Will You Be Buying Or Selling In The Next 12 Months?

nmiah786

al_yrpal wrote:

I mention hassle factor because I have watched pals and relations who have BTL's enduring continuing hassle. ie boiler breaks down on v cold night and you are off on skiing holiday next day. Solution=get emergency plumber and pay twice as much for boiler/repair that you would otherwise. Tenants boyfriend walks out, after tenant breaks leg and loses job unable to pay rent. Tenant justy b***'s off and disappears leaving property a stinking mess and tenantless.
Other money investments don't have this hassle, you don't usually make them with borrowed money and they are far less hassle!
- do you get the idea?

Al_yrpal

What can I say, I'm speechless! You really are very funny, as a matter of fact you are really very very funny!!! :rotfl:

There is not a business in this world that is "hassle" free, I have yet to meet someone to tell me otherwise.

Oh by the way, your point of investing with borrowed money is a different argument altogether!!!

:wave:

Kenny4315

kinster wrote:

works for me, they have a 24/7 maintenance team/number that can be used... or I can use any other many maintenance services out there.

Don't tell me you do it all yourself? LOL

I have used letting agents when I was involved in BTL and I have had hassle, when tenants have simply walked, and disappeared, I was fairly lucky in that the bond covered outstanding items, but this was not due to any real great conduct by the agent. If you have BTL and a tenant walks/disappears you will have the same issue, as the agents as as powerless to do anything as someone who does it themselves.

You are simply talking about maintenance issues alone, these are relatively simple compared to tenants walking or even worse just hanging around after the end of tenancy, these both take court action to resolve not agents.

al_yrpal

I am not posting this stuff for laughs, it actually happened to friends. I have seen wide eyed late comers optimistic ventures into BTL disolve into pure farce as they suddenly realised that its not so easy, and there is not as much profit as putting the cash in the Halifax, never mind the hassle.

As I said before, BTL made sense from 96 to 2002 or so, but all the clever money has now collected all the nice rent from a market when there were not many properties available, and already sold out at a massive profit, placing the proceeds (less the CGT)into Funds in Latin America, BRIC (Brazil, Russia, India, China), and getting a whopping payback. The latest is Japan with HUGE rises in the last few months. Thats not to say that some people, who bought years ago are still making good profits from BTL.

BTL is so 'last year'.

(BTW, now retired after 15 years running my own business - well run businesses DO NOT suffer hassle, hassle=inexperience)

Here's a laugh http://prissypatriot.blogspot.com/2006/01/new-year-funny-from-you-tube.html

nmiah786

Interesting results so far...

It seems a large proportion of people will not be buying within the next 12 months or they have bought already. However, its seems the market is still in short supply of houses sellers.

Hows that going to work? From the other poll 54% of people expect house price rises however the word on the grapevine is that price crash/no rise is imminent/present. BUT THERE IS NO SHORTAGE OF BUYERS WHO WILL BE BUYING WITHIN THE NEXT TWELVE MONTHS!!!

kinster_2

Kenny4315 wrote:

I have used letting agents when I was involved in BTL and I have had hassle, when tenants have simply walked, and disappeared, I was fairly lucky in that the bond covered outstanding items, but this was not due to any real great conduct by the agent. If you have BTL and a tenant walks/disappears you will have the same issue, as the agents as as powerless to do anything as someone who does it themselves.

You are simply talking about maintenance issues alone, these are relatively simple compared to tenants walking or even worse just hanging around after the end of tenancy, these both take court action to resolve not agents.

jesus christ I was merely answering someones question about the maintenance of the property and it's not a hassle to me. Where the hell did I say that the letting agent has the right? I just said that I use them as a service.

Please re-read before you go on and on... No need to go on about your problems when others can handle the situation

Doozergirl

I maybe making a sweeping generalisation, but my experience of this board always finds those that repeatedly fail to read posts properly (and fail to apologise for doing so) are those that have a very strong opinion. I doubt they'd find much to argue about otherwise.

Kenny4315

kinster wrote:

works for me, they have a 24/7 maintenance team/number that can be used... or I can use any other many maintenance services out there.

Don't tell me you do it all yourself? LOL

Maybe you should re-read your own mail again ? I was only illustrating that when a major problem occurs letting agents are not always there to sort it, for example the issues I have highlighted.

kinster_2

Kenny4315 wrote:

Maybe you should re-read your own mail again ? I was only illustrating that when a major problem occurs letting agents are not always there to sort it, for example the issues I have highlighted.

like I said, I use maintenance services and not myself to fix issues with boilers etc. Letting Agents were the ones that recommended the service to me. They on the other hand just find me a tenant and chase things up, nothing more, nothing less. Not my fault if you think they should do more.

Kenny4315

al_yrpal made some interesting and valid points about letting out property which were summarily dismissed by lol letting agents can sort all that. I made some points of a similar nature which got the same lol letting agents sort that ho ho. I am not questioning that letting agents can take care of many maintenance issues, etc, but the big ones that cause serious problems such as those pointed out by al_yrpal and myself, are not dealt with very well by agents, and are a real hassle factor of BTL. Sitting tenants, awol tenants, vandalising tenants, etc.

I have seen some prospective development projects that have been let that have been ripped into pieces, with thousands of pounds worth of damage, one house I considered developing that had been a BTL, I estimated at £50k worth of damage, they had absolutely ripped the place to pieces, electrics, plumbing, fireplaces, gas, kitchen, bathroom, etc, everything completely and utterly wrecked. I doubt if the bond covered that !! and getting the cash back unlikely, costly and time consuming.

kinster_2

Kenny4315 wrote:

al_yrpal made some interesting and valid points about letting out property which were summarily dismissed by lol letting agents can sort all that. I made some points of a similar nature which got the same lol letting agents sort that ho ho. I am not questioning that letting agents can take care of many maintenance issues, etc, but the big ones that cause serious problems such as those pointed out by al_yrpal and myself, are not dealt with very well by agents, and are a real hassle factor of BTL. Sitting tenants, awol tenants, vandalising tenants, etc.

I have seen some prospective development projects that have been let that have been ripped into pieces, with thousands of pounds worth of damage, one house I considered developing that had been a BTL, I estimated at £50k worth of damage, they had absolutely ripped the place to pieces, electrics, plumbing, fireplaces, gas, kitchen, bathroom, etc, everything completely and utterly wrecked. I doubt if the bond covered that !! and getting the cash back unlikely, costly and time consuming.

oh dear, I feel for you. Maybe you targetted the wrong market and need to learn from that!

It's like when I started my import businesses, yes I knew there was going to be a lot of hassle, but I knew at the end of the day the rewards would be good.