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Jonathan Davis. Front Page FT. Financial Adviser. April 2005. Guess What he said.
Comments
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I know a Liverpool fan who predicts every year that his team will win the Champions League. He was right in 2005 as well.
That's every Liverpool fan.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
I know a Liverpool fan who predicts every year that his team will win the Champions League. He was right in 2005 as well.
The have not struck lucky with the premiership yet, 'THIS TIME'
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
I know a Liverpool fan who predicts every year that his team will win the Champions League. He was right in 2005 as well.
If he was still saying it when they went 3:0 I would be impressed. I actually switched the sound off and started playing chess and was amazed when I looked up and saw that the score was 3:2, I thoroughily enjoyed the rest of the match.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
I actualy know this bloke. Whilst ordinary folk built a valuable property empire that throws off a great net yield, this amateur has been fiddling about with packaged investment policies and at best has only modest income and wealth himself.
20 years from now, your average buy to letter with a few properties will be in a cosiderably better position than this commision crow.
I know a guy in 2008 who was still being advised by his financial adviser to buy BTL. I told him he was nuts.
I spoke to him last year and he said that if interest rates had not been reduced he would have been in big trouble. He is hoping they stay low for years.
In 2006 he was going to buy a shop with living space above, £95,000. Someone beat him to it. There was an advert in the property paper this week advising that the amount of £65,000 had been offered for this property. He was lucky with this one.
3 adverts like this in this weeks property paper. There were none at the beginning of the year.0 -
I know a guy in 2008 who was still being advised by his financial adviser to buy BTL. I told him he was nuts.
I spoke to him last year and he said that if interest rates had not been reduced he would have been in big trouble. He is hoping they stay low for years.
In 2006 he was going to buy a shop with living space above, £95,000. Someone beat him to it. There was an advert in the property paper this week advising that the amount of £65,000 had been offered for this property. He was lucky with this one.
3 adverts like this in this weeks property paper. There were none at the beginning of the year.
You seem to have missed the point. Conrad was talking of a 20 year timeframe, not a three or five year.0 -
mystic_trev wrote: »You seem to have missed the point. Conrad was talking of a 20 year timeframe, not a three or five year.
Yes I know that. What I am saying is that the guy may be in trouble before than and lose his BLT`s.
What no comment about the £35,000 haircut that someone has taken?0 -
Yes I know that. What I am saying is that the guy may be in trouble before than and lose his BLT`s.
I've never understood that mentality.
You buy a BTL.
The tenant pays all or the vast majority of the mortgage in the first few years. As rents rise, it turns remarkably cashflow positive after just a few years. And at the end of 25 years, someone else has bought you an asset and then some.
So what difference does it make if the price of the asset fluctuates in the meantime by 5% or 10% or even 30% for that matter?
It's a free asset!!! It could fall by 50% in 25 years and STILL be a good deal.
And if nobody should ever buy anything that they may at some random point in the future need to sell at the bottom of some market fluctuation for less than they paid if they are extremely unlucky, then nobody would ever buy anything at all.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
I know a guy in 2008 who was still being advised by his financial adviser to buy BTL. I told him he was nuts.
I spoke to him last year and he said that if interest rates had not been reduced he would have been in big trouble. He is hoping they stay low for years.
Why would he be in trouble?
Rents are higher today than they were in 2008, when interest rates were also far higher.
If the rent covered the mortgage then, when rates were higher and rents lower, why would it not again when rates return to that level and rents are higher still?
This story smells like sh1te to me.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »I've never understood that mentality.
You buy a BTL.
The tenant pays all or the vast majority of the mortgage in the first few years. As rents rise, it turns remarkably cashflow positive after just a few years. And at the end of 25 years, someone else has bought you an asset and then some.
So what difference does it make if the price of the asset fluctuates in the meantime by 5% or 10% or even 30% for that matter?
It's a free asset!!! It could fall by 50% in 25 years and STILL be a good deal.
And if nobody should ever buy anything that they may at some random point in the future need to sell at the bottom of some market fluctuation for less than they paid if they are extremely unlucky, then nobody would ever buy anything at all.
Not if they are on interest only as his are.0
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