my buy-to-let dream cost me everything

barrymung

dolce_vita wrote: »

Yeah, she might have found this SHOWER OF !!!!!!

"They must be reputable 'cos they had an advert on the radio, surely?"

LOL! Exactly my point!

btloptingout

Plenty more tales of woe from fools who have parted with borrowed money to fund a "property investment dream"

http://www.youtube.com/watch?v=YMWpnjzIcWo

http://www.youtube.com/watch?v=gtlZZTRKGDc...ated&search

The chickens are starting to come home to roost

nrsql

from the above site:
"it’s true that the risks of increasing interest rates and lowering rental yields means 'amateur hour' in property investing is coming to an end. It is vital that you enter the property buying market by getting the right advice on your investment."

Couldn't agree more - also they don't say that their company is the place to get the "right advice" so can't fault them there either.

dixie_dean_2

jonewer wrote: »

Errr... she was greedy!

She had the £ signs ringing in her eyes like daffy duck in a bugs bunny cartoon... £100,000 for doing nothing! Weh-hey! Ker-ching!

Meanwhile by snapping up 4 properties at inflated prices in addition to her own house, she deprived how many people of a chance to own just one home of their own?

I have no sympathy for her whatsoever and wish her nothing but pain.

Are you for real? You "wish her nothing but pain"? You must be a raving Tory?

fc123

just watched the MRI film..........it's all melting down isn't it?? except the "high flyers" who sold all this stuff are vanishing over the horizon in their big yachts.....leaving the wreckage behind. I remember my father in law geting conned out of £6k on a timeshare years ago..similar scenario.

I've just spent 3 yrs watching Sarah Beeney and feling gutted we couldn't join in the "property developing boom"....now I am quite relieved......incidentally, we know a couple on a good salary but with a good £800k in BTL mortgages bought a year ago......just one little problem could tip the apple cart...dodgy tenant, change in circumstances etc

Lizzy

sadiedoll wrote: »

So, she was a victim? Sorry but her BTL 'dream' is precisely the reason that many young couples/wannabe families can't achieve their own dream i.e. buying a property to live in.

Who did she think she was going to rent to? Young 'professionals'. Did she ask herself why these young professionals weren't able to buy but she was? Did she even care? No.

Please don't ask me to rend my garments and weep bitter tears because she was taken in by Inside Track and the like. She wanted to believe what they were saying, that it was the fast route to easy money. She didn't care at whose expense such profits were made. No such thing as society, you see.

What goes around, comes around.

She never stopped anyone buying them, If people can afford houses/apartments let them buy them, but thats not the case is it.
As for these apartments there are thousands of them around that can't be bought or rented,the market is saturated with them.

I do feel for her because its hard to really find out what is bad. Every sales person selling a property is only going to tell you what you want to hear. Who is really going to tell you the truth ???

I went to see a house the other day to buy for BTL (i know my market) the person who showed me around was a letting agent because the estate agent was busy. He went on to say that he meets people every day who have exicitedly bought a 1 or 2 bed luxury apartment and come to him with the keys to get him to rent it for them. They just can't believe it when he says he won't take it on because he won't be able to rent it.
What a damm shame, I just wonder if that same estate agent may have sold it to them and said it could easily rent out. Who knows !!

Lizzy

dolce_vita wrote: »

Yeah, she might have found this SHOWER OF !!!!!!

What is the goss about these then ??? I get mail from them all the time. I've never actually read any of it because I thought it was something to do with Horse Racing :eek: (inside track)

player

I have no sympathy for her what so ever, people like her have been denying first time buys their own home for the past decade



The last paragraph makes me weep with irony:

'...I can work till I drop, but I'll never own a home,'

Sounds familiar to me 'Anne'.

tonydee

Greedy for wanting to make money???? Surely thats what everyone wants to do?

If property was her venture to make this money, what the hell is wrong with that? It failed for her, like it will for others but for others it's proved very fruitful.

There are some very bitter people on here!

Doc_N

tonydee wrote: »

Greedy for wanting to make money???? Surely thats what everyone wants to do?

If property was her venture to make this money, what the hell is wrong with that? It failed for her, like it will for others but for others it's proved very fruitful.

There are some very bitter people on here!

Maybe that's because these leaches have forced up the prices of smaller properties to such an extent that people's kids, and younger people generally, can no longer afford to buy them.

I think there are a lot of people genuinely delighted that the BTL people are getting their fingers burned at last. Why would anyone have any sympathy for them? They took a risk, and now it's backfiring on them. What a shame.