A Year In The Life

chucky

Generali wrote: »

He can also be pompus, patronising and dismissive but he does take a lot of insults so I can't say I blame him really.

is he Hamish??

Mr_Matey

chucky wrote: »

i would love to contribute but i would then be told that anecdotal information means nothing :o

Don't hold back chuckmeister, anecdotals make good reading. Sometimes the best view of the wood comes from the trees.

His point #1 for not buying more in 2010 is a big reason why I wouldn't want to be a buy-to-letter unless the returns are significant. Owning shares is so hassle free in comparison. Plus I'm not much of a DIY-er so would be paying a lot to tradies.

chucky

Mr_Matey wrote: »

Don't hold back chuckmeister, anecdotals make good reading. Sometimes the best view of the wood comes from the trees.

His point #1 for not buying more in 2010 is a big reason why I wouldn't want to be a buy-to-letter unless the returns are significant. Owning shares is so hassle free in comparison. Plus I'm not much of a DIY-er so would be paying a lot to tradies.

ok, ok i sold between 2004-2006. not because i predicted anything but because i felt i had made enough profit for what i wanted to move onto something else.

i purchased 3 times in the 2nd half of 2008 because not only were the prices right but the finance to get the property was at the right price. there was no one looking so the prices that i achieved were very good imo because there was no one else to sell to.

i've looked in 2009 and am still looking in 2010 - there are much less properties to choose from that would be called a quality investment. to add to that the finance side is very expensive and even if you found something that you liked - it would not be a good business decision due to the high finance costs, so less profit. there is a way round that but that's another story...

so in my view 2008 and early 2009 are better times to buy for an investor than 2010 if you're buying using finance. cash is a different story.

just my point of view btw

Mr.Brown_4

chucky wrote: »

ok, ok i sold between 2004-2006. not because i predicted anything but because i felt i had made enough profit for what i wanted to move onto something else.

i purchased 3 times in the 2nd half of 2008 because not only were the prices right but the finance to get the property was at the right price. there was no one looking so the prices that i achieved were very good imo because there was no one else to sell to.

i've looked in 2009 and am still looking in 2010

Yeah, I did the same thing. Except sold mainly end of 2006 beginning of 07. Wanted to try something different. But I missed the feeling of excitement that being a BTL landlord brings so I bought some knockdowns in 2008 like you, because the auction prices were good, and of course I was cash rich from the earlier sales. Last month I sold them on again and am planning to take a break - maybe do a property show on cable for a while until the market looks right again.

After all - ten years of being an investor in these markets - no need to work again now.

Really2

Mr.Brown wrote: »

Yeah, I did the same thing. Except sold mainly end of 2006 beginning of 07. Wanted to try something different. But I missed the feeling of excitement that being a BTL landlord brings so I bought some knockdowns in 2008 like you, because the auction prices were good, and of course I was cash rich from the earlier sales. Last month I sold them on again and am planning to take a break - maybe do a property show on cable for a while until the market looks right again.

After all - ten years of being an investor in these markets - no need to work again now.

Did you set up that vineyard specialising in sour grapes or did you think better of it in the end.

Mr.Brown_4

Really2 wrote: »

Did you set up that vineyard specialising in sour grapes or did you think better of it in the end.

No need mate, although come to think of it a vineyard or two might be fun. No, just sharing some anecdotal with you, sorry if it makes anyone jealous.

chucky

Mr_Matey wrote: »

Don't hold back chuckmeister, anecdotals make good reading. Sometimes the best view of the wood comes from the trees.

His point #1 for not buying more in 2010 is a big reason why I wouldn't want to be a buy-to-letter unless the returns are significant. Owning shares is so hassle free in comparison. Plus I'm not much of a DIY-er so would be paying a lot to tradies.

and i'm lucky as i've got a member of the family who is retired and is a bit of a handy man who deals with all the bits and pieces that need fixing. it keeps him active and he seems to enjoy it. i rather be giving him a bit of money than to random tradesmen.

you also have the option of the maintenance cover that British Gas and the utility companies offer which is good vale for money imo.

Mr.Brown_4

chucky wrote: »

and i'm lucky as i've got a member of the family who is retired and is a bit of a handy man who deals with all the bits and pieces that need fixing. it keeps him active and he seems to enjoy it. i rather be giving him a bit of money than to random tradesmen.

you also have the option of the maintenance cover that British Gas and the utility companies offer which is good vale for money imo.

Me too. It's quite good to see Grandad up on a roof, and I pick him up from the care home so it saves money on taxis. Only joking of course - I prefer to use professionals, that way I can sue them if they mess up.

As for British Gas - well I prefer the plan from Eon which covers all my properties for a very reasonable fee. These sorts of decisions probably come down to experience.

nearlynew

Mr.Brown wrote: »

No need mate, although come to think of it a vineyard or two might be fun. .

Here's one for sale just up the road from me....


http://www.rightmove.co.uk/property-for-sale/property-23479219.html?pageNumber=1&fromSummary=true&backToListURL=%2Fproperty-for-sale%2FVale-Of-Glamorgan.html

chucky

Mr.Brown wrote: »

Me too. It's quite good to see Grandad up on a roof, and I pick him up from the care home so it saves money on taxis. Only joking of course - I prefer to use professionals, that way I can sue them if they mess up.

As for British Gas - well I prefer the plan from Eon which covers all my properties for a very reasonable fee. These sorts of decisions probably come down to experience.

i've read on a Landlord forum that some landlords pay "professionals" to do work on their own home and have it invoiced as work to one of their BTL properties. i've told them it's wrong and it's not cricket.