btl's not really dead is it?

katew87

chucky wrote: »

that's because he's a BTL owner - they're not liked around these parts.
liked is an understatement too

Whats he done? sorry with all the Q's Im fairly new to this forum.

So because I have another house am I disliked round here for that? explain more..

Conrad

DS

You say you make £600 per month.

But have you considered the amount of interest per month you would be earning from the capital you introduced had it been left in a Bank account?

A lot of my clients are amateur investors and are very unhappy they have seen thier values fall off a cliff, especially those in new build flats or town houses.

Your income profit is worth what after tax, £360 pm? Did you factor in the fact you longer earn any interest on the capital you introduced?

Conrad

katew87 wrote: »

Whats he done? sorry with all the Q's Im fairly new to this forum.

So because I have another house am I disliked round here for that? explain more..

Most 'investors' are seen as amateurs / muppets as they never did get the basic business principles underlying buy to let.

As an example the amateurs say things like "its me pension, its long term in'it"

Such a statement reveals someone that has not thought it through properly.

Microstar_2

ds1980

Your posts are full of hubris. I take it you were born in 1980? I already owned one house in 1980. Now I own quite a few (all paid for) and operate a (reasonably) successful business in the retail motor trade. I was 'buying to let' before the term was in common usage. One thing I've learnt is that lots of unpredictable things happen and luck is a big factor - and although I've avoided making big mistakes I've basically been fortunate..
You probably ended up on a tracker more by luck than judgement (they were not necessarily the best deals a year or two back).
Life and business is influenced by many random events - often those who claim to be successful and more astute than their fellow man have simply had a bit of good luck.
Lots of things may happen to you in the coming years, but whatever happens don't start to believe that you are a lot smarter or cleverer or have more insight than others, and don't get greedy. Hubris is a very dangerous thing in business.

chucky

Conrad wrote: »

Most 'investors' are seen as amateurs / muppets as they never did get the basic business principles underlying buy to let.

As an example the amateurs say things like "its me pension, its long term in'it"

Such a statement reveals someone that has not thought it through properly.

or you'll be told that you're taking away a home from someone by fueling house price increases and over-charging your tenant rent.

katew87

Conrad wrote: »

Most 'investors' are seen as amateurs / muppets as they never did get the basic business principles underlying buy to let.

As an example the amateurs say things like "its me pension, its long term in'it"

Such a statement reveals someone that has not thought it through properly.

Im not looking to buy another 5 or 10 or even 1 more property. Im lucky to have a good job which funded another deposit for a second house - I cant really see this as a problem. Im not boasting how much I earn because I dont it pays for itself and thats about it.

I grew up watching my mum struggle and I suppose it made me determined to be successful or give it a good go anyway.

ds1980

Conrad wrote: »

DS

You say you make £600 per month.

But have you considered the amount of interest per month you would be earning from the capital you introduced had it been left in a Bank account?

A lot of my clients are amateur investors and are very unhappy they have seen thier values fall off a cliff, especially those in new build flats or town houses.

Your income profit is worth what after tax, £360 pm? Did you factor in the fact you longer earn any interest on the capital you introduced?

When i bought mine i only put a maximum of 5% down and mostly less. they were all bought on residentials. Luckily they all rose in value. they were never in negative rental yields so we ahve mor etahn got the monies back for stamp if we paid any, solicitors etc.

i make around £600 extra from the interest rate cuts yesterday. i make a little more than £600 a month on my btl's.all monies go into my offset account which offsets my PPR.

I have never bought a new build never would nor a town house.

i am not amatuer in btl nor investing. My money always works its most efficiently. I'm not like most clients which is why i don't have a financial advisor they are of no use to me. A mortage advisor....yes hence the fact i was able to do what i did without leveraging nor spending much.

ps im not ahigher rate tax payer ps i don't have an accountant either.

Conrad

Microstar - I respect the fact you say you own a few.
Im pretty sceptical of those that own 20 or 50. In my long experience they are just chancers, not at all thoughtful or clever. You simply dont get to own 10s of properties outright unless you have taken big borrowing risks, or inherited a fortune.

Im convinced the way to go is slow and stead, and not with MEW

ds1980

Microstar wrote: »

ds1980

Your posts are full of hubris. I take it you were born in 1980? I already owned one house in 1980. Now I own quite a few (all paid for) and operate a (reasonably) successful business in the retail motor trade. I was 'buying to let' before the term was in common usage. One thing I've learnt is that lots of unpredictable things happen and luck is a big factor - and although I've avoided making big mistakes I've basically been fortunate..
You probably ended up on a tracker more by luck than judgement (they were not necessarily the best deals a year or two back).
Life and business is influenced by many random events - often those who claim to be successful and more astute than their fellow man have simply had a bit of good luck.
Lots of things may happen to you in the coming years, but whatever happens don't start to believe that you are a lot smarter or cleverer or have more insight than others, and don't get greedy. Hubris is a very dangerous thing in business.

at last someone that seems to start making sense. I have never suggested that 90% of my fortune is due to luck. I must be mor elucky than others you could say?

Inmy business i need to have hubris but i understand what your saying, my parents taught me to keep my feet on the ground and i do. I could go out and buy an m5 today if i want but i don't i have a car worth less than some of the art i own. Im loved and hated by lots of people but it makes no difference to me. My family will remain friends come and go. Business is business and enjoy my life very much. I would change nothing. By the time i am your age i certainly won't be working.

TITEASCRAMP

ds

What difference to your income from rentals be if the interest rate was to go up to say 9% ?