Selling a house quickly

hev_2

I don't understand how the OP breached the terms and conditions.

What am I missing

maryotuam

What's the point in making loads of money when it means you have to be away from home so much? You also don't seem to need it, if you're not addicted to having a lavish lifestyle.
I do believe you are right in that house prices will rise over a 20 year period but for the next 3 years or so they will drop. For the Average Joe, who can afford at most one mortgage, it would make sense to wait because they will end up paying back a smaller mortgage.

guppy

IanRR wrote: »

OK, last post, and then I am going.

Before you go, could you just answer my question?

Which government source says average house prices only fell by an average of 3.7% during the last crash?

Your ideas are fascinating, and I for one would love to hear more, but your failure to back up your claims with any hard evidence makes me question your credibility.

Loose_Cannon

hev wrote: »

I don't understand how the OP breached the terms and conditions.

What am I missing

Whatever you're missing, I'm missing it too. It looked like a fairly innocent question to me. Can we get an explanation?

hoggums

IanRR wrote: »

OK, last post, and then I am going.

I came on, to give you an expert opinion and to save you money. But if you prefer to keep sniping, you go your way, and I will go mine. I have developed a system, which allows me a lifestyle, which most people can only dream of. It is bullet proof, but only once you KNOW what you are doing. I started off as a complete amateur. I made money, almost by accident (which is what anyone who has owned property, has done).

I then read the book, that I have referred to. Here is the link, if you are open minded enough to spend 20 quid, to learn from an absolute expert- www.andysbook.com Then I started to REALLY understand. Then I got rich. It wasnt because I was clever. It wasnt because I wanted to take 3-4 cruises a year. It was because I had learned everything an expert could teach me. That same expert, is available to everyone here. Up to you...

But let me just ask you this, before I leave you to decide whether to be open minded, or listen to the doom mongers..... Do you think that the analysts at Merrill Lynch are any good? They have just about managed to close Merrill Lynch down. Great analysts, eh? If they were any good, they would have analysed the markets a lot better, and recommended actions to avoid the mayhem they now find themselves in.

Do you really think that we are in the middle of a meltdown? Or is it a blip? We live on an island. Its an island where we already have insufficient housing for our needs. We are building around 100 houses a day, less than we need, for the population growth. Persimmon sent 1100 workers home today, because they cannot sell their over priced new build homes, and lenders and purchasers, have finally woken up to the fact that they are 30% dearer than they should be. So our housing shortage is getting worse by the day. What does a shortage of anything do to its price?

What are the 3 essentials of life (apart from water and air!)? Oil (for power needs), food, and HOUSING!

Which is the only one of the 3, that has stopped rising, for now?

So what do you think will happen, soon?

I predict a far bigger housing bubble, than we have ever seen before. We will laugh at how cheap property was in 2008. Do you remember 1990? My house was worth about a quarter of todays value. But prices were going to crash! Oh yeah, they did... Some crash. It took forever for them to recover, didnt it? A mere 18 years on, and it is worth 4 times as much. But IF I had listened to popular opinion then, I would have sold up, and taken my money, and lived in a tent. The same thing is happening now.....

The unwise will keep listening to your "popular" opinions. It somehow makes them comfortable....

Everything that I have mentioned in my posts, is available to you. I forget all the precise reference points, but have a good search on hm.gov sites, it is all there for you. Even there, you will find a very conservative estimate, that house prices will rise at 7.5% per annum, until 2020. Now, if they are predicting that, and they are not rising at the moment (even though they are still not falling, unless you listen to the Nationwide!), just imagine where they will be heading next!

Some of you, may own one house. A few of you, may own 2 or 3. I am not going to tell you how many I own. But, I will own a great deal more, by the end of this tiny blip. Am I bothered by this crisis? You guess! And if I am not bothered, why on earth not?

I have no vested interest in the book. I have never even met, or talked to, the guy who wrote it. But he really understands the subject. Thanks to Andy Shaw, I have more money than I ever dreamed of. I was a bus driver once, earning a living, and struggling to make ends meet. I still dont spend my money on many self indulgent things. I live in a 3 bed semi, and drive an 8 year old car, with 275000 on the clock. None of my neighbours have a clue about what I do. But I guess they do wonder why I am always away from home! Last week, I bought a house in Doncaster, that I have never even seen.

Oh, and my bank managers make appointments to see me, at my house!
What I can assure you all, is that I know what I am doing. My little business is entirely bullet proof. I know, because I always play very safe in what I do. No idle speculation. No risk taking. If house prices did drop by 95%, I would have no problems at all. I would still buy them!

If you can remember nothing else. Remember this.... 3 ESSENTIALS. Oil, Food, and Housing. And if you are still struggling, remember what your Dad told you..... "If you ever get any money, put it into bricks and mortar"

"SAFE AS HOUSES, MY SON!!!!!!"

They keep predicting armageddon in the housing markets, but it just aint happening. New build flats, and Northern Ireland should be avoided though. Use the senses that you have been given. Go on a property website. Are the houses and flats worth less now, than 10 years ago? 5 years ago? OK, last month? NO! But its going to happen, isnt it? If you believe it, then sell up, and move to Bulgaria. But dont try coming back in ten years time. You wont be able to afford to.... 1990 all over again.

Its been fun folks. I will return to read any responses, but I dont enjoy the snipes, from a few of you. If just one person decides to take my advice, and gets to retire financially free, then I will have felt it worthwhile. To the rest of you, GOOD LUCK.

DONT WAIT TO BUY PROPERTY, BUY PROPERTY, AND WAIT. Remember who told you this, in 20 years time. You will either still be dangling over the pit of doom, or enjoying life. Make a note of todays date, and the average price of a 3 bed semi. Take a look again in 20 years..... Make your choice folks......... and be happy with that decision! But dont keep knocking an expert, who cant punctuate, but has made more money, and continues to make more money, every year, than most people earn in several lifetimes. Thats not a boast, or arrogance, by the way. If you met me, you would probably call me a nice, unassuming bloke! As I said before, its all about perceptions.......

Well I wish you look and I hope you have sufficient equity in your property to survive the downturn.

But it's not free money. You have to pay interest on it - which means you need those properties tenanted. You are also ignoring fundamentals, and that is what's affordable. You cannot price a house at 2007 levels if people can't borrow and afford the interest payments. So your argument about housing shortages doesn't wash - the prices can only go up to what people can afford to pay - no more. It doesn't matter if there are 50 buyers trying to buy a house - if they can't afford it - then it won't get sold.

The way I see it - house prices will come down low enough to entice the buyers into the market again. But people in your position will not be able to expand your portfolio because of stricter lending criteria and potential negative equity, your properties will not have enough equity in them to withdraw. So rental properties will empty, driving rents down leaving the highly leveraged interest only brigade in serious financial difficulties.

I'm not saying that property is a bad investment - just not right now. I think you should include property in a diversified portfolio so you are not overexposed to drops in any particular asset.

And telling people it's free money is wholly irresponsible. A housse is a leveraged product, and as such carries a risk. That risk is negative equity and being unable to meet the interest payments. People should focus on these risks before ploughing headlong into the property market.

And lastly your statement No risk taking. If house prices did drop by 95%, I would have no problems at all. I would still buy them! concerns me greatly - because I think it just goes to show how naive you are.

If house prices did drop by 95% - why on earth would your tenants pay the rents you are getting now? They wouldn't - they would leave and buy a property of their own. Which means you would need to reduce your rents considerably. So could you continue to make interest payments if your rents reduced by 50%? I don't know - but I seriously doubt it. So saying it's risk free is nonsense.

bubblesmoney

hi IanRR

everyone is entitled to their opinion in these matters. u r entitled to yours. in any forum not just MSE there will be discussions and a bit of snipes. part of life. it is to be expected that contrarian views like yours get opposed by quite a few, only natural that many disagree. no disrespect meant to ur views. i find ur views interesting but dont subscribe to it.

there is nothing to be got for free. money doesnt grow on trees. no one can use other peoples money (mortgages) and think they get the house for free. everything comes at a price. each one decides what price is acceptable to them. each persons purse, intentions, abilities, energy, responsiblities are different. so each person does what they think is best for them.

a person might be a FTB in the uk but might be higher up the chain elsewhere. if u look at the property prices in some emerging markets big cities and see what their prices were 5-10y ago u would realise what profit making in property is and i dont mean profit of 7.5% a year neither do i mean 50% i mean a lot more . i dont know u and neither do u know me. so before one (u and me including) makes assumptions of what other peoples 'monetary situation' is and pontificate, its best to take a deep breath, take a step back and relax. u r speaking of 7.5% growth in land in uk but maybe people are investing elsewhere and making 30 times the money in less than 10y (guarantee that wouldnt have been in the uk, will have to be the emerging markets, NO RISK NO GAIN eg. even if u see the share index of some emerging markets it is even now 150-200% higher than a few years ago and that value is after a huge crash;) , however if u look at some individual shares then the profit has been even higher and longterm i.e. over 2y capital gains in shares in many countries gets the lowest tax bracket;) , not to mention benefits of taxation agreements between various countries (bilateral) etc so provided ones circumstances allows them to utilise those benefits then people can and do make a good deal).

land is just another form of investment. In any investment u win some u lose some but overall if u make a decent profit one has then done well. (i wont even squak on currency markets or commodities markets, highly risky with people losing their lives saving in a few foolish moves but on the other hand i do personally know others who make a handsome living on that since decades and i dont mean just bank managers coming home, i mean people being offered top positions in international multilateral finance organisations and international g8 govt representatives landing at their home for 'info and to discuss' etc). as long as one has a good place to live, it doesnt matter where one invests the rest of their investments. each one decides what suits them best according to their 'stages' in life and aspirations and risk profile.

not everyone desires being endlessly in the pursuit of multiplying their money at the cost of family life. at the end when its time to die i know what i (and most people i think) would miss and it certainly wont be money.

there will always be good deals as long as one chooses wisely in a booming or a falling market in any commodity be it shares, property, or commodities markets . last but not the least even i am looking to buy now if there is a good opening. the only reason i posted a response to ur post is that i didnt agree with a jingoistic view on property in the current climate. (thats the view i got from ur replies even if that wasnt ur intention). i am no expert in the above mentioned matters, infact am a novice :rotfl:but have had the good fortune at times of pointers and help from knowledgable people which helped me sometimes and sometimes been plain damn lucky. touchwood. time for a coffee break for me and buy a lottery ticket! i know i know i know the odds but stupidity and old habits die hard, just cant resist them.

apologies to all for mentioning other things that dont answer the OPs queries:A , but this was in response to IanRR's post. best wishes

puddy

IanRR wrote: »

I am sad that you find my view funny. But uninformed I am certainly not. I am a leading BTL investor,and a complete expert at this business. I understand that there are lots of people, like yourself, who have genuine reasons to sell. My point was to stop others from making the serious mistake of selling, if they do not need to. You certainly CAN take most of the equity out of your property by not selling it, but only when you understand how. You will certainly make far more money, by retaining your asset, than by selling it. The most inspirational book on the subject is written by a guy named Andy Shaw. I suggest anyone interested in this does a search on this guy, and spends the best 20 quid of their life, on his book. I did, and it has completely changed my life.

Sadly, you are not prepared to sell at an unrealistic price, and with so many others out there that will, this is the best time I have ever enjoyed in property. I wish you all the luck in the world - genuinely.

the reviews on amazon are polarised. when i see really really over enthusiastic reviews all giving 5 and then see the rest being more down to earth giving much lower marks, i think that the positive reviews are all written by friends and family, the 'real' reviewers dont seem to rate him much

Edinburghlass_2

Loose_Cannon wrote: »

Whatever you're missing, I'm missing it too. It looked like a fairly innocent question to me. Can we get an explanation?

It appears that someone has the wrong end of the stick due to the possible deletion of a spam post AFTER the OP, as you say the OP has done nothing against any MSE rules.

I'll get abuse to check the thread out

Night-owl_6

IanRR is posting comments that are promoting a service, believed to be a kitchen company.

Edinburghlass_2

ellielou wrote: »

Hi

My partner and I are moving extending my property so he can move into mine. After the extension is finished we want his to be gone............. sold!

He bought it from his mum & dad several years ago & has basically done nothing to it since - it's slightly dated - green bathroom suite, old fashioned fitted wardrobes & kitchen with a dreaded serving hatch through to the dining room. However, it does have a fantastic garden, not overlooked & a lovely paved drive, with parking for around 3 or 4 cars.

His next door neighbours went up for sale a month ago for £165k & looking at the pictures it's as old fashioned as his, but they're not after a quick sale.

The estate agent has said he has almost 700 properties on the market in the the area & the older houses aren't selling too well due to the number of new properties being built. We're not desperate to sell as we can afford both mortgages but it would just make life so much easier if we can get rid sooner rather than later.

We were considering selling it at auction but we don't have any experience or knowledge of the process to know if this is going to be a good or bad option. So any advice would be greatly appreciated.

It's a 3 bedroom semi with garage in the NW, I forgot to mention that earlier.

Many thanks for reading x

This is the OP, can you explain where there is a service or product in this post