The 70% club

Really2

mewbie wrote: »

sadly.. I couldn't.

Oh did you invest. I genuinly am sorry to hear that.
From the inside it was a total farce the valuation of companies that had no real turnover because of theur "future potential was madness"
But saying that advertising agencys made a fortune.

mewbie_2

Really2 wrote: »

Oh did you invest. I genuinly am sorry to hear that.

Thanks for your concern mate. I was lucky - I was 'winning'... then I lost. Net effect zero. No good worrying about what might have been, although it took a while to start sleeping again.

Really2

mewbie wrote: »

Thanks for your concern mate. I was lucky - I was 'winning'... then I lost. Net effect zero. No good worrying about what might have been, although it took a while to start sleeping again.

Onwards and upwards mate.;)

I have worked for 2 companies that have been liquidated while I was still an employee (the dotcom was one but we knew our part was being "brought out".:o

What does not kill you makes you stronger.:beer:
(unless you are superman and kryptonite:D )

IveSeenTheLight

macaque wrote: »

The problem is witless people buying multiple homes to when they have no idea how much to pay or how to manage them.

How often to we hear the phrase 'I'm in for the long term'. This is the default response from clueless people trying to rationalise stupid decisions.

These idiots are responsible for 1/2 million empty homes.

Fortunately, the cleansing fires of the bear market will force these properties back into use. As Warren Buffett put it "when the tide goes out, you find out who is not wearing smimming trunks".

I have 2 BTL's and I'm in it for the long term.
I guess that means I am clueless, witless, the properties are empty and I'm trying to rationalise such a stupid decision I made.

But wait.........

Both my properties have tenants, who are paying the property mortgage down at a rapid repayment rate with only 2 weeks void in the last two years.


Still must have been a stupid decision eh

chucky

IveSeenTheLight wrote: »

I have 2 BTL's and I'm in it for the long term.
I guess that means I am clueless, witless, the properties are empty and I'm trying to rationalise such a stupid decision I made.

But wait.........

Both my properties have tenants, who are paying the property mortgage down at a rapid repayment rate with only 2 weeks void in the last two years.


Still must have been a stupid decision eh

i'm not going to explain anything here Macaque but this doomsday script that you keep on talking about is very amusing. thanks

IveSeenTheLight

chucky wrote: »

i'm not going to explain anything here Macaque but this doomsday script that you keep on talking about is very amusing. thanks

Me thinkgs you have quoted the worng person

sarah_elton

Kenny4315 wrote: »

:rotfl: It prefer to start at the mile high club ... but I hate flying :rotfl:

Train toilets - metre high club.

chucky

IveSeenTheLight wrote: »

Me thinkgs you have quoted the worng person

i was going to give Macaque my BTL details but couldn't be bothered in the end.

i'll just wait for his next copy and paste quote.

macaque_2

IveSeenTheLight wrote: »

I have 2 BTL's and I'm in it for the long term.
I guess that means I am clueless, witless, the properties are empty and I'm trying to rationalise such a stupid decision I made.

But wait.........

Both my properties have tenants, who are paying the property mortgage down at a rapid repayment rate with only 2 weeks void in the last two years.

Still must have been a stupid decision eh

What I said was "The problem is witless people buying multiple homes when they have no idea how much to pay or how to manage them." That is not the same thing as saying that everyone who buys multiple homes is witless. However, you saw enough of yourself in the desciption to go on the defensive. For the most part, people who rely on the "I'm in it for the long term" rationale for making investment decisions would do better opting for premium bonds. You are sitting on leveraged assets which are deflating at a rate of 20% a year.

dopester

IveSeenTheLight wrote: »

I have 2 BTL's and I'm in it for the long term.
I guess that means I am clueless, witless, the properties are empty and I'm trying to rationalise such a stupid decision I made.

But wait.........

Both my properties have tenants, who are paying the property mortgage down at a rapid repayment rate with only 2 weeks void in the last two years.


Still must have been a stupid decision eh

Didn't you only buy the first one a few years back? And then your second BTL at the near peak? OK not the peak to the very day... but in 2007... allowing you to get some late on HPI in Aberdeen, but essentially the peak when you consider just how much house prices are going to crash.

So many people, mitchaa included, dismiss unemployment risks, and pay-cut risks even more.... claiming they can walk into another job at better pay... yet time and again these days, as businesses feel the downturn of their profits, the education of reality is coming to so many people who can only understand good times.

http://www.dailymail.co.uk/femail/article-1087204/A-middle-class-recession-One-moment-youre-planning-holiday-youre-abyss-.html