blonde poker forum
Welcome, Guest. Please login or register.
April 29, 2024, 06:28:25 AM

Login with username, password and session length
Search:     Advanced search
2272618 Posts in 66755 Topics by 16946 Members
Latest Member: KobeTaylor
* Home Help Arcade Search Calendar Guidelines Login Register
+  blonde poker forum
|-+  Poker Forums
| |-+  Diaries and Blogs
| | |-+  "The Downswings of Property and Poker"
0 Members and 2 Guests are viewing this topic. « previous next »
Pages: 1 ... 280 281 282 283 [284] 285 286 287 288 ... 291 Go Down Print
Author Topic: "The Downswings of Property and Poker"  (Read 598591 times)
4KSuited
Hero Member
*****
Offline Offline

Posts: 1148



View Profile
« Reply #4245 on: February 24, 2016, 11:35:25 AM »

I have a one bed BtL property in E11. I was planning to sell it in order to trade up to a 2-bed. With the change in Stamp Duty about to come into play from April, what's your view on the BtL market, specifically in London?

If I had a buyer already lined up, what's the best way of establishing 'Fair Market Value'?
Logged
Eso Kral
Hero Member
*****
Offline Offline

Posts: 6982


Lucky in Life!!


View Profile
« Reply #4246 on: February 24, 2016, 04:59:26 PM »

I have a one bed BtL property in E11. I was planning to sell it in order to trade up to a 2-bed. With the change in Stamp Duty about to come into play from April, what's your view on the BtL market, specifically in London?

If I had a buyer already lined up, what's the best way of establishing 'Fair Market Value'?
Hi Phil,
Sorry it took me a bit of time to reply to your message on FB but was in a meeting when it came through earlier.

In terms of an agent in that area I used to work for a firm called Douglas Allen who are very pro active and reputable so could recommend them highly or Churchills seem to have good coverage of those postcode.

My personal opinion of the stamp duty change is that it created a short term boost in prices in popular areas with vendors adding a bit on in the knowledge that any BTL investors would need a deal through by April so took advantage of that but imo that then creates a negative as many BTL investors will be taking off the 3% stamp from any offers they are making therefore reducing the prices and it will be down to individual vendors situations as to whether they can afford to sell for those prices.

I think in London it's a bubble that is hard to burst so only see increases continuing but if you are looking to purchase for the long term as an investment then the extra 3% will make a small difference but you would hope that xx years down the line the capital growth of buying right far outweighs that extra figure and it's only short term investors who will not purchase due to SD.

Obviously the other changes in terms of investment properties are probably going to mean that less people are buying and more investors are getting out of the market which will mean a greater supply of properties which in theory means the vendors have to be more competitive in price due to competition.

If I had a potential buyer but wanted to ascertain fair market value I would get two agents to value the property on my behalf and get the potential buyer to get two other agents (so that neither of you feel had over) and then take the mean price of the four as fair market value but if you are selling privately you wont need to pay an agents fee so this should be accounted for in some way (I certainly would be asking for a bit off if you were not paying an agents fee).

Hope this answers your question but if not feel free to ping me another.
Logged

Andrew Charles Blacklock - Lived for those he loved and those he loved remember.
PokerBroker
Hero Member
*****
Offline Offline

Posts: 1189



View Profile
« Reply #4247 on: February 25, 2016, 04:59:02 PM »

How many properties have you in total?

The main issue with this BTL subcharge is so many people across the industry aren't understanding it at all well.  My view is it's not going to make much difference and certainly won't help FTB's.   There aren't many FTB's getting turned over by the BTL landlords with an additional property supporting a pension or such like.  If anything the landlords making it difficult for the FTB market are the one's who wil get the subcharrge back as they wll be smart enough to expand the portfolio and set up Ltd companies. 

This could have been a big step to help boost the property market for buyers, sellers and landlords but the Govt. has failed terribly.   I'm expecting a very busy March mnd you, I might take the last 2 weeks of the month off so when the proverbial does hit the fan I don't need to deal with it.   
Logged
4KSuited
Hero Member
*****
Offline Offline

Posts: 1148



View Profile
« Reply #4248 on: February 25, 2016, 09:26:20 PM »

Thanks Rich. Much appreciated feedback. Thankfully you confirm my own views.

PokerBroker:

I have 2 BTL properties. The other one is in NW10, and it's a 2-bed, on which the yield is very good. It's a long term 'hold'. The one in E11 is only 1-bed, and it's not quite the best use of capital at this level of yield, hence the sale to release capital to finance a purchase (hopefully) of a 2-bed somewhere in the SE area.

I have a business relationship with a guy who has contacts at all the London Housing Associations, who are always looking for properties into which they put vulnerable people from the housing register. Depending on the , you get a fixed term contract (mine are 3-5 years) during which you get a GTD rental income at the contracted rate. My associate is familiar with the decoration, fixtures & fittings requirements. For a reasonable fee, he finds the property, works out the rental income, negotiates the purchase, then gets it fit for use. After that, the cheques/DD's just keep coming. Yes, I have to deal with broken fittings & repairs, but I am contacted via the , and I have the option of taking care of the problem myself or using their workforce.

I agree with Eso, in that the extra 3% will simply be factored into the equation for determining a workable rent. Ultimately, what BTL investors like me are looking for, are properties that will deliver capital appreciation over 15-20 years. My understanding is that I'll be able to transfer the properties into a pension 'envelope' which will help/avoid capital gains tax issues when the time comes to dispose. I have always believed strongly in property as a good long term investment, and so far these properties have not let me down.
Logged
vegaslover
Hero Member
*****
Offline Offline

Posts: 4618


View Profile
« Reply #4249 on: February 25, 2016, 10:05:37 PM »

Thanks Rich. Much appreciated feedback. Thankfully you confirm my own views.

PokerBroker:

I have 2 BTL properties. The other one is in NW10, and it's a 2-bed, on which the yield is very good. It's a long term 'hold'. The one in E11 is only 1-bed, and it's not quite the best use of capital at this level of yield, hence the sale to release capital to finance a purchase (hopefully) of a 2-bed somewhere in the SE area.

I have a business relationship with a guy who has contacts at all the London Housing Associations, who are always looking for properties into which they put vulnerable people from the housing register. Depending on the , you get a fixed term contract (mine are 3-5 years) during which you get a GTD rental income at the contracted rate. My associate is familiar with the decoration, fixtures & fittings requirements. For a reasonable fee, he finds the property, works out the rental income, negotiates the purchase, then gets it fit for use. After that, the cheques/DD's just keep coming. Yes, I have to deal with broken fittings & repairs, but I am contacted via the , and I have the option of taking care of the problem myself or using their workforce.

I agree with Eso, in that the extra 3% will simply be factored into the equation for determining a workable rent. Ultimately, what BTL investors like me are looking for, are properties that will deliver capital appreciation over 15-20 years. My understanding is that I'll be able to transfer the properties into a pension 'envelope' which will help/avoid capital gains tax issues when the time comes to dispose. I have always believed strongly in property as a good long term investment, and so far these properties have not let me down.

Prob worth getting proper advice o the pensions front. Last year my accountant told me I couldn't put property in a pension. Then there is wtf are the Cons gonna do next to fuck over both landlords and pensions.
Until the land becomes clearer on that i'm looking for renovations and sell-ons rather than rentals atm
Logged
PokerBroker
Hero Member
*****
Offline Offline

Posts: 1189



View Profile
« Reply #4250 on: February 25, 2016, 10:44:16 PM »

My understanding is the property can't be wrapped in any pension product and only those owning more than 16btl's as a limited company will be able to avoid the sub charge.  Also tax relief on rental income is going and CGT will no doubt become harder to write off.  Instinctively it feels like the conservatives are trying to squeeze out the wannabe landlords and replace them with businesses who will benefit . . .  .
Logged
PokerBroker
Hero Member
*****
Offline Offline

Posts: 1189



View Profile
« Reply #4251 on: February 26, 2016, 10:23:59 AM »

Thanks Rich. Much appreciated feedback. Thankfully you confirm my own views.

PokerBroker:

I have 2 BTL properties. The other one is in NW10, and it's a 2-bed, on which the yield is very good. It's a long term 'hold'. The one in E11 is only 1-bed, and it's not quite the best use of capital at this level of yield, hence the sale to release capital to finance a purchase (hopefully) of a 2-bed somewhere in the SE area.

I have a business relationship with a guy who has contacts at all the London Housing Associations, who are always looking for properties into which they put vulnerable people from the housing register. Depending on the , you get a fixed term contract (mine are 3-5 years) during which you get a GTD rental income at the contracted rate. My associate is familiar with the decoration, fixtures & fittings requirements. For a reasonable fee, he finds the property, works out the rental income, negotiates the purchase, then gets it fit for use. After that, the cheques/DD's just keep coming. Yes, I have to deal with broken fittings & repairs, but I am contacted via the , and I have the option of taking care of the problem myself or using their workforce.

I agree with Eso, in that the extra 3% will simply be factored into the equation for determining a workable rent. Ultimately, what BTL investors like me are looking for, are properties that will deliver capital appreciation over 15-20 years. My understanding is that I'll be able to transfer the properties into a pension 'envelope' which will help/avoid capital gains tax issues when the time comes to dispose. I have always believed strongly in property as a good long term investment, and so far these properties have not let me down.

Prob worth getting proper advice o the pensions front. Last year my accountant told me I couldn't put property in a pension. Then there is wtf are the Cons gonna do next to fuck over both landlords and pensions.
Until the land becomes clearer on that i'm looking for renovations and sell-ons rather than rentals atm

We are taking over Eso's diary but no doubt this situation is going to impact a fair few people.   

I was sent this yesterday.   But never looked at it till this morning - http://www.gov.uk/government/consultations/consultation-on-higher-rates-of-stamp-duty-land-tax-sdlt-on-purchases-of-additional-residential-properties/higher-rates-of-stamp-duty-land-tax-sdlt-on-purchases-of-additional-residential-properties?body
Logged
Eso Kral
Hero Member
*****
Offline Offline

Posts: 6982


Lucky in Life!!


View Profile
« Reply #4252 on: February 26, 2016, 10:27:40 AM »

^^ haha no worries this diary hasn't had this much action since I knocked a chunk in 2 years ago 😂
Logged

Andrew Charles Blacklock - Lived for those he loved and those he loved remember.
celtic
Global Moderator
Hero Member
*****
Offline Offline

Posts: 19112



View Profile
« Reply #4253 on: February 26, 2016, 12:44:49 PM »

This diary needs you to borrow another chunk from the triads, then go missing and update from secret locations 👍🏻
Logged

Keefy is back Smiley But for how long?
Eso Kral
Hero Member
*****
Offline Offline

Posts: 6982


Lucky in Life!!


View Profile
« Reply #4254 on: February 26, 2016, 06:01:11 PM »

This diary needs you to borrow another chunk from the triads, then go missing and update from secret locations 👍🏻
That might have to happen if my current venture goes tits up which I will come onto after but for now it's just Slovakia...

So over half term we headed over to Slovakia to see Petra's folks and for the kids to see "Babi and Dodo" as we wont travel again now till well after the baby is born in May so it was nice to have a break and just do some internet research on my current venture which I will come back to in another post.

I have been trying to look after myself and normally over there it's pretty hard as they are always feeding you or trying to give you a drink but I didn't do too bad this time with just a few extra carbs and a glass of wine when we went out for Valentines together.  The Slovak food is heavily meat based with some form of carbs and a variety of salads and they tend to eat breakfast like a king, lunch like a prince and dinner like a pauper.

It was a bit easier to manage to stay away from the alcohol this time as for those that dont know I was diagnosed with a pretty severe Hiatus Hernia in December and have been on a heavy course of drugs after my Endoscopy which is not a pleasant experience so used those as an excuse to not drink and tbh I am not a big drinker anyway.

These are the kinds of dishes common over there
This is Schnitzel with a potato salad that is served in a water, sweet vinegar and pepper mix
 Click to see full-size image.

 Click to see full-size image.


Valentines Night we escaped the kids and headed for this wooden hut in a nearby village where really only locals would go but it was great with a big open fire and we had one of those rare occasions when you have kids and just get chance to be alone for a bit.

Here's Petra having a Kofola which is a fizzy slovak drink that I have never tried! Obv it's not alcoholic as you can see from the next photo where my Ribs had turned up and it seemed to be a baby bears worth her bump is progressing nicely.

 Click to see full-size image.

 Click to see full-size image.


A roast served with rice and shredded cucumber salad again served in a small bowl of sweet vinegar, water and pepper
 Click to see full-size image.


For some of their dishes they make this bread called Knedle (pronounced Kenedeller) which they make on the day and is just flour and water with a bit of salt, no yeast is added and then instead of being baked it's steamed which gives a spongy texture to it and soaks up a lot of the sauces that they may serve that dish with be it goulash or venison meat balls etc

Here is her mum making it

Then before it's steamed
 Click to see full-size image.

Then served with Meatballs and a tomato sauce
 Click to see full-size image.


This must have been probably the unhealthiest thing I ate in our week away and looks pretty rank but actually tasted incred.

Its dumplings that are filled with jam and served with Granko (basically Chocolate used to make a chocolate milkshake) which then melts form the heat of the steamed dumplings.  I only managed to eat 3 before Max had to help with the 4th one! Honest Harvey!!
 Click to see full-size image.


One misty day we went to this little animal park tucked away in a village that again having driven 10 mins down a country road only locals could ever know it's there and yet you get inside and its a great place for the kids
 Click to see full-size image.

and whilst driving down this road and many other roads you see trees that have a mark on them like the next photo which means that you can approach whoever owns the land and ask them if anyone else has reserved the tree and then if not either the owner or you can cut down said tree and either you come back to collect the chopped up wood or he delivers it to your address which then feeds your open fire or wooden fueled central heating system for a while once you have stored and dried out the wood.
 Click to see full-size image.


Here were the kids in the little cafe part of the park having a little dance Wink



So having been back from there for a week now it's been back to planning the current venture and definitely the biggest project I have ever been involved in and a few people on here would have received FB messages the other day asking them to like a page which was so we could check and change if required our FB Url but also is the start of the drip feed of a business that is due to launch in Chelmsford High Street in mid June subject to me gaining the change of use required to A3 with a planning application gone in 2 weeks ago and the lease being acceptable to my solicitor.

I will post about this later on with a photo of my premises and a video tour as it stands currently and this currently consumes all my time in planning, working with designers, doing courses as with the exception of one smaller investor myself and Petra are financing this ourselves in what is realistically including our starting cash flow a six figure investment and hopefully the proof of concept venue that will enable us to either crowdfund or from profits roll out a further few of these venues over the next few years.

More about this later...
Logged

Andrew Charles Blacklock - Lived for those he loved and those he loved remember.
Eso Kral
Hero Member
*****
Offline Offline

Posts: 6982


Lucky in Life!!


View Profile
« Reply #4255 on: February 26, 2016, 07:06:07 PM »

So back in November whilst in Malta for a break and the IPT/EPT there was a pop up stand at the casino from a guy who had about 5 venues in Malta called Dr Juice and he was mobbed with poker players taking his juices, porridge and healthy salads and as I bust everything on day 1 I spent some time in his other venues and contacted him on my return to the UK as I knew he offered an international franchise but as I didnt particularly like his branding and felt the price was a bit high I decided to do a load of research myself rather than spend £40k euro on the franchise rights and then £10k every store that opens.

The research I did was into brands such as Crussh, Leon, Abokado, Psycle and Juice Garden and then when in Sheffield for the GPS stumbled on a little place called Nourish where 3 guys had set up and have now opened there 2nd place in Leeds with them all offering a healthy option breakfast and lunch either food to go venue or eat in with a wide range of juices that supplement the menu.

I realized that positioned right and in the correct locations there was an opportunity to invest in what through my research is a growth market over the next years and with many spin off's that my business plan allows me to do hopefully we will be able to meet our ambitious expansion plans which see us with 5-6 venues in similarly affluent towns or cities to where we launch our first venue in June.  There probably isnt a middle ground with this and it may well be a boom or bust scenario with us firmly set up for either eventuality and it wont break us if it did go tits in 2 years time but it will bloody well hurt but there is a massive upside if we get it right which makes it exciting enough to take this punt.

So in December I started working with a branding company and we came up with 4-5 different brands and as our expansion plans see us as a multiple outlet business we have tried to think of this as a "Brand" from day1 which is often hard as you are not trading but hopefully will set us in good stead and in January we decided after being given the proofs of the brands and floating them around people who's judgement we respect and 95% of them came back unguided with the same brand being one they felt comfortable with and one they felt was already familiar to them which was "Juice Kitchen"
 Click to see full-size image.


 Click to see full-size image.


 Click to see full-size image.


So having researched the local area the best place to launch this for a number of reasons that I will keep to myself for now was Chelmsford but this is the closest City which obviously I can get to in commutable distance so it was a case of finding a premises but we really wanted a high street location but again that comes at a premium price and with all the current development going on in the city rents are absolutely extortionate with 20 doors down from me Pret currently paying £130'000 per annum for a premises that is about half as big as mine.

I spent 6 weeks doing various research on the numbers that the big chains do and the smaller guys to see if I felt I could make it work and also look at staff etc and there is definitely £££ in this city with my average day being 9am-9.30 head count of all 15 bits of competition, 9.30-11.30 sat in a nearby competitor seeing how any people they serve in that 2 hour window and equating an average spend, 11.30-12 another head count in 15 venues, 12-2pm sit in probably my closest competitor in terms of concept and look at the numbers of people they serve and then a final 2.30 head count.

Early in January I viewed for a second time this venue with my designer who has recently designed a bar and grill in the town so has dealt with the planners and has a good idea as to what it will cost me to get the doors open (I had an idea but wanted to know what he thought about cost, concept etc) and having seen it again I made an offer to the landlord who we had met that day in passing whilst looking in the basement.  I actually think it was partly this meeting that sealed the premises for me as later that day having sent them a bank statement to prove my covenance and some exerts of my business plan I had an offer accepted and we are now just a few weeks away from being ready on the lease just waiting on planning when we will start the build.

This is the venue with Jamie's Italian right next door at the very top of the High St
 Click to see full-size image.

Here it is inside literally still like a C & G with no desks, staff although the safe is still there so I'm hoping I find some loot!

Where it cuts off the second clip takes over and will be the area for the kitchen and customer toilets when you see the plan


So as well as this space upstairs we also have 600sq ft in the basement which will basically be used for kitchen prep, storage and there are staff toilets and a small staff area too with the basement not requiring too much work.

The layout lends itself to the design we have anyway due to the size etc so this is the proposed layout
 Click to see full-size image.


and this gives an idea as to the general mood of the place we will be creating being the mood board we came up with recently
 Click to see full-size image.


This is an exert from my plan which just gives you an idea as to what we will be doing and some of the associated spin offs that will launch once the shop has started trading in June.

"Juice Kitchen was born from a personal frustration at the lack of healthy eating food to go venues and the Chelmsford premises aims to be the first of a planned roll out of further sites having built an eye catching brand offering a Healthy “Go To” alternative to conventional fast food outlets in our targeted towns and cities.

Juice Kitchen will serve 100% freshly extracted fruit and vegetable based juices, smoothies and delicious healthy, nutritious food from breakfasts, wholesome wraps, soups, salad boxes at an affordable price all made fresh that day in our premises with all the nutritional & macro information transparent.

There are also a number of other associated spin offs that can be built into the business once we are trading to further increase the turnover further including Meal Prep for individual clients, Delivery Service to local businesses, Attending local fetes and festivals, Outside catering service to businesses for meetings, Snack Box subscription, Healthy Honesty Box in local businesses with the whole business having a community aspect to it via working with people less fortunate that others through a “Pay it Forward” loyalty card scheme which will be launched within the first 6 months of trading".


It's probably the most exciting yet scary thing I have done in my life as I am basically "ALL IN" in cash terms on this coupled with the fact I am just taking a survival budget salary for the first 18 months it's a massive investment with the build and equipment being £60k to doors open and is the main reason you wont see me this week at DTD or around the tour stops I used to frequent much (except maybe Southend GPS in March) as eg this week spending £1k plus ex's in Nottingham is the equivalent of a commercial blender for our superfood smoothies (bet none of you thought you would ever hear me saying that!)

Obviously it wont be me cooking the food and I will be working with a manager with me being a trainee manager I suppose to learn but work it 24/7 for hopefully the time when we choose which avenue to expand with and as it's a healthy kitchen I am working with IRaise (Harvey) and Zerofive (Sean) on the nutritional side who will work adhoc alongside myself and the Head Chef in the creation of Nutritious, Healthy and Tasty dishes on a seasonal menu.

We are lucky we have the run in to opening as it gives us time to get things right and drip feed the marketing out there so feel free to like the page on FB (its Juice Kitchen) as the more likes the better even if you are spread around the UK (this is actually better) and I will post more as we go through the process to opening etc


GL to all Blondes at DTD this weekend and I hope to catch up with some in a few weeks at Southend.

Obv if anyone has any questions or suggestions then feel free to post.

Logged

Andrew Charles Blacklock - Lived for those he loved and those he loved remember.
booder
Hero Member
*****
Offline Offline

Posts: 12771


Lazy , Hazy days


View Profile WWW
« Reply #4256 on: February 26, 2016, 07:07:46 PM »

Those Schnitzels look delicious
Logged

Quote from: action man
im not speculating, either, but id have been pretty peeved if i missed the thread and i ended up getting clipped, kindly accepting a lift home.

In the end, we will remember not the words of our enemies, but the silence of our friends.
Martin Luther King Jr
Eso Kral
Hero Member
*****
Offline Offline

Posts: 6982


Lucky in Life!!


View Profile
« Reply #4257 on: February 26, 2016, 07:18:51 PM »

Those Schnitzels look delicious
Cheers Boo

I prefer the Chicken ones her mum makes but these were pork which are cut on the sides in about 8-10 places and then hit with the mallet to soften the meat before coated and cooked.
Logged

Andrew Charles Blacklock - Lived for those he loved and those he loved remember.
DMorgan
Hero Member
*****
Offline Offline

Posts: 4449



View Profile
« Reply #4258 on: February 26, 2016, 08:16:58 PM »

Looks great Rich,  seems to have a lot of parallels with Fruccola.

This place in Budapest was always very very busy, glgl with it

http://fruccola.hu/english.html
Logged

Eso Kral
Hero Member
*****
Offline Offline

Posts: 6982


Lucky in Life!!


View Profile
« Reply #4259 on: February 26, 2016, 08:54:07 PM »

Looks great Rich,  seems to have a lot of parallels with Fruccola.

This place in Budapest was always very very busy, glgl with it

http://fruccola.hu/english.html
Thanks Dan, quite a few similarities there.

Do you live in Hungary now as well? If so how's it going & what are you upto?
Logged

Andrew Charles Blacklock - Lived for those he loved and those he loved remember.
Pages: 1 ... 280 281 282 283 [284] 285 286 287 288 ... 291 Go Up Print 
« previous next »
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.21 | SMF © 2015, Simple Machines Valid XHTML 1.0! Valid CSS!
Page created in 0.389 seconds with 20 queries.