I'll never understand the posters on this forum and the way they view the world. I very much like this website and its forums to discuss various investments and to get others point of view on economics and world affairs, but those who post here sure have a nasty hatred for landlords, investors, and anyone who has accumulated more than two pounds in their life. Why would you not feel sorry for someone who has worked hard, saved some money for retirement, wants to invest the money in a safe place, and then through no fault of their own gets swindled by crooked estate agents, crooked politicians, or crooked developers? It is the same way on the landlord forum. Anytime there is a story about a landlord having problems, the other posters laugh and cheer for the tenant. If I didn't know better, it seems that the average poster on the landlord/overseas investment forums is a pierced, tatooed, substance abusing outlaw on the dole permanently.
I guess misery loves company.
Simple James. If you work hard, save some cash and put your money to good use, then fine. Unfortunately, the money from these "investors" has been placed in bricks and mortar and does nothing. It is a ponzi scheme, par excellence.
If they had bought shares instead of BTL, no-one would bat an eye. Certainly not a tabloid newspaper. However, BTL is seen as the man-in-the-street's way into the world of finance and big profits. The decline of capital gains is growing year-on-year , since 2007, and yet the press and VI's are still trying to pull suckers in.
Most on this forum have nothing against landlords. Real landlords. Not the accidental types that everyone can meet down the pub on a wet Friday night giving it large. Ones who only live for capital gains over a short term period. They told us they were in it for the "long term" in 2003/2004/2006.....let's see if it's true.
As for the Bulgarian "investors". I reserve the same reaction for them as I did when a relative told me in 2005 he was buying/investing in a ski resort flat over there. I pointed out the pitfalls. They ignored and cited X reasons why it was a winner - all sales brochure blurb, btw. My reaction this year on hearing of his 90% haircut on his "investment" ? -