Other investments outside of window cleaning

[Pjj]

Medals and gold. Got a mate who works in the industry and gives my wife and I good advice 

So do you keep this in a safe at your house or in a safety deposit box in a bank ?? 

 

[Part Timer]

So do you keep this in a safe at your house or in a safety deposit box in a bank ?? 

I doubt very much he'll say he keeps them in the house ?

 

[steve garwood]

So do you keep this in a safe at your house or in a safety deposit box in a bank ?? 

Nosey b*****d! My mate keeps them in a safe in his office in Mayfair London. It’s insured and I have paperwork of authenticity 

 

[Pjj]

Nosey b*****d! My mate keeps them in a safe in his office in Mayfair London. It’s insured and I have paperwork of authenticity 

Lol didn’t mean to be nosy but you cannot have stuff like that laying around the house . You must trust him a lot I would rather put stuff like that in a safety deposit box that only I had access to . 

 

[steve garwood]

Lol didn’t mean to be nosy but you cannot have stuff like that laying around the house . You must trust him a lot I would rather put stuff like that in a safety deposit box that only I had access to . 

My mate Fat Dave has bought over 130 grands worth of gold and medals of our mutual friend, and keeps it in a suitcase in his loft ??

 

[Pjj]

My mate Fat Dave has bought over 130 grands worth of gold and medals of our mutual friend, and keeps it in a suitcase in his loft ??

I know nothing about gold prices but a quick google search seams to imply that platinum is dearer than gold  at the moment ???? But priced do seam to fluctuate . 

 

[Jonny 67]

Lol didn’t mean to be nosy but you cannot have stuff like that laying around the house . You must trust him a lot I would rather put stuff like that in a safety deposit box that only I had access to . 

Agreed. There's only my wife that I would trust looking after my hard earned...

 

[Cghwindowcleaning]

I have been looking at buy to lets lately.I believe the tax you pay on them has changed?? @Pjj

A few of my mates have been selling theirs.

I could be wrong but from what I'm reading it seams you pay tax on the whole amount you rent the property for.

Where as before you only paid tax on what you where left with after mortgage repayments.

For example if you rent it out for 1k a month you pay tax on the full 1k even if the mortgage is £500?

Watches are a good investment although getting one from an authorised dealer is near on impossible.

 

[Part Timer]

Watches are a good investment although getting one from an authorised dealer is near on impossible.

I actually buy good fakes, not as an investment but it saves me a fortune having to buy real ones.

 

[ched999uk]

I have been looking at buy to lets lately.I believe the tax you pay on them has changed?? @Pjj

A few of my mates have been selling theirs.

I could be wrong but from what I'm reading it seams you pay tax on the whole amount you rent the property for.

Where as before you only paid tax on what you where left with after mortgage repayments.

For example if you rent it out for 1k a month you pay tax on the full 1k even if the mortgage is £500?

Watches are a good investment although getting one from an authorised dealer is near on impossible.

Stamp duty for second properties is an additional 3%.

I believe that the change was that you used to be able to offset 100% of the mortgage interest against profit. I don't believe it was ever offsetting 100% mortgage payments.

Also remember that if you come to sell you have to pay capital gains tax on the profit (diff between purchase and sale price minus an allowance)!

PS I'm not an accountant ?

 

[Pjj]

I have been looking at buy to lets lately.I believe the tax you pay on them has changed?? @Pjj

A few of my mates have been selling theirs.

I could be wrong but from what I'm reading it seams you pay tax on the whole amount you rent the property for.

Where as before you only paid tax on what you where left with after mortgage repayments.

For example if you rent it out for 1k a month you pay tax on the full 1k even if the mortgage is £500?

Watches are a good investment although getting one from an authorised dealer is near on impossible.

Not sure to  be honest I don’t have any on a mortgage but that was what a financial adviser suggested I do a few years ago , maybe things have changed . I pay tax on the full monthly rent as will anyone that has another job earning more that the taxable free amount . Pound for pound I still think it’s the safest way to invest money as property prices are always going up , as an example my house cost 72k 27 years ago it’s now worth best part of 400k I couldn’t have got that return any other way without taking huge risks , I am however no better off with one house as if I sold it I would have to spend that and possibly more to get something else , but after the first house it’s far more beneficial with profits especially for  a long term investment and monthly income from the rent  a 3 bed semi hear is £850-1000 per month rental I think that’s good from the owners point of view . No idea what costs are in other parts of the country . A friend of mine has been renting his house out for 2-3 k per week fir a holiday let and been inundated with bookings all summer and it’s only a small 3 bed semi in a town area no sea views or anything. 

Stamp duty for second properties is an additional 3%.

I believe that the change was that you used to be able to offset 100% of the mortgage interest against profit. I don't believe it was ever offsetting 100% mortgage payments.

Also remember that if you come to sell you have to pay capital gains tax on the profit (diff between purchase and sale price minus an allowance)!

PS I'm not an accountant ?

Lol you understand it better than me ??? I let the accountant deal with it . That’s what I pay him for .

 

[Cghwindowcleaning]

Stamp duty for second properties is an additional 3%.

I believe that the change was that you used to be able to offset 100% of the mortgage interest against profit. I don't believe it was ever offsetting 100% mortgage payments.

Also remember that if you come to sell you have to pay capital gains tax on the profit (diff between purchase and sale price minus an allowance)!

PS I'm not an accountant ?

That does sound about right what your saying and if I pursue it further then I need to sit down with my accountant.

But from what you're saying and from what I gather then by the time you take out the mortgage payment and interest plus agents fee and then service charge(if its a flat)then what you're left with after tax(especially if your higher rate tax pay}will be very little.

Obviously this is would be a long term investment that would only come good when the mortgage is repaid.

 

[Cghwindowcleaning]

I actually buy good fakes, not as an investment but it saves me a fortune having to buy real ones.

I have a mate with a few real and fakes.The fakes he gets are really good.

 

[steve garwood]

That does sound about right what your saying and if I pursue it further then I need to sit down with my accountant.

But from what you're saying and from what I gather then by the time you take out the mortgage payment and interest plus agents fee and then service charge(if its a flat)then what you're left with after tax(especially if your higher rate tax pay}will be very little.

Obviously this is would be a long term investment that would only come good when the mortgage is repaid.

I’ve mentioned this on here before, but my wife and I rented out her flat when she moved into my place.

Never again. The management company gave out all the promises but failed to deliver when it came to scummy tenants.

Had to go round there with a mate and my brother to sling them out.

Then of course it’s dealing with the **** they leave it in 

 

[steve garwood]

I have a mate with a few real and fakes.The fakes he gets are really good.

Used to have an apartment in Altinkum, Turkey. The fake clothing there is fantastic as they are known for their quality cotton.

I still have t shirts and jeans that are absolutely perfect 

 

[Part Timer]

I have a mate with a few real and fakes.The fakes he gets are really good.

Had a Raymond Weil watch for 15 years but it started to go wrong. The last estimate was £800 to repair it so decided to go the cheap route. I've now got a Breitling and 2 Omegas for half the cost of repairing it.

I can buy a new one every year for less then the cost of a biannual service.

 

[scottish cleaning service]

Lol what planet are you on it’s rapidly expanding all the time ??

As one of the guys stated, the Tax Relief has been removed and their is 165 regulations on the tenants side. I believe there is no money in it and constant hassle. fwiw

 

[Cghwindowcleaning]

I’ve mentioned this on here before, but my wife and I rented out her flat when she moved into my place.

Never again. The management company gave out all the promises but failed to deliver when it came to scummy tenants.

Had to go round there with a mate and my brother to sling them out.

Then of course it’s dealing with the **** they leave it in 

I have had a mate who this happened to as well.This and the tax on it are what put me off.

With flats It also becoming common for extra costs to come in for the external upkeep of the building if the money isn't in the pot its not uncommon for the residents to have to chip in.

I do know some people that do well with them but all these tend to have a few rather than just one.Not sure if that helps level out the risk.especially if there all on interest only.

I have investments but long term I really need to sort some kind of pension out my wife has a really good pension when she retires.

She'll be keeping me in my old age which will make a nice change.

 

[Cghwindowcleaning]

Had a Raymond Weil watch for 15 years but it started to go wrong. The last estimate was £800 to repair it so decided to go the cheap route. I've now got a Breitling and 2 Omegas for half the cost of repairing it.

I can buy a new one every year for less then the cost of a biannual service.

The service intervals have changed now depending on what you have but most are five years.I sold 2 watches in April and never serviced them.

Putting a watch on an automatic winder will help look after it.

 

[Part Timer]

The service intervals have changed now depending on what you have but most are five years.I sold 2 watches in April and never serviced them.

Putting a watch on an automatic winder will help look after it.

My mate has just paid £6k for an Omega and I think that's an 8 year service for £800, might have some of those figures wrong.

Mine was meant to be yearly but the lubricants are far better now. I have to have 2 extra  links put in which makes the automatic winders, available at the time, not very efficient.

 

[scottish cleaning service]

The service intervals have changed now depending on what you have but most are five years.I sold 2 watches in April and never serviced them.

Putting a watch on an automatic winder will help look after it.

I bought a kinetic pulsar watch from Makro in the monthly sale. £50 it cost and you don't need to wind it up as long as you wear it. Had it over 30 years, never serviced and it tells day and date. Best investment I have ever bought, stainless steel or something like that. No wonder they stopped making them.