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WHAT IS YOUR EXIT STRATEGY?
Many investors, have some sort of exit strategy in their head. Many landlords who own multiple properties started their journey with the exit in mind.
‘I want 10 buy to let properties and when I retire, the plan is to sell a couple to pay off some of the mortgages, sell a couple more for a lump sum to travel and have fun and the remaining five to be my pension’
How many of you started with the above in mind? Now, it could be you didn’t reach 10, you may have bought five, with the 2008 crash this had an impact on many landlords.
Two possible spanners in the plan above.
The lovely Section 24, which some landlords are still not aware of (as of this year, BTL mortgages will not be tax exempt, starting with 25% this year to 100% of the mortgage in 2020)
The other is Capital Gains Tax. This is why I asked, ‘What is your exit strategy’? Most landlords have mortgages in their own name and not in a company name. So, selling more than one property in any one financial year, would want to be avoidable!
I HAVE A PLAN!
I am looking for landlords who wish to sell their properties in the next 5-10 years, the exit plan! I have tenants who want to buy a property in 5-10 years. My plan is to match you up, with great incentives on both sides.
If you would like an informal chat on the phone or over coffee, then please contact me, either by phone or email shown below.
Let’s go into 2018 with a plan!
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