Accidental landlady, or "How I made £200k"

Jimmy_31

SuzieSue wrote: »

Well, obviously you don't get it! What part of "anonymous forum" do you not understand??? If she was talking to someone at work, she would probably give percentages, but she doesn't need to on an anonymous fourum.

She does need to give percentages on a forum else she will look like shes boasting which has happened. Are you really inspired by this woman ? if so fair play to you but to me she sounds like shes the type of person who needs to tell people how brilliant she is at everything she does for example landlady, author, public speaker and so on.

suited-aces

"property homeowning class"?

2 out of 3 ain't bad I suppose

Jimmy_31

PROPERTY_HOMEOWNING_CLASS wrote: »

Good God yes she was obviously boasting about living her modest life of !0,000 a year living with tenants. Get a fcukin grip. Delusions of grandeur are muppets like you think you'll pick up some distressed sellers house for buttons.

Nice name you have got there, i am hoping to pick up a house for slightly more than what its worth before the housing bubble started, now that the housing bubble is gradually deflating it is a very real possibility that i will pay a Normal price for a home.

If i happen to buy a home from a distressed seller what do you suggest i do, give them free money to cover the negative equity that they are in? it is not my fault that the majority of people who bought homes during the boom did so from fear of forever being priced out and are now paying the consequences, I refused to pay the prices people were asking so obviously i have to wait for prices to get back to normal, lots more people could have done this but fell for all the media hype and property program lies.

How anybody could pay TWO HUNDRED AND FIFTY THOUSAND POUNDS plus for a 2 bed terrace is beyond me. The fact is the "free" money has now run out and there are a lot of people wondering what the hell they were thinking borrowing vast multiples of their sallarys to buy a shoebox

property.advert

geoffky wrote: »

What you probably do not realise is that none of it has been done through hard work at all, just luck in your timing...simple as that...The gains that have happened over the last ten years will never in my lifetime be repeated.but well done anyway.

True, very true. Had I bought shares in XYZ (you go pick one) then I'd be a gazillionaire now.

Cissi

I don't really get the point of the original post. As I read it, OP bought a flat for £12k in 1996 and now owns a house worth £175k, financed with the equity increase and rental income from the flat and from lodgers. So, like thousands of people who happened to buy at the right time, she's made a theoretical gain - theoretical until she sells the house and finds somewhere else to live for free. Big deal.

We also bought our first house in 1996 - the OP is obviously in a totally different part of the country, but the same principle still applies, we were lucky with our timing in many ways. Bought for £125k in 1996, sold for £205k in 2000, moved to London and bought for £375k in 2000, sold for £475k in 2005, clearing well over £200k in equity, and all this in just 9 years. Sounds great - until you realise that we were also looking to buy again in London, a bigger place this time. We did eventually manage this, through another combination of luck and timing (work related) and now own our house outright - but the point is, yes, our initial £12.5k deposit has "grown" to something that sounds very impressive on paper, but at the end of the day, it's our home. It isn't actually money that we've made, unless we sold up and downsized considerably, moving somewhere totally different (which we have no intention of doing).

As I see it, any true financial gain that the OP has made has been generated by deciding to take in several lodgers at a time and living frugally. Good for her; wouldn't be my lifestyle choice but it's a valid income source. £75k put by in 15 years isn't a huge amount but in the context of the OP's living costs it's a nice nestegg. But the whole thing is hardly a case of exceptional financial gain by any stretch of imagination, so I'm baffled both by the OP and the following discussion.

franklee

Cissi wrote: »

I don't really get the point of the original post. As I read it, OP bought a flat for £12k in 1996 and now owns a house worth £175k, financed with the equity increase and rental income from the flat and from lodgers. So, like thousands of people who happened to buy at the right time, she's made a theoretical gain - theoretical until she sells the house and finds somewhere else to live for free. Big deal.

We also bought our first house in 1996 - the OP is obviously in a totally different part of the country, but the same principle still applies, we were lucky with our timing in many ways. Bought for £125k in 1996, sold for £205k in 2000, moved to London and bought for £375k in 2000, sold for £475k in 2005, clearing well over £200k in equity, and all this in just 9 years. Sounds great - until you realise that we were also looking to buy again in London, a bigger place this time. We did eventually manage this, through another combination of luck and timing (work related) and now own our house outright - but the point is, yes, our initial £12.5k deposit has "grown" to something that sounds very impressive on paper, but at the end of the day, it's our home. It isn't actually money that we've made, unless we sold up and downsized considerably, moving somewhere totally different (which we have no intention of doing).

As I see it, any true financial gain that the OP has made has been generated by deciding to take in several lodgers at a time and living frugally. Good for her; wouldn't be my lifestyle choice but it's a valid income source. £75k put by in 15 years isn't a huge amount but in the context of the OP's living costs it's a nice nestegg. But the whole thing is hardly a case of exceptional financial gain by any stretch of imagination, so I'm baffled both by the OP and the following discussion.

Yes it's bizarre isn't it, anyone would have to be living on the moon not to have noticed the house price boom (& bust). I expect there are many, many people with figures very similar to yours. At about the time you and the OP purchased (mid-nineties) I remember being able to buy a pretty average house on three times salary, it's now about seven times for an equivalent job. Why so many people think this is a good thing is beyond me because, as you rightly point out, everyone needs to live somewhere unless they downsize considerably and higher prices make it harder to trade up. Meanwhile we as a country have record debts largely due to the house price boom (has everyone forgotten those bank bailouts etc.) and this is causing many problems. Not to mention FTBs priced out, often leaving Mum and Dad to dip into their windfall house price rise to provide the kids with deposits, gets expensive if they've several kids.

As for the OP's wild claims that people here hate those who take in lodgers, what tosh, certainly I can think of another landlady who does that who's is very popular here but then she's lovely and writes an entertaining thread.

Methinks super is a (rather poor if mildly entertaining) troll

Doozergirl

Why are people still arguing over this when it was clearly a troll?

Do we get to grips with the fact that there is nothing worth arguing about, that it was purely written to provoke the ensuing bun-fight and let this one die a death or do we ask for it to be locked?

Gwhiz

Doozergirl wrote: »

Why are people still arguing over this when it was clearly a troll?

Do we get to grips with the fact that there is nothing worth arguing about, that it was purely written to provoke the ensuing bun-fight and let this one die a death or do we ask for it to be locked?

Agreed! Shame we don't have mods to lock threads as other forums do. Would be so much easier to stop this sort of stuff.

[Deleted User]

climbgirl wrote: »

It's in the title - "how I made £200k"

poor answer.. 200k assets is different to 200k in earnings over a set duration.. heck, i've made about 300k in my career so far, but thats just through going to work and moving jobs. Nothing amazing.. so why should we be bothered about someone earning 200k? Even over 10 years, it's nothing to jump around about.

climbgirl

ringo_24601 wrote: »

Nothing amazing.. so why should we be bothered about someone earning 200k? Even over 10 years, it's nothing to jump around about.

We agree it's not amazing - hence all the posts questioning the original poster!