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BTL, could we do it?

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Comments

  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Cripes. It all got a bit heated while I was snoozing away last night, sleeping the sleep of the bloke that hasn't got £800k of mortgages on a BTL empire.
  • pickles110564
    pickles110564 Posts: 2,374 Forumite
    grey_lady wrote: »

    .

    MSE is a good site - but possibly not the same as getting professional advice, and no FA is psychic, (there are some nice but questionable FA's)
    think about ways that you can minimise the risks.


    l

    Why take advice from FA's or IFA's? If they were any good they would be making money for themselves not advising you how to lose all your hard earned cash!
  • sortofok
    sortofok Posts: 515 Forumite
    Well said picks.
    Whenthemusicstopsmakesureyou'renotleftstanding
  • terrierlady
    terrierlady Posts: 1,742 Forumite
    where can one still buy a property for 32K?
    dont spend your life regreting, go for the dream, if only is an expression I have used working in the industry I wish I had taken advantage of knowledge and brought and sold more.
    my bark is worse than my bite!!!!!!!!
  • sortofok
    sortofok Posts: 515 Forumite
    Hindsight is a wonderful thing.

    History repeats itself and those that don't learn the lesons from history are doomed to repeat the mistakes.

    P.S. The price of the flat has gone up. Apparerently, after reading some posts on here a flat bought in 1987 for 26k cannot possibly be now worth only 32k.
    I must be stupid or something.
    What am I to do?

    Alright 60k.

    Anyone?
    Whenthemusicstopsmakesureyou'renotleftstanding
  • benood
    benood Posts: 1,398 Forumite
    sortofok wrote: »
    ..........., after reading some posts on here a flat bought in 1987 for 32k cannot possibly ...........

    I thought you said it cost £26k in 1987? Does this flat exist?
  • sortofok
    sortofok Posts: 515 Forumite
    My mistake.
    I've changed it now :o
    Whenthemusicstopsmakesureyou'renotleftstanding
  • Melissa177
    Melissa177 Posts: 1,727 Forumite
    Eh? :confused:
    Errors of opinion may be tolerated where reason is left free to combat it. - Jefferson
  • phlash
    phlash Posts: 883 Forumite
    500 Posts
    I just glanced through this thread....and it makes me cringe.

    Please do not get a "BTL Investment" at this moment in time.

    It is the worst time EVER, to get into BTL. Especially with your current income level. I've made references in other threads as to why it is such a bad time. If you are even slightly serious about investing, then may I suggest you investigate what I have written in previous threads first.

    Having considered just a few of the arguments against BTL investment in this current climate, you should find yourself of the opinion that it is not worth the RISK.

    I would despair if you actually went ahead with it.
    I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
    That also means I cannot share in any profits from any decisions made!;)
  • phlash
    phlash Posts: 883 Forumite
    500 Posts
    http://www.thisismoney.co.uk/mortgages/buy-to-let/article.html?in_article_id=420563&in_page_id=56

    Take a read.
    I can take no responsibility for the use of any free comments given, any actions taken are the sole decision of the individual in question after consideration of my free comments.
    That also means I cannot share in any profits from any decisions made!;)
This discussion has been closed.
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