!!8217;s are the way to go to max the allowance no point in cash ISA!!!8217;s unless you cannot face risk. Shame he didn!!!8217;t cover about peer to peer lending guess its risky too.

    Anyway back to trying to get better.
    • SuzieSue
    • By SuzieSue 18th Jan 18, 1:53 PM
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    SuzieSue
    I am glad that you are feeling better TG. I am still waiting to go down with the flu as everyone else has had it so I am sure I will get it soon.

    I know what you mean about M&S - it is so painful doing anything with the key card. Also, the website is not very responsive.

    I am grateful to you as I only opened my M&S account because you wrote that you had opened one. I managed to open it on new year's eve 2016 before the benefits were downgraded on 1.1.17. My husband opened one on the same day so between us we got £440 of gift vouchers.
    • TallGirl
    • By TallGirl 21st Jan 18, 7:13 PM
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    TallGirl
    Aw Suziesue that is so cool that you got in as well glad my ramblings are helping others really nice to know. Cool you got in just before the deadline and got the full reward. DG has sent off to refer me to Naitonwide so I shall be off. Need to speak to my letting agent as I!!!8217;ve emialed twice and he!!!8217;s not responded or changed my address so need to speak to him to find out what is going on. Most annoying and don!!!8217;t want to mess my rent income up if I don!!!8217;t have to.

    Still feeling crap not done a thing this weekend other than feel sorry for myself. Lost two kilo and still not a lot of appertite. Really want to get to work tomorrow but feel rough so not sure. I don!!!8217;t get sick pay but financially it doesn!!!8217;t bother me I would rather feel well enough just annoying and boring.

    Did managed my week four run and felt ok doing it even though it was hard and it !!!!ed down really wet indeed but done if not very slowly.

    Had my bath feel rubbish don!!!8217;t think I!!!8217;ll be long out of bed, dg is getting fed up with me being ill but so am I.
    • Tahlullah
    • By Tahlullah 21st Jan 18, 7:30 PM
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    Tahlullah
    Hope you get better soon TG.
    Striving to be mortgage free.
    2018 MFW #135

    £600 of £2000
    • bugslet
    • By bugslet 22nd Jan 18, 9:14 AM
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    bugslet
    I had my 6th and 7th days off in nearly 27 years in December with this flu thing, so you have my sympathy. Poor dogs were seriously missing their walks! Hope you feel better soon.
    • TallGirl
    • By TallGirl 22nd Jan 18, 4:34 PM
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    TallGirl
    OMG that is bad I was on the other 5th one today but I!!!8217;m going in tomorrow I!!!8217;m feeling better so by tomorrow I!!!8217;ll be fine I!!!8217;ll take it easy though. My team has been brilliant while I!!!8217;ve been off.

    Applied for Nationwide account cannot find my M&S card hope that!!!8217;s not an issue. Asked for £500 overdraft got declined quite funny as I!!!8217;m actually good for the money but don!!!8217;t need it it!!!8217;s just going to have rent coming in and a few DDs.

    Made this https://www.bbcgoodfood.com/recipes/bircher-muesli-apple-banana got it from another MSE diary blog really like it when I get them in Pret so hope it will be nice. Not sure DG will like it but if she doesn!!!8217;t more for me. Dg on her way home peace will be gone soon. No run tonight legs ache.
    • bugslet
    • By bugslet 25th Jan 18, 10:54 AM
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    bugslet
    I like a bircher muesli, you can play around with it quite a lot. I often use just apple juice rather than faffing grating an apple.

    Strawberry yogurt can work nicely too if you are doing one with mostly berries.
    • TallGirl
    • By TallGirl 29th Jan 18, 8:08 PM
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    TallGirl
    Still loving the Bircher musli dg doesn!!!8217;t like oats so tried it without which was fine.

    Weekend good meal out as dg had one meal for two with wine only cost us £15 as we wanted pudding and it was lovely nice to do something like that for a change. Had some black rusians when we got back yuck hungover the next day not good but cheaper than drinking out.

    Running programme doing well still love it can now run 2x8min but the big one is Wednesday 1x20min. Bootcamp is Friday so last run Wednesday. Dreading bootcamp but going so not a lot we can do now wish we had done a bit better on the ab work but hey ho at least we did the running.

    My Zopa ISA is now opened and old one transferred in I think it will be around the 4% it will pay. RateSetter really low now I have 4K in there not sure if I move it once I get my £100 incentive.

    Other investments doing well pension and S&S isa as well as other investments last two up by £3k and £2k so very happy with that.

    Need to post key to my house second time but will get that done then three days work. Won!!!8217;t get paid for sickleave but got full wages this month so will worry about that next month. At least we won!!!8217;t need to spend anything at bootcamp it!!!8217;s all included but malaria tablets where £60 and I bought dg a tracksuit as she!!!8217;s given me a posh hair treatment so only fair.

    Moneybox down £1 but only £72 in it so ok. Taking lunches to work so being good.

    That!!!8217;s it not a lot else to report.
    • TallGirl
    • By TallGirl 31st Jan 18, 8:32 PM
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    TallGirl
    Completed week 5 of the couch to 5k and ran 20min both of us so pleased sets us up for bootcamp.

    Good day at work my two new team members are actually ok they need a bit of shaping to the project (been doing another job for a long long time.) I can now see it working including my own role so that is good.

    Last day tomorrow working with CEO all day but pretty much up to date so can go on leave for 6 days

    Managed to get 2k invested in RateSetter at 5.3% for one year usually go for rolling month to mint but the rates are 3.5 so worth a go.

    Chilling tonight really tired but pleased I did do the run.
    • TallGirl
    • By TallGirl 11th Feb 18, 8:13 PM
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    TallGirl
    And I!!!8217;m back from bootcamp it was an amazing but very tough experience learnt a lot and did lots of excercise indoors and outdoors. Met some amazing women who I really gelled with, dg was a star did everything even though she was the largest, shortest and oldest bless her. Came home a dresssize smaller, 8 inches less around hips, bust, belly and arms plus a real positive attitude. Been chilling Friday but did lots of shopping Friday and Saturday plus went to the driving range. Today we played 10 holes of golf without feeling knackered so so nice. Main thing I took away was our potion sizes were way out they really were. At camp we had 5 meals a day two were snacks so trying to replicate that as it suits my blood sugar anyway. I would recommend the camp but my god it!!!8217;s hard you basically exercise 7.5 hours a day and live on 1200 calories but it certainly works.

    Back to work tomorrow but not long until Gambia. Not felt like even looking st my works emails all week so not going to do it now. Won!!!8217;t be long out of bed but most of the washing is done and lunch prepared for tomorrow plus dinner and lunch Tuesday all sorted ready to go. Breakfast in the fridge.

    Obviously not spent a penny at camp but did buy my travel card but that!!!8217;s it. Sorted car insurance out tonight they had wrongly sent me a renewal with only two years no claim not 5 so got that corrected but even then found a new cover for £70 less. I didn!!!8217;t look at quidco or the dir3ct sites but used Meercat so we can get two for one on cinema. Shame our anniversary is on Monday week so will have to pay full price.

    I have checked my investments it all looks fine even if it has fallen but at least I didn!!!8217;t invest the inheritance in Denmark quite a good move I think.
    • Tahlullah
    • By Tahlullah 12th Feb 18, 12:11 AM
    • 871 Posts
    • 4,877 Thanks
    Tahlullah
    Great news about enjoying the Bootcamp and the weight loss.

    Welcome Back

    Tx
    Striving to be mortgage free.
    2018 MFW #135

    £600 of £2000
    • bugslet
    • By bugslet 12th Feb 18, 9:26 AM
    • 6,156 Posts
    • 29,610 Thanks
    bugslet
    As per Tallulah and you found something that pays 5.3% - woohoo.

    Well done on all the bootcamping...I really don't have that motivation, it was all I could do to take the dogs out for two short walks yesterday in all the rain/sleet/snow. Brrrr.
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