I could be wrong, but I think this was a Homes Under the Hammer type development with his son?
Presumably there’ll be a capital gains charge on the sale?
Is the plan to reinvest in another doer-upper?
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When I walk round the little towns and villages in North Yorkshire like Staithes and Whitby nearly every other house has a keybox outside for rentals. I think some get a mixed reaction from locals who get priced out but are expected to work there in shops etc.
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Thank you
I’m in Pattaya for 5 weeks plus ( my fourth time here in 13 months ) so the holiday bit is more than covered.
I haven’t worked for 3.5 years now, I would like a hospital porter job and have been “ offered “ one twice but I only want a zero hours contract position .. hopefully soon .
I would keep the air bnb ( it grossed £3412 in June an exceptional month but it does well)
We’re selling to give my son access to a large chunk of cash to do another house refurb I’m guessing / hoping I’ll benefit from this too..
We will make 70k? Shared profit After tax in 20 months by the time it sells
The initial investment and refurb costs were £140 k
I think I’ll stick with property for this time.
But not forever
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I do nothing .. literally nothing for the air BnB
My son runs it ( and reaps the rewards this year)
It’s just the best plan for one more small rental and a chunk of cash for him .. he does seem very good at making cash
But Jesus he is tight !!!
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