Dunsaw

Registered with Property118.com
Friday 20th September 2013


Latest Comments

Total Number of Property118 Comments: 10

Dunsaw

20:00 PM, 12th November 2014
About 6 years ago

What would you do? Brilliant property strategy and planning (I hope...)

You have been quite "lucky" with your portfolio and I define luck as what happens when preparation meets opportunity.

I do understand where you are coming from and why you are hesitant. If I were in your shoes I would go for it with the proviso that property nr 3 (my home) is paid off in full via my earnings asap. Physiologically and especially if you are nervous about property investment, once you have a low or no mortgage on your home, you are then more comfortable about taking risks. So this strategy might work for you. A low or no mortgage is quite an exhilarating feeling and it spurs you on in other ways.

Look at the turkey and with Christmas coming up, decide if it time to roast it! However check the numbers and see if by thinking outside of the box you can make the numbers work for that property.

Investing is all about your appetite for taking on, managing and controlling risk and it is generally a very personal decision. However listen to what others have to say as you will not have time to make all the mistakes we have made; make some new ones and we will forgive you that!... Read More

Dunsaw

12:24 PM, 1st August 2014
About 6 years ago

Tenant reneged on deal - HELP!

You have no idea how lucky you have been in not taking matters forward with this tenant.

Please get into the habit of taking tenant references and having formal agreements. Ask for references to be carried out and who ever completes theirs within your deadline and is deemed suitable you can proceed with.

Consider this a fairly inexpensive lesson learned for trying to take a shortcut.... Read More

Dunsaw

12:30 PM, 7th November 2013
About 7 years ago

What accountancy software do landlords use?

I use Landlord Property Portfolio Software with the tax option. I have been using it for 4 yearsyears and it helped me understand my numbers fully as I worked fulltime whilst running a small portfolio. I file my tax myself and as I like keeping my paperwork organised it has not been too much trouble.

You can try it free of charge for 30 days. As you can tell I am a fan.... Read More

Dunsaw

14:10 PM, 19th October 2013
About 7 years ago

What is an amateur landlord?

Reply to the comment left by "Mark Alexander" at "19/10/2013 - 14:04":

In your context I would give the "amateur" claim short shrift!

If you have a buy to let mortgage you are deemed to be a professional landlord. If you claim to be anything else you should be done for fraud!... Read More

Dunsaw

13:10 PM, 19th October 2013
About 7 years ago

What is an amateur landlord?

Hello Mark

"Amateur" landlords exist and the first I know of them is when they post a horror story on "moneysavingexpert" where an excellent group of professional landlords help them out. Their horror stories either stem from not realising that renting is a business or when a "professional" tenant has taken them to the cleaners.

Sometimes these landlords do not think that they are landlords as they say "I am renting to a friend or my brother and they are just paying enough to cover the mortgage, so I do need to be "legit"?

I would also send them to MissMoneyPenney on the "moneysavingexpert" forum as she takes no prisoners when it comes to "amateur" landlords.

The term "amateur" should continue to be used, so we we who have learned through (bitter) experience and continue to learn to be professional landlords help them out. After a while we can all be proud when they become landlords... Read More