Good Old Fergus!

chucknorris

Crashy_Time wrote: »

So no one wanted it six years ago when it was CHEAPER but they will want it now when it is more expensive? Is the point of BTL to get yourself as deep in the doo doo as possible? Isn`t the reality just that he isn`t going to be able to exit the market except at fire sale prices? If, as you seem to believe, he has a great lifestyle on all this never ending rent he pulls in, why wouldn`t he just pay the bank off, and lock in that income stream for the rest of his life?

Prices were substantially lower 6 years ago! Obviously it is worth more now. I really think that you should stop embarrassing yourself, a 14 year old child would know that his portfolio is worth substantially more today than it was 6 years ago.


You seem obsessed with avoiding debt, not all debt is bad, but I would add if I was him I would sell off at least 60% of my portfolio, simply to lock the profit in, but I wouldn't under sell it.

Crashy_Time

chucknorris wrote: »

Prices were substantially lower 6 years ago! Obviously it is worth more now. I really think that you should stop embarrassing yourself, a 14 year old child would know that his portfolio is worth substantially more today than it was 6 years ago.


You seem obsessed with avoiding debt, not all debt is bad, but I would add if I was him I would sell off at least 60% of my portfolio, simply to lock the profit in, but I wouldn't under sell it.

You always resort to the Everybody knows that! line when you know you are talking carp, much as a young child would actually, but the question was - Why did no one want it six years ago?

chucknorris

Crashy_Time wrote: »

You always resort to the Everybody knows that! line when you know you are talking carp, much as a young child would actually, but the question was - Why did no one want it six years ago?

You really have no idea about finance or business, do you? I can't really understand how someone could lack so much perception as you do, and yet despite this, you carry on showing your ignorance. If you were a half wit, you would have scampered off with your tail between your legs, long ago, realising that you were embarrassing yourself. Although I should of course have realised that after previously seeing countless posts from wotshat and ukcarper trying but failing to educate you.

I think everyone knows the answer to your current stupid question, which was 'Why did no one want it six years ago?':

Because 6 years ago we were looking into the abyss of a downturn with huge negative potential. All investment is severely curtailed at such times, but Jesus, did I really have to spell that out to you! You are unbelievable!

Crashy_Time

chucknorris wrote: »

You really have no idea about finance or business, do you? I can't really understand how someone could lack so much perception as you do, and yet despite this, you carry on showing your ignorance. If you were a half wit, you would have scampered off with your tail between your legs, long ago, realising that you were embarrassing yourself. Although I should of course have realised that after previously seeing countless posts from wotshat and ukcarper trying but failing to educate you.

I think everyone knows the answer to your current stupid question, which was 'Why did no one want it six years ago?':

Because 6 years ago we were looking into the abyss of a downturn with huge negative potential. All investment is severely curtailed at such times, but Jesus, did I really have to spell that out to you! You are unbelievable!

So you are saying that he had it on the market six years ago, because ......he needed to sell, or he didn`t know we were in the biggest downturn...or what? and he took it off the market for what, six years, and now it is back on, because he needs to sell, or he thinks we are not still in a mess ....or is it just that you are a total muppet who can`t admit that he is over-leveraged, always was over-leveraged, got bailed out by zero emergency rates, and has now been told by his creditors to start selling their assets before things really go pear shaped?

chucknorris

Crashy_Time wrote: »

So you are saying that he had it on the market six years ago, because ......he needed to sell, or he didn`t know we were in the biggest downturn...or what? and he took it off the market for what, six years, and now it is back on, because he needs to sell, or he thinks we are not still in a mess ....or is it just that you are a total muppet who can`t admit that he is over-leveraged, always was over-leveraged, got bailed out by zero emergency rates, and has now been told by his creditors to start selling their assets before things really go pear shaped?

Wow! Your naivety has reached new lows, congratulations, I really didn't think that was possible, given your previous responses. Your comprehension of our discussion just doesn't make sense, is this because you are drunk, on drugs or mentally disturbed? I have answered your question, are you not able to understand my response?


He is obviously not currently over leveraged! He probably pays on average about 1.5% above the base rate and bought from the early 90's to about 2007, so his equity is unquestionably quite high. Therefore given his low mortgage rate and his low loan to value loans, his mortgage payments will not exceed his interest payments. In fact on a much smaller scale I bought in virtually the same timeframe, in my case it was from 1991 to 2008.

Crashy_Time

chucknorris wrote: »

Wow! Your naivety has reached new lows, congratulations, I really didn't think that was possible, given your previous responses. Your comprehension of our discussion just doesn't make sense, is this because you are drunk, on drugs or mentally disturbed? I have answered your question, are you not able to understand my response?


He is obviously not over leveraged! He probably pays on average about 1.5% above the base rate and bought from the early 90's to about 2007, so his equity is unquestionably quite high. Therefore given his low mortgage rate and his low loan to value loans, his mortgage payments will not exceed his interest payments. In fact on a much smaller scale I bought in virtually the same timeframe, in my case it was from 1991 to 2008.

So you are saying it is okay to take six years to sell, he can afford to wait? :rotfl:

Crashy_Time

chucknorris wrote: »

Wow! Your naivety has reached new lows, congratulations, I really didn't think that was possible, given your previous responses. Your comprehension of our discussion just doesn't make sense, is this because you are drunk, on drugs or mentally disturbed? I have answered your question, are you not able to understand my response?


He is obviously not currently over leveraged! He probably pays on average about 1.5% above the base rate and bought from the early 90's to about 2007, so his equity is unquestionably quite high. Therefore given his low mortgage rate and his low loan to value loans, his mortgage payments will not exceed his interest payments. In fact on a much smaller scale I bought in virtually the same timeframe, in my case it was from 1991 to 2008.

Bet you are glad you are not trying to sell now, what with Fergus having such difficulty, and him being one of the Big Boys?

chucknorris

Crashy_Time wrote: »

So you are saying it is okay to take six years to sell, he can afford to wait? :rotfl:

I have said what I want to say on the matter, if you cannot understand my response, maybe you could get one of your smarter friends to explain it to you.

Crashy_Time

chucknorris wrote: »

I have said what I want to say on the matter, if you cannot understand my response, maybe you could get one of your smarter friends to explain it to you.

To make it easier, why don`t you tell us when you think people will be ready to "invest" in what Fergus has got? Give it your best shot.

chucknorris

Crashy_Time wrote: »

Bet you are glad you are not trying to sell now, what with Fergus having such difficulty, and him being one of the Big Boys?

We have no interest in selling (not for at least 10 years anyway), we have just submitted our tax returns and the combined profit from the land and property section of our tax returns was just under £100k. But my also wife owns a substantial house that her mother lives in rent free, when she eventually vacates that house at some point during our retirement that will boost our rental income to over £120k. We are very happy with that, it certainly beats the return that the equity released would give us, so why sell? We also have plenty of liquid assets too in pension, shares and cash (my wife, not I, as I don't want to hold much in cash).