Debate House Prices


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Renters- Please pay for my property

andybenw
andybenw Posts: 212 Forumite
in Debate House Prices & the Economy
I have an idea.

I will buy a house with a mortgage.

Then I will rent it out.

Renter pays my mortgage and maintenance costs.

After 25 years mortgage paid.

Now I sell property and cash in. Huzzah- sweets off a child.
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Comments

  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    andybenw wrote: »
    Renter pays my mortgage and maintenance costs.

    After 25 years mortgage paid.

    Now I sell property and cash in. Huzzah- sweets off a child.

    Have you calculated the after the tax profit you would need to achieve this over a 25 year period?
  • abaxas
    abaxas Posts: 4,141 Forumite
    Have you factored in the relative value of the currency the mortage is in?

    No point having a 2 million pound property that is worth 120 rupees.
  • andybenw
    andybenw Posts: 212 Forumite
    abaxas wrote: »
    Have you factored in the relative value of the currency the mortage is in?

    No point having a 2 million pound property that is worth 120 rupees.


    Pounds sterling thank you very much.
  • vivatifosi
    vivatifosi Posts: 18,746 Forumite
    Part of the Furniture 10,000 Posts Mortgage-free Glee! PPI Party Pooper
    And I was wondering if you had factored in the cost of repairs, voids, insurances, safety compliance (eg gas), non-payment, etc...
    Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
  • doire_2
    doire_2 Posts: 2,280 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    andybenw wrote: »
    I have an idea.

    I will buy a house with a mortgage.

    Then I will rent it out.

    Renter pays my mortgage and maintenance costs.

    After 25 years mortgage paid.

    Now I sell property and cash in. Huzzah- sweets off a child.


    I've an idea. Why dont you go for a long walk off a short bridge
  • HappyMJ
    HappyMJ Posts: 21,115 Forumite
    10,000 Posts Combo Breaker
    andybenw wrote: »
    I have an idea.

    I will buy a house with a mortgage.

    Then I will rent it out.

    Renter pays my mortgage and maintenance costs.

    After 25 years mortgage paid.

    Now I sell property and cash in. Huzzah- sweets off a child.
    What a fantastic idea. What is your return on investment?
    :footie:
    :p Regular savers earn 6% interest (HSBC, First Direct, M&S) :p Loans cost 2.9% per year (Nationwide) = FREE money. :p
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    doire wrote: »
    I've an idea. Why dont you go for a long walk off a short bridge

    whats up doire?
  • IronWolf
    IronWolf Posts: 6,429 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    vivatifosi wrote: »
    And I was wondering if you had factored in the cost of repairs, voids, insurances, safety compliance (eg gas), non-payment, etc...

    lol, things like that never happen...

    ...apparently
    Faith, hope, charity, these three; but the greatest of these is charity.
  • reweird
    reweird Posts: 281 Forumite
    doire wrote: »
    I've an idea. Why dont you go for a long walk off a short bridge
    I've an idea why don't you change your sockies.
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    vivatifosi wrote: »
    And I was wondering if you had factored in the cost of repairs, voids, insurances, safety compliance (eg gas), non-payment, etc...

    Over time the rental income will cover these costs.
This discussion has been closed.
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