There are many ways you can maximise your rental income, many of which comes down to adding value to the property which can take many forms including: Adding an en-suite Upgrading the kitchen Adding another bedroom Getting a property with a garden or parking space or both Accepting pets Remortgaging to a better rate, which […]
What everyone ought to know about Buy to Let mortgages
A buy to let mortgage is a loan taken out for a property with the intention of letting it out to tenants, with the loan being secured on the property. The final aim is to get tenants to pay rent with which you cover the costs of the mortgage and once the mortgage is paid […]
Read Time:
7 Min
0
10 Places with the best and worst rental yields UK for real estate investors
Rental yield is the return you can expect to make on a rental property in a year. Its represented as a percentage. You can calculate your rental yield by dividing your annual rental income by the value of the property, times by 100. Cities with the best yields 2021 Glasgow 7.52% Manchester 5.19% Birmingham 4.92% […]
Read Time:
1 Min
2
Factors affecting your rental income in real estate investing
There are many factors that can affect how much you make from your rental properties some of which you cannot control however, there are some factors which you can control. Thus, I’m presenting some of these factors to you to help you increase your rental income and maximise your wealth. 1.Location of the property This […]
Read Time:
6 Min
0
5 Passive income ideas explained
“If you don’t find a way to make money while you sleep, you will work until you die.”-Warren Buffett Passive income is income that requires little or no effort to maintain once created. It is the opposite of active income as you don’t need to continually do something for it every day, for a set […]
Read Time:
11 Min
7
How zero based budgeting works
Zero based budgeting is very similar to the envelope method but its more precise, the idea originates from business accounting. Its a type of budgeting where you allocate every single penny you earn to a different budget envelope. You have to identify any expenditures you will encounter, usually over the next 12 months and than […]
Read Time:
3 Min
2
Steps involved in budgeting: 4 steps explained
A budget, a plan listing expected expenditures and incomings over a set period of time, is a short term financial plan but over time it accumulates into a cash flow, a longer term financial plan. Steps involved in creating a budget Step 1. Identify and list all of your incomings These might include earned or […]
Read Time:
3 Min
4
Envelope budgeting explained in 3 steps: how it works
Envelope budgeting is a traditional method of budgeting. An individual would get a few envelopes label them eg. rent, groceries etc and place an amount of cash they can afford to spend on that specific category eg. £300 on groceries a month. Every time they go grocery shopping they would take out an amount of […]
Read Time:
4 Min
2
Income tax bands explained: a how to guide
Income tax is a direct tax imposed on ones income, this can be earned (eg. income from ones job, this can be on an employed or self employed basis) or unearned income (eg. benefits). The personal allowance This is the amount an individual can earn before paying income tax. As in the 2021/22 tax year, […]
Read Time:
3 Min
0
What everyone ought to know about budgeting: Budgeting explained
A budget is a plan listing expected expenditures and incomings over a set period of time such as, a month. There is one main objective of a budget which is to provide information that can help people take control over their finances, this information includes: what one can afford to spend on, repay or save, […]
Read Time:
7 Min
3
2