Misery of the BTLers and property developers...

StevieJ

FungusFighter wrote: »

Babe, your psychic;)
Kniow what else I'm thinkin? ;)

I always thought mewbie was a bloke

Topov_3

FungusFighter wrote: »

[to mewbie, the bloke] I'd like to cosy up to you in a lifeboat doll :cool:

FungusFighter wrote: »

You one of those shirtlifters mate?:eek:
Nothing aaginst em mind but you can't be to careful these days :eek::eek:

It's always the one who deny the loudest that are the ones with the secret desires....

I can see it now, Fungus Fighter the self proclaimed Alpha male, chasing poor old Beta male Mewbie around the lifeboat. Run mewbie run, your bum depends upon it! :eek:

chucky

stevetodd wrote: »

I am a LL and I agree with you, my mortgages have become very silly indeed at only 1.5%, thanks for your support :beer: and cheers back mate.

on one property it's £1,200 a month profit - you got to love it.

capital depreciation? not interested until i have to sell it - 20 years time
rates go up? i have cash i can shift to repay capital and reduce repayments.

mewbie_2

Topov wrote: »

chasing poor old Beta male Mewbie around the lifeboat. Run mewbie run, your bum depends upon it! :eek:

Not quite the image I had hoped for after 2,000 posts.

stevetodd

chucky wrote: »

on one property it's £1,200 a month profit - you got to love it.

capital depreciation? not interested until i have to sell it - 20 years time
rates go up? i have cash i can shift to repay capital and reduce repayments.

Also chucky I have learnedsomething important from this recession and that's to make sure that I have an exit/retirement plan and sell while prices are still going up (probably about 12-15 years from now)

themanbearpig

A lot of so called "landlords", highly geared business models were based on property prices increasing. Many didn't even manage to break even, but realied on equity appriciation to compensate for their flawed model.

Now they must take into account the average house has fallen £20,000 a year, so they are completely screwed, as they can't just sell and recover their short-comings.
The current low interest rates are allowing their business models to work, but for how long?
You have got to be completely insane to believe that interest rates will remain at 0.5%, and house prices will return to peak of the bubble. Rental incomes are also falling.

So what is going to happen to these individuals when interest rates shoot up again, and prices continue to fall to normal levels?
All the want-to-be landlords will be forced to sell, and will be stuck with the negative equity.

All those defending landlords may be in the position of an individual i've outlined above. But sitting on the internets trying to convince others that you've got it right isn't going to save you from your bad decisions.
But if you have property which you bought before 2001, you will probably be OK.

JonnyBravo

FungusFighter wrote: »

Nah, got me own business, 2 shops knocked into one, 4 flats above, emply 8 people and no debts to speak of :T

Oh I see.... flats.... suddenly it all becomes clear.... you wish your BTL's were houses as you cant find people prepared to live in your [STRIKE]shoeboxes[/STRIKE] flats.

FungusFighter wrote: »

Just can't stand boring tw@ts

Nor me, and you with your hackneyed "I'm a real lad" chat happen to be the biggest one on this thread.

IMHO.

Kenny4315

Just got my latest payment adjustment reminder on my BTL, it's now a WHOPPING £505 per month, things are looking critical .... I just don't know what to do .... I have been out mewing like nobodys business and still these BAR STWARDS keep expecting me to pay less and thus spend more. Couple of weeks ago new 50" panasonic plasma 1080p 100hz, then a laptop acer with a nice 512mb graphics card, tons of video games and dvd's but still I can't seem to spend the additional profit on my BTL's. Rental income £1800 pm costs now less than £600...... IT'S REALLY DREADFUL .... and I FEEL AWFUL ABOUT IT, when the country is in such a mess. .......... LOL ..... :rotfl:

Kenny4315

If I need to sell my BTL then I'll really be in the Sh*te I just simply do not know what the hell I'd spend that £270k that I'd release on. Maybe have to go an order 1/2 a dozen Jaguar XK's, may get a discount ??? :rolleyes:

Dan:_4

Stop is kenny, your making a few very jealous!