The Market Astounds me!

Ems*Honie

mystic_trev wrote:

Oh how true - but I think it's more likely to be the “Johnny come lately” BTL’er who’ll scream foul!

I had the good fortune to be able to retire (ten years ago) at the age of 40. To provide sufficient funds for my retirement I invested in a broad range of different things including two “Residential Property Investments” or BTL as it’s now called! I invested for Income and cap app – assuming property would double in the 20 years I would hold said properties. Now, ten years latter, I find one is worth nearly four times what I paid for it and the other nearly three times. The initial yields were just over 10% which makes them around 3% if I’d purchased them now! Although I’d dearly love to keep them, I’ve now decided to flog them when the tenancies come up for renewal and pay the CGT.Now every Tom,!!!!!! and bloody Harry seems to have decided to enter the BTL market. Not for Income, but for a misconceived idea that House prices can only go up!!! You can see some of these “numpties” who post on this forum. Many are MEW’d up to their eyeballs and have bought these “Investments” using their homes as security. When the crash comes (as it eventually will) not only will these people lose their “Investment property” but also their homes! I can’t wait for the “It’s all gone wrong so somebody else must be to blame” Syndrome to start. They’ll all be rushing off to Solicitors to sue the Banks and Building societies for lending them money they can’t afford to pay back!

I can assure you I am not a numptie, and I dont see how calling people names helps your post. I, for one, do not assume house prices will only go up, as I have said countless times now.

Why do you say people wont be able to pay their mortgages when you have no clue on the financial status involved. As it happens, my mortgage on both properties will be fairly low compared to alot of people with one mortgage.

Frankly, some of you who are so sure of a crash seem to only resort to flinging insults and taking glee in the destruction of other peoples hopes and efforts to secure a comfortable future.

Tiggs_2

one of the reasons people ignore the chance of a downturn is the attitude of those saying it will happen.

while it must be distressing for them to have spent the last few years saying the same old thing (and slowly realising that the crash will need to be bigger and bigger for every year that passes in order for their initial predictions to have any bearing) its a pity they post in the way they do.

many come across like the folks in the street who wail that the end of the world is round the corner......their posts are full of name calling, exclamation marks and suggested glee at the thought of people loosing their homes.

again, the frustration of standing on the platform while the equity train chugs out of the station leaving you behind must be huge.....but hurling insults at those onboard does nothing for your credibility.

T

mystic_trev

Ems*Honie wrote:

I can assure you I am not a numptie, and I dont see how calling people names helps your post.

I didn't mention individuals - but apologise if I caused offence!

The problem with this whole BTL thing is it's all getting toatally out of control. Friends have been asking me advice about buying, and although I try to warn them off, they assume as I've made a great deal of money out of it, they can too. It's a bit like the Goldrush - the only people who made money in the "Klondike" where those who were there at the begining!

I've now edited the original post so as not to cause any offence!

mystic_trev

Tiggs wrote:

again, the frustration of standing on the platform while the equity train chugs out of the station leaving you behind must be huge.....but hurling insults at those onboard does nothing for your credibility.

I totally agree, but as I've said before I've made my money out of Property (more than I could have dreamed of) and am now moving on. If people want to invest in Property they are probably better off looking outside of the UK.

All IMHO

meanmachine_2

Tiggs wrote:

again, the frustration of standing on the platform while the equity train chugs out of the station leaving you behind must be huge.....but hurling insults at those onboard does nothing for your credibility.

T

Oh the shame of having no "integrity" on an anonymous internet forum.

The problem you have is that there is no train. It's not chugging anywhere.

Houses become overbought, then they become underbought, then they become overbought etc etc

The idea of a train chugging away forever leaving behind 90% of the population who don't earn at least 50K+ is absurd.

Such analogies don't do the bulls any favour either.

If you wish to use this metaphor, then think of it as a circular train track.

Now imagine the look on the faces of those passengers when they travel passed "boomtown" and head back to where they began their journey.

poopscoop

Ems*Honie wrote:

I can assure you I am not a numptie, and I dont see how calling people names helps your post. I, for one, do not assume house prices will only go up, as I have said countless times now.

Why do you say people wont be able to pay their mortgages when you have no clue on the financial status involved. As it happens, my mortgage on both properties will be fairly low compared to alot of people with one mortgage.

Frankly, some of you who are so sure of a crash seem to only resort to flinging insults and taking glee in the destruction of other peoples hopes and efforts to secure a comfortable future.

Also, when reading posts, the true successful people are the ones that don't brag and keep it to themselves. It's kind of like pies

Ems*Honie

poopscoop wrote:

Also, when reading posts, the true successful people are the ones that don't brag and keep it to themselves. It's kind of like pies

How am I bragging? You know nothing of my financial status, my education, or anything else about me, other than the fact that I live in an area where it is possible to have two houses with a lesser mortgage than areas where prices are far higher.

poopscoop

Ems*Honie wrote:

How am I bragging? You know nothing of my financial status, my education, or anything else about me, other than the fact that I live in an area where it is possible to have two houses with a lesser mortgage than areas where prices are far higher.

not talking about you you have nothing to brag about

there are many properties in the UK that are similar to those two houses you mentioned. What is the rental yield for those two? I did find 3 properties recently with 12.86% return... beat that in todays market (no brags)

Ems*Honie

poopscoop wrote:

not talking about you you have nothing to brag about

LOL, I assumed you meant me as you had quoted me, sorry!

(I was a tad confused, but, its not unusual for me )

meanmachine_2

poopscoop wrote:

I did find 3 properties recently with 12.86% return... beat that in todays market (no brags)

Did you buy them, by the way?

Genuine inquiry.