Botre
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Everything posted by Botre
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Except that for those kind of properties (unlike the London ones) you really can't just bake 100% vacancy into the story. An ltd is a nice idea, you get less taxes on your rental income (you exchange them for taxes on your salary and taxes on your profits, but in the end you probably end up on the winning side and it's financially safer anyways). Yes: buy-to-let is a thing, but it's risky as fuck and constantly getting riskier (from a political point of view, it is not hard to convince the 'working' people that it's a good idea to milk the part of the population that buys living spaces just to rent them out for twice the price, it really isn't). I don't think many people have managed to get from 0 to 8 houses by just doing this, and I'm sure many have tried. A contingency plan would make bob a lot smarter. But hey, the sky is the limit.
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Sorry, I'm not from the UK, far from a tax-expert :p So indeed its: You pay 8 * 255 * 12 / year on mortgages = 24480. You collect 8 * 500 * 12 / year in rents = 48960. You get a personal allowance = 11000 Taxable income = 3796000 Income tax = 8784 Total income = (48960 - 24480 - 8784) / 12 = 1308 / month. Ok so this could work IF he can find 8 properties with the absurd mortage/rental value ratio (it IS absurd, I talked about this with a realter) , which was my first point addressed. Keep in mind also that it takes 8 houses to make a decent living of 1308 / month. Let's take a look at what you'll be making half way (4 houses). You pay 4 * 255 * 12 / year on mortgages = 12240. You collect 4 * 500 * 12 / year in rents = 24480. You get a personal allowance = 11000 Taxable income = 13480 Income tax = 2696 Total income = (24480- 12240- 2696) / 12 = 795 / month. On top of this he would be remortgaging and remortgaging and remortgaging his properties to buy new ones because he has 0 capital (at 4 houses he makes 795 and at 8 he makes 1308, he still needs a place for himself to stay and does need food and water :p), this was also somehow completely absent from the calculations.
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Sorry but this is a bit naive. 1. If the area is highly desirable and you can rent out the property easily for 500/month, you can forget about the 80K pricetag. 2. You're completely ignoring rental income tax. You must normally pay income tax on any profit from renting out property you own. Put simply, your profit is the sum left once you’ve added together your rental income and deducted any allowable expenses or allowances. Your rental profits are taxed at the same rates as income you receive from your business or employment – 20%, 40% or 45%, depending on which tax band the income falls into. Btw: you can't deduct your mortgage as an expense, only the interest on it. You pay 8 * 255 * 12 / year on mortgages = 24480. You collect 8 * 500 * 12 / year in rents = 48960. You pay 40% taxes on your collected rent (higher rate tax band) = 19584. Congratulations you make 408 per month ((48960 - 24480 - 19584) / 12). So even if your house prices and renting numbers were right (and trust me, they are not), you would be living in absolute poverty for at least the next 25 years. 3. If you think managing 8 properties is "retirement", think again. Finding tenants, collecting rent and property maintenance is a huge pain in the ass. Your numbers are off, you are ignoring important costs and underestimating the actual work involved.
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Your taste is not special, get over it.
History doesn't repeat itself, but it does rhyme. Humans have been going to war for more than 2000 years, I don't think we've quite unlearned it yet
Some people argue that ww3 has been going on for quite a while already. Mhm, maybe.
Alpha or Beta?
The cost of recursion is language/ compiler-dependent and it can actually be done extremely efficiently (albeit not so much in java). https://en.wikipedia.org/wiki/Tail_call
Deep
Mhm, I'll do this one in Java tomorrow and post it here so you can compare
Voted yes on all my accounts
lelelel
Ruuuuuuuuuuude
I could help you. Front-end: Angular, JSF, HTML5, CSS, Bootstrap, etc... Back-end: Tomcat, Apache, JEE, Spring, Hibernate, Databases (Oracle, MySQL, ... ), etc... If you can pm me a list of features or even better an actual design spec I can get back to you with an estimate of cost / time
