FTB - Buy to Let?

BobProperty

PoorDave wrote:

....Someone on here was trying to tell me rate increases are all to do with Japan, but refused to explain, giving the feeling it was beneath him, when it seemed more like he didn't know

I think he/she meant they were going up globally. It has been discussed on here before (surprisingly !). Japan has increase their base rate for the first time in about 12 years I think. US has gone up, Euro has gone up, UK forward prices already have .25 up factored in, if I remember all the figures correctly.

Lady_Lea

if I put myself in your shoes I would ask myself a few questions

Do you have enough money to live on?
Are you completely satisfied with what your doing?
Do you wake up - deperate to get out of bed and use the day to its fullest?

If you do have enough, enjoy what you do, and are happy when you wake up - then why change anything?

If you don't have enough, hate your job and are grumpy in the morning (which for all those who say they can not help being grumpy in the morning - thats rubbish - you choose how to be when you open your eyes) then you need to do something about it, and if you think property will fix everything, try it.

I don't think getting on any kind of socially accepted ladder can do all the things that are important - as long as you have a roof over your head.

Despite the myth (and this is my opinion) - renting is NOT a dead end - it is what about 40% of the population do, and it does not make anyone a better / richer / nicer person to own a house.

Lots of people that own a house (or should I say pay a very high amount of money to a lender each month - and own the right to own it in say 25 years) are not any better off because they end up getting re-mortgages, secured loans and credit against the property ... and may never end up really owning it anyway - and even if they did, they still have to get up in the morning the same as people who rent - lol

Property can make you very wealthy - and it did me for a while - but the markets can change overnight - and what made money one month can loose it the next. All if takes is for a TV show or newspaper to tell everyone to go and BTL in a certain town - and the town is flooded by wannabe investors who then all end up with empty properties because there are too many up for rent. As with buy to sell - you can buy a proeprty and do it up to make a profit - then have 10 others go up on the same street and your !!!!!!ed. Most of the property market is totally out of your control.

Thanks for posting my link Bob, I found this site when I saw that my stats had doubled overnight! Looks like a very interesting forum - and yes, if you want to ask me anything on my opinion of property or making money - I am more than happy to answer if I think it will help other people and prevent them making the same mistakes that i did.

BobProperty

Lady Lea, I think you'll find this place a bit like Royston Vasey.....

"you'll never leave"

Perhaps you could start a new thread on what you have done in the property business?

stphnstevey

Everybody has there own attitude to risk and everyone has there own 'comfort zone'. Whats right for the originator of this thread (remember the original question!) has to come down to there own judgement. What we would or wouldn't do is only advice, based on our own individual past experiences, which they can take or leave. No one can predict the future so no matter what choice they make, it's half chance anyway!:rotfl:

Best of luck!

Lady_Lea

lol - Bob, that is funny. I'm sure I will stick around if I feel comfortable - never thought I would get back on forums again after getting shot down big time in 2002 for being too abmitious - forums are a bit addictive.

stphnstevey - yeah I think most thinks are down to opportunity and chance, you can kind of make your own luck.
Comfort zones can change when you read other peoples experience - I know lots of people that were about to invest in new build off plan that changed their mind after hearing my story ......