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House Price Crash Forum


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Everything posted by FIGGY

  1. Did you hear on the radio, I think it was radio 4 that they sounded like they were in the builders pockets. They asked about H2B pushing up their profits but the question went something like. I'm not suggesting Help To Buy inflates your profits but do you think its been helpful in making your business a success. Complete and utter sop to the house builders
  2. I'm not sure you would, interest makes up most of the payments in the first half of the mortgages life
  3. Urm I think the count was just making a nice little pun
  4. I've had a mixed bag. Sainsbury's took a massive chunk of extra margin when we put prices up earlier in the year, Tesco and the others held it (tesco was a big battle to get it through) could just be our buyers but in years gone by they would always have passed it on and normally taken a bit extra for themselves
  5. It bizarre that the writer states a crash will be averted as pent up FTBs will buy in as soon as they can afford it, but that misses the most simple of economic principles, that people will hold off buying waiting for it to get cheap if prices fall
  6. Why can't we do the same, a change in the law and 1000 tax collectors and they rake in £1.5bn in year 1 http://www.bbc.co.uk/news/amp/39337325
  7. Think its same to say the same can be said for housing. Just compare the size and quality of a new build to a 1940s place
  8. Thanks D. I've decided to take myself away from the business for a week to get my head together. Don't feel I can make the biggest decision of my life whilst swamped with work. Fingers crossed for a moment of clarity
  9. Thanks Bubbles, I think they will want me to run it separately for a while and then see which bits overlap, who has the strongest teams etc then start to consolidate to get the savings (100 day plan still to be drawn up, but as you say min 6 months of not changing the fundamentals seems sensible). Saw our solicitors to look over the contract, the non compete is very very very heavy so I have quite a lot of work to do on that part otherwise I could find I'm locked out of working in any associated area for many years and have to use my capital to feed myself, I feel I need to look at the non compete alongside the employment contract an tie in period etc not in isolation which is how its currently being viewed.
  10. Thank you, if the shares were publicly traded then I would probably agree, but I would have a very very small share of the acquiring company which makes it even harder to sell. They also have a very aggressive expansion plan so I would be open to heavy dilution. I'm also very risk adverse and feel they may make it big but could also crash an burn - just may opinion and I don't often get these things right in my personal investments....
  11. Thanks you for that, is so hard to find people willing to talk about their experience and the people I know in the industry that have sold have either done so for a lot more and have been set for life or have "sold" as part of a private administration and have really just offloaded debt and any personal guarantees. We have steadily grown our business but mainly in turnover, although I do have a good directors package £130k+ PAYE equivalent so that cant be underestimated. I know that to move the business forward it will require a huge commitment from me over the next 5y and I'm not sure if I have it in me, its also not the type of business that is very easy to sell (I cant say the type as there are so few it will be easy for someone to find out who it is). A trade sales is really the only way and with a very very limited market. I have a real love/hate relationship with my current business, I do love the people and what we have built but hate the grind of HR issues, constant chasing my tail and general worry. Investment wise I do have to remind myself £400k is a lot of money (easy to overlook when you talk about houses prices but vs most other things its a lot). The deal is 100% cash almost all up front with a very small true up figure, I also know that there are quit e a few business that would like me to work for them and I could probably get an equity stake in them as part of any future package. In the end I guess I have no idea if I will like working for someone else unless I do it.
  12. Thanks all, still need to negotiate the tie in period but they are very keen to have me in over the long term, I on the other hand am hoping I can keep it short. 2y max As far is industry, its not ideally placed in a downturn but it has a twist and during 2007 we did well so I don't think that side of things has a big influence. My fellow shareholder is a lot older so he would be quite keen to crystallise the value in the business as he moves closer to retirement.
  13. Just a couple of thoughts in two veins really: I’ve had a very fair offer for my business of which I’m one of two shareholders of which I have a significant but minority stake. The deal which is currently in DD but a long way forward will probably go ahead and would give me £400k post tax & a well remunerated job afterwards (unless/until they decide my face doesn’t fit in new co). Has anyone on here sold before for a similarly small amount i.e. not life changing £2m+, what did they think, did they enjoy going back to work for someone etc (I’m under 40 so have a decent chunk of my working life ahead of me). As we enter what is looking like an inflationary period and a majorly devalued £, would other people be reassessing what getting a chink of cash in means or are there always opportunities for capital growth in either environment i.e inflation (should) drive rates and therefore savings returns. Are there any big things people would suggest I consider? It’s been difficult enough making the decision to sell and now the market uncertainty is making my head spin
  14. Wow just seen the share price of the house builders, they are the biggest FTSE fallers 20%+ drop in one day!!!
  15. It seems strange to put a business into admin over a 0.8m loss when it made 3.1 m the year before.
  16. Not sure but I think a lot of people would dump this in a pension and then it is tax free
  17. Don't know about Lidl but Aldi are great, proper signed contracts, simple payments and deliveries they are a dream compared to the others
  18. if you can find someone who will factor 100% of debt for a sensible cost if at all I'll give you a prize. Generally its 80% at most. Also there isn't one business I know who wouldn't rip your arm off for upfront payment. I've never had an FD tell me the terms with retailer x are too short!
  19. I love this kind of reply. I've had the begging letter from morrisions and it was treated in the way they always are by me, which is telling them to go jump. 30 days are good terms but the Joint Business Plans in place with a retailer are built on the FULL trading terms. I've said we will happily move to 60 days if we can re negotiate our JBP to compensate I.e. its cost neutral. Do also note that one of the reasons that Morrisons need to offer factoring as because is probably going to get a lot more expensive to factor their debt as their credit rating gets worse. Final point is that all retailers up up to this sort of thing. Waitrose were very lazy and sent a demand to all supplier for a x% discount but I just ignored it.
  20. I do, the majority of my staff work from home, but its the process of asking and then rejecting that will cause problems and what flexible actually means.
  21. As a small business owner its a worry among all the other regulatory worries. I seem to spend too much time talking to our solicitors to avoid being taken to court by our employees on redundancy, restructures etc This is just another things that our employees can use against the small employer and I can see the "my flexible working was rejected due to sex/age/race discrimination" card being played at some point
  22. As a small business owner its a worry amounts all the other regulatory worries. I seem to spend too much time talking to our solicitors to avoid being taken to court by our employees on redundancy, restructures etc This is just another things that our employees can use against the small employer and I can see the "my flexible working was rejected due to sex/age/race discrimination" card being played at some point
  23. Not that im a big fan of his but I bet there is a big gap between the £1bn and what is realistically owed. £10m may not be that much of a discount and we cant on the one hand slate the DM for saying house price worth X and then believe them when they say tax bill woth Y
  24. That's a really bad idea as you are committed to the purchase but the mortgage company can pull out for any reason between exchange and completion. Don't forget its you who is committing to the purchase not the mortgage company. If it's a cash purchase the its not an issue
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