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Decent cheap areas to buy property as fail safe before living on a boat


thomask130

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15 minutes ago, PD1964 said:

How do you know the canal system is less seller? Have you ever done the South Yorkshire and Sheffield system, ever took your boat to Sheffield? I doubt you have as it looks like you don't even have a boat, lol.

Because I was born there, used to live there until not long back and spent a great deal of time hanging around the waste incinerator by the basin doing Dioxin tests. It's minging, and I don't think being on a boat will magically transport you to anywhere different than the environment 4 feet away on the towpath. 

Also I was talking about Sheffield, and not the whole waterway. 

Edited by barmyfluid
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6 minutes ago, barmyfluid said:

Because I was born there, used to live there until not long back and spent a great deal of time hanging around the waste incinerator by the basin doing Dioxin tests. It's minging, and I don't think being on a boat will magically transport you to anywhere different than the environment 4 feet away on the towpath. 

Also I was talking about Sheffield, and not the whole waterway. 

You obviously don't know the canal system up there then, rather like a lot of the people born in Sheffield, most don't even know they have a canal terminus in the city centre,  I take it you won't be going that way if you ever buy a boat? mind you can always go on Google maps and do a tour of the system. 

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1 minute ago, PD1964 said:

You obviously don't know the canal system up there then, rather like a lot of the people born in Sheffield, most don't even know they have a canal terminus in the city centre,  I take it you won't be going that way if you ever buy a boat? mind you can always go on Google maps and do a tour of the system. 

Who could resist the added attraction of having to go through Rotherham to get there?

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17 minutes ago, barmyfluid said:

Who could resist the added attraction of having to go through Rotherham to get there?

Maybe one day you may change your mind and maybe one day you may buy a boat, I doubt either will happen soon if at all.

Edited by PD1964
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20 minutes ago, PD1964 said:

Maybe one day you may change your mind and maybe one day you may buy a boat, I doubt either will happen soon if at all.

Well, I've been a boat owner before so, that's one down, the other....probably not, no.

So you've spent time as a liveaboard in Sheffield then? How long, where, and how did you find it, I'm genuinely interested.

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16 minutes ago, Athy said:

Form a queue.

It's not that busy, unlike the locks on the Southern canal network.

7 minutes ago, barmyfluid said:

Well, I've been a boat owner before so, that's one down, the other....probably not, no.

So you've spent time as a liveaboard in Sheffield then? How long, where, and how did you find it, I'm genuinely interested.

No just spend a lot of time on the on that canal system and enjoy it.

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3 minutes ago, PD1964 said:

It's not that busy, unlike the locks on the Southern canal network.

No just spend a lot of time on the on that canal system and enjoy it.

I'm glad you do. I've always liked the look of the eastern bit part, but I've no interest in Rotherham and Sheff. My family were scrap merchants, and I've seen most of the system going back into the 70's when dad used to cut up barges and take me along, it's interesting and needs preserving, but it's not a place I'd want to spend a lot of time these days, but everyone to their own. 

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2 minutes ago, barmyfluid said:

I wonder why.....?

Getting up there( Oh can't do the Trent) No hire fleets, not that many weekend boaters, far less continuous cruisers/moorer's, no big marina's, all of which makes for decent quiet cruising.

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9 minutes ago, barmyfluid said:

I'm glad you do. I've always liked the look of the eastern bit part, but I've no interest in Rotherham and Sheff. My family were scrap merchants, and I've seen most of the system going back into the 70's when dad used to cut up barges and take me along, it's interesting and needs preserving, but it's not a place I'd want to spend a lot of time these days, but everyone to their own. 

Most Southern boaters once up here tend to enjoy it, as they like seeing the industrial side of the canals and enjoy the non congested wider waterways rather then the queues and the miles of continuous Moorer's.

Edited by PD1964
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We love the northern waterways, we love Sheffield (one of our daughters lives there) and we've visited the city by boat - but considering it's a pretty lengthy there-and-back trip on the SSYC as a canal destination I thought the basin pretty disappointing. Hard to find a mooring as most of it long term or boat sales, not much going on and generally suffering from sadly being on the wrong side of town. 

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14 hours ago, Lily Rose said:

I wouldn't dismiss tracker funds simply on the basis of wanting the income rather than capital growth. Total return is what really matters and there's nothing wrong with drawing down dividends plus part of the capital growth if it's needed, particularly after each good year (which most years are).

The FTSE 100 currently yields just under 4% (https://www.dividenddata.co.uk/dividendyield.py?market=ftse100) and can be obtained at a cost of 0.1% pa or less (avoid the Virgin tracker!) whilst active UK income funds only yield a similar amount (as can be seen here... http://www.hl.co.uk/funds/help-choosing-funds/wealth-150) but have annual fees of 5 to 7 times that amount and are certainly not guaranteed to beat the index. 

Whilst being a fan of index trackers (for cost, reliabilty, simplicity and peace of mind) I will admit to hedging my bets and having a mix of trackers and active funds (mainly selected from the Hargreaves Lansdown Wealth 150 list).

Incidentally, I am not advocating use of HL as a platform. Whilst their website and customer service is excellent it comes at a price. 

Monevator's broker guide (http://monevator.com/compare-uk-cheapest-online-brokers/ ) is a good place to help figure out which broker to use. The best for you will depend on how much you want to invest and whether it's lump sum or ongoing monthly investments. Above a certain amount (probably about £50k to £70k) a fixed fee broker is usually best and below that a percentage-based broker is usually cheaper.

I use iWeb, Interactive Investor (both fixed fee) and Fidelity (via Cavendish Online) for ISAs and Hargreaves Lansdown (benefiting from a special 0.25% long-standing client deal, their normal fee is a high 0.45%) for my SIPP.

By the way, I'm not advocating selling existing property, particularly if you're getting a yield of 7.5% (I'm not sure where else you would get that, stock market or otherwise, without significant levels of risk), to buy into the stockmarket. But it is worth considering for new investment, if only for diversification reasons.

 

Thanks again - all food for thought. I should also have said that I'd prefer to stick to 'ethical' investments, or at least to steer clear of the most obviously unethical investments - tobacco, say - which rules out most tracker funds. Not all, though, so maybe I'll take another look.

On the point about drawing down capital growth as income - I think I started out assuming this is what I'd be doing, but (1) the thought of drawing down capital in a falling or struggling market worries me, and (2) there's obviously a certain appeal to having a stable-ish income from bond funds and dividends rather than a very up-and-down income from capital growth. Again, though, you've got me wondering.

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5 minutes ago, magictime said:

Thanks again - all food for thought. I should also have said that I'd prefer to stick to 'ethical' investments, or at least to steer clear of the most obviously unethical investments - tobacco, say - which rules out most tracker funds. Not all, though, so maybe I'll take another look.

On the point about drawing down capital growth as income - I think I started out assuming this is what I'd be doing, but (1) the thought of drawing down capital in a falling or struggling market worries me, and (2) there's obviously a certain appeal to having a stable-ish income from bond funds and dividends rather than a very up-and-down income from capital growth. Again, though, you've got me wondering.

Wanting to stay ethical is going to make things much harder, not least in terms of income because, for example, tobacco stocks are traditionally high dividend payers.

Regarding drawing down capital, at least you have that option with stock market investments. A bit more tricky with property I would think.

I would suggest a bit of Googling to read up on "Safe Withdrawal Rate", often referred to as the 4% SWR. (starter for ten... https://www.madfientist.com/safe-withdrawal-rate/)

One popular way of dealing with bad years is to keep a year or two's worth of income in cash and use this as a buffer in lean years and then top it back up after the good years. It's pretty rare, I think, to have more than two bad years. A bad year is often followed by a good year. Geographical diversification also helps as not all markets have their good and bad years at the same time.

I can't recommend Monevator highly enough for further informative, and often highly entertaining, reading. I'd also recommend the stock series by Jim Collins - http://jlcollinsnh.com/stock-series/

This one is US-based but most of the articles (also very informative and entertaining) are very relevant to us, apart from the references to particular funds and tax-efficient accounts which are obviously US.

 

 

 

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9 hours ago, PD1964 said:

Most Southern boaters once up here tend to enjoy it, as they like seeing the industrial side of the canals and enjoy the non congested wider waterways rather then the queues and the miles of continuous Moorer's.

 

The CMers have mostly been eradicated down south. 

And the worst 'miles of moored boats' I've ever encountered have been on the Shroppie. It just isn't a problem down here. 

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Over 20 years ago I decided to invest for income in Income Investment Trusts and never regretted that decision, getting a steadily increasing income with no hassle and ignoring the ups and downs of the market, a good example being Temple Bar.

For the last 5 years I have been doing P2P, not with the big 3 but widely spread.   I am now exiting most UK platforms as the level of defaults for property secured loans is proving to be too high.   Property valuations appear to be utterly useless and these valuers claim to be professionals.   Furthermore personal guarantees are rarely honoured.   I have found the European platforms much more profitable, earning over 12% plus with most loans bought back if they are late repaying, double what seems to be achievable in the UK.

 

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3 hours ago, JamesFrance said:

  I have found the European platforms much more profitable, earning over 12% plus with most loans bought back if they are late repaying, double what seems to be achievable in the UK.

But, but....the UK is  European....isn't it? ;)

That's really interesting - I suppose in a situation where you've not got the host country coddling the risk, it's not any riskier to use a different country. Well, maybe not the Unsolicited Email Bank of my Dead Uncle of Nigeria. How do you actually deal with them though? Looking at Lendify it's all Swedish and it doesn't appear to cater for outside investment, and there's not an awful lot on this list and quite a few in places that are, if not unstable, close to some pretty unstable areas:*

https://www.p2p-banking.com/p2p-lending-services-open-to-international-non-resident-investors/

12%+ is such an attractive figure, especially to folks without a big pot to invest. 

*Edited - unfair, as I've been drip fed the belief that anywhere with land links to Russia is about to be imminently invaded in recent months.

Edited by barmyfluid
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  • 2 months later...

ive enjoyed reading this , must admit that its all a bit confusing at the moment, cab I ask a straight question?

if you had 100k in cash ,where would you invest it , ive just sold my rented out house and im not wanting to get back into renting 

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1 hour ago, bastonjock said:

ive enjoyed reading this , must admit that its all a bit confusing at the moment, cab I ask a straight question?

if you had 100k in cash ,where would you invest it , ive just sold my rented out house and im not wanting to get back into renting 

Would'nt mind knowing myself however are you looking for a detached, semi detached etc

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5 minutes ago, thomask130 said:

Would'nt mind knowing myself however are you looking for a detached, semi detached etc

don't know about buying a house to let ,but im now thinking of buying a mooring and putting a wide beam narrow boat on it , that I think could be a possibility

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53 minutes ago, bastonjock said:

ive enjoyed reading this , must admit that its all a bit confusing at the moment, cab I ask a straight question?

if you had 100k in cash ,where would you invest it , ive just sold my rented out house and im not wanting to get back into renting 

We've decided to keep half our money in property (a cheap flat to rent out for now and give us a way back on to the property ladder later), and put the other half in peer-to-peer lending.

 

At one time I was thinking we'd put a good chunk of it in shares, and I think that would be the right thing to do if we were looking mainly for capital growth rather than income, and if we could be sure of leaving our capital untouched for, say, ten years. But we need a decent, steady income first and foremost, and we can't be sure we won't want to cash in our investments in the next few years (e.g. if living aboard doesn't work out for us). So on balance, we've decided peer-to-peer is the way to go and plan to divide the proceeds of our house sale between several different companies based mainly on their reviews and ratings on 4thway.co.uk. We reckon a return of 6% or so a year should be achievable without getting into the higher-risk end of the market.

 

But your situation, priorities and attitude to risk might all be different from ours, of course.

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9 minutes ago, bastonjock said:

don't know about buying a house to let ,but im now thinking of buying a mooring and putting a wide beam narrow boat on it , that I think could be a possibility

 

Where on earth are you going to find a widebeam mooring with residential PP and a widebeam boat all for your £100K?

 

 

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