buy to let warning

ptwparkinson

KMMT wrote: »

You may try to help the tenants but you didn't buy 20 properties to 'help' people. You brought 20 properties to line your own pockets. Please do not make out owning 20 properties is for anyone's benefit but your own. Unfortunately the market turned & you along with many others lost money on houses.

I don`t really see what your problem is

---

go to your local papershop and tell them only to sell 50 newspapers per day because to sell more means that they are making more money than you and it isn`t fair --- go and do the same at your local pub --- tell them not to sell so many pints for the same reason


people have been saying that buy to let landlords were putting up house prices by buying into the market --- in actual fact most of us have tried to keep house prices on an even keel because most landlords will not pay more for a property if it means that his rental yields won`t pay his costs -- so it would be crazy for a landlord to pay more than a property is actually worth --- if you want to blame anyone for being greedy it is possibly the estate agents and of course the valuers


I bought the properties because I was lucky enough to be able to and yes I was buying for profit however I decided to make sure that I would be a good landlord and not a rogue landlord and lets not forget that the councils have always paid less HB rent than would be achievable from workers


do you make your money by selling goods or services in any way so would you be prepared to work without " lining your own pockets " to some degree ---- will you get out of bed for less than minimum wage because that`s what I am doing until things turn around if ever they do !!!!

ptwparkinson

mjdh1957 wrote: »

You left the Lizard People off your list of those to blame.

I recommend buying a nice tinfoil hat to stop the mind-reading rays.

It has been proven that in 1905 JD Rockefelle was involved in the murder by poisoning of jane Stanford one of the founders of Stanford University because the elite of the time wanted control of that University . What followed on from there was more corruption and deceipt --- too much to mention here -- but relevant because without it the world may have been a much better place .


Now you may be thinking it far fetched --- well a few hundred years ago in this country the Hell Fire Club was active and it was run by the rich and powerful of the time --- Wycombe Church is located above the main chamber which is reached by a series of caves ( I knew Wycombe Church because this is where the Golden Ball was located which was a landmark for myself when I used to go circuit bashing in the circuit when I was doing the private pilots license ) -- they used to take prostitutes dressed as nuns down there for their pleasure and it is said that there were human sacrificies ---- so if the rich and powerful can do this sort of thing ---- tell me they can`t be deliberately screwing all of us little folk ---- I worked on Jim`ll Fix it when i was at the BBC --- i have been in restaurants with Jimmy Saville and the production crew --- we all knew he was relating to young girls but we didn't have a clue about the rest of it ---- he`s not going to be saying over his crème caramel " Guess what I did at Rampton last weekend " --- same with Rolf Harris --- I worked on one of his series and to know him but I would never have even guessed that he was into young women ---- i say this because it is an illustration of what people will do when they have the power !!!
The entire system needs to be changed so that we can give back peoples pride and get them back into good jobs and make sure that our children have a good decent education so that hopefully they won`t end up as statistics on Benefits ---- or we could just employ the doomsday machine and let the ants take over --- they seem to be more industrious !!!!

mynameisdave

ptwparkinson wrote: »

I don`t really see what your problem is

---

go to your local papershop and tell them only to sell 50 newspapers per day because to sell more means that they are making more money than you and it isn`t fair --- go and do the same at your local pub --- tell them not to sell so many pints for the same reason

You anology is horribly confused. Now if somebody went in and bought 50 newspapers that would be different.

people have been saying that buy to let landlords were putting up house prices by buying into the market --- in actual fact most of us have tried to keep house prices on an even keel because most landlords will not pay more for a property if it means that his rental yields won`t pay his costs -- so it would be crazy for a landlord to pay more than a property is actually worth --- if you want to blame anyone for being greedy it is possibly the estate agents and of course the valuers

You wanted to make £1.5m in 12 years by keeping house prices static. And you have a business plan? And no, its still the people buying thinking it is easy money. Just because an agent says it is worth so much doesn't mean you have to pay that much. If they over value it people won't buy it. Simple, really.

ging84

Just so we are clear
anyone who mentions the Iluminati or new world order and claims to have 20 buy to let properties should be taken as about seriously as someone claiming the world is run by lizards (which it is)

ptwparkinson

ging84 wrote: »

Just so we are clear
anyone who mentions the Iluminati or new world order and claims to have 20 buy to let properties should be taken as about seriously as someone claiming the world is run by lizards (which it is)

I have not claimed the world is run by lizards


Yes I do believe that the Iluminati exist --but even if they don`t we are still being controlled by a huge conglomerate who exist way above the banks --- like I have said -- they are the Bilderberg`s and there is no doubt that they exist


It`s all about money and power --- the existing Royal family got where they are through the axe and the sword -- if Lord Stanley had not turned against Richard at the battle of Bosworth there would be a different Royal family in place now !!


New world order --- no --- I didn`t believe this until it was proven to me and from their point of view it makes absolute sense but I still can`t see how they will be able to create one global governing body -- but what I can see is how the conglomerates can control how much money you have left in your pocket after buying the essentials and that is some sort of control in itself -- it means that a vast number of people will end up just plodding on and just existing -- and they are the ones who pay their taxes so that we have a benefits system so it`s not costing the big boys or the government because the taxpayer picks up the bill --- all that I have tried to do is to lift myself out of all of that by making my life self sufficient -- however -- I think I may have failed !!! miserably !!!


CLAIM TO HAVE 20 PROPERTIES --- go and ask my mortgage adviser -- he`ll tell you ( there are currently 45 in the portfolio )


Yes I got into the business to make money but I treat tenants fairly -- in fact we will buy furniture and white goods on e bay for them and only charge them the cost price -- my builder has moved a number of people and their belongings and only charged them for fuel ---- how many landlords out there give this kind of service -- then to be kicked in the teeth


I think maybe there are some jealous people out there on this forum who want to be in my position ---- I would rather have not gone into buy to let in such a big way --- I would have been happier just plodding along driving taxis without a mortgage and selling stuff on e bay because I would have had much less hassle --- but you can`t turn back time and undo everything and so I`ll just have to persevere and at this point I wouldn`t mind if I could just sell the lot for enough to pay back the mortgages and any tax and live a quiet life with just enough to get by !!!!

dominoman

ptwparkinson wrote: »

I think maybe there are some jealous people out there on this forum who want to be in my position

Not me.

In fact I think people here are trying to help. You chose a high risk, high reward business model and it has failed. Now you need to work through the best options to reduce your exposure. Focus on positive actions, not the global conspiracy.

ptwparkinson

The global conspiracy is something else entirely --- it has not helped most of us but if the things which are supposed to happen do happen then I`ll be on completely different roll of the dice and should come out on positive note which will give me more time and more cash to manage the situation better ---- at that point I will be selling off the poor performing properties and there are only 5 of them out of the 20 in the poorer areas and if I owe a balance to the building societies I ll just pay it back and keep going with another couple of different businesses running alongside of this one --- I never ever actually said that 20 of my properties in the area had been burgled and trashed and were not performing --- I never even said that I was not making profits on the rentals --- what I have been trying to say is that the profits have been diminishing --- but when one of the properties is trashed or burgled it takes a lot of expenditure to do the repairs etc
I am taking note of what everyone has been saying but I do think that some people have totally missed the point here -- but never mind


I am holding 300,000 shares in a gold mining company --- the shares were given to me in payment for a documentary that I produced , directed , shot and edited -- so they cost me nothing --- if the company can raise the necessary funding to start developing the more important mining properties within the portfolio and the share prices rise --- well it`s bingo time for me --- however --- not holding my breath on this one -- but you never know what`s around the next corner do you --- fingers crossed and I will keep the forum informed

AdrianC

ptwparkinson wrote: »

I am taking note of what everyone has been saying but I do think that some people have totally missed the point here -- but never mind

I think there's really only one person missing the point, tbh.

I am holding 300,000 shares in a gold mining company --- the shares were given to me in payment for a documentary that I produced , directed , shot and edited -- so they cost me nothing

Were they transferred in lieu of payment...?

bouicca21

!!!!!! stop feeding the troll.

thequant

ptwparkinson wrote: »

I am holding 300,000 shares in a gold mining company --- the shares were given to me in payment for a documentary that I produced , directed , shot and edited --

If you are ever going to make money, whether shooting documentaries or letting out properties.


You really do need to learn scotch mist is not a viable method of payment.