Media Is Now Predicting A Massive 40% Property Price Crash

chucknorris

bobbymotors wrote: »

while I have nice lot of rent coming in and whilst I am fit and well then I shan't be cashing out, no.

When the point comes I will probably do equity release on them and spen the money on cars, cruises, clothes, and several hookers. At once lol.

What form of equity release? I'm not sure the type that is designed for home owners (staying in the property would suit investment property), so do you mean simply remortgage? That would require an exit strategy, as you will need to think about at what age to do it, not only to be young enough to remortgage, but also young enough to spend the equity, and also try to time the market so you don't end up having to do it during a market correction. That's the sort of thing that I meant by an exit strategy. I don't know how old you are, but my plan was to slowly start to sell up when I reached 60, I'm 59 now, and we have just sold about 30% of our portfolio.

It isn't an easy decision to sell when they offer the best return, but we have a lot of equity, so the process has to start about now, to at least give us the chance (probably unlikely, but a nice problem to have) to spend it, before death.

bobbymotors

Crashy_Time wrote: »

Why do you haunt property forums every day if your life is so sorted?

because I have time as I spend my entire life effectively on holiday, as I managed to retire at 49 due to....property investments....!

How about you? How's the old retirement plan coming along?

noddynoo

bobbymotors wrote: »

while I have nice lot of rent coming in and whilst I am fit and well then I shan't be cashing out, no.

When the point comes I will probably do equity release on them and spen the money on cars, cruises, clothes, and several hookers. At once lol.

Wow people like you really deserve what is coming

bobbymotors

chucknorris wrote: »

What form of equity release? I'm not sure the type that is designed for home owners (staying in the property would suit investment property), so do you mean simply remortgage? That would require an exit strategy, as you will need to think about at what age to do it, not only to be young enough to remortgage, but also young enough to spend the equity, and also try to time the market so you don't end up having to do it during a market correction. That's the sort of thing that I meant by an exit strategy. I don't know how old you are, but my plan was to slowly start to sell up when I reached 60, I'm 59 now, and we have just sold about 30% of our portfolio.

It isn't an easy decision to sell when they offer the best return, but we have a lot of equity, so the process has to start about now, to at least give us the chance (probably unlikely, but a nice problem to have) to spend it, before death.

I will do a homeowners one...by moving into a rental property an declaring it quite truthfully as my residential home.

bobbymotors

noddynoo wrote: »

Wow people like you really deserve what is coming

yet another rent paying crash hoper, convincing nobody that renting is the way forward.

I deserve it all matey. You know f*** all about me, in my day, in my business, I out worked anybody. Graft, and your wits, that's what it takes...I suspect you are somewhat short on both jealous people often are. no one gave me anything.

chucknorris

bobbymotors wrote: »

I will do a homeowners one...by moving into a rental property an declaring it quite truthfully as my residential home.

But that doesn't make sense, you can't live in all your properties at the same time, you can only live in one of them. What about the ones that you do not live in? Please fully explain what you mean.

bobbymotors

Take the equity release, get the money, move out, re let it, move into the next one.

What are they going to do? Not much, that's if they ever find out.

Using a different equity release company each time.

chucknorris

bobbymotors wrote: »

Take the equity release, get the money, move out, re let it, move into the next one.

What are they going to do? Not much, that's if they ever find out.

Using a different equity release company each time.

I think you are on a wind up, you can't (or rather shouldn't) run a business on that basis.

What are they going to do? They would own the property, you would be their tenant, who was illegally sub-letting, they would go to court and sue you, for both possession and any consequential loss and expense.

noddynoo

bobbymotors wrote: »

yet another rent paying crash hoper, convincing nobody that renting is the way forward.

I deserve it all matey. You know f*** all about me, in my day, in my business, I out worked anybody. Graft, and your wits, that's what it takes...I suspect you are somewhat short on both jealous people often are. no one gave

carrer in comedy when you've finished with proberdee

Thrugelmir

bobbymotors wrote: »

Take the equity release, get the money, move out, re let it, move into the next one.

What are they going to do? Not much, that's if they ever find out.

Using a different equity release company each time.

I hope the early retirement was worth it in the end. As doesn't sound as if you've planned for the future very well.