How to live in a 5Bed Mansion with Indoor Swimming Pool for £250 per month
I hope I’ve been pointing you in the direction of your home being not only where you sleep, eat and watch telly but also a useful business asset. To take the system to the max you need more than a 2-bed mid-terrace can offer. You will also need garden space, shed space and secure parking at the very minimum.
If you can’t see yourself affording such “luxuries” then start thinking about Multi-generational living. Just 30 years ago it was not uncommon to find 3 generations in one household. Nowadays this is much rarer. It seems to have gone out of fashion. This is a shame because multi-generational living, within a large property, makes absolute sense. Let’s take a look at my own family. My Grandmother (81) lives in a 3-bed house mortgage free. My mother and my step-father live in a 3-bed house mortgage free. I have my portfolio of course but my own previous residential is a 2-bed with a £100,000 mortgage. Total value of the 3 comes to c £325,000. A quick scan of Right Move shows that I could get this Bobby Dazzler for around about the same amount of cash:
Full description:
A handsome, detached, Victorian Villa of tremendous character set within a generously proportioned walled garden which has retained a number of fine period features.
GROUND FLOOR: Vestibule, Entrance Hall, Drawing Room, Dining Room, Kitchen/Breakfast Room, Study/Bedroom 5 with en-suite WC, Utility Room.
FIRST FLOOR: Landing, Three Double Bedrooms, Single Bedroom 4, Dressing Room, Family Bathroom.
EXTERIOR: Large well stocked south facing walled garden with Summer House, Rear Garden, Single garage with dog kennel and private off street car parking.
At the moment I pay £180pcm Council tax per month with my Mum and my Gran paying about £100 each. With my £500 per month mortgage, that makes a total layout of £880 to the man. If all 3 of us were to sell up we could buy the aforementioned 5-Bed and be looking at a monthly layout of about £500 per month (£300 mortgage/ £200 council tax).
Land is the most important factor though as land gives you options. One of the main ideas to follow would be the construction of small holiday chalets on site. Check out The Cube (http://www.dailymail.co.uk/sciencetech/article-1384635/10ft-cube-home-includes-lounge-shower-kitchen-DOUBLE-bedroom.html). These huts provide £1000 in income per year just through the feed in tariff. If you live in a remotely tourist area then I’m pretty sure you’ll get takers via Air BnB too (https://www.airbnb.co.uk/). Moody teenagers can be banished to The Cube when they reach that difficult age. Most importantly, little extras like this create space. Space = Cash if looked after and developed properly. Remember, Land is a good buy because they aren’t making any more!
Having space could allow you to earn money from the current Foster care crisis in the UK. Years of negative publicity on the telly makes Joe Public think that any Foster child is immediately going to rape your children and steal your telly. In real life all you ever hear from actual foster carers is how rewarding a job it is. For rewarding, read “monetarily rewarding”. You don’t hear many factory workers call their job rewarding do you? In my area Foster carers are paid £350 per child per week. Imagine you took on a Brother and a Sister for a year. That’d bring in £35k+ pa. This is huge! Yes the work will be involved but it inherently fits into the System. There is no boss on your shoulder, there is a large amount of flexibility in the job and you are doing something good for society at the same time. If you are looking after some kids then they are not being looked after by some crazy paedo like Jimmy Saville and his evil ilk. Always think of it that way. Here is how desperate the authorities are:
“AT LEAST 8,750 new
foster families need to be found across the UK in the next 12 months to avoid a
crisis in foster care in 2012, a leading charity has warned today (20
December).
The new figures,
published by the Fostering Network, show the scale of the challenge for
fostering services as they struggle to provide the right foster homes for all
the children who need them.
The number of children in
care who need foster homes has risen for five years in a row, and is continuing
to rise. There is also an ageing foster carer population and around 14 per cent
of the workforce retire or leave every year.
Without these extra
families, too many children will have to settle for second best. This might
mean living with a foster carer who is a long way from the child’s home, school
and family, or who does not have space for their brothers and sisters, or even
living in residential care when fostering has been identified as the right
option.
Robert Tapsfield, chief
executive of the Fostering Network, said: “These figures are alarming – we
could be facing a real crisis when looking to provide the most appropriate care
for children who cannot live with their own family.
“All children in care
need a family they can grow up with who can love them, be ambitious for them
and help them achieve their potential. For a growing number, foster care is the
best option.
“By becoming a foster
carer people can help the children they welcome into their homes to have the
best possible opportunity of a positive future, do well at school and be
successful in later life.
“Foster carers come from
all walks of life, from teachers to factory workers and builders to nurses. If
you want to work with children and have the right skills to foster, then you
can help make a real difference to children in your area.”
An extra 7,100 foster
carers are needed in England, 1,000 in Scotland, 550 in Wales and 100 in
Northern Ireland.”
Let me put another spin
on the “Big House” idea. Last year I was flicking through Rightmove looking at
the best houses in my County. One caught my eye as it had an indoor swimming
pool. It was on the market for £500k (which was overpriced in my opinion). A
couple of weeks back I noted that the person who bought it had listed it on the
holiday cottage market (main site is holidaycottages4u.co.uk). This property
was 5 bed, double garage, in quaint village. 30 mins to Edinburgh, 20 mins to
Perth,20 mins to Gleneagles, 25 mins to St Andrews. I mention St Andrews as
this is the sort of place a Golf Pro might rent for the week whilst
participating in The Open.
Now imagine you own this
place but you know you are going to be out of the country for at least a month
each year. The owner of this property was renting it out for £1200 a week.
Therefore 5 weeks a year would bring in £5k after the agency takes it fees. I
imagine a £175k mortgage on this property (remember we have raised £325k
through the sale of the various family properties) would cost a maximum of
£8000 per year at today’s rates. Therefore the £5k brought in via the holiday rental
market brings your total outlay down to £3000 per year. That’s £250 per month!
In other
words, by simply taking your holidays at the same time as your parents/ kids (you
don’t even have to holiday together) I can put you in a 5 Bed Mansion with Swimming
Pool for less than Council rent for a 2 bed! MY GOD THIS TIP ALONE IS WORTH THE PRICE OF THIS EBOOK!
Note the Tree House to the rear. If
you developed that to a habitable standard it would undoubtably rent via Air BnB.
Let’s say you rent it one weekend a month for the 11 months you are at home. That’s
another £550 in the bag.
Finally,
let’s not beat around the bush, the Authorities are more likely to approve your
Foster Care application if you live here rather than amongst the chimney pots of
Industrial Scotland. That’s how the system works.
Don’t waste time thanking me though
– just do it.
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