If you where Mortgage free

[gas112]

I'm not in your situation. I'm asking for a bit of advice.


I haven't started this thread to learn how to play the Trombone.

Thing is nobody knows how much spare money /assets you have so if someone says buy a house you might not have enough money for the deposit and up keep .
Then saying buy shares same again if you only have a few grand it could take years to build a good pot without risk
or invest in stocks and shares isa / unit truts etc

 

[Mottie]

I'm not in your situation. I'm asking for a bit of advice.

You could start with telling us how much you have to invest. Without knowing that, there’s no point in asking. I don’t know but unless you have the full price, it may be the wrong time to get a mortgage for a buy to let if that’s what you are thinking. Could you get another mortgage on a buy to let at your age?

 

[Murdochcat]

OP you asked us what we would do if we were mortgage free.?

Working part time, volunteering and holidays is my answer

 

[Deleted member 294929]

Thing is nobody knows how much spare money /assets you have so if someone says buy a house you might not have enough money for the deposit and up keep .
Then saying buy shares same again if you only have a few grand it could take years to build a good pot without risk
or invest in stocks and shares isa / unit truts etc

Thats what it's about. I have a house I own.

Maybe £20grand for this and that. Plus could use another £15 grand.


I don't know enough about shares.
I have a mate giving me few tips but he's now on the Lebanon border with more important things on his mind.

I did have JD shares but sold them with my flats.

I'm fool.(^-^)

 

[Deleted member 294929]

You could start with telling us how much you have to invest. Without knowing that, there’s no point in asking. I don’t know but unless you have the full price, it may be the wrong time to get a mortgage for a buy to let if that’s what you are thinking. Could you get another mortgage on a buy to let at your age?

It's more my lack of understanding of borrowing money. I have an asset in my property. I'd need to borrow against it and if I'm willing to work till I'm 70, will any banks entertain me.

The thing is I have skills and time on my hands plus a network of good tradesmen & friends

The amount isn't as important as knowing how to play with whst I have.

 

[Deleted member 221031]

It's more my lack of understanding of borrowing money. I have an asset in my property. I'd need to borrow against it and if I'm willing to work till I'm 70, will any banks entertain me.

The thing I'd I have skills and time on my hands plus a network of good tradesmen & friends

The amount isn't as important as knowing how to play with it as such.

See a mortgage broker and get a BTL mortgage, find a house or flat, tart it up, rent it for a few years to cover all your fees etc. Remember all fees are front loaded so take that into account.

When the property is worth the target amount sell it. Remember there’s taxes to pay on that.

Or buy in a cheaper area, rent it until you retire and sell up.

 

[Deleted member 294929]

See a mortgage broker and get a BTL mortgage, find a house or flat, tart it up, rent it for a few years to cover all your fees etc. Remember all fees are front loaded so take that into account.

When the property is worth the target amount sell it. Remember there’s taxes to pay on that.

Or buy in a cheaper area, rent it until you retire and sell up.

I worked in a house the other week.
He wants 30 grand less than mine is worth but it's a wreck and1 less bedroom. It's the posher side of town and has a nice bit of land for a granny annex or an extension.

I have thought about Lincolnshire but I don't think I would want to start another business.

 

[Deleted member 221031]

I worked in a house the other week.
He wants 30 grand less than mine is worth but it's a wreck and1 less bedroom. It's the posher side of town and has a nice bit of land for a granny annex or an extension.

I have thought about Lincolnshire but I don't think I would want to start another business.

That doesn’t sound like a good deal unless you have more cash available.

If you want to look up north I know some agents and landlords. The yeild is good, but the capital doesn’t appreciate very fast.

 

[Deleted member 294929]

That doesn’t sound like a good deal unless you have more cash available.

If you want to look up north I know some agents and landlords. The yeild is good, but the capital doesn’t appreciate very fast.

Don't you think the country is going to reshape itself?

You don't have to live in Essex to work for a top London firm anymore. So many are working from home.

My brother and his wife have moved to Spain but still have their jobs.

 

[Deleted member 221031]

Don't you thing the country I'd going to reshape itself?

You don't have to live in Essex to work for a top London firm anymore. So many are working from home.

My brother and his wife have moved to Spain but still have their jobs.

I don’t know about that.

I see plenty of people working from home.

I think I’m trying to say @57 with 13 years to go and £35k on the hip I’d be looking at renters again.

 

[Mottie]

It took my uncle a year to get a non paying renter out of his house and it cost him £27k to put right the damage she left. She came with good references from an agency. She got another place through the same agency, presumably with good references. Luckily he could afford it and wasn’t paying a mortgage. Just think about how you would cope in that situation.

 

[Deleted member 221031]

It took my uncle a year to get a non paying renter out of his house and it cost him £27k to put right the damage she left. She came with good references from an agency. She got another place through the same agency, presumably with good references. Luckily he could afford it and wasn’t paying a mortgage. Just think about how you would cope in that situation.

There’s always a bad story. But mainly it’s a good business to be in.

Hopefully your uncle had landlord insurance.

 

[Deleted member 294929]

It took my uncle a year to get a non paying renter out of his house and it cost him £27k to put right the damage she left. She came with good references from an agency. She got another place through the same agency, presumably with good references. Luckily he could afford it and wasn’t paying a mortgage. Just think about how you would cope in that situation.

When we got back from Australia we gave the girl notice that we wanted to move back in.

She told us that the Council advised her to refuse to leave and make us take legal action.

Just coincidence that her brother inlaw knew our freind from Australia so there was link that maybe saved the day for us.

 

[Justin Passing]

If you where Morgage free, and what would you do to make money for your later years.

Learn how to do trading at the stock market. Most fail but you might be ok. It's a mental thing. YOu need to turn on your psycopath - or "emotionally detached mode" like surgeons need. It's much easier when you're only using winnings.
Most people, lets be honest, are thick as **** and twice as stupid.
I went from 20k in about July to 300k (pic of bank accounts posted) then, & on at a multiplying rate.
I'm using 80k of winnings now to trade with, shoving the excess in shares(etf's) at HSBC.
Today, stock (Natural Gas) price changed 3%.
Leveraged at 10x. (Gas is a commodity)
You multiply 80k by 3% x 10 to get the returns.
= £24k.
Some days a predicted stock will go 20%. Like oil/gas/bitcoin related stuff or some chip companies.
So that would be 80k x 20% x 5 = £80k. For gas/oil it would be 160k.
Then it can go back in the afternoon for the same again. My best days have been a few 100k. 650k I think.
You can do it avoiding tax if you want to, using a variant called Spread Betting.
Some days are too messy so I leave it. I'm not good at it so it has to be easy.
If I start off and lose more than about £5k I get ps$$ed off - then the brain won't be right for a while. Happens maybe once in 2/3 weeks.
Recently things have been "trending" which makes it easy. There's plenty of online help, every day.

I quite enjoy it but I've saved more than I'll need for the rest of my (+1) life.
This is not unusual - "everybody" is at it, it has become so easy.
Soon we'll all have AI driven trading bots in our phones and the finiancial world will collapse - I'm not joking. Nobody will work.
Amount of forex traded in a day; $12 trillion.
Trading floor by Liverpool St Station trades £11,000,000
per second, 24/7.


Quite lot of people look at this at the appropriate time, which is just before markets open , 8am or 2:30pm. Open a trade, set the stops, and leave it, and come back next day.

Since I started dibbling on't pc this evening/morning, I've been in Mongolian Mining, a HK stock I used before.
I mentioned it in the STock Market Trading thread. just before....

Here you go: "22 Feb" was midnight.

I got in a bit after I posted in that other thread, - it's up 10% since.

I started smaller until it was properly up so that's most of 80k x 10% x 5 , so about £38000. It's still rising. I'll set the automatic "outs" and toddle off to bed now. It might drop a couple % if it hits the stops immediately,, or carry on up another 10.. If it's still running when the market closes at 8am, it's a bit awkward , so I tell her indoors (her now in bed...) to hit the button to close it. I leave a post-it out for her to see. We call it the shoes note. Can she buy new shoes...? Clarks or Manolos?

Tomorrow, gas, Nvidia, SMC, AMD, Intel, ASML and ARM will get my attention, with crypto related stocks if it moves.

 

[Deleted member 294929]

Learn how to do trading at the stock market. Most fail but you might be ok. It's a mental thing. YOu need to turn on your psycopath - or "emotionally detached mode" like surgeons need. It's much easier when you're only using winnings.
Most people, lets be honest, are thick as **** and twice as stupid.
I went from 20k in about July to 300k (pic of bank accounts posted) then, & on at a multiplying rate.
I'm using 80k of winnings now to trade with, shoving the excess in shares(etf's) at HSBC.
Today, stock (Natural Gas) price changed 3%.
Leveraged at 10x. (Gas is a commodity)
You multiply 80k by 3% x 10 to get the returns.
= £24k.
Some days a predicted stock will go 20%. Like oil/gas/bitcoin related stuff or some chip companies.
So that would be 80k x 20% x 5 = £80k. For gas/oil it would be 160k.
Then it can go back in the afternoon for the same again. My best days have been a few 100k. 650k I think.
You can do it avoiding tax if you want to, using a variant called Spread Betting.
Some days are too messy so I leave it. I'm not good at it so it has to be easy.
If I start off and lose more than about £5k I get ps$$ed off - then the brain won't be right for a while. Happens maybe once in 2/3 weeks.
Recently things have been "trending" which makes it easy. There's plenty of online help, every day.

I quite enjoy it but I've saved more than I'll need for the rest of my (+1) life.
This is not unusual - "everybody" is at it, it has become so easy.
Soon we'll all have AI driven trading bots in our phones and the finiancial world will collapse - I'm not joking. Nobody will work.
Amount of forex traded in a day; $12 trillion.
Trading floor by Liverpool St Station trades £11,000,000
per second, 24/7.


Quite lot of people look at this at the appropriate time, which is just before markets open , 8am or 2:30pm. Open a trade, set the stops, and leave it, and come back next day.

Since I started dibbling on't pc this evening/morning, I've been in Mongolian Mining, a HK stock I used before.
I mentioned it in the STock Market Trading thread. just before....

Here you go: "22 Feb" was midnight.
View attachment 333903
I got in a bit after I posted in that other thread, - it's up 10% since.

I started smaller until it was properly up so that's most of 80k x 10% x 5 , so about £38000. It's still rising. I'll set the automatic "outs" and toddle off to bed now. It might drop a couple % if it hits the stops immediately,, or carry on up another 10.. If it's still running when the market closes at 8am, it's a bit awkward , so I tell her indoors (her now in bed...) to hit the button to close it. I leave a post-it out for her to see. We call it the shoes note. Can she buy new shoes...? Clarks or Manolos?

Tomorrow, gas, Nvidia, SMC, AMD, Intel, ASML and ARM will get my attention, with crypto related stocks if it moves.

I read this, then my head hurt. I get some of it, but i know too little about it.

The shares I dealt with in the past never lost me anything yet gained me a little. I can see when you say that you enjoy, but that's easy when your winning.

I just don't understand it enough.