I don't mean to boast but...

credit_crunch_victim

hope you didn't buy anything in the last 6 months lee

magburner

LandlordLee wrote: »

I have BTL trackers and this cut means i have an extra £1,300 profit every month..

Is anyone else seeing benefits?

!!!!!!!!!!!

LandlordLee

Hi all.

I let in young prof areas on a HMO basis and the yields are over 10%+ on each one.. I have 7 properties and 4 have been bought this year..

If you invest correctly then you will be ok. I always looked for rental rather than capital increases as it is a job for me, and i am in it for the long term. HMO is much harder work than a mormal let, as you have many more tenants to look after, thus the rewards are greater. As i keep my places to a very high standard i have never had a void in 3 years of letting due to very high demand.

Although prices are generally the same here, deposits for BTL mortgages are required to be much higher which makes it difficult to buy. If i didn't buy this year i don't think i would have been able to if it was from today onwards.

R411Y3

well i have £1,301 so nerrrrr ne nerr nerrrr

Peelerfart

Do you perhaps understand , landlordlee, that your OP may have been interpreted as a little errrrr ,insensitive ?

_Andy_

LandlordLee wrote: »

I have BTL trackers and this cut means i have an extra £1,300 profit every month..

Is anyone else seeing benefits?

LL - I think it's great that anyone is benefitting from the base rate drop - I think what's got people's backs up is the "I don't mean to boast..." which comes across to some people as you are.

credit_crunch_victim

you must have somevery expensive properties then or you don't go out much

savemoney

"I don't mean to boast but..."

But you are boasting

Ed_Zep

LandlordLee's been thanked 0 times in 0 posts...

I can't think why.

Old_Git

LandlordLee wrote: »

I have BTL trackers and this cut means i have an extra £1,300 profit every month..

Is anyone else seeing benefits?

if you where so brilliant you would have sold up last year when the market was at its peak .Banked the profit ,waited for prices to fall then bought again .But you didnt ,and you may be paying less for your mortgage but you will have lost out much more in property value .If you are saving £1300 because the rate droped then you are mortgaged up to your neck .