Why do people think landlords are greedy

Captain_Mainwaring_2

dopester wrote: »

It is this kind of thing why we hate you.

Also, even ISTL was still saying last month how he loves his tenants paying off his house for him. That one really wound me up over the last few years.

Anyway - prices are crashing now and we're in to a serious economic slowdown with unemployment and pay cuts coming - so those land "lords" who've over-extended their debt positions can get what is coming to them.

What is he supposed to do, rent it out for nothing? if he has done his sums, as I have then he should be enjoying a nice return. He will of course have saved a substantial wad of money, ready to pay off that mortgage. I left my money in the bank, because of greedy first time buyers who the government wouldn't expose to "proper" interest rates, I got a better return putting money on deposit, rather than paying off the mortgage.

Captain_Mainwaring_2

dopester wrote: »

Fine. If you've not over-extended your debt by MEW-ing on and on for more properties on margin, enjoy the profits you've made.

The greedy however are a different story.

Factor this in to your business plan.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Well then kindly just bleat on about stupid/greedy BTL'ers. Some of us have done this before and learnt a bit of simple maths at school.

dopester

Captain_Mainwaring wrote: »

What is he supposed to do, rent it out for nothing?

No; but on one hand many landlords like to big-up how they are only providing a service and how socially responsible they are for it - but are all too quick to look down on tenants who are priced out and mock them... "keep paying the mortgage off for me fool", or worse and treat them like rubbish or an underclass.

DawnW

dopester wrote: »

I'm not really bothered about landlords any more.

So many of them have larged it up about how great and successful they are, chin up in the air, in the easy credit boom...

... and all the BTL brigade who thought the boom could never end, and MEW-ed it up, over and over in to the boom, buying ever more properties, are being, and will continue to be, taken down by the property and economic downturn.

I've just read about another landlord it happening to on SP. Wipe out !

The ultimate justice. Landlords who were oh-so-intelligent and successful, losing all their BTLs, their own homes, and having to rent themselves. Love it.

but where will they, and presumably everybody else who wishes to / has to rent, find anywhere to rent if all the LLs are going bust??

neverdespairgirl

Captain_Mainwaring wrote: »

How?
You would end up being too tense.

Now you are just lurking with intent.

dopester

DawnW wrote: »

but where will they, and presumably everybody else who wishes to / has to rent, find anywhere to rent if all the LLs are going bust??

Another landlordy delusion.

Landlords aren't indispensable. You're not like surgeons, doctors, or accountants or solicitors or nuclear-physicists who've had to study for years to get their qualifications to practice, and in order to gain entry to their professions.

It does not take a genius to run a BTL.

Haven't you seen any news-stories of some recent repossessions? Like that guy forcibly pulled out of his home by 2 meat-head bailiffs who had come to repossess, with police presence there to monitor?

Your creditors can easily replace you if/when you can't pay your debts. They either shunt the properties to auction, and get whatever the market pays out - or use other mechanisms to manage the property.

Like signing a bulk of them to be run, managed and let for a monthly fee by Meathead Residential Management Ltd - and other similar management firms around the country.

BTL landlords indispensable rofl. :rotfl:

Please sirs... I provide an invaluable service to people with my 5+ BTLs. I can't be repossessed because where will they go?

Captain_Mainwaring_2

Actually it DOES take a good deal of sense to make a good living out of property and BTL, that's why so many think it is easy and fail miserably.

I didn't see the article you refered to about "meatheaded bailiffs" and police for a repo.

Having done some work for a couple of county court bailiffs, they both said that at repo time, they had ultimate discretion whether to evict or not, I recall one f them mentioning that they had a statutory period in which to carry out the repo, but inside this period, particularly if there were special circumstances, they could leave.

I'd suggest that police and knuckleheads are only required if there is going to be trouble.

dopester

Captain_Mainwaring wrote: »

I didn't see the article you refered to about "meatheaded bailiffs" and police for a repo.

OK I didn't deny it takes common sense, and continuous good landlord management planning ability - agreed there.

I think he may have exaggerated his injury, and handy to have a person videoing the scene.

The pictures show Paul Eyre's throat being grabbed by the court officer before his hand is allegedly twisted round violently.
He had tried to stop the men entering the house he has lived in for 20 years after he fell behind with his mortgage payments.

But, in a sickening example of the intensifying credit crunch, the bailiff apparently turned violent and dragged him out of the doorway.



The bailiff, who was a big guy, said 'we're coming in' and tried to force his way past me.

"There were three police officers there but they just turned away.

"The bailiff grabbed my hand and twisted it one way, twisting my fingers the other.

"I screamed and hit the floor and he dragged me out of the house and stepped over me to get in.

http://www.mirror.co.uk/news/top-stories/2008/08/18/man-s-arm-broken-as-bailiffs-seize-his-home-115875-20702215/

skap7309

going2die_rich wrote: »

Most of them are just first time buyers who are jealous at the BTL Landlords being able to afford things they can't.

I wouldn't worry about it, as FTB's failures in life are hardly your problem.

Its just a shame we have reached a point that because someone can't afford something they blame someone else from being able to afford it and as a result increase the price of the item.

Just think of how rich this country is and how many poor nations dont get the resources they need because our country outbids them! I dont see people in this country having a problem with that.

Sorry, but what a complete idiot.

Do you remember trying to get on the housing ladder - i assume you are? People cannot find 10x salary out of the blue to afford a shoebox flat. I am a FTB and the word failure is very offending. I own my own business and am raking in a very large wage at the moment. I have been saving for three years and have made massive sacrifices to be able to get a deposit together. I can afford to buy now but it would be a very stupid idea to do that now - for possibly the next 18 months. I have nothing against landlords and BTL but i DO believe it has contributed to the silly prices we see today.

Ian_Griffiths_Halifax

Could somebody explain what MEWing is? I've seen it a few times on here, but nobody has every explained.