Bear Hug Posted May 18, 2017 Share Posted May 18, 2017 (edited) On a bright side - I can see why he is not worried about the capital gains tax! Guess his fund-raising for the next book: "Advantages of going bust in Malta" will start any time now. Edited May 18, 2017 by Bear Hug Quote Link to comment Share on other sites More sharing options...
Venger Posted May 19, 2017 Share Posted May 19, 2017 1 hour ago, Bear Hug said: I wonder what yield £200 rent would give. Note how selling is not even considered as an option. I blame this on Busta himself. If the block was full of homeowners, they would have made some effort to deal with the problem. As tenants, they can just leave and move elsewhere. ........ The problem is that druggies keep breaking into the secure communal areas and trashing the place. They are the worst kind, young ‘hoodies’ taking heroin so discarded needles are common place. The freeholders are now refusing to mend the doors, smoke alarms and clear up their filth. ..... Any other thoughts and suggestions? Thanks in advance Quote CF: What about the communal door. Can you buy a stronger door and give FOBS to all residents? --------------------- MA118: Already done but it got kicked in! --------------------- MB: CCTV? Private security? --------------------- MA118: CCTV cameras were stolen! --------------------- DP: As to Charles’ suggestion concerning a stronger door, I have installed a stainless steel door (£6,000) with electronic control. It would be easier to get through the wall than to enter without a key. The druggies still get in. -------------------- DP: Airlock doors may be the answer but they must be tough and with space for only one person. -------------------- MA118: Nightmare for old people, wheelchairs and pushchairs. Forget the door idea. Airlocks lol ?! Do such door-ways really exist? I thought DP was joking but MA118 taken him seriously it seems... BTLers have some imagination to protect the mad-gainz and rental streams. Whatever next would they like to get away with...? Quote Link to comment Share on other sites More sharing options...
Blod Posted May 19, 2017 Share Posted May 19, 2017 With a few more 'investment' like this he might be able to put his capital gains tax problems aside but the losted equity will have to hurt the LTV of portfolio. Interesting that he feels he can post details like this and expect that his lender to turn a blind eye. I wonder who holds charges against those properties? Quote Link to comment Share on other sites More sharing options...
bobbo Posted May 19, 2017 Share Posted May 19, 2017 Sounds like a investment he should be thinking of walking away from to me. Maybe there is a consolidation clause preventing him from doing so...? Quote Link to comment Share on other sites More sharing options...
Lavalas Posted May 19, 2017 Share Posted May 19, 2017 It's ever staggering stuff from 118. The latest suggestion with some acceptance from Busta that it's a reasonable idea is to contact the police and see if a few policeman would like to rent the place cheap for a few months to sort it out. Like the police give a sh*t about protecting your investment, like they they haven't got anything better to do than speak to a landlord about it, like policeman haven't got a life of their own to lead or that even if they were just sitting around waiting for the opportunity to move into a crap house that they would be inclined or allowed to indulge in some off duty vigilante behaviour in order to sort out these 'druggies'. Deluded entitled t*ssers. It beggars belief. Maybe if people had a stake in their community instead of it being ruined by these morons then it might not be such a problem. Get f*cked Quote Link to comment Share on other sites More sharing options...
spyguy Posted May 19, 2017 Share Posted May 19, 2017 6 minutes ago, Lavalas said: It's ever staggering stuff from 118. The latest suggestion with some acceptance from Busta that it's a reasonable idea is to contact the police and see if a few policeman would like to rent the place cheap for a few months to sort it out. Like the police give a sh*t about protecting your investment, like they they haven't got anything better to do than speak to a landlord about it, like policeman haven't got a life of their own to lead or that even if they were just sitting around waiting for the opportunity to move into a crap house that they would be inclined or allowed to indulge in some off duty vigilante behaviour in order to sort out these 'druggies'. Deluded entitled t*ssers. It beggars belief. Maybe if people had a stake in their community instead of it being ruined by these morons then it might not be such a problem. Get f*cked If you were a copper then would probably not want to live over the shop, so to speak. Again he problem with simple turkey pluckers from Norfolk, and naice people from Surrey buying up slum places in the the North is that there is lots of social housing. The private sector soclail LL gets the people the council/LHA dont want. Quote Link to comment Share on other sites More sharing options...
Lavalas Posted May 19, 2017 Share Posted May 19, 2017 Exactly - if you want a stake in this community then get your fat ar*e over from Malta and sort it out instead of wasting people's time with your 'problems'. You make your choices. Although I wouldn't want these people hanging around my communal spaces that's for sure... or the druggies come to think of it. Ho ho ho. Quote Link to comment Share on other sites More sharing options...
janch Posted May 19, 2017 Share Posted May 19, 2017 I've just sold a new build house which was a good little house and suited me fine but what I hadn't bargained for was the way the place was going downhill fast mainly as there were quite a few BTLs with dubious tenants in them. The management committee are key here and were pretty lax and useless in my case. It needs a zero tolerance stance towards anti-social behaviour/litter/parking issues otherwise the lowest common denominator wins out. I've learnt a valuable lesson which is watch out who your neighbours are and if you buy a new build you have no say on who you might have to put up with. Quote Link to comment Share on other sites More sharing options...
Shy Ted Posted May 19, 2017 Share Posted May 19, 2017 Lies, damn lies and moneywise btl articles. Some rubbish analysis here: http://www.moneywise.co.uk/news/2017-05-19/buy-to-let-still-popular-among-moneywise-users-despite-tax-hikes 'Just 3% of buy to let landlords who voted in our poll said they’ve sold or are in the process of selling all their properties' 59% of the respondents were not btl landlords. Therefore looks like 22% have sold or are planning to! Quote Link to comment Share on other sites More sharing options...
Pop321 Posted May 19, 2017 Share Posted May 19, 2017 On 18 May 2017 at 11:10 AM, Byron said: I don't suppose that is exactly a 'hatchet' job. If you hoover up scarce resources, apparently make a mint, or at least publicly boast about doing so, then you can expect the limelight to be turned on you. Problem with limelight is that its intensity reveals all the ugly bits. Remember, BTL has been around for ages. At first it was only the young would be OOs that were affected, but now they have grown older and been promoted. Now they are becoming very influential people. And they've got a limelight lamp. Tough ain't it! It's a really good point. The shift in power is inevitable and it won't just be housing. I am no boomer but I am on the shirt tails of them. And as an 'all powerful upper management employee' aged just shy of 50, I have absolutely no doubt where the influence is shifting. Those spotty 'early twenty-year-olds' moaning about renting and student loans are now in their early 30's and are catching me up, and those in the mid 30's are starting to rub shoulders with me....indeed my boss is early 40's. I don't want to create a generation divide debate....only to state that in another 5 years time the influence will absolutely be in the hands of that younger generation and in 10 years time generation rent will be in power. I appreciate priveledge will prevail in many cases but even so the most influential will have had friends who are renting and who struggled. At that point HPC will hopefully be readily embraced rather than feared and protected from like today. Hoping for a crash before then of course. Quote Link to comment Share on other sites More sharing options...
Pop321 Posted May 19, 2017 Share Posted May 19, 2017 6 hours ago, Lavalas said: It's ever staggering stuff from 118. The latest suggestion with some acceptance from Busta that it's a reasonable idea is to contact the police and see if a few policeman would like to rent the place cheap for a few months to sort it out. Like the police give a sh*t about protecting your investment, like they they haven't got anything better to do than speak to a landlord about it, like policeman haven't got a life of their own to lead or that even if they were just sitting around waiting for the opportunity to move into a crap house that they would be inclined or allowed to indulge in some off duty vigilante behaviour in order to sort out these 'druggies'. Deluded entitled t*ssers. It beggars belief. Maybe if people had a stake in their community instead of it being ruined by these morons then it might not be such a problem. Get f*cked +1 Dear policeman. Put your job and decent salary at risk to save yourself about £200 p/m (£2400 total) ps to save this money you need to live in a craphole and beat up drug dealers for a year. Its ridiculous....maybe Busta will fly over from Malta and move an old fridge for me. There's £20 in it for him. Why wouldn't he? It's something I need someone to do, so it MUST be something he will want to do....that's how it works when you look at the world through just one viewpoint The prices later in the thread tell me everything I need to know about the area. £450 p/m because that's what the social pay....without it the market rent would be much less. Anecdotal I know but I once asked a friend who lived in a similar area what type of price the houses went for - he honestly said...."you don't buy houses round here.....you just take them". Quote Link to comment Share on other sites More sharing options...
Byron Posted May 19, 2017 Share Posted May 19, 2017 (edited) 39 minutes ago, Phil321 said: +1 Dear policeman. Put your job and decent salary at risk to save yourself about £200 p/m (£2400 total) ps to save this money you need to live in a craphole and beat up drug dealers for a year. Its ridiculous....maybe Busta will fly over from Malta and move an old fridge for me. There's £20 in it for him. Why wouldn't he? It's something I need someone to do, so it MUST be something he will want to do....that's how it works when you look at the world through just one viewpoint The prices later in the thread tell me everything I need to know about the area. £450 p/m because that's what the social pay....without it the market rent would be much less. Anecdotal I know but I once asked a friend who lived in a similar area what type of price the houses went for - he honestly said...."you don't buy houses round here.....you just take them". Sad to say, Quite a few Police Officers are Landlords. They are not allowed to have a business interest, but nothing can be done about their wives having one. Edited May 19, 2017 by Byron Quote Link to comment Share on other sites More sharing options...
mrtickle Posted May 19, 2017 Share Posted May 19, 2017 35 minutes ago, Byron said: Sad to say, Quite a few Police Officers are Landlords. They are not allowed to have a business interest, but nothing can be done about their wives having one. Maybe Section 24 will help put this right. Quote Link to comment Share on other sites More sharing options...
disenfranchised Posted May 19, 2017 Share Posted May 19, 2017 38 minutes ago, Byron said: Sad to say, Quite a few Police Officers are Landlords. They are not allowed to have a business interest, but nothing can be done about their wives having one. Yes they are. But, they have to declare it. And, they have to ensure they are not going anywhere near implying their business is good because they are a cop - ie no selling burglar alarms in uniform Quote Link to comment Share on other sites More sharing options...
spyguy Posted May 19, 2017 Share Posted May 19, 2017 (edited) 33 minutes ago, disenfranchised said: Yes they are. But, they have to declare it. And, they have to ensure they are not going anywhere near implying their business is good because they are a cop - ie no selling burglar alarms in uniform Do coppers still get the sack if they are bankrupt? Edited May 19, 2017 by spyguy Quote Link to comment Share on other sites More sharing options...
Byron Posted May 19, 2017 Share Posted May 19, 2017 15 minutes ago, spyguy said: Do coppers still get the sack if they are bankrupt? Why? Do you know something that we don't? Quote Link to comment Share on other sites More sharing options...
spyguy Posted May 19, 2017 Share Posted May 19, 2017 5 minutes ago, Byron said: Why? Do you know something that we don't? They used to have to resign. They dont now, provifing they declare it yo yheir professional conduct team. Solicitors and like are in shit. Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted May 20, 2017 Share Posted May 20, 2017 According to the economics masterminds at PovertyLater, they're going to deal with section 24 by putting the rents up. The whole of the Philip Adrick piece from which the following quote is drawn (What Britain needs is either massive wage inflation or a debt clearout, The Times, 20 May 2017) is worth a read, but this bit is particularly eye-catching Quote Most of those in trouble are under 40 and living in private rented homes. They are Britain’s hidden working underclass, living hand-to-mouth with no capital to fall back on. Nearly nine million resorted to credit to pay for household expenses last year and six million, with no savings, borrow to cope with income shocks. It’s no coincidence that debt problems have mushroomed as consumer credit grew at 10 per cent a year, the fastest in more than a decade. Over-leveraged landlords with tenants who are hanging on by the skin of their teeth. What could possibly go wrong. Quote Link to comment Share on other sites More sharing options...
monkeyman1974 Posted May 21, 2017 Share Posted May 21, 2017 On 19/05/2017 at 8:13 PM, Phil321 said: +1 Dear policeman. Put your job and decent salary at risk to save yourself about £200 p/m (£2400 total) ps to save this money you need to live in a craphole and beat up drug dealers for a year. and when you've succeeded in this, I'll jack the rents up to the maximum LHA again. Quote Link to comment Share on other sites More sharing options...
chicker Posted May 21, 2017 Share Posted May 21, 2017 Busta somehow thinks his predicament can be solved with tactics from a primary school playground . Draft in cops and rugby players with the reward of a cheap flat ! ? These druggies are connected (maybe by default) to organised crime and drug criminals have guns and knives and are prepared to use . I dont envy the his or the other residents situation but to move the druggies on will require a far better plan of action than the one he has . It could take months and it looks like only committed owner occupiers would have the incentive to save their homes and make their environment safe. Absentee landlords are the worst when a problemm occurs . He has no allies - stick it in the next auction Busta and accept the peanuts you will get. Quote Link to comment Share on other sites More sharing options...
Ah-so Posted May 21, 2017 Share Posted May 21, 2017 7 minutes ago, chicker said: Busta somehow thinks his predicament can be solved with tactics from a primary school playground . Draft in cops and rugby players with the reward of a cheap flat ! ? These druggies are connected (maybe by default) to organised crime and drug criminals have guns and knives and are prepared to use . I dont envy the his or the other residents situation but to move the druggies on will require a far better plan of action than the one he has . It could take months and it looks like only committed owner occupiers would have the incentive to save their homes and make their environment safe. Absentee landlords are the worst when a problemm occurs . He has no allies - stick it in the next auction Busta and accept the peanuts you will get. If the solution to problem neighbourhoods was as easy as this, then urban crime would have been all but eradicated by now. At least Busta will not need to worry about CGT on this particular property. Quote Link to comment Share on other sites More sharing options...
Toast Posted May 21, 2017 Share Posted May 21, 2017 I don't think this is an entirely unreasonable plan: he is essentially trying to hire a security guard, which might be effective. After all, he is only trying to move the problem somewhere else, rather than stop the anti-social behaviour. I think he's just under-estimating the cost. Assuming (and I have no idea) someone is willing to do part-time security for £200 a month, he is ignoring the fact he is also asking them to live in an awful, crime-infested dump, and he will need to cut the rent for that too. I am guessing here, but I think that if he's lucky, he would be able to pursuade the right person to stay and be a security guard if he charged £0 rent for a year (and perhaps throw in a sweetener by covering the council tax). I'm not trying a poke a stick in his eye: I think that would actually be a smart thing to do; and, as Lavalas said, he created this problem in the first place by taking property out of the hands of people with a stake in the community, so he should suffer some pain to fix it. Quote Link to comment Share on other sites More sharing options...
jiltedjen Posted May 21, 2017 Share Posted May 21, 2017 empty out the communal area of all furniture so it's not a comfortable place for the druggies to come. but that's like cutting of your nose to spite your face. What an obviously crap purchase. Quote Link to comment Share on other sites More sharing options...
BorrowToLeech Posted May 21, 2017 Share Posted May 21, 2017 1 hour ago, jiltedjen said: empty out the communal area of all furniture so it's not a comfortable place for the druggies to come. but that's like cutting of your nose to spite your face. What an obviously crap purchase. He should just get some of his landlord mates to hang out there. The anti-social scumbags are bound to put-off any junkies. Quote Link to comment Share on other sites More sharing options...
anonlymouse Posted May 21, 2017 Share Posted May 21, 2017 So this chap has offshored himself and incorporated his business to minimise his tax footprint but now complains that public services aren't looking after the place as well as they should do. On top of that he thinks that he'll get since sympathy from public servants who've had real terms pay freezes for the best part of a decade. Anyone have an account over there to point out the selfishness of his position? Quote Link to comment Share on other sites More sharing options...
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