BBC - Rising prices good for majority? Wrong, wrong wrong.

Biggie

Conrad wrote: »

Nollag, I've done well from property but I find your tone unfortunate.

That lady investor last nigh (cross between Mary Poppins and Barbara Cartland) thought she was so clever having £4.2m 'worth' of property and £1m in equity, what a joke! Much of her supposed profit could be wiped out in the blink of an eye. She is not an investor, shes a fool.

Really not difficult to do what she has done as long as you leave the brain at home.

Far better to have say 4 properties with zero mortgage and a net rent of £25000 pa and then use the £25000 +interest to buy another property every 5 years or so.

People like her think they are so smart, when in actual fact she is just a chancer. So much could go wrong for her.

Though I agree that she is talking a huge risk as she has 3.2m in Mortgages
and she should sell some houses to reduce her loan and hence reduce the risk. I think she was quite realistic about the whole thing she did mention it was a long term investment which also had risks in the short term. She also said it wasn't easy.

She put the council guy straight he thought he was on a winner, could just buy a house and sell with a tidy profit just because he has 200k in the account. He gave the impression that houses can only make you rich just because he got a discounted price on a council property in a rough area of London where house prices are now extortianate. It was pure timing that's all....

He's already lost 1k, I wonder how much more he will keep losing, he many was well just goto the casino......

free4440273

^Gold is certainly making a 'comeback' in a Big way. Silver too. But i digress...

Biggie

double post

bukup

Yant1 wrote: »

The next boom is in gold, sell your houses and buy as much as you can.

I spoke to an estate agent only yesterday he said he sold 15 houses yesterday, everyone of them was BTL landlord that are are now buying gold as its the market thats going up and up and up and up.

Long live the gold boom.

and copper and oil......and potatoes !

dannyboycey

Yant1 wrote: »

The next boom is in gold, sell your houses and buy as much as you can.

I spoke to an estate agent only yesterday he said he sold 15 houses yesterday, everyone of them was BTL landlord that are are now buying gold as its the market thats going up and up and up and up.

Long live the gold boom.

This post reminded me of this:

http://www.youtube.com/watch?v=YtJq971LMvk

Watch from 2 mins on :rotfl::rotfl::rotfl:

bukup

dannyboycey wrote: »

This post reminded me of this:

http://www.youtube.com/watch?v=YtJq971LMvk

Watch from 2 mins on :rotfl::rotfl::rotfl:

LOL.....

watch at 1 min 30 secs.....a very young Max who is in Eastenders,

[Deleted User]

Correction biggie, hes lost 30K of as he also bought a dreadful audi TT one of the worst cars you can buy. If he had any sense he would have waited and bought the new skyline GTR being released this year. People who buy german cars are stupid, I bet you he thinks its fast as well.

Yep, although i was joking about the houses, gold is set to go up and up due to demand esp from asia that will be the next superpower and leave america for dust.

Hence why I own mining stocks... CGM, MCR.

Houses are not a investment because on a 150K house with no mortgage you make a better yield by sticking it into a rubbishy but secure and guarenteed savings account. They are deluding tehmselfs. Yes there are banks stupid enough to allow people to build a pyramid selling portfolio, of houses, 19million it was on the show before, guess what the cards were stacked so high they fell over.

Long live supply and demand, fear and greed.

Guy_Montag

What's the current yield on gold, Yant1?

Goldb#ggery is as bad as property ramping. Gold isn't productive, gold mining companies aren't really productive, since they only produce a relatively useless commodity. Invest in something useful.

tr3mor

Yant1 wrote: »

Correction biggie, hes lost 30K of as he also bought a dreadful audi TT one of the worst cars you can buy. If he had any sense he would have waited and bought the new skyline GTR being released this year. People who buy german cars are stupid, I bet you he thinks its fast as well.

To be fair, it was second hand, and he paid £14k for it.

Maybe he doesn't want some Japanese car only made famous because of a Playstation game and some dreadful films about street-racing.

If he wanted a properly fast car he should've got an Ariel Atom. That would leave your Nissan for dust.

pamaris

Guy_Montag wrote: »

What's the current yield on gold, Yant1?

Goldb#ggery is as bad as property ramping. Gold isn't productive, gold mining companies aren't really productive, since they only produce a relatively useless commodity. Invest in something useful.

Agreed. My OH has always wanted to buy gold but I don't see the point, as its value is purely and wholly speculative. It is "worth" a lot because it is shiny. not because it serves a useful purpose.