Am I too old to increase my wealth?

Am I too old to increase my wealth?

9:20 AM, 20th March 2023, About A year ago 67

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Hello, Any suggestions/advice would be much appreciated. I have a property portfolio with low loan to value ( 20% ) and I am in my 70s and bored!!!

I don’t want to sell up and pay CGT, then IHT. I think I really would like to increase my wealth.

Am I too old to increase my portfolio? Labour may be voted in and may impose a rent cap or they may not.

I could just do nothing but that’s not very interesting.

I’m in a position to substantially increase my portfolio but don’t know what to do and can’t decide.

Any suggestions?

Thank you,


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Jeff Hopcroft

11:34 AM, 20th March 2023, About A year ago

Hi John
Buy to sell rather than buy to let.
It doesn`t increase your portfolio but it`s good fun and, done carefully, will increase your wealth.


11:34 AM, 20th March 2023, About A year ago

Hey John think this is called 'dithering old age' and I say that with every respect as I'm in same camp.
Let's face it, we've seen plenty of change in our life time from council house days (only way to rent) to the fairly buoyant PRS (despite all the current uncertainty).
There's no win win here as I see it. It's highly likely the PRS is going to get tougher. The fact that you 'bored' suggests it's maybe time for change. No crystal ball for any of us. I'll be viewing this thread with interest!


11:36 AM, 20th March 2023, About A year ago

Do you have any dependants who may be stung with inheritance tax?
If yes then look into schemes of reducing their burden. A trust, or give out their inheritance early by gifting properties ? Live on seven year...

Neil Turner

11:36 AM, 20th March 2023, About A year ago

Hi John,

Your comments mirror my situation exactly.

If you would like to talk please send your telephone number via my email.

Freda Blogs

11:54 AM, 20th March 2023, About A year ago

Your plans may be influenced by whether and when you will need to access funds by selling any of your properties. The new reforms will almost certainly ensure that you do not have control over when or how you can recover possession (it's bad enough now, pre-reform, but it will get worse when the reforms are implemented).

I think Jeff Hopcroft's suggestion re buy to sell is a good one, subject of course to your own personal and tax circumstances.


12:16 PM, 20th March 2023, About A year ago

Reply to the comment left by Neil Turner at 20/03/2023 - 11:36
Hi John and Neil. I too am fully retired from my career and now manage 4 family owned properties, which is challenging, but keeps the brain engaged. I am nearly 73 and live in West Sussex. I enjoy networking with like minded people and learning new skills. Very happy to have a chat or email exchange with you.

Susan Bettin

12:29 PM, 20th March 2023, About A year ago

Hi John,
I am in my early sixties and am looking to seriously expand my modest portfolio of holiday let’s.
If you feel like doing a JV with me I would be very happy to chat.


12:51 PM, 20th March 2023, About A year ago

I am 68 and retired in 2020. I have sold all but one BTL, and will sell that one ASAP. I'm hoping the leasehold reforms will address the ground rent issues which are hitting my valuation. Otherwise, it will have to be a S21.
I understand the issue of boredom, and we are filling much of our time with holidays while we are fit enough to enjoy them. We are 70 and 65 next year and it will be a big one! I got a rescue dog [Springer about to be shot!] last year and she fills a lot of time, and I have a wide group of close friends around and outside the UK, who meet every couple of months for eating, drinking, sailing, golf, skiing... But, while I enjoy these discussions, I've had enough of BTL.
I bought a house in York 3 years ago with a view to holiday letting. I've spent a lot, extended up and out and fully refurbished, but I haven't decided if I want to do it. It's unencumbered and worth about £700k, and classed as my residential.
7 years ago, I raised £650k on my then home, with a view to buying elsewhere. It didn't work out, but I didn't think twice about that sort of arrangement. Today, I know I could probably raise a significant sum on my home if it was for holiday letting [the demand is good] and put that money to better use elsewhere. But... I'm dithering!
I've got a decent sum currently in Trust for my kids, but the poor performance and high costs have made me reconsider that.
I am sometimes bored, but my real problem is, should I be making better use of my equity? Can it be put to better use for IHT mitigation? I've thought about gifting, and my son is in Dubai... could that be tax-efficient? But what then for my daughter, who isn't good with money?
Guess I need help. Or, do nothing and continue enjoying life for as long as we can?


13:04 PM, 20th March 2023, About A year ago

John, Could you not "move in" your properties for a year, one at a time and then sell? Meanwhile do what Jeff said and buy to sell or go to auction with maybe with little redecoration etc and then flip the properties?

Yvonne Francis

13:17 PM, 20th March 2023, About A year ago

Reply to the comment left by Randonneur at 20/03/2023 - 11:36
If you gift your children or put it in a trust I though CGT has to be paid. The only thing you can give away without CGT is your own home, and rent it from your children at a market rent.

I'm 78 this year and in poor health and I self manage my two large HMO's. I'm holding on to them because of CGT. Tax wise I'm in the same difficult postion as John.

My advice to John is to go on investing. There is no retirement age for Landlords!

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