2 days away from exchage

MissMoneypenny

Doozergirl wrote: »

I'm assuming you're not telling me to give people money?

Exactly the point I was making to you. I'm not telling you to give people money. House letting and house buying is a business not a charity.

You want to buy a house as cheap as possible and charge your tenant as much as possible to maximize your profits. I think it was also you(?) who has been quick to rush around and buy cheap properties to do up and sell when the market was rising. Properties that might have been in FTBs range in the poor state they were and you beat them to buying it, for your profit. I am not saying that either of these things are wrong, but some might think you are taking advantage and don't have integrity. Now here you are telling the OP to give his vendor money in a falling market and then accusing him of a lack of integrity. You can't have it both ways.

caveatvenditor

alidai wrote: »

You havent a clue about my situation, and equally the size of deposit that i've paid!!

And where would my deposit be dissapearing to then eh? My house will still be there.

I'd hate to feel trapped in a house, what a nightmare that would be.........oh wait, i've actually researched the area that my house is in, and also love the house too so unless i have a mental breakdown in the next 5-10 years, it's very unlikely i'm going to feel "trapped":D

You are drawing some truly idiotic parallels between yours and zammos circumstances. You obviously can't understand the implications of his situation.

ivavoucher

Zammo wrote: »

What would you fellow MSEers do in my situation, bearing in mind I have no dependants and can quite happily rent for another few years?

From humble answer seeker to expert in one forum thread, interesting!

Zammo wrote: »

You call it "stomach" to go ahead and buy during the longest sustained drop in prices in 12 years. I call it "stupidity".

Doozergirl

No, it wasn't me running around buying up houses when prices were rising - they have barely risen here in 3 and a half years which is only slightly less than the time we've been trading rather than trading up. I have never bought a property that would have otherwise have been available to a FTB.

The properties we buy are in the vast majority unmortgageable and we've taken the risk and fixed the problems that make them that way, putting stock back into the market.

Zammo, I really can't be clueless if our company can support a family of four with a very flexible lifestyle. And no, I'm not gloating at all. You're just very wrong. And if you wanted to show yourself as having integrity - you've failed miserably by the constant barage of insults you've thrown at me. I've at the very least tried to explain my reasons.

End of.

MissMoneypenny

worrypants wrote: »

me thinks op is somewhat bitter
having taken 4 years to buy:eek: ( ive bought and sold 4 times in 4 years) he realises if had played the market well , been prepared to move around the country as I have, bought at the right time in cheapest areas wait for thre price to rise then sell then move on to another cheap area.

He would now be in a postion of being mortgage ( or almost) free:rotfl: or sitting on a nice fat wadge:T

I sold in Hampshire, wiltshire, south wales:rolleyes: cumbria and now selling in the north east and north london in the last 6 years and touch wood ive made no errors yet:cool:

youve missed the boat matey boy

So how did you have time to do that in the last four years and work in your pub for 2 years (that you only sold last year)? "We worked 7 days a week 365 days a year and put in a minimum of 16 hours a day
we did not make a penny imagine that for a 112 hour week 7 days a week!!"
http://forums.moneysavingexpert.com/showthread.html?p=6818980#post6818980

andyyorks

Having read this quite amusing thread it seems to me that the OP is just a little bitter about things given a couple of contradictions in his arguments. He had the opportunity to buy 4 years ago and didn't but then he criticises others who did for earning money in a rising market. They just had the guts/greater knowledge of the house market or economics to do it back then.

He then criticises others about buying when the 'economics' said not to, and then went to buy this past August when the economic conditions were far worse than 4 years ago.

Also, although he maybe has owned a home, he has very little knowledge of carefully buying a 'home', which if he'd done 4 years ago, he wouldn't be in the situation he is now.

Life's full of missed opportunities and there's not one person around here who hasn't done things in the past they regret, but it would be better if you didn't take your frustrations out on others.

worrypants

missmoneypenny

it was very easy

we flipped property very quickly we didnt buy anything but new build apart from the pub which was 600 years old:D

we lived in all of the properties not BTL or anything we had no other homes and apart from now we only ever had one property at one time

despite the pub being a nightmare we did own it freehold and only due to general property price increases we very fortunatley did make money on the sale ( but not on the business as such)

Husband was working abroad and I wasnt fussed where I lived so it was no hardship to uproot frequently the length and breadth of the UK ( no dependants and not tied to an employer)

certainly no regrets along the way although not a venture I would consider in the current climate

fingers crossed for our 2 current sales ( one a new build one 1960's)and we shall then be on our way to live in Canada and retirement

We did nothing to any of the properties and didnt spend a penny on them sucess was down to luck and very careful research into top quality homes in low cost areas that at that time could only skyrocket in value and they did.

We lived in each of the properties as homes so if I had got my research wrong it would not have really mattered.

Would be nice now to put down some roots for a while otherwise I might be tempted to go global:rotfl: eg buy in cheaper areas around the world live there and move on as value increases.

worrypants

in hindsight would not have boguht the pub but not for financial reasons

purely because the lifestlye is a living hell:eek:

we actually had to WORK in this one unlike domestic property ownership

where over the last 10 years you could just sit back on your sofa on a diet of daytime tele and cake and and your property would rise in saleable value by a 3 figure sum on a daily basis ( if you bought at low cost in roketing value areas)

as I said we did make a huge profit but purely down to luck and property value increase in the space of 18 months

reformedEffortMaker_2

looks like the original subject of this thread has become contagious
http://forums.moneysavingexpert.com/showthread.html?t=623759

emjga

I take it you do not live in Scotland

If you did once the misives are done (which take a week)
The property is yours and you can not drop out.
Unless there is very good legal reason's e.g you have been refused a mortage