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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 26
    • TallGirl
    • By TallGirl 20th Jul 18, 12:24 PM
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    TallGirl
    Done my tax return profit for the rental income will be £8800 not too shabby that is what I expected really. Tax to pay £2000+ and I need to pay upfront for next year which is fine prefer that actually.

    Not done much work but hey that's how it goes weather a bit sad but Golf will be nice this afternoon
    • TallGirl
    • By TallGirl 30th Jul 18, 6:48 PM
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    TallGirl
    Nice weekend fab concert in a day VIP was good but it sure £120 was worth it spent £100 on drinks was £28 for a bottle of wine so did well with Soda water etc.

    Sunday a bit tired so just a bit of golf on the range. Didn't sleep well woke up feeling crap so took a day off sick. Dg did the same so lie in then brunch before 9 holes on a par three course we used to play. Didn't do well but nice to be back. Stopped at South African shop and got Biltong lovely it is and healthy.

    Feeling blue this evening don't want to go to work tomorrow not sure why. Think I wish I always in Denmark for my birthday on Wednesday rather than here but should be nice day as lunch with team and then late picture Mama Mia.

    Think living in London is also getting me down feels like a waiting game until we can move back but work is good and job prospects down south aren't ideal in my sector in fact pay is really poor.

    Didn't even get interview for trustee post should have listen to person I know who said they don't need my skill sets right now agents always big you up.

    Holiday is now just over a month away so that's good but think it's going to be a long month still at least there a bank holiday my birthday a long weekend away with Golf and my birthday treat later this month.

    Had a big muscle food order delivered all frozen and packed away for dinners and lunches portion sizes going back down and lunches now slightly bigger but had to last two days. Marinated grilled chicken and chicken sausages so all good stuff also Home made burgers.

    Think that is it from me as I'm feeling sorry for my self on a Monday night lol. No running for a week but going tomorrow.
    • TallGirl
    • By TallGirl 31st Jul 18, 8:39 PM
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    TallGirl
    Booked fligths to Denmark for Thursday crack of dawn coming back Monday late I can see everyone and it's two family birthdays including my dads. £300 but you can't beat family time and two are ill as my mum told me yesterday. Will be well worth it and I'm feeling better now I've done it. Work ok CEO was fine today I'm ok too with her. Counselling tomorrow so later start run first (didn't this morning as !!!!ing down).

    All good again here ready to face my birthday which I think will be fine but it's two years since I learnt ex dh was found dead.
    • TallGirl
    • By TallGirl 8th Aug 18, 7:56 AM
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    TallGirl
    Had a lovely birthday spoilt by DG and went out for lunch with team plus got cards and one had make sweet cupcakes it was so nice really enjoyed the day. Watch Mama Mia at the pictures 241 of course.

    Trip to Denmark really good y mums partner went into hospital just as I arrived he isn't good but it let my mum enjoy her self a bit more and have time for my niece and me Thursday. Went to a climbing centre with my niece while mum visited him really good fun wasn't brave enough to go on the top one.

    Friday saw my dad got his birthday present and a bit of shopping also watch the start of a cycle race with both my niece and nephew. Friday evening my sister and BIL arrived and they had our foster sister with them. Lovely time spent with all and saw my dad on his birthday Saturday and then more time with everyone Sunday before they went back. Monday shopping with mum got so many presents as everything was on sale. Also managed to see my friend who has just sold her house nd is finalising divorce all good there.

    Flight home really good landed at 8pm Home just after 9pm DG picked me up. Perfect so glad I went even if I didn't get to se my uncle.

    Dg and I are making more plans and it's really exciting, she's going alone as a consultant from April and my job end in Aug 19 so don't know if I'm staying or not. Looking at me doing the CILEX course which was eventually see me qualified as a solicitor in one special subject and I can work for DGs firm. I could start now on the learning but need three years 20 hours legal experience so unsure if current job would count but even if it didn't could still do the learning. Then when this job end I can work with dg and won't have to look for work or end up having to commute for hours ever again,

    Need a lot more research and the course is £10k total so migth need to hold back some money and not invest it just yet. More thinking to do but seems to make sense and I'm very excited about it.
    • Moneyfordreams
    • By Moneyfordreams 8th Aug 18, 9:40 PM
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    Moneyfordreams
    happy birthday

    they seem like exciting plans... good luck with them
    Mortgage restart June 2018 £119950
    zero personal cc
    6x166 for sofas ending November 2018
    £2500 on DD1s car cc
    • TallGirl
    • By TallGirl 10th Aug 18, 7:09 PM
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    TallGirl
    Thank you Moneyfordreams I do love your username so apt.

    Friday yeah long weekend then course Tuesday so good.

    Last counselling session Wednesday feels right I've come such a long way since I started. So happy and content right now. I think final piece missing was the next job but feels like I now have a plan. Joined Cilex and got my membership and paid and booked the first years training induction 13/10.

    £1500 for training and £140 for membership. Stopped paying £2000 into investment so money is there for this. Happy to spend money on my own qualification. I do have a current qualification but this is different field to mine and as dream job isn't going to happen and I don't want to work in London forever this is the right plan.

    Might seem like a quick decision to get on the course but I've been thinking about going into law for a while my original uni choice was law in Denmark but changed at the last minute.

    My two team members are fine about me wanting to do more casework one is leaving so her 25 cases will need looking after. I can do it with support from law students and my team two are actually solicitors.

    Need to buy a laptop thinking of a MAC book air, I've always had windows ones but my last one only lasted four years and battery now dead wasn't even used that much. Think I can get the Apple student discount I know I can the software free. I will get NUS card well it cost £12. Worth getting I'm sure.

    Going on the golf range now need to pack for long weekend will be such fun I know it. Raining Sunday which is a blow as it's the completion but not a lot that can be done about it.

    Hope you all have a lovely weekend
    Last edited by TallGirl; 10-08-2018 at 7:11 PM.
    • bugslet
    • By bugslet 14th Aug 18, 12:10 PM
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    bugslet
    Belated Happy Birthday TG.

    My view is that money spent on education is never wasted, so I'd go for it and it ties in with your original uni intentions.

    I think once you get a plan together about what you want to do, you will feel more your normal self.
    • TallGirl
    • By TallGirl 14th Aug 18, 7:42 PM
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    TallGirl
    Thanks for popping in Bugslet very kind of you. I was going to study law back at 21 years old but chose my degree which I haven't regretted though. Done some more research and I won't ever be a solicitors I'll be a legal executive lawyer which is fine and plenty for me (can upgrade if I want to at a later date). It's all booked now and paid for first year papers should be at work so that's all good really looking forward to it but a lot to get to grips with and I can't start until I have the paper work.

    Course to day with my team and dg really good interesting and helps with an insue I'm grappling with at work.

    Weekend Golf was fab such nice ladies and nice time had. Golf wasn't great but that was fine. More Golf this weekend so all is good. Tired tonight so only quick update last counselling session tomorrow
    • TallGirl
    • By TallGirl 17th Aug 18, 10:10 AM
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    TallGirl
    So much is happening and at super speeds. Counselling finished Wednesday back in the office just after 11 got message to call my mum. Her partner had died that morning. Expected and good but obviusly a chock. Meeting with team that afternoon was a bit distracted so left work early.

    Went to Apple store bought new IMac Pro and got student discount plus free headphones plus 20% off Apple care. Yes lots of money but needed new laptop so why not.

    Booked tickets to Denmark going today (working from home) and back Thursday then working from home Friday as office shut due to local event. So from today I'm not back in the office until Tuesday. Had to cancel all Golf sadly but can't be helped

    Amounts all of this dg gets an email from an agent Monday about a supervisor job one day a week sounded interesting so she got in touch. Interviews were yesterday and she's got it. It's £12k for one day a week and it's one year but if she does well they will employ people under her and increase her days. They no nothing about this area of law so needs her and her supervisor status. Dg really like them and how they operate and they have consultants as main owner is a sole practitioner.

    Opens new possibilities indeed as this could be another springboard to working down south in a year or maybe as part of them open up private side which is what dg really wants. I could well fit in if dg can employ staff later on but let's see first it's about her work realising her one day a week obviously.

    Also good news at my work taking new tactic with ceo told her how I was going to handle person leaving as I'm taking on the cases and she agreed for me to do the casework I wanted. Very happy with that feel like my confidence is coming back indeed which is nice.

    So need to pack and suss out what study stuff to take with me obviously meant to work from home today as well. Lucky it's August and not much going one.
    • bugslet
    • By bugslet 21st Aug 18, 9:38 AM
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    bugslet
    Sad to hear about your mother's partner but I'm guessing they were quite ill, so perhaps one of those blessings in disguise.

    It sounds as if everything is coming together for you and dg - both of you making strides forward.
    • TallGirl
    • By TallGirl 22nd Aug 18, 5:32 PM
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    TallGirl
    Funeral today all went really well over 60 people attended beautiful sunny day full of love my mum did well.

    She’s got an old family friend staying tonight and I’m going back tomorrow. Been good to reconnect with the family and I hope my mum gets back her own life.

    Saw my dad today will see him tomorrow as well. Been a good break now back to London and all it’s challenges but we have a plan and we will get there.

    Booking my Christmas flights can’t wait to come back.
    • TallGirl
    • By TallGirl 25th Aug 18, 4:18 PM
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    TallGirl
    Back home secret cinema yesterday cold and wet did spoil it a bit but a nice treat and would go again but with a different film I knew a bit better.

    Not done a lot today been to Lidl big stock up shop £76 but it's of meat. Also dropped in at the rubbish gym across the road. It doesn't do classes but we could run there in the monrning it's so close. I think after bootcamp we are motivated to work out on our own so signed up for three day pass. Cost is £43 a month for six months and £15 joining fee expensive but dg can use the one near her work and I will get it for £36 a month as I'm a student. Happy days! Not been for a run for at least a month so time to get back into it.

    Bouthg by Christmas fligths just over £200 but will only get more expensive. Think I've spent over £1000 on flights this month bu I have been back twice and I'm glad I did it. Also bought IMac so £1500 on that plus £1500 on course but hey all good I've got a plan.

    My really close friend who has my old cats finally got a jog but it's in Hackney so he's moving up here week days. Hopefully he can stay with his friend if not he can crash here but a bit small. We arent going to move now as were joining the gym but might get bigger flat would make it easier to study etc. We shall see.

    Golf tonight on the range them game tomorrow. Also booked Monday but need to study and done some work work I didn't do Friday.

    Hope you're all enjoying the long weekend
    • TallGirl
    • By TallGirl 29th Aug 18, 8:27 PM
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    TallGirl
    More spending £50 on two cables for MacBook but I resisted the £40 cover and bought one from Amazon for £12.99 plus some other stuff I needed to get free delivery so just over£20 on that order.

    Cancelled golf Sunday just playing Sunday and I'm going to study all day so catch up if I want to do two exams in January. My webinar now isn't until end of September but I booked the wrong one so that didn't help.

    Work is a bit frustrating I need to stick with my own job and taking over those new cases that's it really not get involved with crap and just annoys me.

    Can't wait for holiday one week today and we're off. Need to order currency or just use my Halifax card not sure what's best. Dg gets free airport lounge with Amex and as it's late afternoon should be nice. No mystery shop for me like I usually do just chill out instead.

    Used our free pass for the gym last night good to be back only did 30 min but enjoyed it if small and overpriced. It's £15 joining Half price as were both joining but I'll get it monthly for £36.99 as I'm a student ordered my NUS card very handy. Dg won't get that but I hope we can negotiate as were joining together. There are no classes which is a big downside but we both have the same chain gyms near work so we can use those after one month so that's not too bad I don't think.

    Hopefully stop spending soon getting quite boring.
    • TallGirl
    • By TallGirl 3rd Sep 18, 9:22 PM
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    TallGirl
    Done three sessions at the gym signing up after holiday they will accept dg and give her a discount too so that's cool. She's going tomorrow I've got haircut but she didn't go today.

    Work ok only one more day ceo away for two weeks so cannot cause me any hassle which is nice. Shouldn't be too bad tomorrow but migth be last minute things to do who knows.

    Felt really old today member of my team is 24 acts much older and was talking about her mum having a mid life crisis she's 54 omg that's me in a few years scary.

    Signed up for a Monzo card tonight been thinking about it for ages will get joint one easier to see spending immediately should be good.

    Sorted a few bits out for holiday but will pack Wednesday don't need to leave until 12. Dg has an American Express card she pays for so using her free lounge passes. Cannot wait to go will be good.

    Golf Saturday was good but we lost 5/1 but mu team one. Only ones obovusly. Dg was upset she played badly don't care about her dramas really I enjoyed myself. Free day out meal and green fee nice people too from both clubs.

    Sunday dg working and I studied got two chapters done now 41% complete of the first of five modules. It's a lot about the EU which I did at Uni but a very long time ago and a lot has changed since then.

    That's it for tonight dg getting up silly early tomorrow I'm not dont need to be in until 9.
    • TallGirl
    • By TallGirl 13th Sep 18, 8:30 PM
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    TallGirl
    Wow it's been a while since I posted we've just come back from Benidorm it was fab parties everything with Pride and then one day without where we went on a Segway tour. Really funny times people dressing up and good music would recommend it. Loved staying in the old town almost on the beach with walking distance to everything but away from most of the Brit abroad things. Did spot several of the people's features in Bargain loving brits in Benidorm so funny that programme got us to visit in the first place. Trip cost us each just over £500 and we spent £600 between us out there so all in all a cheap trip for us.

    Back now hectic work as taking over the cases from person leaving. She's left excellent notes and I'll be fine just a bit daunting. Some of the clients are very demanding so not looking forward to that but actually I don't tend to play up to that anyway too long in the game I am.

    Got some cool meetings lined up with all the right people in the next few weeks so that's quite exciting still hate commuting etc. Flat getting cold now and remember dg had talked about an heated airer before we moved in. Then saw it on Eagerlearners diary (just spotted that tonight) and ordered one from Lakeland's with all the assessories £200 a lot but room is so cold if it works as an extra heater that is a bonus.

    Got my Monzo card looks fab for budgeting I'm going to try and us it for all spending but keep my normal payments out of my current account due to the linked saver. We might get a joint one as well to track where our money goes.

    Haven't joined the gym yet will do tomorrow and then it's three mornings a week at the gym Monday and Fridays off. Will be tough as it takes me so long to get to work might need to travel on 8am train which waits 10min extra at the next station but 7.30 is a bit early if I'm doing gym as well. Thinking about getting a scooter (no engine) to get to station and at the other end. Really hate this location for work but we're not moving so end of will just have to cope.

    Need to do some study at the weekend no games booked just practice for us and lesson Sunday late. I think that's it for now.
    • vandanfc
    • By vandanfc 14th Sep 18, 11:20 AM
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    vandanfc
    Sounds like life is going in the right direction for you TG. Long may it continue.
    • TallGirl
    • By TallGirl 22nd Sep 18, 10:01 PM
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    TallGirl
    Thanks VandaFC yes all good busy at work this week as my team member left and there's so much to do with meetings on top. Getting into the swing of seeing clients they are quite demanding but I'm getting help from CEO of all people.

    Heated airer came wow it's great and it warms up the room nicely. Worked a treat today managed to get both golf bags in there as we got wet playing golf.

    Golf competition tomorrow it's a team one but weather will be foul. I really wanted to play with dg but we will be split but it will be fine still get to play and get wet.

    Been eating so badly today but did do gym four times so not all bad.

    Not done any study this weekend yet but migth tomorrow need to get moving as exams etc needs to be booked soon. Might go and see DGs mum next weekend staying in a hotel as she's got some medical issues so is off work usually she works weekend so can't always see her due to this.

    Tired early night for me tonight though.
    • TallGirl
    • By TallGirl 23rd Sep 18, 9:32 PM
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    TallGirl
    Did get out to play rain was awful went to indoor range instead. Bought two blue golf tops doe £10 each bargain down from £29 one will be for mum doe Christmas she'll love it.

    Also got £8 top for dg again reduced massively. Dg got rain gear just needed the trousers down from £79 to £54 I can wear the top as I have no rain jacket for work. I'll it her a Golf brolly instead. The we're giving away the wooden hangers for free got three nice as I needed them. Put my summer clothes away really don't have enough room for everything. Need a new pair of black trousers can't fit into my only pair and the others a way too big. Think I fall between two sizes so not worth getting any right now.

    Done some study changed the bed and will go to the gym tomorrow I've for later start due to training course. Best check start time before I go to bed.

    New airer is wonderful trying bedding on it tonight. Have had the heating on a last few days but it works well to heat up the room that thing.

    Going to see DGs mum next weekend she's got health problems really need to do some bulk cooking but it can wait a week. Lunches and dinners all planned this week and tons of shopping in fridges so no need for anything else.

    Early night is definitely needed.
    • TallGirl
    • By TallGirl 3rd Oct 18, 9:21 AM
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    TallGirl
    Wow time fly working from home today bliss not having to commute.

    Didn't go away in the end able to cancel hotel so dg went on her own Saturday just for the day so I could watch Ryder Cup and do some study at home. Sunday was just Ryder Cup watching and indoor range in the evening.

    Started using Monzo for both joint spending and my own on two cards. £350 for personal spend and £450 for joint should be ok but we shall se I love the categories and that you can set budgets. Bought a birthday present and a Christmas present this is where savings are handy but I'll see how I get on without pots for now.

    Heating has been on a lot of evenings this flat isn't great as you know reason it is being pulled down. Heated airer is great though love that and it warms up the room. Still cannot wait to move back home and live in a normal house with a garden and everything normal that goes with it.

    Gym is going well down twice this week already skipped this morning but will go Friday so that's ok. Still not quite lost my holiday weight yet 1.5 kilo to get rid off.

    Work is ok I can't remember if I updated we got funding for another person to replace the one who left. That will mean less casework for me but that could change come March when another post ends as it will then be a team of three so a lot smaller. We shall see I want to do other things so that is fine.

    My mum and I spoke last night really sad news my uncle has been taken I'll in Spain sounds like a stroke. He was found by the neighbour and is incoherent and in hospital. He wanted to go even though he has just come out of hospital so we don't think his travel insurance will cover him and he hasn't got any money to pay for convalescence home as he cannot get care in his own home no one will drive down there it is in the steep mountains. Sad but as my mum said it is what he wanted. He has three sons but only one actually cares so no much help from them I should suspect. Very sad if he does pass away no idea what happens to funeral etc my mum will want to go.

    She's ok actually really busy just got her self to be part of the ladies committee at the golf club even though she didn't want to. Also busy with her charity work and golf so all good. She's clearing his clothes out I know how hard that is but she's doing well.

    I think that is it better get on with some work as I have avoided that commute this morning.
    • Moneyfordreams
    • By Moneyfordreams 6th Oct 18, 9:11 AM
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    Moneyfordreams
    sorry to hear about your uncle
    Mortgage restart June 2018 £119950
    zero personal cc
    6x166 for sofas ending November 2018
    £2500 on DD1s car cc
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