[Lee Burbidge]

Can you see yourself retiring ( when you do) and your window cleaning company still operating?

[DaveG]

Yes I can.. 2 of my sons will (kind of) franchise the business off of me.. better than any pension plan 

[elite mike]

the best plan is not to have one.

[Dave Willis]

Biggest rip off/waste of money I ever invested in.

[bobplum]

N.E.S.T......Take look at that

[H20cleaning]

When im in a position paying myself a good wage i shall pay money into a savings account, then invest into a second house in years to come and eventually that will be my pension renting it out. Alongside my business that my kids will be running (hopefully)

[SeanK]

When im in a position paying myself a good wage i shall pay money into a savings account, then invest into a second house in years to come and eventually that will be my pension renting it out. Alongside my business that my kids will be running (hopefully)

Take the upkeep of the property, landlord insurance plus taxes and you would be better off living on the savings alone.
That's if your lucky enough to get a decent tenant, I have a few mates who rent out their properties and you want to
hear some of the horror stories they could tell you, certainly put me of buying a second property to rent out.

[H20cleaning]

When im in a position paying myself a good wage i shall pay money into a savings account, then invest into a second house in years to come and eventually that will be my pension renting it out. Alongside my business that my kids will be running (hopefully)

Take the upkeep of the property, landlord insurance plus taxes and you would be better off living on the savings alone.
That's if your lucky enough to get a decent tenant, I have a few mates who rent out their properties and you want to
hear some of the horror stories they could tell you, certainly put me of buying a second property to rent out.

Were i live the best houses to buy are really cheap ones mayby 70grand, they rent for about £480 a month and usually its people on benefits who move straight in.

So you dont need to do anything to the house just make sure the basics are there and a lick of paint.
I know a lad only 25 who has over 700k of these type of property's and he is absoloutly rolling in it.

[Scrimble]

When im in a position paying myself a good wage i shall pay money into a savings account, then invest into a second house in years to come and eventually that will be my pension renting it out. Alongside my business that my kids will be running (hopefully)

Take the upkeep of the property, landlord insurance plus taxes and you would be better off living on the savings alone.
That's if your lucky enough to get a decent tenant, I have a few mates who rent out their properties and you want to
hear some of the horror stories they could tell you, certainly put me of buying a second property to rent out.

Were i live the best houses to buy are really cheap ones mayby 70grand, they rent for about £480 a month and usually its people on benefits who move straight in.

So you dont need to do anything to the house just make sure the basics are there and a lick of paint.
I know a lad only 25 who has over 700k of these type of property's and he is absoloutly rolling in it.

he is prob in 700k of debt too

[H20cleaning]

When im in a position paying myself a good wage i shall pay money into a savings account, then invest into a second house in years to come and eventually that will be my pension renting it out. Alongside my business that my kids will be running (hopefully)

Take the upkeep of the property, landlord insurance plus taxes and you would be better off living on the savings alone.
That's if your lucky enough to get a decent tenant, I have a few mates who rent out their properties and you want to
hear some of the horror stories they could tell you, certainly put me of buying a second property to rent out.

Were i live the best houses to buy are really cheap ones mayby 70grand, they rent for about £480 a month and usually its people on benefits who move straight in.

So you dont need to do anything to the house just make sure the basics are there and a lick of paint.
I know a lad only 25 who has over 700k of these type of property's and he is absoloutly rolling in it.

he is prob in 700k of debt too

Well it doesnt matter if he is because if one house is empty then the others cover the payments, its the first 2 property's wich are hard to keep ontop of.

[TomCrowther]

Hi Lee
Yes, I plan to use my business well into retirement. I want the business to mature over the years from a two man operation into a solid four man set up. I will be very much in the back ground but still around to oversee and help with challenges.

[SeanK]

When im in a position paying myself a good wage i shall pay money into a savings account, then invest into a second house in years to come and eventually that will be my pension renting it out. Alongside my business that my kids will be running (hopefully)

Take the upkeep of the property, landlord insurance plus taxes and you would be better off living on the savings alone.
That's if your lucky enough to get a decent tenant, I have a few mates who rent out their properties and you want to
hear some of the horror stories they could tell you, certainly put me of buying a second property to rent out.

Were i live the best houses to buy are really cheap ones mayby 70grand, they rent for about £480 a month and usually its people on benefits who move straight in.

So you dont need to do anything to the house just make sure the basics are there and a lick of paint.
I know a lad only 25 who has over 700k of these type of property's and he is absoloutly rolling in it.

he is prob in 700k of debt too

Well it doesnt matter if he is because if one house is empty then the others cover the payments, its the first 2 property's wich are hard to keep ontop of.

The problem is once you get a tenant in then its hard to get them out if they are bad payers or causing a disturbance.
Took my mate nearly 2 years to get a non payer out and cost him a fortune in the process.
In the end the scum bags done a moonlight flit but trashed the property before leaving.
One of my customers got it worse than that, the people she got in gutted the property and left it in that bad a state
that she was ordered to have it demolished at her own expense.
Both of these families showed no sign that they would have done the above when they first started renting the properties.
Yes renting out properties can work if luck is on your side but it can be a very risky business.

[H20cleaning]

Yes i totally agree! But you are within your rights to check up every now and again.

Also the guy i mentioned is good mates with the local "gangster" if you like so i imagine any money owed he would always get, likewise if i ever rented a property out.

But for most people it is a very risky way.

[DG Cleaning]

Yes i totally agree! But you are within your rights to check up every now and again.

Also the guy i mentioned is good mates with the local "gangster" if you like so i imagine any money owed he would always get, likewise if i ever rented a property out.

But for most people it is a very risky way.

Hopefully the tenant doesn't go to the police to complain about the local bully boy demanding money with menaces and the said bully doesn'tthen sing like a canary (his type always do) and drop you right in it

[Ian Lancaster]

Mine

[Carpet Dawg]

Firstly, I'd like to say you'd be better off speaking to a financial adviser for financial advice than ask on a window lickers forum  

Personally, I think you should have a wide portfolio of investments (not savings!!), you want your money to grow.

So stocks and shares. Good long term "boring" utility stocks (there is always going to be a demand for these companies products and services), that pays a good dividend and steadily grows through the years.
If you know what you are doing with sharing trading, its probably the lest hassle way of getting rich.

Physical Gold bullion bars and gold coins. British gold coins are capital gains tax free and you pay no VAT on gold. Look at the gold charts for the last 40 years, they are not making anymore gold! there is always going to be a demand for solid gold especially from emerging nations like the middle east, India and China. Having about 10% - 20% of your portfolio in gold (physical not a gold stock), would be a very shrewd move imo.

Property. This is a pain in the arris as has been said already. But the cold hard truth is that I know a ton of property millionaires than any other sector, business or other wise. The trick is to have more than one property rented out.
Always buy in a good location, if its cheap chances are its crap, remember your investing money so only buy in the best locations. Do you have a university in your town? In Edinburgh there are  3 - 4 bed flats that rent out for £1400 - £2000 pcm. And that's not taking in to account the growth of the property.

Sure you will get the odd dodgy tenant now and again but put them on a 6 monthly agreement/contract, take a 75% deposit (for any damages), get two forms of reference (ideally from previous landlords or letting agents), furnish the flat with minimum IKEA furniture and find excuses to check up on them occasionally. That's what I do   whats the worst that can happen? Your not furnishing the flat with plasma TVs! Stories of tenants setting up a cannabis farm in your property or knocking down internal walls is a load of old cods walop.  

Property tip: Are there any new estates being built in your area? Still at the planning stages? Do you know you can buy property from the architects / house builders plans at vastly reduced cost. (of course it is harder to get a mortgage for these types of property purchase) You wait till they are built and flip it! Sell it as soon as the door handles have been screwed on and make a very easy £20k - £30k or more without doing anything!

Here's another tip: look into the Shale energy industry and companies that are set to profit big time from mining/processing/servicing it. Its going to explode in a few years to come, taking over the Oil industry.

All these hippy protestors need to get a reality check and shut the hell up. They have no idea what they are banging on about! Britain has some of the worlds largest shale gas reserves. There's a lot of money to be made for the savvy investor.

[H20cleaning]

Yes i totally agree! But you are within your rights to check up every now and again.

Also the guy i mentioned is good mates with the local "gangster" if you like so i imagine any money owed he would always get, likewise if i ever rented a property out.

But for most people it is a very risky way.

Hopefully the tenant doesn't go to the police to complain about the local bully boy demanding money with menaces and the said bully doesn'tthen sing like a canary (his type always do) and drop you right in it

I assure you the police would advise the money got paid as soon as they know he was involved haha

[DG Cleaning]

Yes i totally agree! But you are within your rights to check up every now and again.

Also the guy i mentioned is good mates with the local "gangster" if you like so i imagine any money owed he would always get, likewise if i ever rented a property out.

But for most people it is a very risky way.

Hopefully the tenant doesn't go to the police to complain about the local bully boy demanding money with menaces and the said bully doesn'tthen sing like a canary (his type always do) and drop you right in it

I assure you the police would advise the money got paid as soon as they know he was involved haha

What a wonderful way to do business and a lovely area your tenants will be living

[trevor perry]

Firstly, I'd like to say you'd be better off speaking to a financial adviser for financial advice than ask on a window lickers forum  

Personally, I think you should have a wide portfolio of investments (not savings!!), you want your money to grow.

So stocks and shares. Good long term "boring" utility stocks (there is always going to be a demand for these companies products and services), that pays a good dividend and steadily grows through the years.
If you know what you are doing with sharing trading, its probably the lest hassle way of getting rich.

Physical Gold bullion bars and gold coins. British gold coins are capital gains tax free and you pay no VAT on gold. Look at the gold charts for the last 40 years, they are not making anymore gold! there is always going to be a demand for solid gold especially from emerging nations like the middle east, India and China. Having about 10% - 20% of your portfolio in gold (physical not a gold stock), would be a very shrewd move imo.

Property. This is a pain in the arris as has been said already. But the cold hard truth is that I know a ton of property millionaires than any other sector, business or other wise. The trick is to have more than one property rented out.
Always buy in a good location, if its cheap chances are its crap, remember your investing money so only buy in the best locations. Do you have a university in your town? In Edinburgh there are  3 - 4 bed flats that rent out for £1400 - £2000 pcm. And that's not taking in to account the growth of the property.

Sure you will get the odd dodgy tenant now and again but put them on a 6 monthly agreement/contract, take a 75% deposit (for any damages), get two forms of reference (ideally from previous landlords or letting agents), furnish the flat with minimum IKEA furniture and find excuses to check up on them occasionally. That's what I do   whats the worst that can happen? Your not furnishing the flat with plasma TVs! Stories of tenants setting up a cannabis farm in your property or knocking down internal walls is a load of old cods walop.  

Property tip: Are there any new estates being built in your area? Still at the planning stages? Do you know you can buy property from the architects / house builders plans at vastly reduced cost. (of course it is harder to get a mortgage for these types of property purchase) You wait till they are built and flip it! Sell it as soon as the door handles have been screwed on and make a very easy £20k - £30k or more without doing anything!

Here's another tip: look into the Shale energy industry and companies that are set to profit big time from mining/processing/servicing it. Its going to explode in a few years to come, taking over the Oil industry.

All these hippy protestors need to get a reality check and shut the hell up. They have no idea what they are banging on about! Britain has some of the worlds largest shale gas reserves. There's a lot of money to be made for the savvy investor.

 i agree with most of what you say but i would recomend you look more closely at shale gas, this is not the profit making industry it is being advertised as moreover if it occurs on a large scale in our country the toxic effects to our water will be devastating. Look at what has happened in both america and australia with this industry before suggesting that all the protesters are hippy types who have no idea what they are on about.

[SeanK]

Firstly, I'd like to say you'd be better off speaking to a financial adviser for financial advice than ask on a window lickers forum  

Personally, I think you should have a wide portfolio of investments (not savings!!), you want your money to grow.

So stocks and shares. Good long term "boring" utility stocks (there is always going to be a demand for these companies products and services), that pays a good dividend and steadily grows through the years.
If you know what you are doing with sharing trading, its probably the lest hassle way of getting rich.

Physical Gold bullion bars and gold coins. British gold coins are capital gains tax free and you pay no VAT on gold. Look at the gold charts for the last 40 years, they are not making anymore gold! there is always going to be a demand for solid gold especially from emerging nations like the middle east, India and China. Having about 10% - 20% of your portfolio in gold (physical not a gold stock), would be a very shrewd move imo.

Property. This is a pain in the arris as has been said already. But the cold hard truth is that I know a ton of property millionaires than any other sector, business or other wise. The trick is to have more than one property rented out.
Always buy in a good location, if its cheap chances are its crap, remember your investing money so only buy in the best locations. Do you have a university in your town? In Edinburgh there are  3 - 4 bed flats that rent out for £1400 - £2000 pcm. And that's not taking in to account the growth of the property.

Sure you will get the odd dodgy tenant now and again but put them on a 6 monthly agreement/contract, take a 75% deposit (for any damages), get two forms of reference (ideally from previous landlords or letting agents), furnish the flat with minimum IKEA furniture and find excuses to check up on them occasionally. That's what I do   whats the worst that can happen? Your not furnishing the flat with plasma TVs! Stories of tenants setting up a cannabis farm in your property or knocking down internal walls is a load of old cods walop.  

Property tip: Are there any new estates being built in your area? Still at the planning stages? Do you know you can buy property from the architects / house builders plans at vastly reduced cost. (of course it is harder to get a mortgage for these types of property purchase) You wait till they are built and flip it! Sell it as soon as the door handles have been screwed on and make a very easy £20k - £30k or more without doing anything!

Here's another tip: look into the Shale energy industry and companies that are set to profit big time from mining/processing/servicing it. Its going to explode in a few years to come, taking over the Oil industry.

All these hippy protestors need to get a reality check and shut the hell up. They have no idea what they are banging on about! Britain has some of the worlds largest shale gas reserves. There's a lot of money to be made for the savvy investor.

 i agree with most of what you say but i would recomend you look more closely at shale gas, this is not the profit making industry it is being advertised as moreover if it occurs on a large scale in our country the toxic effects to our water will be devastating. Look at what has happened in both america and australia with this industry before suggesting that all the protesters are hippy types who have no idea what they are on about.

The tax payer will subsidise it, the investors will make a fortune and the tax payers will be paying to clean up the mess for
many years to come.
Carpet Dawg is right its a win win for all investors.