HPC thread of the week

chucknorris

Crashy_Time wrote: »

Norris has been in the game for a few years too long if that is the norm for sure


Most people I have discussed BTL with thought/hoped they were buying a long term income stream "as their pension"

I always intended, barring disasters to sell up when I was around 65 (so about 33 years later), financial independence was my goal (so yes, that is more or less 'pension' I suppose). I have to say that it really surpassed my wildest expectations, it certainly has provided an extremely good income.

I am now only 8 years away from that age, but I am finding it difficult to convince myself to sell up, because the returns are so much better than anywhere that I could invest the equity (partly to do with having to pay the CGT). I do of course have to sell because we don't have children to leave the property to, and there is significant capital, which will take many years to spend, and because property is illiquid, it needs to be planned and executed, you can't just do it quickly on a whim.

ukcarper

mwpt wrote: »

You ignored all my real points. Oh well.

Welcome to debating with Crashy.

Crashy_Time

mwpt wrote: »

You ignored all my real points. Oh well.

? "Rents and BTL set a floor on prices" seems to be the sum of your "points".....? IMO BTL tax and HB cuts will re-align this floor, and not for the better.

Crashy_Time

chucknorris wrote: »

I always intended, barring disasters to sell up when I was around 65 (so about 33 years later), financial independence was my goal (so yes, that is more or less 'pension' I suppose). I have to say that it really surpassed my wildest expectations, it certainly has provided an extremely good income.

I am now only 8 years away from that age, but I am finding it difficult to convince myself to sell up, because the returns are so much better than anywhere that I could invest the equity (partly to do with having to pay the CGT). I do of course have to sell because we don't have children to leave the property to, and there is significant capital, which will take many years to spend, and because property is illiquid, it needs to be planned and executed, you can't just do it quickly on a whim.

You sound greedy. Why not just live well on the rental income and then leave the property to some younger relatives/people you like/disabled charity or something? You might live to be a hundred, I wouldn`t get too excited about spending the equity just yet if I was you.

Crashy_Time

Crashy_Time wrote: »

You sound greedy. Why not just live well on the rental income and then leave the property to some younger relatives/people you like/disabled charity or something? You might live to be a hundred, I wouldn`t get too excited about spending the equity just yet if I was you.

I should have said "If I was you LADDIE" for better effect...:rotfl:

chucknorris

Crashy_Time wrote: »

You sound greedy. Why not just live well on the rental income and then leave the property to some younger relatives/people you like/disabled charity or something? You might live to be a hundred, I wouldn`t get too excited about spending the equity just yet if I was you.

Yeah, it is easy to give other people's money away isn't it? But I do give quite a bit away annually by direct debit to both the Dog's Trust and The Last Chance Rescue Centre. I also used to volunteer (for years), but I got too busy at work, but after retirement I will volunteer again. What about you? What do you give to charity, money and/or your time?

Greedy? Please explain your approach to investment when it departs from profit?

chucknorris

Crashy_Time wrote: »

I should have said "If I was you LADDIE" for better effect...:rotfl:

Only if you wanted to make a complete fool of yourself, like the last poster did. A rare (me thinks) thanks to you, from me).

mystic_trev

chucknorris wrote: »

What about you? What do you give to charity, money and your time?

Of course he gives to Charity. He pays his Landlords mortgage every month.

wotsthat

chucknorris wrote: »

Yeah, it is easy to give other people's money away isn't it? But I do give quite a bit away annually by direct debit to both the Dog's Trust and The Last Chance Rescue Centre. I also used to volunteer (for years), but I got too busy at work, but after retirement I will volunteer again. What about you? What do you give to charity, money and/or your time?

Greedy? Please explain your approach to investment when it departs from profit?

Crashy does valuable charity work giving free financial advice to millionaires.

TheeMaskedTurnip

Technically you are not debt free if you have to continuously rent somewhere to live, as you'll forever have to pay for shelter. You're only really debt free if you own a house mortgage free.