New member in North London here

Mike Tapa · 25-01-2007, 03:42 AM

Hello good people.
Signed up today, totally new and still wet behind the ears.
Just about to start reading all of the stuff that Deep is sending to me and , no doubt start to get excited real soon.

Just a couple of (probably really dumb) questions to start with.

What does BMV mean?

I run a small Ltd company
Are there any ways in using the company to my advantage or should I keep all property related stuff seperate?

Also, I would be interested in chatting to any members living or dealing in north london.

Thanks In advance.

Mike Tapa.

john rattigan · 25-01-2007, 07:18 AM

Hi Mike and Welcome to the forum.

No such thing as a silly question on here

BMV refers to buying a property Below Market Value.
Here's a link to a thread with lots of other useful abbreviations

http://www.property-system.com/phpBB...pic.php?t=2423

Trickier to answer your second query, as it will depend on many other factors. there can be pro's and con's to buying through a company, but probably best to take expert advice from your accountant as what's right for one person may not be right for another.

Enjoy the forum.
Regards

John

Heidi Sutton · 25-01-2007, 04:37 PM

Hello Mike and welcome!

Heidi.

Mike Tapa · 25-01-2007, 06:30 PM

Hi John and Heidi.

Thanks very much for the warm welcome.

Once I get going, I will come here more often and try to contribute as much as I can.

Feel free to get in touch anytime.

At the bottom of a steep learning curve and looking up (my neck hurts!)

Ciao.

imported_admin · 25-01-2007, 07:01 PM

Hi Mike,

welcome to the Tycoons forum! don't worry about companies etc. my formula:

1. do minimum 10 successful deals

2. put at least £50k money in the bank and figure out your 10 year strategy based on what you've learnt you enjoy from doing 10 deals

3. Take £1,000 and go see an experienced property accountant

4. leave the headache to him/her

5. carry on doing deals

6. pay your tax

Deep

Leslie Mensah · 26-01-2007, 05:42 PM

Hi Mark, good to have you on the forum.

Mike Tapa · 26-01-2007, 05:46 PM

Thanks Leslie.

Deeps two huge books just arrived will be reading all weekend.

I may come up for air with lots of questions at some point.

Mike.

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