Fresh News On Rfd House Search

[right_freds_dead]

been thinking about buying recently. obviously off put by site and economy, but also frustraited waiting. i need to expand my business a bit. i was going to buy a house, then rent a unit. then i though. BUY A FARM.

so,

i called my accountant. he says i can put part of this tax on the interest of the proportion of the building i use for my business, which i would guess could be about 60% - use an annex and out building as office. i would be bette 2-3 full time employees anyway by feb - all things going well. though that bit of the farm is subject to capital gains tax - which i am not bothered about. as i will be still living in it all my life with no need to move ever again.

rather than go up the ladder it makes sense for me to skip over it. buy a farm and run the business from there, rather than rent a unit. i can also put some into sipps he says. hes mouth is watering. so is mine,.

this has tripled by budget, but hell. i think im going to go for this.

in for a dollar. ive seen some big places and converted barns for the new 300k budget up here int'thnorth.

his opinion on house prices.

'if you were buying and wanting to sell within 2 years - be afraid."

5 years, less so. 10 years. no problem. these things go in ups and downs, but long term always wins."

hes right.

[erranta]

been thinking about buying recently. obviously off put by site and economy, but also frustraited waiting. i need to expand my business a bit. i was going to buy a house, then rent a unit. then i though. BUY A FARM.

so,

i called my accountant. he says i can put part of this tax on the interest of the proportion of the building i use for my business, which i would guess could be about 60% - use an annex and out building as office. i would be bette 2-3 full time employees anyway by feb - all things going well. though that bit of the farm is subject to capital gains tax - which i am not bothered about. as i will be still living in it all my life with no need to move ever again.

rather than go up the ladder it makes sense for me to skip over it. buy a farm and run the business from there, rather than rent a unit. i can also put some into sipps he says. hes mouth is watering. so is mine,.

this has tripled by budget, but hell. i think im going to go for this.

in for a dollar. ive seen some big places and converted barns for the new 300k budget up here int'thnorth.

his opinion on house prices.

'if you were buying and wanting to sell within 2 years - be afraid."

5 years, less so. 10 years. no problem. these things go in ups and downs, but long term always wins."

hes right.

Room for a Pimms distillation plant and Flossie on yer doorstep!

You've hit the jackpot RFD!

[theChuz]

i like the idea of owning a farm, personally i woulndt buy anthing just yet but all our circumstances are differnt.. but if your ademant about buying then hell.. why not a farm.

[Goat]

his opinion on house prices.

'if you were buying and wanting to sell within 2 years - be afraid."

5 years, less so. 10 years. no problem. these things go in ups and downs, but long term always wins."

hes right.

Not sure he is.

You might recover most or all of your loss over a 10 year period but will still be in a much worse position by buying at the top of the market than waiting for the bottom.

Consider a property bought for £100. In 3 years it is worth £70, 7 years later it is worth £100 again.

Wait 3 years, buy property for £100, in 7 years it is worth £143, a difference of 43%.

Or to put it another way, wait 3 years and be 50-100k better off on the average house.

[IMupNorth]

Have you been on the wacky baccy again Fred ?

Do you know how much even unconverted farms go for ?

Last I heard you were going for an ex council house - pretty big jump from that to a farm ?!

[dogbox]

Go for it Fred, I love this kind of dual - edged purchasing.

You might even be able to let - out parts to small business's. Where I live in Hertfordshire, letting - out small units on farms to business has really taken off. This is due to lack of available business space.

Even if planning turn you down, just keep apealing until you wear them out.

Just think, you might even find the mortgage is completely covered by letting. BTW, might not be a good idea to tell any lender you intend to let parts as this pay put thier access to the security in conflict with the other dwellers / users.

Ignore the pessimists, really, otherwise you will regret in 5 years.

[mightytharg]

been thinking about buying recently. obviously off put by site and economy, but also frustraited waiting. i need to expand my business a bit. i was going to buy a house, then rent a unit. then i though. BUY A FARM.

Don't forget the main benefit. Once you have a farm, tax payers' money will pour from Europe into your welcoming arms. Don't worry abour expanding your business just relax and take the cash.

[iamconfusedagain]

Have you been on the wacky baccy again Fred ?

That is why he wants to buy a farm, plenty of room to grow a few plants. I dare say you could pay the mortgage too

[Catch22]

this has tripled by budget, but hell. i think im going to go for this.

in for a dollar. ive seen some big places and converted barns for the new 300k budget up here int'thnorth.

his opinion on house prices.

'if you were buying and wanting to sell within 2 years - be afraid."

5 years, less so. 10 years. no problem. these things go in ups and downs, but long term always wins."

hes right.

oh thats it then RFD's accountant has an opinion on the housing market.....sorted.

My first accountant I ever had advised me to "aviod" a business I was interested in buying He never saw any accounts or even viewed the property, anyway I bought it for 10K in 1975 sold it in 1980 for 59.5K......495% profit in five years.

Anyway it does not matter what Fred buys it at coz he will sell it for what he paid for it coz he's a carring socialist.

Anyway like I say too the Son-in-Law when he rings me about my daughters latest brainwave that he worries about......apply the 24 hour rule.... ignore it coz in 24 hours it will have changed shes a woman for chriss's sake

Anyway Freda like ILBB implies, best of luck finding a farm with habitable outbuildings fit for your employees to work in for 300K

Edit: Now if your accountant had said, in two years your 300K asset could be worth 240K or even 210K or even less. And looking back over those last 2 years it looks like it is heading even lower still .........will you think, I happy with that ....well will you ..............I don't think so

Edited November 22, 2005 by Catch22

[Without_a_Paddle]

Will there be any bulls on your farm RFD?

Better start choosing some names and deciding on their accommodation...

[Carabansity]

Will there be any bulls on your farm RFD?

Better start choosing some names and deciding on their accommodation...

Nah, it must be a 'funny farm'

Fred, any wacky lyrics for Old MacDonald...

[right_freds_dead]

after reading the welcome posts. im still stuck on the idea. even with some of the negatives that were pointed out.

dont forget. if i buy a 130k semi i STILL have to rent out a unit for at least £900 month + possible rates.

its a viable proposal AND i have found quite a few on rightmove 300k or less.

this asset may go down to 210k but i would if not STILL have to had been paying the unit rental - which would have gone up. its does make sense to run this business on the doorstep and use the asset for my home also. i could not do this without being able to write off a good proportion of tax through it.

and i can also get some of into a sipps i think.

im going to push on in this direction for a bit. see what happens.

one things for sure. crash or not crash. i cannot continue to become obsessed with this. its driving me crazy posting here. ive been here a year and im still renting a minnow.

[ʎqɐqɹǝʞɐɥs]

after reading the welcome posts. im still stuck on the idea. even with some of the negatives that were pointed out.

dont forget. if i buy a 130k semi i STILL have to rent out a unit for at least £900 month + possible rates.

its a viable proposal AND i have found quite a few on rightmove 300k or less.

this asset may go down to 210k but i would if not STILL have to had been paying the unit rental - which would have gone up. its does make sense to run this business on the doorstep and use the asset for my home also. i could not do this without being able to write off a good proportion of tax through it.

and i can also get some of into a sipps i think.

im going to push on in this direction for a bit. see what happens.

one things for sure. crash or not crash. i cannot continue to become obsessed with this. its driving me crazy posting here. ive been here a year and im still renting a minnow.

the hpc puppet master finally reveals his hand?

[right_freds_dead]

the hpc puppet master finally reveals his hand?

i wish i was that methodical. these properties would have been worth half in 2001.

no matter what happens, crash or stagnation i dont feel we'll see that again.

i am still getting shafted. only if i apply a long term plan then i wont need to move up the ladder. i will be sorted from day one. after 5-10 years i should be sailing along. if not i can always split the buildings up and rent parts out.

makes a lot of sense, though its a shocking figure.

saying that some 2 ordinary looking bed flats in london cost more.

[Catch22]

i wish i was that methodical. these properties would have been worth half in 2001.

no matter what happens, crash or stagnation i dont feel we'll see that again.

i am still getting shafted. only if i apply a long term plan then i wont need to move up the ladder. i will be sorted from day one. after 5-10 years i should be sailing along. if not i can always split the buildings up and rent parts out.

makes a lot of sense, though its a shocking figure.

saying that some 2 ordinary looking bed flats in london cost more.

I understand where your coming from RFD, you have got to do what you think is best, besides none of us have a crystal ball to see into the future. If your itching ya gotta scratch it

[London Landlady]

after reading the welcome posts. im still stuck on the idea. even with some of the negatives that were pointed out.

dont forget. if i buy a 130k semi i STILL have to rent out a unit for at least £900 month + possible rates.

its a viable proposal AND i have found quite a few on rightmove 300k or less.

this asset may go down to 210k but i would if not STILL have to had been paying the unit rental - which would have gone up. its does make sense to run this business on the doorstep and use the asset for my home also. i could not do this without being able to write off a good proportion of tax through it.

and i can also get some of into a sipps i think.

im going to push on in this direction for a bit. see what happens.

one things for sure. crash or not crash. i cannot continue to become obsessed with this. its driving me crazy posting here. ive been here a year and im still renting a minnow.

I thought you were a bear? a couple of weeks ago you wanted everyone to march in protest?

Is this the throwing in of the towel? a sort of if you can't beat them join them?

[right_freds_dead]

ill be still a bear. though if i do this ill be quite a grizzly one.

i could save a few quid waiting. im sure they will fall a reasonable amount over the next 3 years. my circumstances are good in one respect and bad in another as regards housing. i suppose if prices crash my lending might tighten ect. i can wait for my own accomodation, but id rather expand the business right after new year. i am already behind in that respect.

dont forgot half of it will end up being business offices so all its not as it seems here.

[Europa]

after reading the welcome posts. im still stuck on the idea. even with some of the negatives that were pointed out.

dont forget. if i buy a 130k semi i STILL have to rent out a unit for at least £900 month + possible rates.

its a viable proposal AND i have found quite a few on rightmove 300k or less.

this asset may go down to 210k but i would if not STILL have to had been paying the unit rental - which would have gone up. its does make sense to run this business on the doorstep and use the asset for my home also. i could not do this without being able to write off a good proportion of tax through it.

and i can also get some of into a sipps i think.

im going to push on in this direction for a bit. see what happens.

one things for sure. crash or not crash. i cannot continue to become obsessed with this. its driving me crazy posting here. ive been here a year and im still renting a minnow.

So.... you're saying that people on here are being negative? And that renting would be a waste of money? And you can stick the whole thing in a sipps?

U-turn indeed

[Casual Observer]

I thought you were a bear? a couple of weeks ago you wanted everyone to march in protest?

Is this the throwing in of the towel? a sort of if you can't beat them join them?

Good job the march didn't go ahead. Would have been embarassing for the press to interview him about the hardship facing FTBs, and then the following week they find out he's bought a farm.

No bounds to greed, self-interest and hypocrisy it seems.

Edited November 23, 2005 by Casual Observer

[London Landlady]

LL - I noticed that you posted the other day that you were 'a property bull and always will be'

Is it not possible to change one's view when confronted with evidence ? I'm a lifelong athiest but if God tapped me on the shoulder and introduced himself I'd have to think again.

There's not much point in these forums if every person here has already made their mind up and won't change.

Buckers

Of course he can cahnge his mind - its just a bit dramatic - rather like your God analogy!

I would like to feel in some small way that my views are now loved and appreciated - the first convert.................................................etc

[uro_who]

How much are the farms down your way fred, here in derbyshire a crap one is £750k, a nice with with no outbuildings is 900k and a decent one with outbuildings is 1.5-2 million.