Buy to Let now...or wait a year??

StevieJ

chucky wrote: »

i don't dispute your statement is right or wrong but wonder if you feel the same way about the petrol forecourt next to the motorway that charges petrol at a massive premium or the supermarket that puts many farms out of business due to the way it runs it's business.

i actually have more sympathy for many BTL landlords rather than these big businesses who are trying to improve the quality of life of their family and invest in their future.

they're all trying to make a profit - nothing else.

Also where would all the STR's live if there were no BTL's

shellbell63

geoffky wrote: »

that old chesnut...we are providing a service!!! if you wish to provide for your pension go out and do what i have had to do and thats work bloody hard for it. i am 44 and i have retired and never need to worry about money(unless we have total meltdown) the problem is you think that buy being a landlord you provide for the renters. who i think have a better moral compass than you but if you and your ilk had not gone into btl maybe a large percentage of those people could afford to buy their own house but due to the fact that most blt lied on their mortgage applications thus enabling them to out bid the normal joe public you all caused the prices to go higher and higher in your greed...That was what really happened with blt...you stopped odinary working people having a roof over their heads due to the lying and greed of btl landlords...the last couple of years in the housing market was only being shored up by btl landlords because you had priced everyone else out of the market.
i hope you enjoy your retirement but never ever forget that you made other people pay a high price for it...

You're really not very nice are you. We only wanted a simple discussion.
I'm 44 too - and worked bloody hard too. But when I've stopped working bloody hard I'll still have to live. And not knowing just how long exactly I'll live, I'm not sure if 50 quid or 100 will be enough.
BTL mortgages are higher rates than for own purchase & deposits need to be bigger, so we ain't pushing borrowing costs up. As I said - never got into a war over a property - if someone wants to buy it to live in - fair does - we back off & will NOT compete.
However much venom you spew, we are not to blame for government selling off all council houses. If they hadn't, maybe there wouldn't be a market for BTL. As it is many people would end up homeless if wasn't for private landlords.
And whats your gripe anyway - in many European countries, very few people buy - so there are a few very wealthy BTL owners there. Noone complaining there.
I agree there needs to be redress so FTB can get on the ladder - if they want to. However I fail to see how I've ever pushed up the house prices. I'm looking at costs & returns. No way I'm gonna rush in & pay ridiculous prices as it wouldn't be cost effective. So I'm looking for cheap property not inflated prices. I'd bet BTL buyers alone, would drive prices down not up!

ncooper1974

dopester wrote: »

Would retiring require living off the rents or selling up to release the capital appreciation?

I certainly dont need to sell if thats what you're asking. I can live of the rents, as well as other investments that I have.
Or am I greedy cos I have made other investments?

mrstinchcombe

ncooper1974 wrote: »

what an informed opinion when you know absolutely nothing about me or my circumstances.

does that mean if you own 2 cars you're greedy?
or if you dont give to charity then you're tite?

Well it may not be overly informed but its an opinion all the same, the whole point of forums is to express an opinion.

Granted I know little of your personal circumstances but the balance of probabilities suggest that you are indeed selfish and greedy... in my opinion.

brit1234

ncooper1974 wrote: »

I have 3 BTLs. I dont consider myself greedy. I wont say what I think about you, and others like you, who think the whole house crises is purely to blame on the BTL Landlords.

As I'veSeenTheLight says, there wasn't any BTL (or at least very little) in the last crash. so who did you blame then?
We're just easy targets....

This house price crash is not wholy blamed on buy to let, however you have to realise that buy to let had a significant effect on fueling the bubble. Yes there was no buy to let industry (in todays style) back in the last crash but house prices were far less overvalued.

Buy to let investors have mostly targeted properties that first time buyers would go for pricing them out. That is where the feeling of greed comes from. People would really moan about your wealth generation if it didn't cause so much harm to others.

Dithering_Dad

Just to pause the BTL barnie for a second, but can one of the BTL people have a look at my post about the investment merits of BTL vs bank account and tell me where I went wrong. For the life of me I cannot and have never been able to see the financial advantage of being a BTL landlord.

Where am I going wrong with my calcs?

jmt

geoffky wrote: »

you are a very very greedy person....

Why is she greedy? At least she is doing something to maintain her lifestyle when she retires an therefore will not need to claim any benefits.

The lazy ones are the benefit scroungers who claim everything and don't do anything.

mrstinchcombe

chucky wrote: »

don't worry you'll get used to this on this forum.

the BTL's are hated by the HousePriceCrash Ghetto Members on here.
just take what you can from the more helpful people on here.

and don't forget the feeling and sentiment to house prices isn't what it is like in the outside world - make your own decisions from all the information you can get, not just from here!!!

TBH the views expressed on here are usually very balanced. There are both pro and anti BTLs.

mrstinchcombe

chucky wrote: »

fortunately i don't think so - but that's only my opinion.

Really? There are loads of BTL landlords on this site, granted they've gone a little quiet since prices have started to plummet but there are loads on here.

ncooper1974

mrstinchcombe wrote: »

Granted I know little of your personal circumstances but the balance of probabilities suggest that you are indeed selfish and greedy... in my opinion.

I actually was going to justify myself to you, but thought better of it.
I just hope that when you buy your home you manage to walk thru the front door with that big chip on your shoulder