Need Help From All You Off Plan Whizzes Out There

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Need Help From All You Off Plan Whizzes Out There

    Newbie desperately seeking advice/help!

    So i have a sum of money to invest £140,000 for the medium to long term.

    So i've researched the net, exhibitions, etc... done my homework and shortlisted the people i want to go with like crimsoninvestments.co.uk, saiinvest.co.uk, serliana.com, ticltd.com, viceroyparkproperties.co.uk

    Now all these companies out there, tell you they can 'help' you create and manage your portfolio... but that is just the problem... 'help' 'assist' 'refer' .. they will help me manage my portfolio for the properties i purchase through them but what if for example, serliana.co.uk and ticltd.com have the same project for sale but serliana.co.uk has negotiated a bigger discount then ticltd.com ... obviously to maximise my money i would got with who has the better deal .. but theoretically, in the end, i'll have off plan properties with all of them....

    So now, i'm wondering before i start shelling out WHERE DO I FIND A NON BIASED PORFOLIO MANAGER who will help walk me through the ropes and help me create a portfolio regardless of who i buy them from. So in effect, what am looking for is the advice and not the properties. If that makes sense.

    But i've spent hours trying to find this 'person' but they either sell their own properties and advise only on them or they only deal with 'commercial properties for wealthy families, etc...'

    and then there is the issue of tax planning, inheritance tax planning, creating a property trust (as the money i have to invest is the family's). So does all this fall under tax, law or financial advice?

    Can anyone help? And tell me where i can find a company who would help me create a portfolio from scratch, help me with the tax planning, create a strategy and after value my portfolio so i can take out the equity and continue investing? Without having to buy the off plan properties exclusively from them!
    thanking you kindly in advance if you have a contact that you can pass on ;0)

    #2
    Is this a tax query?

    You are essentially looking for someone who can build up and manage a profitable property portfolio, advise on property investments, tax planning, inheritance tax planning, and create a property trust.

    Or may be you are simply wishing that there really is such a person and he/(preferrably she) is hanging around to serve the likes of you and me, that is if we can afford him/her in the first place.

    Let me know if you find him or her.

    Ramnik
    Private advice is available for a fee by sending a private message.

    Comment


      #3
      yes, it's a tax query and more

      Such companies do exist, offering all the services all rolled into one but so far i've only come across the ones for already 'wealthy families' or like mentioned, only if you buy the props off of them... i'm looking for the company who can get me started by giving me unbiased advice. i know the direction i want to take and where i want to get the properties from but need the help in putting together a proper plan.

      Comment


        #4
        I don't like the look of those companies.

        They offer you 'something for nothing' and that'sjust not possible. Look at crimson, who offer you 'instant equity' because you buy the property at a discount.

        Just a minute... They offer you a £187k flat at a 20% discount (so 150k), and claim that you get 'instant equity' of £37,400. Oh no you don't.

        Firstly, there are their fees, stamp duty etc. amounting to £9,000.

        SEcondly, in order to obtain that 'instant equity' you have to be able to sell the property for £187k to somebody else. Spotted the problem? If they can't find somebody else to buy it at that price, why should you be able to?

        So in fact, that 'instant profit' or 'instant equity' of £37,400 doesn't exist. In fact, you have 'instant NEGATIVE equity of £9,000 of fees, plus curtains etc.

        I bet that you could go to the developer and negotiate a discount of over 20%. Why? Because I bet the property managers are getting a kickback from the property developer. Why do I think that? Because e.g. serliana don't charge you a management fee for letting your property out with them. That's right, a lifetime of no management fees. Typical rental companies will charge you 15%, plus a one-off fee of a month's rent for finding a tenant. So based on new tenants every 12 months (which I understand is 'about right') you will pay an average letting agent nearly 25% of your annual rental income. A typical rental income is 6%, which means that you pay a typical letting agent about 1.5% of the capital value of your property EVERY year. Yet Serliane are happy to manage the property FOR EVER just given the 2.5% up-front arrangement fee for you buying the place? Something smells very fishy there.

        Don't do it. Find a nice property yourself, somewhere near your home so you can keep an eye on it, and use a letting agent.
        The contents of this note are neither advice nor a definitive answer. If you plan to rely on this, you should pay somebody for proper advice.

        Comment


          #5
          I Need Help From All You Off Plan Whizzes Out There

          hEY THERE, thanks for the advice.. will take it on board... but that is exactly why am looking the right financial planner to guide me through this... if anyone out there knows of a ifa who takes property porfolios on board, please let me know .. thanks ;0)

          Comment

          Latest Activity

          Collapse

          • Reply to New to Renting out my property - Some tax questions
            by DoricPixie
            Your tax situation in Australian depends on whether you’re a permanent resident/citizen or a temporary resident. If you’re a temporary resident you find yourself in tax sweet spot where HMRC doesn’t care about your Australian income and assets and the ATO doesn’t care about your UK income and...
            24-06-2022, 14:29 PM
          • New to Renting out my property - Some tax questions
            by mucker973
            Hi All,
            I have a property I used to manage myself. The tenant paid me directly and I never declared it with the taxman. Going forward I have decided to use a letting agent to manage all of this. I currently reside abroad and when filling in the forms there is question which essentially is asking...
            24-06-2022, 07:39 AM
          • Reply to New to Renting out my property - Some tax questions
            by Gordon999
            If you are living overseas, you must register as a non-resident landlord using NRL1 form to Tax Office if you receive rental income from a UK property. If you don't register , the letting agent is required to deduct 25% tax on any rental money paid to you.

            After being registered...
            24-06-2022, 09:31 AM
          • Reply to New to Renting out my property - Some tax questions
            by jpkeates
            https://www.gov.uk/government/public...g-a-disclosure

            There's a "not quite an amnesty" operating at the moment.
            24-06-2022, 09:02 AM
          • Reply to New to Renting out my property - Some tax questions
            by mucker973
            Thanks JPkeates, I knew you'd know!

            I've been thinking of reporting it for a while. If I declare these past "earnings" do you think I'll just have to pay the tax (if there is any) or do you think there will be any penalties? Penalties are usually applied when you are caught out...
            24-06-2022, 08:47 AM
          • Reply to New to Renting out my property - Some tax questions
            by jpkeates
            I don't know what the situation is with Australian tax on UK rented property, and you'd probably better enquire locally.

            There are two different things to address.
            If you've been receiving income and not declaring it, you need to own up and pay what you owe - which sounds like nothing...
            24-06-2022, 08:32 AM
          • Reply to New to Renting out my property - Some tax questions
            by Covent Garden Girl
            Your questions are more complicated than you imagine.

            1) Yes, firstly as a non resident landlord, the agent or indeed tenants have to deduct tax at source, or you have to send off a form, but also wait for HMRC to send confirmation that they think it is okay for you not to have the tax...
            24-06-2022, 08:17 AM
          • Are utility bills tax-deductible?
            by Bigpat
            I've had a buy-to-let on a standard Assured Shorthold Tenancy for a few years and my tax return has been pretty simple. But since last year I have also had two lodgers, staying with me at my own residential property. Now I have purchased a small additional property, which I have moved into myself and...
            21-06-2022, 14:26 PM
          • Reply to Are utility bills tax-deductible?
            by jpkeates
            Even if you don’t need a licence, managing an HMO can be quite onerous. You’ll need a fire risk assessment, and then to comply with its requirements as a first step.

            That usually means fire retardant doors, different door locks, hard wired fire and smoke and heat alarms for a start....
            24-06-2022, 07:08 AM
          • Reply to Are utility bills tax-deductible?
            by Bigpat
            Thanks. Yes I checked the local authority who said that only "large" HMOs have to be licensed, and that counts as 5 or more tenants.

            I had no idea that separate TV licences would be required. How do HMO landlords usually handle this?
            (a) should I purchase three additional...
            23-06-2022, 21:38 PM
          Working...
          X