Buying stocks might seem easy, but picking the right one without a solid plan is tough. I've been trying to grow my $100K portfolio, but the tricky part is not having clear plans for when to buy and sell. Any tips on this would really help.
@@NancyBetty-x I agree. From my own experience with an investment advisor, I've got $1 million in a diverse portfolio that's growing fast. It's not just about having money for stocks; you need to know your stuff, stay determined, and be resilient.
@@JasonStathamOffical VICTORIA CARMEN SANTAELLA is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
@@LiamOlivia-4 Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for...
Hi Paul, just did your commercial property webinar yesterday and blew me away the difference between residential and commercial. I own a couple of BTLs but it hit home about making £15k per year and still having to work! I’m seeing lots of commercial property where I live (Dunfermline). With commercial property do the lenders do the same checks like seeing how much debt/outgoings you have just like a residential going through etc? I’m due to leave the service next year with no debt and a pension and the commercial route is where I want to go to give me the freedom to be my own boss. Thanks and I hope Florida is going well! Maybe I could catch you for a munro walk when your in Scotland. All the best.
Delighted you see an opportunity in commercial. The lending is far more about the deal and hardly about the individual especially if through a company... indeed maybe see in Scotland! (Florida was great and just home a few hours ago.)
Description of this video is a bit misleading, the video doesn't actually explain how to buy a property in a ltd company. ie. when creating the company surely some capital has to be put in the company before a mortgage company will lend the money, and mortgages available are different to BTL mortgages when buying a property in your own name.
Very insightful video Paul Thank you! I it possible to buy a main residence house in the name of your LTD company and pay no cap gains on the sale? Is that even worth considering? As you mentioned the cost of stamp duty for buyers is at the higher end.
You would need to sell to our limited company. Legals, stamp duty, capital gains etc. Work out this cost. Now to see what you save how much extra tax are you paying due to S24. Then weigh up the decision. Afterwards you are likely to be able to pay yourself profit more tax efficiently (dividend) but if you convert to serviced accommodation S24 is no longer an issue. these are some of the main elements. hope this helps.
@@nikkion2140 thinking about this the best way is to go to the Touchstone Education Facebook community (it is free) and over 17,000 members operating mostly in the UK, they will have very recent experience of setting up etc. Suggest you join and ask there. Good luck
@ Husheana if you place your residential home into a limited company, you have to pay the stamp duty. Also you may have to incur other costs such as buy to let mortgage with higher interest in the company, also the accountants fees on your yearly account in the company's name. But if you have several properties in your company then it may be your worthwhile.
It does apply but there is no adverse impact financially... might seem a funny answer so let me explain: You can only claim interest rate relief at the basic rate of tax for properties owned in your personal name. So if you are a 20% taxpayer thats fine, you can claim your interest expense to fully offset your mortgage interest. Section 24 also applies if you have no mortgage but is again not an issue as you have no interest payments! The section 24 issue is focussed on 40% 0r 45% taxpayers that can only claim 20% relief... hope that makes sense... I have seen this explained really badly (ie wrongly) on RU-vid recently and a basic rate tax payer who has "accidentally" become a landlord (eg inheritance / couple move in together and end up with extra property etc) and they only ever intend to have one property will cost themselves a decent chunk of cash if they then set up and run a ltd co. (probably £1,000 pa plus) and also stamp duty/capital gains for selling it over to ltd co. Hope this helps? Paul
@@PaulSmithTouchstoneEducation Thanks Paul for such a detailed answer. It seems the issue having a property in personal name comes around when the rental amount added to someones salary pushes them into the 40% rate
Thank you. Much appreciated. Liver function is very good I have had it checked a few times in the last few months. Weight loss in progress! I need to get down to around 85kg... Currently in Florida for 4 weeks health improvement. I see what you see! Paul
@@PaulSmithTouchstoneEducation Dont mean to be rude. Just concerned healthwise. Once a day meal is easy way to get rid of excess Wt. Give it a go and good luck.
Similar belly happened to me. Turned out to be diabetes. Now I don’t eat sugar and starch Paul’s had many treatments I guess he’s getting the best advice