Saturday, Nov 10, 2007
BTL on the rocks
Times: Buy-to-let will come to be seen less as a one-way bet than a rich man’s game
A BTLer wrote: "I put 3 of my BTL houses on the market. By the autumn they had sold but not without serious price reductions from the asking prices advised by the various Agents I went to. I wish I had put all 6 up for sale in the Spring!! I put the remaining 3 BTL properties on the market in the Autumn to realise as much profit as I can. Like many other BTL'ers I need to do this before all the capital appreciation profit evapourates. There is not much interest out there and it is necessary to reduce prices drastically to get the interest and potential of an actual sale" MWAAY AUAUUAU AAAHHHHA HAHHAHHHA HAHAHHH
Posted by confused76 @ 05:57 PM (817 views) Add Comment
4 Comments
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1. iguana said...
I knew that there was something out there.
Being unable to gain electronic contact I was drawn to the outside where I could hear BTL's crying in corners.
2. uncle chris said...
But but ..... high employment, but but ..... strong economy, but but ..... not enough houses being built ..... how can this be? Hmmmmm, let me think. Could it be that we have a nation built on debt, purely to maintain the illusion of a feel good factor so that Crash Gordon to get into power. I'm sure he will try whatever he can to maintain the illusion until the next election. Sod the country and our economic stability in the medium to long term. My goodness, New Liebour has made me cynical about politicians.
3. crash bandicoot said...
What a patronising article, so not all BTL landlords are over-leveraged half-wits then. Never mind, as long as they paint their investo-sheds in purile taupe and have a number 47 bus stopping outside they should benefit from a rise in rents as their floundering colleagues go out of "business". But what is going to happen to the houses that the failed BTL'ers are forced to sell? Why they are going to be bought by current renters at sensible prices thus removing upwards pressure on rents. Of course those who are really in it for the long-trem won't be bothered by this, but they don't actually need to tell us that they are in it for the long-term just to reassure themselves.
4. enuii said...
Talked to a mate today who does repossessions and he has just this week repossessed five empty BTL flats in a New Build in North West England that some woman had bought off plan, she apparently lives in the sixth flat (she bought 6) in the same development and he is expecting to do that one as well in the next month or so. The daft cow never actually managed to rent any of the five out as there are over 30 other empty flats in the same block of 'luxury', 'executive', 'exclusive', etcetera etcetera apartments.
Provincial apartments are Bad News and their purchase should be avoided, they are only really relevant to London and the SE.