Thinking of Buy to Let

SouthCoast

who do you think is going to rent your house?

I understand that there is very strong demand from EU economic immigrants in North Wales.

poppy10_2

SouthCoast wrote: »

I understand that there is very strong demand from EU economic immigrants in North Wales.

And what will happen to the supply of those economic immigrants when our economy goes into recession, as widely predicted?

BTman

mikeopvc wrote: »

Thanks BTman but I can't help thinking that there is a hint of sarcasm in your quote, forgive me if I'm wrong. Perhaps an explanation of why you think there's never been a better time to get into BTL, especially since the final statement in the recent Panorama programme http://news.bbc.co.uk/player/nol/newsid_7220000/newsid_7228100/7228134.stm?bw=bb&mp=wm&news=1&bbcws=1 was that some experts are predicting a 35% price drop in properties in the next 5 years

Sorry, I was just taking the !!!! ..
Do you think it's a good time to be getting into BTL? I personally don't think there could be a worse time, hence my sarcastic post.
I think your money would lose less in the bank and/or in a varied stock portfolio, but that's my opinion and may well prove to be wrong.;)

sarkin

Sapphire wrote: »

I can't believe that someone can be giving out such advice at this time, when the signs are that there is going to be a not inconsiderable crash and that people are over-borrowed to a massive extent! :rolleyes:

The suggestion to 'just remortgage your house for the deposit', thus taking on a large debt at an uncertain time for the economy, is plain irresponsible. And to suggest that the best type of property is newbuild flats is equally staggering.

Do you have a vested interested interest in this area that encourages you come up with these suggestions? :cool:

It was a joke but it must have gone over your head.

Sapphire

sarkin wrote: »

It was a joke but it must have gone over your head.

Oops - sorry, it did! Perhaps it should have been shaded a bit more as a yoke? :rotfl:

poppy10_2

Yeah, I thought you were being serious too, sarkin.

Curious_Moose

Would you spend 100K on shares in one company that paid a negative dividend in the hope the share price might go up?

RecoveringAlcoholic

But we all have - Northern Rock!

HammersFan

There are some people who will be worried that prices are going to drop a lot. You could capitalise on that uncertainty by going in with a low offer and get a good deal. It may be that some of that uncertainty will dissapate over the coming months if we get lower interest rates - and such buying opportunities may not be there unless there are a lot of distressed sellers (i.e. a recession). As with others - this is just my view - but I think its possible to get a good buy at any time. Just as there is risk in buying now, I think there is some risk in waiting too.

Tassotti

Do NOT ever buy a new-build!!

The property market is best left to the professionals at this time..Gone are the days when amateurs can make money. They are actually losing a lot of money...

Mind you good for us professionals as we'll snap them off you for well BMV..

Put your money in something else...