Wednesday, May 13, 2009
More from PropertyWatch
BBC: Buying at peak - from boom to bust
HPCers might remember George from the original series of The Truth About Property. Back in 2007 he had just sold his RTB council house in London, making a cool £500,000 profit. He was able to buy another house outside London mortgage-free, as well as splashing out on a fancy car. Unfortunately this was not enough for him, and he decided to get into the BTL game, buying another two properties to rent out. Now with his tenants in arrears and his house values crashing, he has been well and truly pwned. Hearty comedy LOLz ensue.
Posted by little professor @ 05:15 PM (1363 views) Add Comment
16 Comments
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1. jackas said...
Nice one LP
That bloke stuck in my mind from the original show. He was giggling like a child, eyes twinkling in disbelief at how much money he had made from a crappy house.
Fool.
2. japanese uncle said...
Easy come easy go, simple as that.
3. crunchy said...
A lucky one trick pony will always end up an ass!
The money would have been safer in the hands of an alcoholic.
4. paranoia blue said...
Le Crunch @ 3
All contributions gladly accepted!
5. Stillthinking said...
This makes the working in the UK ridiculous, he made 500k from selling his "council house" i.e. the house he was provided with by the taxpayer to live in.
6. stillthinking said...
This makes the working in the UK ridiculous, he made 500k from selling his "council house" i.e. the house he was provided with by the taxpayer to live in.
7. crunchy said...
4. paranoia
Oh no, not another one.
8. crunchy said...
5. stillthinking ... Ring any bells?
9. drewster said...
Nice find, LP.
How could the banks have ever thought this guy was safe for their money? Oh wait that's right, because he was "investing" in pwopertee.
10. paul said...
Welcome back paranoia.
He has a very slappable 'geezer' face.
11. Yoss said...
Wow.... He did stick in my mind from the original program....At the time, I thought.. Fair play you got lucky (And appreciate it!)
Now we hear he got greedy!
I try to avoid bad Karma.... but I am feeling a slight tingle of poetic justice in my bones.
12. voiceofreason said...
Yup, working for £ or $ is a mockery...
13. inbreda said...
not to worry, once it's all gone he can go and get another council house funded by the tax payer.
How unproductive is this country?! And how is it that Rosie is completely blind to the fact that an unproductive country cannot last forever on bidding up house prices. AND WHY DID SHE KEEP INTERRUPTING JUST TO MAKE SUCH UNINTELLIGENT COMMENTS!!!! AAARRGRGHHH!!! I JUST WANTED TO SLAP HER!!
rant over. Thanks
14. Richiep said...
just watched the latest episode tonight... Does it not speak volumes about the disgusting state of this country if this is what has become of us?
15. Norfolk&clue said...
I remember him from this article:
http://www.guardian.co.uk/money/2007/may/13/houseprices.business
Bought the house for £39,000 in 1997 sold for £565,000 in 2007.
16. doomwatch said...
What happened to that n0b from Essex (difficult to narrow down) who appeared on the Truth About Property last year.
MEW'd himself silly buying hot tubs, plastmas, champagne etc. Think he was called something like John English ?