Selling To Rent

chewmylegoff

wotsthat wrote: »

I was thinking about calculating the capital I've paid off in that time which would have balanced this. I didn't want to make it too complicated and I didn't want to end up double counting something.

Well by not making it too complicated it is rendered useless to my mind as you at not comparing like with like. Anyway, it's not really about the numbers it's more about the risk. It's a pretty stupid thing to do as an intentional gamble to try to make money in my view at least. Might as well MEW and go to a casino...

JonnyBravo

Graham_Devon wrote: »

Please don't pretend it's anything more than the same old argument, and you having concerns about your thoughts. The very fact you went and thanked the post calling people who STR disgusting shows your intent with this thread. How many times does this argument need to take place? It's continual.

Now I'm sure there must be countless examples of you pulling up people who STR who have gone on to say they came out ahead. I just don't seem to be ale to find them at the moment.
I'm sure there must be plenty though..... unless of course it's the fact that he's on "the other side of the fence" you don't like really?

geneer

Graham_Devon wrote: »

Who cares?

It's a personal decision and some will win, some will lose.

This kind of thing goes on every day with share buying and selling.

If your hindsight argument makes you feel superior to someone else on the internet who did sell to rent, thats brilliant, and I'm happy for you. It could have panned out very differently. The fact is, if it had panned out differently, you woudn't be writing the above post.

The reality is, hardly anyone did sell to rent and hardly any would. The numbers who did are miniscule. Most buy houses to live in, rather than gamble on.

I'm fairly certain theres quite a lot of people who didn't sell to rent in 2006. Not sure why the OP would choose to bang on about it.

I'm even more sure that those who did STR are an infinitesimal minority.

I'm not sure why the bulls are prone to obsessing about the same, but I suspect its based on a compulsion to invent arguments they might be able to win.

chewmylegoff

Flight2quality wrote: »

With the coming end of cheap easy credit, and the soaring of mortgage repayments very soon, the best advice is if you have a second home sell it pronto. And if you anticipate moving in the next few years sell you house and rent. The hassle of moving to a rental is nothing compared with the mental anguish of being upside down in a mortgage in a plummeting market. The next several years will be a great time to be a renter waiting for the bottom of the house value crash.

One unusual approach that may prove to be prudent is sell your house to a property management company at todays high prices. And then rent it back from them, let them watch the value of the house go down meanwhile you sleep well. When values hit bottom which will be after interest rates nomalise and clear out all the repossessions then even buy your house back off the management company at the new lower price if they haven't gone under.

This is only the "best advice" in the sense that it is slightly less awful that the advice you give to invest everything they have in precious metals. Even the contents of a baby's nappy could give better financial advice than you.

FTBFun

Flight2quality wrote: »

With the coming end of cheap easy credit, and the soaring of mortgage repayments very soon, the best advice is if you have a second home sell it pronto. And if you anticipate moving in the next few years sell you house and rent. The hassle of moving to a rental is nothing compared with the mental anguish of being upside down in a mortgage in a plummeting market. The next several years will be a great time to be a renter waiting for the bottom of the house value crash.

One unusual approach that may prove to be prudent is sell your house to a property management company at todays high prices. And then rent it back from them, let them watch the value of the house go down meanwhile you sleep well. When values hit bottom which will be after interest rates nomalise and clear out all the repossessions then even buy your house back off the management company at the new lower price if they haven't gone under.

Translation: buy silver.

Graham_Devon

JonnyBravo wrote: »

Now I'm sure there must be countless examples of you pulling up people who STR who have gone on to say they came out ahead. I just don't seem to be ale to find them at the moment.
I'm sure there must be plenty though..... unless of course it's the fact that he's on "the other side of the fence" you don't like really?

Sorry...what?

There must be countless examples....you just can't find any?

So there are not countless examples then?

Whats your beef?

This STR argument just seems to go on and on. Threads morph into another STR argument time and again. And whats the point? Hardly anyone actually STR'ed anyway. To come out with a whole new thread, and post some hindsight nonsense to have a pop at another poster is a little pointless in my mind. Who really cares? Only th extreme minority actually care.

IveSeenTheLight

geneer wrote: »

geneer's new avatar

Hey geneer, what's the significance of your new avatar?
I get the feeling there's a meaning behind it.

I did like your previous mug shot.

geneer

IveSeenTheLight wrote: »

Hey geneer, what's the significance of your new avatar?
I get the feeling there's a meaning behind it.

I did like your previous mug shot.

Its a pictorial depiction of a number.

Dan:_4

Flight2quality wrote: »

With the coming end of cheap easy credit, and the soaring of mortgage repayments very soon, the best advice is if you have a second home sell it pronto. And if you anticipate moving in the next few years sell you house and rent. The hassle of moving to a rental is nothing compared with the mental anguish of being upside down in a mortgage in a plummeting market. The next several years will be a great time to be a renter waiting for the bottom of the house value crash.

One unusual approach that may prove to be prudent is sell your house to a property management company at todays high prices. And then rent it back from them, let them watch the value of the house go down meanwhile you sleep well. When values hit bottom which will be after interest rates nomalise and clear out all the repossessions then even buy your house back off the management company at the new lower price if they haven't gone under.

This would work great, except house prices are unlikely to fall to levels you describe. The content of your post has been pretty much repeated since I started using in MSE.

Nevertheless, as someone who is now renting and will not be buying again until at least 2015 I hope your are proved right, I really do.

wotsthat

geneer wrote: »

I'm fairly certain theres quite a lot of people who didn't sell to rent in 2006. Not sure why the OP would choose to bang on about it.

I'm even more sure that those who did STR are an infinitesimal minority.

I'm not sure why the bulls are prone to obsessing about the same, but I suspect its based on a compulsion to invent arguments they might be able to win.

OK you get the prize for the first mention of bulls or bears:T

I thought the maths was quite interesting and I was quite reassured by it. Not much more too it than that.

To be honest hanging around here I got the impression that there were more people who STR'ed in the middle of the last decade. Not trying to claim it was widespread but I suspect it was more than an infinitesimal minority.