Terrible suffering in BTL land reported daily...

Kenny4315

I'm in denial ..... I'lll go and say 5 hail mary's :A

I'm looking at buying some BTL's once I can see the bottom clearer, another 6 months unless a real bargain comes up, by then the dinner party muppets have been removed, and FTB's in good positions will get itchy feet.

Not many anti-BTL's believe it when I say I very happy to have a 35% correction, because from there I can see strong upward movement from this level of drop, and I'll hope to catch the wave at the right time. I don't mind to much if my asset values go down because there going nowhere near my original purchase prices, and also I sold at the peak.

From some of the drops talked about I can never see a correction, like the 57% drop suggestion, means it would be goodnight Vienna, the moneys spent, the last person to get on the ferry turn the lights off.

FungusFighter

Kenny4315 wrote: »

I'm in denial ..... I'lll go and say 5 hail mary's :A

I'm looking at buying some BTL's once I can see the bottom clearer, another 6 months unless a real bargain comes up, by then the dinner party muppets have been removed, and FTB's in good positions will get itchy feet.

Not many anti-BTL's believe it when I say I very happy to have a 35% correction, because from there I can see strong upward movement from this level of drop, and I'll hope to catch the wave at the right time. I don't mind to much if my asset values go down because there going nowhere near my original purchase prices, and also I sold at the peak.

From some of the drops talked about I can never see a correction, like the 57% drop suggestion, means it would be goodnight Vienna, the moneys spent, the last person to get on the ferry turn the lights off.

Only one thing to say - why?
Why be a landlord with all the [EMAIL="!!!!"]!!!![/EMAIL] that goes with it for a few extra quid a month, why risk it all when one dodgy tenant has your balls in avice and can wrench em off anytime by refusing to pay the rent or trashing the place and why oh why buy any more of em?
Your mental - get a cleaning job, you'll be better off:D

Kenny4315

FungusFighter wrote: »

Only one thing to say - why?
Why be a landlord with all the !!!! that goes with it for a few extra quid a month, why risk it all when one dodgy tenant has your balls in avice and can wrench em off anytime by refusing to pay the rent or trashing the place and why oh why buy any more of em?
Your mental - get a cleaning job, you'll be better off:D

1. I don't have dodgy tenants and never will, I'd rather get less money in rent and have nice folk that I know I can trust, than high payers who cause me grief, I deal with everything personally, and don't use an agent.
2. My flats are 20 yards from my main house so I can be there in 1 minute, as happened today when the fire alarm developed a sounder problem, I could hear it from my own front room.
3. I have had a very good return since acquiring my flats, so it allows me to do what I wish
4. My long term plan for my flats is to convert back to a single 3 storey victorian town house maybe around the 2020 - 2025 point. These type of places offer a high premium in my area.
5. I've made more in BTL (and developing) than as a qualified accountant and SAP FI-CO consultant, so cleaning is out of the question.

FungusFighter

Kenny4315 wrote: »

1. I don't have dodgy tenants and never will, I'd rather get less money in rent and have nice folk that I know I can trust, than high payers who cause me grief, I deal with everything personally, and don't use an agent.
2. My flats are 20 yards from my main house so I can be there in 1 minute, as happened today when the fire alarm developed a sounder problem, I could hear it from my own front room.
3. I have had a very good return since acquiring my flats, so it allows me to do what I wish
4. My long term plan for my flats is to convert back to a single 3 storey victorian town house maybe around the 2020 - 2025 point. These type of places offer a high premium in my area.
5. I've made more in BTL (and developing) than as a qualified accountant and SAP FI-CO consultant, so cleaning is out of the question.

1) If you manage them yourself then you must be doing a fair bit of cleaning anyway:rotfl:
2) That just sounds like hell:rotfl:
3) And you think your untouchable?:rotfl:
4) No one will want em by then mate, not at a price you can afford to sell at:rotfl:
5) You ain't gonna be making anything from developing for a while so I wouldn't give up the day job:rotfl:
Who wants to navvy for a living anyway?:T (Or be a landlord:rotfl: )

Mate of mine, he does a bit of developing, works night and day turning these places around, for what he gets in the end per hour after fees and taxes he's be better of doing a bit of fruit picking or bar work. What a tit:rotfl:

Kenny4315

FungusFighter wrote: »

1) 5) You ain't gonna be making anything from developing for a while so I wouldn't give up the day job:rotfl:

I did January 2003 .....:D

Never worked for anyone since and never will again.

FungusFighter

Kenny4315 wrote: »

I did January 2003 .....:D

Never worked for anyone since and never will again.

Mate, I just hope you've kept yer skills up:beer:

Kenny4315

FungusFighter wrote: »

1) Mate of mine, he does a bit of developing, works night and day turning these places around, for what he gets in the end per hour after fees and taxes he's be better of doing a bit of fruit picking or bar work. What a tit:rotfl:

All I can say is your mate can't be very good ..... at developing .... :rolleyes:

I'll happily come and pick fruit in your garden if you pay me the rate on average per hour than I've made in the last 2 years .... :rotfl: Or would that leave you a bit short on the rent... :rotfl:About a grand a day should just about cover it.... for cash.

treliac

FungusFighter wrote: »

Why be a landlord with all the !!!! that goes with it for a few extra quid a month, why risk it all when one dodgy tenant has your balls in avice and can wrench em off anytime by refusing to pay the rent or trashing the place and why oh why buy any more of em?

Better to follow your example and become an undertaker, eh? The client group never plays you up.

matbe

treliac wrote: »

Better to follow your example and become an undertaker, eh? The client group never plays you up.

And its about as "recession proof" a job as you can get.

In fact I bet more people die during a recession.

FungusFighter

Kenny4315 wrote: »

All I can say is your mate can't be very good ..... at developing .... :rolleyes:

I'll happily come and pick fruit in your garden if you pay me the rate on average per hour than I've made in the last 2 years .... :rotfl: Or would that leave you a bit short on the rent... :rotfl:About a grand a day should just about cover it.... for cash.

Mate, you navvy an clean for a living, your on call 24/7 to a bunch of scuzzy renters who also live within shoutin distance and you have to exaggerate yer earnings on a forum to justify it. Personally I don't give a b0ll0ck what you earn an hour, your hardly living the dream are yer?:rotfl: :rotfl: