Property Decisions

Well it has been some time since I last posted. There has been allot happening in my life! Most of which I will not discuss here but surface to say, I have found my sole mate, she makes me whole, she is my everything,

We are currently working on ‘renovating’ my place, well renovating is probably too big a word, we are decorating top to bottom, new bathroom, maybe a new window or two but we will have to see.

I am trying to get my head round all the perpetrations and options we have. Keeping hold of my property and renting it out, selling mine to buy another property to renovate and sell (hopefully for profit) or simply sell mine and put a lump sum into my partners mortgage and live almost mortgage free…

Of course in the long term, what with the recent increases in property value, keeping hold of both properties seems to be the best option, with this becoming a pension type investment that is paid for (or semi-paid for) by rental income.

When you look at the detail the picture becomes rather less black and white. For some reason, even though we would not be making a profit on the rental income after mortgage payments etc, one still has to pay tax on the rent money, meaning that I would have to deduct 40% and therefore top up the mortgage payments by an additional 40%.

I do have in the back of my mind a change of career into property development, perhaps this is the time to make this jump, however risks that I once would have taken seem to be harder to make now that I have a partner to consider, and who knows little digitalquills running about who need supporting…

I will keep you updated on and decisions that are made. Either way keep visiting back as I will be posting information about various projects I have lined up, super proxy, premium proxy, world coffee, earning from affiliates, break away cottages and more…!