Misery of the BTLers and property developers...

FungusFighter

Dan: wrote: »

At least I have a job mate.

I'd never have guessed, your on here 24/7 :j

I'm more a weekend sort of guy, sez something :rotfl:

Dan:_4

mewbie wrote: »

I have no problem with that. It's the multiple property 'owning' peeps who have actually mortgaged and remortgaged their own family home in order to gamble on a rising property market, that I have difficulty with. "I'm thinking of my children" they say, while risking everything, including the family home.

I understand that.

However it's not always fair to paint every BTLer with the same brush. A good friend of mine has a BTL instead of a pension. He did not remortgage the family home to finance it.

chewmylegoff

FungusFighter wrote: »

And I'm winning mate:beer:

the only thing you're winning is the competition to see who can post the most sh!tty smilies.

FungusFighter

chewmylegoff wrote: »

the only thing you're winning is the competition to see who can post the most sh!tty smilies.

Mate, don't knock it, I pride myself on the use of the inappropriate smiley:beer:

mewbie_2

Dan: wrote: »

However it's not always fair to paint every BTLer with the same brush.

No. Fun though.

FungusFighter

Dan: wrote: »

I understand that.

However it's not always fair to paint every BTLer with the same brush. A good friend of mine has a BTL instead of a pension. He did not remortgage the family home to finance it.

Fair point mate:beer:

Gotta go, got mass int he morning :AGood game though, same time next week?:T

Dan:_4

FungusFighter wrote: »

Fair point mate:beer:

Gotta go, got mass int he morning :AGood game though, same time next week?:T

Looking forward to it :beer:

chucky

Graham_Devon wrote: »

Yes, but you are spending a lot of money servicing those properties, especially when you do not have a tennant. It's not all continual profit. You go four months without a tennant, at £500 per month, your £2000 down.

the maximum void i've ever had is 2 weeks on one of my properties and that was in Feb this year - during this pseudo depression that we're supposed to be in, that's pretty good.

i always factor in 6-weeks voids when calculating yield

running costs are important - again these are all factored in. not all properties need repairs every year, but you do get the unusual surprise. the smart move is to repair and restore the properties during low interest rates (like now) to counter any 'extra' profit you could pay tax for due to low interest repayments.

Dan:_4

Graham_Devon wrote: »

Yes, but you are spending a lot of money servicing those properties, especially when you do not have a tennant. It's not all continual profit. You go four months without a tennant, at £500 per month, your £2000 down.

If the mortgage payments were £200 per month then I would be down £800 over the four month period, not 2 grand. When I get a tennant, It would only take 2.5 months to make up the loss before I start making profit. Thst's the beauty of low interest rates at the moment.

Graham_Devon

http://www.ft.com/cms/s/2/a98c87f0-1575-11de-b9a9-0000779fd2ac.html

I don't think we can call the above a politically biased, or with an agenda.

It's pretty stark out there, for any BTL landlord, no matter how much they ramp up the economy and tell us "I have more money than you sir".