secondary incomes apart from Plastering?

Status
Not open for further replies.
johniosaif

johniosaif

Private Member
During the quiet times /bad rates for plastering I used to do doorwork ie security(bouncing) on the weekends. I also bought and sold property for the purposes of renovating in the good times until the banks said NO way we will lend you money in these times. Any other guys have second incomes?
 
Last edited:
Rhys said:
Thinking about starting up doing wedding photography, done several already.
Click to expand...

Good shout I reckon mate. Most of the skill has gone from it now, it's all about being good on the computer. I've got a cousin and an uncle of the wifes doing this full time, both making a good living.
 
which one is it mr clamp it just takes me to a list of your videos.

ps whats the one where you have some sort of black headgear on and a red............apple? in your mouth?
 
essexandy said:
Good shout I reckon mate. Most of the skill has gone from it now, it's all about being good on the computer. I've got a cousin and an uncle of the wifes doing this full time, both making a good living.
Click to expand...

Cheers, Ive a degree in photography so that'll help - but yeah, everyone with a computer and a camera think they can take professional photos. I was taught old-school with the stuff called film and baths of noxious chemicals in dark rooms but computers are a lot cleaner and easier :RpS_thumbup:
 
It takes a bit of time to mature but try investing in the buy to let market. Makes me half a wage a month with 2 properties. Now is the time to invest in buy to let if you know how. Don,t take to much in on what you see on Homes Under The Hammer, but buying below market value and starting with a minimum 6% net yield or 8% gross is a good start. If it is found to be not for you then hold on to it until the market picks up, renovate and sell.

These what buy a run down house, make it into a palace to rent are daft. A few years down the line when the market picks up they will be worn out. Keep it basic for renting and do up to sell when the times right. Think twice about buying a 9" solid wall house. The old terrace houses are bottomless money pits. With what,s going to happen over the next few years with insulation be prepared to spend on solid wall houses or buy now and get it up to at least a 'C' epc rating.

You need to buy at a price that after buying costs and selling costs you are on to a winner otherwise you have made a Capital loss before you start.

For me it is towards my pension.
 
Impossible nowadays rigsby prices have quadrupled in 10 years if you havent got cash or capital no chance
 
Rhys said:
Cheers, Ive a degree in photography so that'll help - but yeah, everyone with a computer and a camera think they can take professional photos. I was taught old-school with the stuff called film and baths of noxious chemicals in dark rooms but computers are a lot cleaner and easier :RpS_thumbup:
Click to expand...

Good man, my cousin started back in the days of film and to be honest I didn't rate him, digital was a God send for him. My wifes uncle only started on weddings later in life and having asked him a few questions about photography I realised he'd be fecked without his computer. lol

Rigsby said:
It takes a bit of time to mature but try investing in the buy to let market. Makes me half a wage a month with 2 properties. Now is the time to invest in buy to let if you know how. Don,t take to much in on what you see on Homes Under The Hammer, but buying below market value and starting with a minimum 6% net yield or 8% gross is a good start. If it is found to be not for you then hold on to it until the market picks up, renovate and sell.

These what buy a run down house, make it into a palace to rent are daft. A few years down the line when the market picks up they will be worn out. Keep it basic for renting and do up to sell when the times right. Think twice about buying a 9" solid wall house. The old terrace houses are bottomless money pits. With what,s going to happen over the next few years with insulation be prepared to spend on solid wall houses or buy now and get it up to at least a 'C' epc rating.

You need to buy at a price that after buying costs and selling costs you are on to a winner otherwise you have made a Capital loss before you start.

For me it is towards my pension.
Click to expand...

I with you on this mate. I've got three buy to let properties and they are working well for me. Once I've got the reno and extension finished on my own place I'm going to buy another one.
 
ive a buy to let aswell, i dont intend on selling it, im hoping it will provide some of my pension when im an old giffer.ive never let it out yet tho,as were renovating it when time allows.
 
Owls does it cost much to keep ticking over if theres no one in i ?

Im thinking of pulling some money out of my house to get started on a project, but don't know how quickly i could turn it around with work and stuff.
 
Hey Rigsby, you don't have a black African bloke living on the top floor and a penchant for a certain older lady of ample charms do you :RpS_laugh:
 
Airborne said:
Owls does it cost much to keep ticking over if theres no one in i ?

Im thinking of pulling some money out of my house to get started on a project, but don't know how quickly i could turn it around with work and stuff.
Click to expand...

the mortagage payment is £460 a month, but ive had it empty for 18 months now, because weve been that busy with work all year.
i didnt estimate id be busy all year so i guess its costs me over 6 grand in payments,with no return, but as said im looking at it long term.planning on spending 20 odd grand on it, kitchen, bathroom etc its in a good area so i see it as a sound investment.
 
owls said:
the mortagage payment is £460 a month, but ive had it empty for 18 months now, because weve been that busy with work all year.
i didnt estimate id be busy all year so i guess its costs me over 6 grand in payments,with no return, but as said im looking at it long term.planning on spending 20 odd grand on it, kitchen, bathroom etc its in a good area so i see it as a sound investment.
Click to expand...

Is it not worth renting it out as it is owls. just till you get time to do the refurb and at least its bringing in some revenue
 
I used to do pencil portraits but it really bores me, i have a few columns in a couple of building magazines (cant say), do a small bit of standup (which doesnt really pay much), moderate the plasterers forum (doesnt pay **** all), roof repairs which is easy money but pays well.
 
flynnyman said:
I used to do pencil portraits but it really bores me, i have a few columns in a couple of building magazines (cant say), do a small bit of standup (which doesnt really pay much), moderate the plasterers forum (doesnt pay **** all), roof repairs which is easy money but pays well.
Click to expand...

wonder why that is Flynnymarra.................:RpS_confused:
 
Rigsby I own three buy to lets and they tick over ok. Why don't u like the terrace?? I have met several property millionaires over the years in my previous job as a financial advisor and they all made and held most of their cash in the bog standard two up two down. Best yields by far. You can get houses in Liverpool for 40k which can be rented out at 450 per month. If I won the lottery I would buy 15 of those and sit back.
 
Rigsby said:
It takes a bit of time to mature but try investing in the buy to let market. Makes me half a wage a month with 2 properties. Now is the time to invest in buy to let if you know how. Don,t take to much in on what you see on Homes Under The Hammer, but buying below market value and starting with a minimum 6% net yield or 8% gross is a good start. If it is found to be not for you then hold on to it until the market picks up, renovate and sell.

These what buy a run down house, make it into a palace to rent are daft. A few years down the line when the market picks up they will be worn out. Keep it basic for renting and do up to sell when the times right. Think twice about buying a 9" solid wall house. The old terrace houses are bottomless money pits. With what,s going to happen over the next few years with insulation be prepared to spend on solid wall houses or buy now and get it up to at least a 'C' epc rating.

You need to buy at a price that after buying costs and selling costs you are on to a winner otherwise you have made a Capital loss before you start.

For me it is towards my pension.
Click to expand...
very well thought through,prices gone through the roof in londons auctions at the minute, the end users are paying top dollar
 
Artisan998 said:
Is it not worth renting it out as it is owls. just till you get time to do the refurb and at least its bringing in some revenue
Click to expand...

theres no plaster on the walls, its just a shell. we ripped it all out, with the plan on starting it at the same time. Weve re roofed it and put some new windows, and first fixed the plumbing, but thats it, thus far.
 
i agree that you must build for the future.
my brother and myself went into the buy to let years ago, we had 21 lets. it was just to much aggro. everyone is against you, the income tax, the vat office, the local council , the tenents. i would not go down this road again. do not purchase anything with a deed, log book, or any other certificate of ownership. put your thinking caps on!
 
windy said:
Rigsby I own three buy to lets and they tick over ok. Why don't u like the terrace?? I have met several property millionaires over the years in my previous job as a financial advisor and they all made and held most of their cash in the bog standard two up two down. Best yields by far. You can get houses in Liverpool for 40k which can be rented out at 450 per month. If I won the lottery I would buy 15 of those and sit back.
Click to expand...

agreed but its all relative, i guess. i give around 150k but with the alterations on it, it will be worth around 220 at present plus a yield of around 8%
 
malc said:
i agree that you must build for the future.
my brother and myself went into the buy to let years ago, we had 21 lets. it was just to much aggro. everyone is against you, the income tax, the vat office, the local council , the tenents. i would not go down this road again. do not purchase anything with a deed, log book, or any other certificate of ownership. put your thinking caps on!
Click to expand...

21 lets....
thats big league.
im looking at going down the commercial route next year ie buying a shop with a longterm let with a big brand, most well known brands lease there shops on longterm leases and the yields are good.
 
windy said:
You can get houses in Liverpool for 40k which can be rented out at 450 per month. If I won the lottery I would buy 15 of those and sit back.
Click to expand...

Wonder whether the market will ever pick up in Liverpool nothing is shifting. If you buy there you got to be prepared to hang on to it for a long time.
 
windy said:
Rigsby I own three buy to lets and they tick over ok. Why don't u like the terrace?? I have met several property millionaires over the years in my previous job as a financial advisor and they all made and held most of their cash in the bog standard two up two down. Best yields by far. You can get houses in Liverpool for 40k which can be rented out at 450 per month. If I won the lottery I would buy 15 of those and sit back.
Click to expand...

you would need to keep your lottery win to keep up with repairs when tennants move out and have wrecked the place and took boiler, ripped the copper out, smashed all the bath in. we refurb alot on merseyside for landlords some of the tennants right animals
 
Status
Not open for further replies.

Share this page

Back
Top