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    Software

    Hello all,

    This is my first post on here but I have been using the forums for information for a while now. However one question I have not been able to answer is whether paying hundreds of £ for software to manage payments and expenses is worth it?

    My situation is I have a portfolio of 9 houses 2 of which are HMO's they are all fully managed by a lettings agent and I get passed the rent's minus fees, I also recieve a very basic LL statement with each property. I then manage the mortgage payments etc on a basic spreadsheet I have created myself.

    Does anyone have any ideas on software and whether it is actually worth the outlay and would it provide tangible benefits in the above situation?

    I should have said the portfolio has been running for 8 months now and I am looking to grow this by a further 11 houses next year (although no more HMO's!)

    #2
    I'd use Excel myself. How difficult can it be?

    Comment

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    • Reply to Advice
      by SouthernDave
      I started my limited company a year before buying the first property, then bought a second 2 months later, a third 3 months after that, a fourth 5 months after that and so on to where I am now. Our lenders have never said they want a separate company per property. Ive never heard of that, if it were...
      23-01-2022, 17:40 PM
    • Advice
      by jhoggard
      Hi,

      I currently have a property rented out in my own name with a fair bit of equity around 50% LTV this is actually a repayment mortgage which i'm looking to switchover to a interest only. When i do this i'm also taking money out of the property to put towards another which i'm looking...
      20-01-2022, 14:25 PM
    • Reply to Advice
      by jpkeates
      I don't think we disagree.

      The OP has one property and is looking to buy a second.
      At that point in that business, lenders will want a company per property.

      There's a point where that ceases to be the case, when the portfolio gets big enough, or, presumably when someone...
      23-01-2022, 17:34 PM
    • Reply to Advice
      by SouthernDave
      i concur with this, once you get over 4 properties, they consider you to be a portfolio landlord and want to start seeing cashflow forecasts before lending to make sure the company is buoyant. Directors guarantees each time but no limits on number of properties or number of dofferent lenders....
      23-01-2022, 16:50 PM
    • Reply to Advice
      by JamesHopeful
      This is not true in my experience. I currently have eight properties in the same company, across a number of different mainstream BTL lenders, and none of them have batted an eyelid at the number.

      Where I have known lenders worry about the company is it doesn't have the correct SIC code...
      23-01-2022, 16:28 PM
    • Reply to Advice
      by theartfullodger
      Depends to a great degree on tax regulations over the coming years. We only know what the rules are today, not what they'll be in future e.g. when you retire

      I expect chancellors to cut back on the advantages of people owning property through companies (well, wouldn't you if you were chancellor)...
      22-01-2022, 13:06 PM
    • Reply to Advice
      by Gordon999
      1. No. You have not sold the property yet

      2. 19% on profit by company.

      3. Seek advice from accountant.
      22-01-2022, 09:36 AM
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      by halfax
      thanks for help to everyone who replied, great forum
      21-01-2022, 18:55 PM
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      by halfax
      i am inheriting a property and would like to place half in my grandsons name.
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      by ifallelsefails
      I watched a webinar from Landlord studio and this man Tony Gimple was featured in it. Have a look at his Linkedin profile:
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      He has a website whereby he consults exactly to your situation:
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