Offer accepted on first buy-to-let? How to setup ltd company for UK property investment

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Justin Wilkins

Justin Wilkins

Күн бұрын

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Пікірлер: 147
@puremustang732
@puremustang732 3 жыл бұрын
Great job Justin thx for all the info mate👍❤️
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Pleasure. Cheers for watching
@GoodBlokeOutdoors
@GoodBlokeOutdoors 3 жыл бұрын
subscribed mate.. already looking forward to going back and watching through your uploads !
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Cheers Liam! Appreciate you subbing, and hope you enjoy the videos 😃
@joedransfield
@joedransfield 3 жыл бұрын
Love this type of video Justin! Cheers
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Great to hear it, cheers Joe!
@joedransfield
@joedransfield 3 жыл бұрын
@@JustinWilkins Congrats on the accepted offers too!!! Exciting times ahead
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Thanks Joe! Yes really exciting and I will definitely share more on these once I’ve exchanged and completed 😃
@Stenchmaster84
@Stenchmaster84 3 жыл бұрын
Edits looking sharp these days Justin just as your information 👍🏽👍🏽
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Weeyyyyy!! Glad you think so haha, thank you!
@poweley
@poweley 3 жыл бұрын
Great video Justin 👍
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Thanks for watching Charlie!
@samuelramzy8492
@samuelramzy8492 3 жыл бұрын
Good content mate as always.
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Thanks Samuel 🙏
@lalailolo1986
@lalailolo1986 3 жыл бұрын
Good content Thank you !
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Thanks Teresa!
@daddo1600
@daddo1600 3 жыл бұрын
Peter seems like the best person you would want to be your accountant. I told my wife about your previous video where Peter discusses the benefits of paying yourself/getting money back out of your company with the least amount of tax.. When it becomes time I think I will be putting a call into Peter.
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Haha Peter is the man! He’s provided me with so much useful and valuable information the last couple of years. Definitely drop him a message when you’re ready to go 🙂
@jackwillis2757
@jackwillis2757 3 жыл бұрын
Great video !
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Thanks Jacko! 😃
@theweirdsiblings8391
@theweirdsiblings8391 3 жыл бұрын
thanks and keep up the good work
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Thanks for watching! Appreciate it :)
@robbiegray958
@robbiegray958 3 жыл бұрын
Loving the video. As a chartered accountant this pleases me a lot 👍
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Thanks for watching Robbie! And glad I've worded the accounting / tax parts correctly :) its so important that beginners get it right from the start!
@nathangrimwood1419
@nathangrimwood1419 3 жыл бұрын
Class video bro keep it up 🙌🏼 property can be stressful but it’s defo worth it
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Thanks Nathan - really appreciate you watching, and property is definitely stressful at times haha ... but its still always worth it.
@stevielike
@stevielike 3 жыл бұрын
Great video mate. I’m at a similar stage and age to yourself, have two BTLs in Liverpool and on the lookout for number 3 now. This will be my first in a Ltd company. Keep the content going, really interesting watching your progress.
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Awesome, amazing to hear and congrats! Appreciate you watching and I’m hoping to meet up with people investing in Liverpool in the future! Will be great to network with fellow investors there
@MrSAIVIBO
@MrSAIVIBO 3 жыл бұрын
Looking forward to seeing the two new properties Justin!
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Cheers Sam! Same here :) haha, I definitely look forward to sharing future updates and videos on them.
@freecompanysetup9441
@freecompanysetup9441 3 жыл бұрын
Great video Justin, if anyone does want to set up a ltd company we set it up entirely for free
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Thanks for watching and sharing this!!
@joline2730
@joline2730 3 жыл бұрын
Short, Sharp and informative Justin. Eager to see the new properties AND the refurb on your own place. Best of luck with the new BTLs. 🙂
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Haha thanks Jo! 🙂 I’m excited to show the new properties when they exchange and complete! Thanks for your support as always
@cancer2361964
@cancer2361964 Жыл бұрын
What do you set up your social media platforms and business plan
@alizaman8783
@alizaman8783 Жыл бұрын
Hi Great Vid. Are there specfications on share allocations to obtain mortgages?
@EugenioTomasillo
@EugenioTomasillo 2 жыл бұрын
Any hints on how to start a company / open associated bank account without a physical address in the UK ?
@ryanwollacott1087
@ryanwollacott1087 3 жыл бұрын
Great video thanks! How did you find the 2 BTL’s your buying yourself or through a sourcing agent? And are you instructing a project manager to deal with the whole refurbs? Thanks
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Hi Ryan, cheers for watching. So x1 I found on the market by viewing with estate agents, and the other x1 was direct to vendor :) the refurbs will be with a builder / project manager doing the work and overseeing it.
@rishs5378
@rishs5378 3 жыл бұрын
Great video as always Justin! Would you recommend using one company for BTLs and Flips or would you prefer them in separate companies?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Hey! Thanks for watching. Most accountants recommend separate companies for BTLs and Flips as they are quite different strategies :)
@sundayadeogun8517
@sundayadeogun8517 3 жыл бұрын
Great video, lot of info. I have an active LTD company registered in 2014 for my small business as a Railway Engineer, can you the company to purchase BTL ?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Hey! Thanks for watching and glad it was useful. So I believe you can, I would speak with your accountant for proper advice and ask them to change your SIC codes before hand :)
@suhail45678
@suhail45678 3 жыл бұрын
Wow, no purchases for a while and now two in one go. Awesome, really looking forward to more details.
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Yes! 😃 finally had 2 good purchases come around which I’m really pleased about. Can’t wait to share more info in the future!
@SA-sr9oq
@SA-sr9oq Жыл бұрын
Top vid
@JustinWilkins
@JustinWilkins Жыл бұрын
🤝🤝
@ianwilliamson4431
@ianwilliamson4431 3 жыл бұрын
Great videos I heard you say you have 2 going through at the moment. Will the banks allow you to have multiple mortgage applications running at the same time? I'm selling my home to release money to start up in buy to let but want to get a few properties quite quickly Thanks
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Hi Ian, great question. From what I’ve experienced it doesn’t seem to be an issue - in fact it can be easier to do 2 at the same time if you are using the same bank. Means only one credit and salary check required.
@abbieebailey
@abbieebailey 2 жыл бұрын
Great video! Very informative! How do you identify if you’re better off opening an LTD company or Sol Trader for B2L properties?
@JustinWilkins
@JustinWilkins 2 жыл бұрын
Hi Abbie! Great question, I highly recommend speaking with an accountant to get their opinion. Most accounting firms will allow you to arrange a 15-20 min phone call to ask questions before signing up to them.
@ianlombardo7728
@ianlombardo7728 3 жыл бұрын
only thing i would change is that paying the solicitors is the last thing to do. Why waste money on searches etc if the mortgage is declined?? set the LTD up first along with accountants etc, then bank account. this should be done prior to looking at properties.. once you then offer on a property the next step is the mortgage, then once the offer is out then pay the solicitor for searches etc..
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Fair comment, but to date I’ve never been declined a mortgage .. so I guess that’s why it hadn’t crossed my mind. I also like to get things moving quickly - searches take long enough as it is sometimes. Good idea though for anyone wanting to save money and cut potential risk out of it!
@oluadroit8692
@oluadroit8692 Жыл бұрын
Do you advise director salary for higher rate tax payers?
@user-gg1nf2vq1r
@user-gg1nf2vq1r 5 ай бұрын
Hi, thanks for the video. I have a renovation company and I want to get into flipping. Should I use my company for buying properties or create a new one?
@JustinWilkins
@JustinWilkins 5 ай бұрын
Yes typically you’d always keep your trading company separate from a property flipping or investment company. Best to speak with your accountant 🤝
@SK-gk8jw
@SK-gk8jw 3 жыл бұрын
Can you make a video on your current project, location price and potential layout or are you waiting to do that after completed.
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Hey! So I have done a bungalow tour, but will of course share a video soon with some of the works, the refurb costs and the extension plans 🙂✌️ thanks for watching.
@SK-gk8jw
@SK-gk8jw 3 жыл бұрын
@@JustinWilkins 👍👍👍
@prav.65
@prav.65 3 жыл бұрын
Hey! Fantastic vid! Quick one - did you put the offer to buy a house first before starting the company? Which way round would you do it first! Thanks👍🏽
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Hi! I personally placed the offer first, and then opened my company as soon as my offer was accepted. However opening ltd companies and business bank accounts is taking longer these days … so I would maybe look to open yours just before you start placing offers 👊
@ashford37
@ashford37 3 жыл бұрын
Great video. Are you buying in Liverpool ?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Thanks! And Correct! 😃✌️
@dorcaslovekitoko6305
@dorcaslovekitoko6305 2 жыл бұрын
Hi there Justin, as I'm so thankful for your video information and knowledge on property, I also would like to get into property as matter of fact I have saved and my bank are willing to lend me the loan for mortgage, that been said I would like you to help me if that is alright or possible for you. Thank you 😊
@007niji
@007niji 3 жыл бұрын
Good Video Justin! Any recommendations on good books to read to learn more around the tax and accounting side for limited company?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Hey! Thanks for watching, and no unfortunately there aren't any books that i've come across for the tax side of things. Just podcasts and videos mainly - I would recommend listening to the Property Hub updates for tax and legislation changes... but with regards to tax, I would focus on videos that give tips :)
@MF-qq1co
@MF-qq1co 3 жыл бұрын
Not sure if this is a silly question but does the B2L mortgage go in the company name or personal name ? I own the company yes but just want to understand if the liability is on my personal credit or the business?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Never a bad Q - so the buy-to-let goes into the company name, and the owner of the ltd co is the director for that property. So technically both ... these days the liability is considered both the company and the director.
@DesperateDan3231
@DesperateDan3231 5 ай бұрын
Most estate agents insist on seeing proof of funds before they take any offers seriously. How is this possible if you're waiting until the offer is accepted to set up a company and apply for finance? And how do you judge affordability before speaking to a mortgage broker? Will a mortgage broker give you quotes before the business is set up?
@Jason-rf3lv
@Jason-rf3lv 3 жыл бұрын
What companies/brokers have you used for mortgage deals?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
So far I’ve mainly worked with TMW and Together for mortgages and finance. I always use a broker for my mortgages, let me know if you would like an intro
@propertyhero5895
@propertyhero5895 3 жыл бұрын
Justin good video. Would you still go limited company if you started again today.?
@kai-uz7qy
@kai-uz7qy 3 жыл бұрын
i wouldn't purchase property in your own name unless personal res. depending on the tax situation obviously. best thing to do is work out a few ways you can do it, and work out which one would be most tax efficient/fit your needs/situation best (with high level figures as it will give you a decent idea)
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Yes definitely. It’s a good question but there are less and less reasons why you would buy in your own name now, unless it’s residential. I’m very happy with the decision I made and would make the same one again!
@odysseasv7138
@odysseasv7138 5 ай бұрын
@@JustinWilkinsHi. The thing with LTD is yes you save tax money, but you have more expenses overall (eg accountants, higher interest rates, business acc fees etc). And myself I need the cash flow out taken out of the LTD every month so I can re-invest on ISA therefore dividend tax on top. Especially if you aren’t higher bracket tax payer up to 1-2 properties can work better in personal name. I definitely want to build a 5-10 properties portfolio but what if I end up failing and stopping at 1-2? So I’m really having hard time deciding LTD vs own name for my first BTL.
@marketbeans
@marketbeans 3 жыл бұрын
Really grateful for your knowledge but am I mistaken or did you skip the part on the process of how to get a mortgage using this newly built ltd company 🙏
@JustinWilkins
@JustinWilkins 3 жыл бұрын
The mortgage is the last part really where you apply after setting up your ltd co and bank account!
@marketbeans
@marketbeans 3 жыл бұрын
Would be awesome if you could make a video on the nuts and bolts of how that process ends up looking like....🙏
@JustinWilkins
@JustinWilkins 3 жыл бұрын
100% will add to the list for a more detailed video down the line
@kai-uz7qy
@kai-uz7qy 3 жыл бұрын
have you got all of your properties in individual companies or all under one roof so to speak?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
At the moment I only have 1 'official' buy-to-let in 1 company, my residential home/flip is in my own name... but yes my 2 future buy-to-lets that I'm buying will go into the same ltd company. Not separate ltd companies for each - hope that helps :)
@winnerwinner168
@winnerwinner168 3 жыл бұрын
how did you put the property in a company? Is the btl on a mortgage?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Thanks for watching. It’s a fairly common setup now, which the banks are getting used too. It’s on a limited company mortgage 👍🏻
@winnerwinner168
@winnerwinner168 3 жыл бұрын
@@JustinWilkins what are the rates? Is it competitive?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Ltd company mortgages always tend to be higher rates - usually 3-3.25% for 75% LTV
@imraniqbal4447
@imraniqbal4447 3 жыл бұрын
Hey Justin. Great videos as usual. Quick question. Is there an issue in starting the process of getting the business set up, bank account set up well before it’s actually needed? What are the drawbacks there?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Good question! There are no drawbacks other than if it takes you 6 months to find and buy a property, then that is 6 months worth of accounting and books that you need to pay for, when you’ve got no income from property. The plus side is obviously that it’s more organised. Hope that all makes sense!
@bilal3196
@bilal3196 3 жыл бұрын
Great video! Just a quick question about LTD companies, when you buy a property for the first time in an LTD, do you no longer count as a first time buyer, are the two separate?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Great question, but its unfortunately one I've never been able to get a clear answer on... its definitely worth speaking with your mortgage broker or solicitor to find out!
@tomy12357
@tomy12357 2 жыл бұрын
Hey brother, just in case you haven’t already found the answer I’ll throw in my two cents. Now I’m no expert but I believe that if you buy your first property through a limited company it is classed as a separate entity and so you keep the first time buyer status for when you buy a property in your own name. This is obviously relevant if you’re using any first time buyer schemes like the LISA, Help to buy or 5% deposits. Hope this helps.
@ionutmititelu2083
@ionutmititelu2083 Жыл бұрын
Mate i hear from a broker , from a mortgage adviser they say you can't own a buy to let into a company if you dont have already a house , so what this people talking here ????? Buying into a company name as a first buy to let?? You cant set up a company for buy to let if you dont have your own home .
@rafferreira2852
@rafferreira2852 2 жыл бұрын
Can’t u open the company and business account before an offer has been accepted ?
@JustinWilkins
@JustinWilkins 2 жыл бұрын
Yes absolutely! There’s no right or wrong way around to … probably better to get it opened a little way in advance, just not too far ahead 😃
@kokoono7543
@kokoono7543 2 жыл бұрын
Hello Please i am sorry to disturb you. Please i am just stating in the buy to let market is it possible to contact you because you gave a lot of information and i have lots of questions.
@JustinWilkins
@JustinWilkins 2 жыл бұрын
Yes sure! Due to demand and the overall detail that I offer beginner, I have created a program for beginner property investors - propertyxprogram.com/
@vancedefusco7054
@vancedefusco7054 3 жыл бұрын
If you were a cash buyer would you still do btl?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Yes! Although I would probably buy with cash, and then refinance after 6 or 12 months. Use that money to purchase again 😃
@MrEksatmisis
@MrEksatmisis 3 жыл бұрын
Did you have to create one limited company for each of your income sources or can you somehow combine them into one main limited company?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Hi! So ideally you have different limited companies for different types of income - eg, Income from online sales should go into a separate ltd company to your buy-to-let income. However all your buy-to-let incomes should go into the same ltd co.
@RobboSystems
@RobboSystems 3 жыл бұрын
​@@JustinWilkins not sure about this, if something happened to one property and a tenant then they can come after all other items in that company. different companies cant be touched
@gregpowell2
@gregpowell2 2 ай бұрын
wouldn't you already have a company and bank account already set up before making offers on properties?
@JustinWilkins
@JustinWilkins 2 ай бұрын
Not everyone does, so it’s helpful to help give people that head start!
@neilmmaybury623
@neilmmaybury623 2 жыл бұрын
Absolutely love this, I’m still 12 months from being ready but this has so helped me make my mind up, thank you
@JustinWilkins
@JustinWilkins 2 жыл бұрын
Amazing to hear! Thanks for watching 😃
@nisus2009
@nisus2009 3 жыл бұрын
Rustic backdrop 😜😜
@JustinWilkins
@JustinWilkins 3 жыл бұрын
😂😂 🤷🏻‍♂️ well it’s all I have right now lol
@tobywhite330
@tobywhite330 Жыл бұрын
Hi Justin thank you for the Video. I am in the process of buying my first BTL and really unsure to use a llc or own it privately. If I buy it privately is there a way in the future the business could absorb the house? Many thanks
@JustinWilkins
@JustinWilkins Жыл бұрын
Hi Toby, great to hear it mate. Usually people purchase in Ltd companies or in personal name. It is possibly to switch from personal name to Ltd in the future, but it can be an expensive thing to do. Always best to just have a 20 min chat with accountants about these type of things - that’ll resolve all your questions 🤙
@Jason-rf3lv
@Jason-rf3lv 3 жыл бұрын
When buying a BTL under a LTD company do you have to pay council tax until you find a tenant or there is no council tax to pay as long as your property is vacant?
@jamieleaper5247
@jamieleaper5247 3 жыл бұрын
Ever had any problems getting a mortgage due to your new ltd company having no income? Great vids as always Justin 👍🏻
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Hi Jamie, I didn't have an issue when I purchased my first BTL - the banks tend to review the directors of the company, and check that they have a reasonable salary to back up the property purchase. I think further down the line when the company then has buy-to-lets, they start to look at the cash flow of the company :)
@jamieleaper5247
@jamieleaper5247 3 жыл бұрын
Thanks for the response Justin. Good to know!
@FreestylerWill
@FreestylerWill 3 жыл бұрын
Hi Justin, thanks for the valuable info! Just a quick question. If you are a first-time buyer and buy a BTL in your limited company, does this take away your first-time buyer benefits (such as stamp duty)?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Hey, thanks for watching! I'm afraid this is a question I've never been able to fully get the answer too... its possibly something that your mortgage advisor or solicitor could advise you on? Sorry I can't help further, and good luck! :)
@benwest1675
@benwest1675 3 жыл бұрын
Hey! Great video. I wanted to ask what your initial deposit was on your first buy to let and what age you managed to do this? Thanks, Ben
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Hi Ben, My first buy-to-let deposit was 20% on £58,000 which is just over £11k. With all the purchasing costs, stamp duty, solicitors, etc it came to around £16.5k. I got the money just from saving hard and running some side hustles 😃👍🏻
@benwest1675
@benwest1675 3 жыл бұрын
@@JustinWilkins Oh wow! That’s such an outstanding achievement. Well done 👏 what age did you buy your first buy to let property?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
My first property was a flat at 23, then my first buy-to-let was at 27. Looking back now I should have started earlier! Haha. When did you buy your first?
@benwest1675
@benwest1675 3 жыл бұрын
@@JustinWilkins Congrats for managing to do that in your early 20s. I’m still saving before I can decide to purchase a buy to let property, but hopefully soon. 🤞Thanks for your time. Have a lovely day. Thanks, Ben
@user-ur2ld2yh4l
@user-ur2ld2yh4l 3 жыл бұрын
Congratulations x 2, Justin. If there are 2 offers accepted, should we set up 1 ltd company to hold 2 properties, or set up 2 ltd companies to hold each property separately?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Thank you! I’m really pleased to have finally got a couple of purchases under way. In this scenario I will purchase both properties in the same limited company. There isn’t any particular benefits to separate companies - well no benefits that im aware of!
@user-ur2ld2yh4l
@user-ur2ld2yh4l 3 жыл бұрын
@@JustinWilkins Thank you.
@aidinb6790
@aidinb6790 2 жыл бұрын
Hi Justin, I like your videos a lot. I have a question; I have some cash resulting from selling my house and I am thinking of by a one bed flat for my residential and use to rest fir investment: For buy to let I can buy a 300k worth flat or I may be able to buy two smaller flats. What’s the best option in your opinion? And how much roughly cost to get an acceptable accountant based on your experience. Thanks so much
@adamleonard2037
@adamleonard2037 2 жыл бұрын
Hi Justin, been a fan of your channel for a while now. I have took quite a lot from this and your other video's, I am just about to start a LMT BTL ( just waiting for the perfect property looking at a few at the moment). Would love to get in touch via email just to seek your advice/ do's dont's from foundation. Unique to my strategy is I am in the Military and also a time served electrician whose background was mainly in HMO property around the Universities in MCR around 2010 (can only imagine their ROI now!) with a team of trades already set up. I am from the NW so will primarily be investing there while living down south. Would love to touch base with you if not now then in the future.
@GunCatPowMeow
@GunCatPowMeow 3 жыл бұрын
Wouldn't it be more advisable to have your ltd set up BEFORE going house-hunting? In London where all parties involved want to move quickly, I doubt that anyone would have the patience with you taking 2 weeks out of the sales process for company setup?!
@JustinWilkins
@JustinWilkins 3 жыл бұрын
These days yes, because things are moving so slow ... however, I don’t want to encourage people to set up a Ltd co too far in advance otherwise you’ll be paying monthly fees on a company that isn’t making any money. That could end up being £75 a month for 6 months - but It’s all personal preference. Thanks for watching!
@jay377771
@jay377771 3 жыл бұрын
Hi Justin once again very informative 👍. I'm currently looking to invest in a BTL in liverpool aswell going there this weekend from London. My budget is 50k to 100k What postcode would you recommend in the area? Thanks
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Thanks Jay! Glad it was useful, and great to hear you are visiting this week - good luck! Lots of postcodes I could recommend, but I personally look in L15, L13, L9, L6 and L4 mainly.
@WDR_66_Short-Term_Stays
@WDR_66_Short-Term_Stays 3 жыл бұрын
@@JustinWilkins I'm hoping to complete on my first BTL in L9 next month would love to network in the future...
@Tiagosilva-sy4xb
@Tiagosilva-sy4xb Жыл бұрын
Justin I'm ltd my salary is low, my company mensal profit it's about 5000£ I'm having problems to do a mortgage, can you help me?
@wendywolfman
@wendywolfman 3 жыл бұрын
Why does the video keep zooming in and out? Is that my laptop playing up?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Could be your laptop? There is a few bits in the edit but it shouldn’t be really noticeable? 😃
@jimbojimbo6873
@jimbojimbo6873 11 ай бұрын
I didnt know an account could do it for you
@out_of_ends
@out_of_ends 2 жыл бұрын
Would you recommend setting up the property business before you purchase or put down an offer?
@andrewsims5786
@andrewsims5786 Жыл бұрын
Hi Justin. Would value your opinion on a couple of questions: 1) Would you put each property you own in it's own ltd company, or combine in one company?
@JustinWilkins
@JustinWilkins Жыл бұрын
This is an interesting conversation and topic. There are pros and cons to both ways of structuring your investments. To date, I have personally put my properties into 2 companies that I own.
@ruudvandebeeten
@ruudvandebeeten 3 жыл бұрын
I would set up the limited and bank account before or during making offers. No stress when an offer is accepted. :).
@JustinWilkins
@JustinWilkins 3 жыл бұрын
Yes fair comment and point ... The only reason I don’t suggest that is because I’ve seen people do that, and then pay for a limited co for 6 months with no properties in- so it’s a hard balancing act. But to reduce stress I’m 100% with you! Thanks for watching
@BigBoss7777777
@BigBoss7777777 3 жыл бұрын
@@JustinWilkins how much does it cost for a ltd company? Do you have to pay a monthly fee?
@JustinWilkins
@JustinWilkins 3 жыл бұрын
@@BigBoss7777777 So you don't pay a fee for owning the ltd company, but you do pay your accountant to help with your accounts. This can vary but usually costs £60-£100 per month.
@BigBoss7777777
@BigBoss7777777 3 жыл бұрын
@@JustinWilkins jeez, that's going to cut through your profits. Seems like it's only worth it once you own several buy to lets.
@ianlombardo7728
@ianlombardo7728 3 жыл бұрын
@@BigBoss7777777 set it up yourself. It is so easy. I have 3 LTD co.s it is as easy as opening a bank account.. Just make sure you add the 3 - 4 relevant SIC codes as lenders will insist you have certain ones (all though not all)..
@JM-tm4hb
@JM-tm4hb Жыл бұрын
Applying for properties and being rejected is like doing dating online. Most would reject you but that's OK as you just need one at a time offer being accepted.
@stephenhawkingsfootballboo6603
@stephenhawkingsfootballboo6603 2 жыл бұрын
Buying a house through a company but using a personal mortgage guarantee? Doesn’t really make sense mate…
@JustinWilkins
@JustinWilkins 2 жыл бұрын
Its the way it works i'm afraid! When you get a mortgage in a limited company, you have to give a personal guarantee as a Director. Its a mortgage lender requirement, sadly :/ Ask any ltd co property investor with a mortgage - they had to do it!
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