Jump to content

multiple rents and money earned


property man

Recommended Posts

hi all, was wondering if anyone had given up work to become a full time landlord and if so how many property's you need to make this pay?

i do my own maintainance and intend to start my own company and pay myself from the rental income, i currently let 5 property's.

any help would be great, thanks. :D

Link to comment
Share on other sites

Are you looking to start a Limited Company with rental properties in it??

Tread very careful as this is not as attractive as it first seems - if you have not done so already seek tax advice before you put anything in to motion.

Regards

Sherena Glanton CTA

(Plym 77)

Link to comment
Share on other sites

Its a shame that your post hasn't had more replies as iam interested in going down the same road as you.My accountant told me not to hold properties in a Ltd.company as you would have to sell your existing portfolio to your company and thus incurr capital gains tax.As far as how many units you would need obviously depends on what net profit your earning and what personel outgoings you have to cover.My job is looking unstable and so I have been thinking of just biting the bullet and going into it fulltime but im still researching the mortgage side of things.self employed,self cert,no 3 years accounts etc.Hope everthing goes ok for you if you do decide to escape the ratrace.Adam

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...