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About bil8999

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  1. the idea behind it is that you can hand over the business to your kids, not just a wage, it gives them the incentive to grow, don't get involved, leave them to run it, maybe with a little bit of background help, get what you deserve to fund your life style, without paying CGT, yes ultimately there will be IHT, if it looks like its not working then sell. I always said i would work on the tools till i was 70, 3 years from now, based on the tax situation i think it will be the way forward for me, daughter will run the business, a guy that has worked with me now for 16 years will look after
  2. Scenario, lease the properties to son/daughter at an amount that would fund the lifestyle you are after, he or she can keep the rest as payment for looking after the properties, and to expand on the portfolio for the future. Any shortfall comes out of there payment, that would create the incentive for them to keep the properties occupied. No cgt Just a thought
  3. bil8999


    I have always thought that the tax payable on the sale of the bulk of the properties would prohibit me from selling, this company in my view have made a reasonable offer, its living with paying the tax that will make me decline the offer, that and the fact i have owned some of the properties for 40 years. I will have to think of something to overcome the tax situation.
  4. bil8999


    I have been approached by a company that wish to purchase my freehold properties, they are working on between 7 and 8 %, is now the time to sell? They seem to be interested mainly in the flats.
  5. bil8999


    Hi to all At what yield would you think a corporate investor would pay for a block purchase ?
  6. We also make sure that we charge less than the market rent. May take on board the 50% refund and bottle of wine at xmas
  7. I feel that over the years we have gone over and beyond to satisfy our tenants wishes. If i remember the longest serving tenant was approx 20 years, sadly before she passed away.
  8. its now been 13 months since we were last in Spain, booked a flight for September, but i have my doubts.
  9. Yes, i think i fit that mould, 41 properties, never had any borrowings, always in work, 4 lads that work with me, still got 8 to build on land i have owned since the late eighties, built a place in spain some 15 years ago, go twice a year on average, oh well tomorrows another day.
  10. So to answer the question, i think it is fading away. As Melboy said, age related, i am 67 and still on the tools working full time, always said i would keep going until i hit seventy, perhaps its time to cash in the chips.
  11. Hi to all I too am a long term owner of property, the first was some 43years ago, paid £1550, well tell a lie, done some work for a guy, he didn't pay the bill of £1550, so gave me the property next door that he owned, i converted it to two flats and have had them both rented out since, approx £9500 per year, now, if i was to sell i think the property would make circa 150k, less allowance 24k, that leaves 126k taxed at 28%= 35k , give or take a few quid, that would leave me with 115k, in the bank making nothing in interest. How can anyone think of selling at this time. At the tax rates c
  12. Hi to all. When i acquired my first property let some 40 years ago, i fully furnished plus all white goods, now if i do supply any white goods i tell the tenant they are responsible for breakdowns, also i agree with them an amount they can afford each month to purchase the white goods, then when they leave they can take them. Job done
  13. That's right, just don't be blinkered into thinking if you rent to professional people that they are any different to non professional working people, or is that just a chip on my shoulder.
  14. No, be careful, whether professional or not, my choices are made from experience over the years.
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