Buy to let fever?

Chris_the_Greek

I been chasing BTL's for years but I have finally accepted that my personal portfolio just cannot grow, there is just nothing worth buying unless you get onto large buildings where 10% returns pa are still happening. Your only hope is Uni Towns. I bought a few in Hatfield and they are doing ok, at the very worst they pay for the mortgage.

ReportInvestor

lynzpower wrote:

I remember one of K&P's recently where they were practically railroading a couple into buying a house to let to students in hull, when It was clear to me that the returns on it were not worth it (marginal per month as I recall) and more hassle to the potential buyers than they would ever get back, they looked exhausted from just thinking about it.

I remember thinking at the time, that if K&P were financial advisers, they'd be fined and disbarred, they were making so many questionable assumptions & hadn't probed the couple enough for their situation. My recollection of that programme was that the couple sensibly declined the package on offer?

Should K&P have to declare their extent and location of their own b-t-let portfolios so that we can decide whether they are a lot of hot air, blatant rampers or just very smart?

Deemy

You want to see something funny

Download this vid, then just past half way through Kirsty comes on and has a fit about people trying to talk the housing market down on ITV news

http://www.housepricecrash.co.uk/media/LondonTonight-1.wmv

I think the pair believe thier BS and are loaded up to the eyeballs in BTL debt !

Watch the video and don't tell me that she is not a nutter ! This is what happens when she does not have a script infront of her to follow ! What a nutter ! I bet her bald boyfriend is just as mad !

Doing all these property shows must have gone to her head, she's starting to think she's a bloomin house !

P.S.
The vids a bit sticky in the middle, just click past were it sticks to get it going again

Tassotti

I say Sell to Rent now!!!

More tenants for me, more demand for rental properties, rental prices will increase and these STRs will never get back on the ladder.

The website mentioned has been going since about 2004, and everyone who STRd have lost money due to this ,believing a crash will happen, and guess what, prices still rising.

They should cut their losses and get back on the ladder now before its too late. :mad:

ReportInvestor

Deemy wrote:

You want to see something funny

Download this vid, then just past half way through Kirsty comes on and has a fit about people trying to talk the housing market down on ITV news

http://www.housepricecrash.co.uk/media/LondonTonight-1.wmv

I think the pair believe thier BS and are loaded up to the eyeballs in BTL debt !

:rotfl:

I saw this extraordinary performance from our "property expert" as well. Now I don't watch much TV. So does this apparent fixation mean I am getting the hots for Kirsty :eek: ?

Dora_the_Explorer_5

I remember thinking at the time, that if K&P were financial advisers, they'd be fined and disbarred, they were making so many questionable assumptions & hadn't probed the couple enough for their situation. My recollection of that programme was that the couple sensibly declined the package on offer?

My recollection of the couple was that they seemed totally gormless and doing a version of 'It's a nice Sunday afternoon, lets go and view houses to have a good nose around and be entertained'

meanmachine_2

Dan29 wrote:

Rubbish. ...

Oh yes, I see where you're coming from with your reasoned, logical arguments. Bravo sir.

Now go buy some stock options from that shoe shine boy round the corner. :rolleyes:

jonder

BTL does work if you buy the right house in the right place at the right price at the right time and get the right tenants. I started nearly ten years ago when they first came out and am now able to live off the rental income.

Most of it was luck though!

lynzpower

ReportInvestor wrote:

I remember thinking at the time, that if K&P were financial advisers, they'd be fined and disbarred, they were making so many questionable assumptions & hadn't probed the couple enough for their situation. My recollection of that programme was that the couple sensibly declined the package on offer?

Should K&P have to declare their extent and location of their own b-t-let portfolios so that we can decide whether they are a lot of hot air, blatant rampers or just very smart?

Completely correct, yes they did refuse it right at the end of the show, with Phil looking a bit incredulous, but resigned with the look of " you can take a horse to water...."

meanmachine_2

jonder wrote:

BTL does work if you buy the right house in the right place at the right price at the right time and get the right tenants. I started nearly ten years ago when they first came out and am now able to live off the rental income.

Most of it was luck though!

Well quite.

That's why most pros who know what they're doing won't buy at today's prices.

It's also why VIs like Kirsty and Phil need to keep banging the drum and recruit ever more people into the game - even though the sums rarely add up these days.

A friend of mine has an "investment" - a tiny one bedder in Brighton. Even though she bought a couple of years ago, the mortgage is still more than the rent.

So how on earth can the Johnny Come Latelys make it work? Except, any truthful appraisal of the market by KnP wouldn't be quite as "entertaining", would it?