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classixuk

Can't Afford A Btl To Make You Rich?

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Hi Everybody.

I am thinking of buying a small business as I cannot afford a BTL.

I was looking at a BTL property that will cost £900 per month mortgage, and rents for £750 per month. Now I know that the rent is less than the mortgage, but a lesson I have learned from the bulls is to look at it the other way around. I will be paying just £150 per month to buy the place! In 25 years time I will own the property outright (and it will have risen in value substantially).

Unfortunately I cannot get a mortgage of £200K so that idea has gone out of the window.

However, there is a small business for sale for £100K that I can get a 25 year loan to buy. The business makes a loss of £75 per month, but my thinking (thanks to the bulls) is that surely if I buy it and fund that loss for £75 per month it will be worth it in 25 years time? After all, I will own the business outright and will be able to sell it at a much higher price than what I am paying for it today.

I'd appreciate a pat on the back from the bulls seeing as I have woken up and taken their philosophies on board!

:D

P.S. Tesco and B&Q haven't got a clue. They are constantly moaning about profits. Don't they realise how much they can sell their shops for in 25 years time? Perhaps we should put them right. ;)

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hehe... nice post!

My comments to those that would take such things seriously -

... perhaps my beliefs are now outdated... maybe I'm just too grounded in common sense... possibly even there is a new investment paradigm...

but... to state the bleedin obvious... for all those Bulls...

Why don't you consider investing in something which MAKES YOU MONEY!

- Pye (Property Speculation Ninja :ph34r: )

Edited by pyewackitt

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Pye - (Property's Your Enemy)

I think you would be surprised what a good creative accountant can do for you. Losses can be carried over to another year/set against other areas of your business; and it is unbelievable the number of tax dodges some people get away with. One 'business" man i spoke to last week, has set up pension funds for his children/grandchildren even though he is single and 25! True? i am not sure, but he reckons it "helps" his tax bill???

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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