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Below 20yrs old and looking for the best way to start.

Last post 26 Jun 2009, 3:49 AM by shubh. 10 replies.
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  •  23 Feb 2009, 9:49 PM 724915 in reply to 724362

    Re: Below 20yrs old and looking for the best way to start.

    Shem,

    I think considering the tax rates is not the right starting point. It is good that you are wanting to make money, but it is not a case of making £25,000 on a property in a year. There are numerous ways of building a porftolio - BMV, refurb, development, conversion to name a few. Each will have it's own tax implications (some income, others capital gains). If you are talking about getting into BTl property then that may be just buying a property and renting out to tenants. in the current climate, unless you are able to find very high yielding properties (10% and higher) tax won't be a major issue as various costs - mortgage repayments, tenant finding, repairs & maintenance, letting agents fees, service charges etc will all erode any profits you make.

    Hope that helps,

     

    Godd Luck to you!


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  •  09 Apr 2009, 8:07 PM 755837 in reply to 484028

    Re: Below 20yrs old and looking for the best way to start.

    Hello Shem,

     

    If you are near Guildford on 19th April - we meet at a property networking event that is full of very capable people and you won't be sold anything.

    http://nicktadd.ning.com/events/event/show?id=2946592%3AEvent%3A1082&xgi=7uXB9KD

    Cheers - Richard 


    Richard Francis

  •  26 Jun 2009, 3:49 AM 804532 in reply to 484028

    Re: Below 20yrs old and looking for the best way to start.

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    Taxes depend upon the income, however you may get exemptions by saving for various schemes. If you want to invest, invest for insurance plans, you will get tax benefits also. Normal 0 MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman";}

    Investing for mortgaged property is also a good option.

     

    legal foreclosure:.
    http://foreclosureworkouts.info/
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