btl's not really dead is it?

ds1980

Ha Ha.

2 of my btl's are on lifetime trackers! .19% above base rate. Keep the money rolling in.

Who cares about hpi when effectively i'm earning £500-£600 a month more than 3 months ago!

ad9898_3

I think BTL is certainly dead on the scale we have had over the last few years, however I have said before it's the 'dinner party amateur' that is likely to goto the wall, there will always be more fianancially astute LL's (like yourself maybe), who will carry on nicely and good luck to you.

It's been the real amateurs who have been proping the chains up over the past few years, which now have all but dissappeared.

abaxas

ad9898 wrote: »

I think BTL is certainly dead on the scale we have had over the last few years, however I have said before it's the 'dinner party amateur' that is likely to goto the wall, there will always be more fianancially astute LL's (like yourself maybe), who will carry on nicely and good luck to you.

It's been the real amateurs who have been proping the chains up over the past few years, which now have all but dissappeared.

I cant really add much worth to your reply, other than to say that (as ever) well run business will survive and ultimatly make money while 'toy' business tends to fail.

Also I fear the loss of many an ego. The armchair blt bridage invested that too.

PasturesNew

Amateur BTL is dead. It was never sustainable, it was kept alive artificially from its own hype and now the scam has been exposed.

Only 10 people wanted to live in a flat - they built 10,000
Only 10 people could only afford more £400/month - the rents they wanted were £550

It's run its course.

There were never enough people to rent the properties bought for BTL at the rents they were wanting.

Yes, I'd LIKE to have lived in a shiny BTL flat overlooking the water, but there's no way I could have afforded the rents those landlords wanted, which is why there are thousands of them empty where I live.

So it's dead.

ds1980

yeh think there would be a few on here that would accuse me of being amateur, far from it. Although still younger than 30 i built mine up with careful consideration and have never ever mew'd on any of them.

Have paid off (capital) in a rising market and have now (for tax purposes also) changed them all to interest only (good job i did it a few months back) to allow more money to be put into our own "home". Once that is paid off (won't be long hopefully!) then ill start repaying the loans on our others. I will never sell them as they are my income in retirement. Like my shares and other investments they will all go to my children (when i have them!). They can do what they like with them. I will never ever ever make a loss on them that is sure apart from (if/when) world war 3 breaks out!

In the meantime i 'm still saving for our wedding!

hethmar

But what if those empty flats are repossessed and resold at a much lower price to new BTLs who can rent them at a lower price?

ds1980

depends what price they are, what mortgage rate is and what rents they can get.


Chances are some of the sums won't add up.

ad44downey

ds1980 wrote: »

Ha Ha.

2 of my btl's are on lifetime trackers! .19% above base rate. Keep the money rolling in.

Who cares about hpi when effectively i'm earning £500-£600 a month more than 3 months ago!

Just wait for hyperinflation to take hold in a few years and for interest rates rocket. BTL slum landlords will be squealing like pigs all over again

carolt

Thought we hadn't seen you for a while.

You do come across as - how do I say this kindly - a bit of a prat? from your OP, though I recall your comments of old being a little less self-congratulatory and one-dimensional.

I suppose it's all about what you want from life, isn't it?

By the time I was your age, I'd paid for my wedding and had my first child.

You had your BTL's.

Know which I'd choose - but then we're all different, aren't we. Some put weddings first, some put BTL's first.

What a lovely world.

PasturesNew

ds1980 wrote: »

Ha Ha.

2 of my btl's are on lifetime trackers! .19% above base rate. Keep the money rolling in.

Who cares about hpi when effectively i'm earning £500-£600 a month more than 3 months ago!

SO http://www.google.co.uk/search?hl=en&q=.015*400000%2F12&meta=

You owe £400-500k?
Great position to be in when we're entering a recession.

Jonbvn

carolt wrote: »

By the time I was your age, I'd paid for my wedding and had my first child.

& all before your 17th birthday:p