Who would have thought there would be so many rules and regulations in buying a small flat (err, apartment). I have to have gas and electricity inspection certificates, lodge the deposit with a goverment registed scheme, credit check my tenant, tell the tax man about my new income - and if I screw up one step I could be prosecuted, fined AND have to give the tenant 3 months rent back as compensation!!!
Further, making it all add up to "profit" is doing my head in. Not only do I have to give te goverment a huge wod in capital gains tax when I eventually sell up, trying to work out exactly what I can claim back is proving impossible. Anyway, I'm determined - if others can do this, I can. I want to have given up work in 5 years. This will be my job!
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