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Debate House Prices
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Renters- Please pay for my property
Comments
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Let me get this straight in my head .....
1. Buy House for £100k
2. Use a £75k Mortgage, Interest Only.
3. Find a numptie and offer said house for £800/month - £9,600 per year.
4. Assuming, of course, numptie actually goes for it when they could buy their own ....
5. Hold for 25 years - numptie will have paid you a minimum of £240,000
6. Sell house for £200,000 (a very conservative 4% a year)
7. Pay off original £75k
8. Keep £125k - pay any tax due
9. So, what you are saying is "You cannot lose"?
10. Chuck numptie onto street to rent again ........
I like it, I like it A LOT!!
And the irony is a lot of those numpties and their sockies stalk these fora. Fora called MoneySavingExpert. :rotfl::rotfl::rotfl::rotfl:0 -
Thats what the local Btl landlord legend around here planned to do.
One of his tenants told him to fcuk off when he tried to put the rent up.
Now he is too scared to put the rent up or to try and evict the tenant.
The tenants mates have not been contacted again regarding any rent increases.
Wont be long before they stop paying rent altogether.
Sweets off a grown man.
You've said before you can get a terraced property for circa £60k.
A quick look on rightmove is showing these renting for circa £500 pcm.
10% rental yield is not to be sniffed at
RY = (pcm rent * 12) / purchase price:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
I'm just wondering whether the forum can really get any lower than this.
It's even putting me off posting and browsing around here...and thats something.0 -
IveSeenTheLight wrote: »You've said before you can get a terraced property for circa £60k.
A quick look on rightmove is showing these renting for circa £500 pcm.
10% rental yield is not to be sniffed at
RY = (pcm rent * 12) / purchase price
Its the sniffing that scares the landlords away from here.0 -
The buy-to-let boom was fuelled by overly generous social security payments to landlords. Those days may be gone."Never underestimate the mindless force of a government bureaucracyseeking to expand its power, dominion and budget"Jay Stanley, American Civil Liberties Union.0
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If it's so great, how come so many LLs are in trouble/repossessed?0
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PasturesNew wrote: »If it's so great, how come so many LLs are in trouble/repossessed?
Same reasons any investment or business goes wrong I guess. Incompetence, got their sums wrong, bad luck, overstretched, mis-judged the market... could be any number of reasons why a business goes wrong.
If you do your sums and research correctly it's quite hard to go wrong with BTL as an investment.0 -
Graham_Devon wrote: »I'm just wondering whether the forum can really get any lower than this.
.
It's been far lower in the past.:money:“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 -
Graham_Devon wrote: »I'm just wondering whether the forum can really get any lower than this.
It's even putting me off posting and browsing around here...and thats something.
It's not often I agree with you (let alone thank you) but the number of senseless baiting posts just seems to grow and grow (from both sides).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 -
chucknorris wrote: »It's not often I agree with you (let alone thank you) but the number of senseless baiting posts just seems to grow and grow (from both sides).
A while back, I used to post on here on a reasonably frequent basis. Over time it has just got less and less. This is the main reason. Pretty much nothing but drivel from 2 polarised ends of the spectrum. So boring.0
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