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Everything posted by Methinkshe

  1. I've just reveived an email from Primelocation How to give up work and become a property millionaire instead Are you just talking about it when you could be acting? This FREE introductory property investment workshop is an eye-opening first step Everyone talks about investing in property (I bet you have). Yet few get beyond talking - and even fewer make real money. But 200 built property portfolios worth over a million pounds or more through us last year – and many more added a second, third, maybe even a fifth property to their portfolio. In fact in 2005, our clients bought property worth £552 million – equal to nearly 5% of all new-build units in the UK. And every single one said “yes” to this invitation you are now reading and went on to benefit from the Inside Track Programme. Before you ask, no, they didn’t have huge capital to invest. They just set aside their fears and came to see what works, what doesn’t and why - from people who had found out the only way that counts – by doing. At one of our FREE introductory property investment workshops they met and questioned those successful people before they decided to spend a penny. They saw them give some detailed facts and figures, and received an insight into how the Inside Track Programme could help them: build a substantial property portfolio put down minimal cash deposits – time after time negotiate effectively with sellers – discover the tricks that beat them at their own game even buy properties at below market value – get 15% to 20% off regularly, and make impressive profits make money in good times and bad – no matter if the market is going up, down or sideways They also got the answer to a question you’re asking yourself: why do we offer these FREE workshops? All those 200 millionaires had one thing in common: they attended an introductory workshop and went on to benefit from the Inside Track Programme. They saw the inescapable economic reasons why prices have risen an average of 11.3% year on year since 1948 (source: UK Land Registry) – even allowing for slumps. They saw why it’s perfectly logical that income from renting residential properties more than doubled from £37 billion to £83 billion between 1992 – 2004 (source: Office for National Statistics.) They saw why this trend is likely to continue. They saw that from a peak in 1956 – yes, 50 years ago – house building is lower than it’s been since before World War II. They also learnt to be aware of pitfalls – and what to do to minimise them. Because, whilst it’s undoubtedly true that property investment, like any other investment, is not guaranteed to make you a profit, it is also true that professionals know how to manage risk – and even turn difficult situations to their advantage. Wouldn’t you like to see how you too, might cash in on these facts? Then join us for this free, no obligation, 2 hour introductory workshop. Book a FREE workshop near you here. This is how those 200 property millionaires I mentioned started out. It’s why Des Pirkhoffer finally acted and can now say: “We now have 3 properties in Florida, 1 in Scotland and 6 in England. The portfolio is worth £1.6 million with equity just shy of £500,000.” And you’ll hear some more real stories at the workshop, straight from the mouths of the people who experienced them – ordinary people like you with the desire and determination to succeed. They could have sat back and like many, talked about investing in property while their lives drifted on by. But they didn’t, they acted. And paved the way for a better future. Why don’t you act now? Go here for the first step, our FREE 2-hour introductory workshop. Then never look back. Yours sincerely
  2. Excellent post, dstars - thanks. What I can't understand is why the stock market is not collapsing. What's going on there?
  3. When it takes 6+ times earnings to secure a mortgage you can bet your bottom dollar (or gold sovereign) that the capacity to carry debt has reached a critical phase. It is not for no reason that the traditional ratio for mortgage debt is based on 3 - 3 1/2 times income. Okay, two earner households (when women entered the mortgage market in a big way) went some way to skew the traditional leverage, but I don't think it will last forever. Moreover, I'm not forseeing a correction, more of a meltdown. But that's just my personal opinion.
  4. With hindsight, this was true of the last HPC. Many of us (including me) got it wrong to the extent that we believed that that crash would be the bubble extraordinaire - none of us realised that there was another bubble reflation possible. Yet, somehow the politicians (and it WAS politicians and not markets) wangled another fifteen+ years HPI. However it is not possible forever to keep adding debt. Look at it on a micro scale - an indebted household sooner or later will have to repay debt (or default with all the attendant hangovers). You cannot continue to compound debt indefinitely. You can sell the family silver to stave off the day of reckoning but sooner or later debt will have to be repaid. The big question is HOW and WHEN debt will have to be repaid either on a micro or macro economic scale.
  5. Thoughtful answer, and thankyou, but didn't answer why, if mortgage repayments which are the most subject to inflationary pressures are excluded from CPI, we should trust published figures. For instance, my 80 yr old mother who owns her own home and has a few thou deposited in the bank to give her some additional income on top of her old age pension (too much to get council tax relief) has found that her inflation rate (largely due to council tax) has risen FAR MORE than CPI would suggest. It is this kind of anomaly that I feel distorts the CPI so that I find it very difficult to give it much credence.
  6. I think you have a good chance of winning in a small claims court because current legislation is in your favour. Having rented for the past ten years I've had to accept that my deposits were a write-off - however carefully I treated the place. Even in unfurnished lets a landlord could claim that you'd "done something" to a light fitting, or any other permanent fixture, and it was impossible in the absence of photo evidence to prove otherwise, thus cash/deposit in the landlord's hand called the tune - there was nothing you could do to get your deposit back. Which is what inspired the new legislation re deposits - landlords had begun to think of deposits as bonus payments on the termination of a tenancy. Not any more. The law is currently favouring the tenant re depositis, so go to court. My bet is you'll win.
  7. Seems to me that if mortgage repayments are excluded from CPI when they can represent 50% or more of household budget, CPI figures aren't worth the paper they're written on. With that kind of sleight of hand, how can we trust CPI figures at all? Are they telling us anything to do with the real economy or are they just spin? How much is political manipulation and how much is trustworthy statistics? Looking for reassurance (but not expecting any).
  8. Am I correct in thinking that anyone can set themselves up as a mortgage broker, and that just about anyone has in the last 10 years? At the time of the last HPC I knew a mortgage broker who'd just decided to do the job because she saw rich pickings. Didn't even bother with an office - worked from her home and car. She was arranging mortgages for people on the dole - that was when all mortgage interest was paid by housing benefit (or somesuch) from week 1 of a claim. I think the rules may have changed now. Anyway, she didn't blink an eyelid at inventing false self-cert accounts. Moreover, she made a fortune selling mortgages to dolees. I think the fallout from UK sub-prine (fraudulent) borrowers is going to be even worse this time round. But the fly-by-night brokers are the ones who fuelled the fire. They're the ones who manufacture the fraudulent salary claims and accounts. The borrowers were just sheep to the slaughter. The paralleles with pyramid selling are interesting, even at this level, though. This particular mortgage broker was trying to get me to go into the business - she'd have taken a rake-off from any of my sales. Tupperware/Amway mortgages! I politely declined.
  9. Problem is, 18 yr old daughter is number seven child of nine and the youngest is brain-damaged through a very tragic case of medical negligence, so I could leave a very dependent child without a mother. However, I have brought up some nice kids and my older ones are doing very well for themselves (sans student loan debt) so I suppose that if I were to kick the bucket they could step in and look after their disabled sister. I'd never actually considered a hitman to make life easier but now you mention it.......
  10. Or perhaps I would be a good candidate for Belsen. Got to lock up all those pesky people who don't toe the prevailing line, haven't we? Or perhaps you've never heard of Belsen? Wouldn't surprise me judging by your tone..
  11. You are wrong and I reserve the right not to divulge my full circumstances. However, the info I have given is 100% accurate. Just to further test your credulity, I am the mother of nine children by one husband to whom I remain married after 30 + years and who is 20 years (born in (1935) my senior and worked from the age of 14 and served in Merchant Navy and RAF and was a chartered engineer and we ran our own business, but he is now retired. Disability refers to my youngest daughter who was brain damaged by med neg at the age of 8 months (ongoing case). Want to know any more? Just one thing, even if you don't want to know: my husband worked damn hard from the age of 14 - 65. Whatever claim he now has onstate benefits because of our daughter's brain injury is via National Insurance - at least, we oldies thought it was insurance but we are beginning to realise that it was in fact no more than a tax. Eidted for some really gross errors of vocab and meaning. Sorry. I wrote credibility instead of credulity and that was so offensive a mistake that I couldn't bear to leave it uncorrected.
  12. Okay, I used a little licence when I spoke of AAA but metaphorically a top credit score for an individual is equivalent to a Moody's triple A for a corporation - probably better when you consider that they've been offering triple A to sub prime mortgage debt via CDO's and have been obliged to re-rate as CCC.. As for a consumer credit crunch - I'm predicting one and and am using my bro's experience as evidence of the start of same.
  13. You've got it in one! Serfdom! Ever felt pissed off because income tax is DEDUCTED from your wages? You don't get a polite invoice asking you to pay, do you? Wait til your student loan repayments are DEDUCTED from your wages and are subject to any change in conditions that the government of the day feels inclined to impose. Double the interest rate - what are you going to do about it? And what other out-of-the-blue conditions could a government impose once you are in hock?
  14. Let me advise you. In a liquidity crisis/credit squeeze, even triple A borrowers are turned aside because banks CANNOT lend, not don't want to, because they lack the liquidity - absolutely nothing to do with the client's credit score. That's what I'm trying to draw attention to. If banks are not even lending to their triple A clients today, then they are in deep doo doo - nothing to do with their clients' credit score, everything to do with the liquidity/solvency of banks. I wish cg was here - he'd explain it much better than I can.
  15. To be honest, I don't know. All I know is that he is an AAA borrower yet Tesco has refused a loan which he applied for on my behalf but in his name (without mentioning me in case you think I'm the proverbial in the woodpile). Okay, he's got the loan from another source but that's not the point I was wanting to make. I wasn't trying to invoke an assessment of my bro's finances but rather point out to the numpties on this board that credit is tightening even for triple A borrowers. I wish now that I had saved my breath.
  16. I despair - very few on this site seem to be able to think beyond the bounds set for them. What I offered was an illustration of tightening credit - it's so bloody obvious that one would have thought it required no further explanation. Yet some snot-nosed eejit pipes up and says: "why didn't your brother buy you a car?" I have heard of the financially unwashed and have always counted myself amongst them becaue of my small grasp of economics.. I think I did myself a disservice. I'm just beginning to meet the financially unwashable.
  17. Morons, the lot of you! I gave a personal illustration of a wider problem - i.e. a credit squeeze, and all you want to do is discuss the rights and wrongs etc of my bro's offer to help me to obtain a loan using his good credit. I was trying to offer a personal illustration (so that morons might believe) of a tightening of credit. Bring back cg. Is there anyone left on this planet, never mind this forum, who can comprehend the general with reference to the particular but without making the particular the order of the day. SHEESH!,
  18. Which pocket? The one tied up in his property, his boat, his other obligations or what? What a daft question. Like people hang around with 15 grand in their pocket ready to dispense....which planet do you live on?
  19. To prevent further speculation ... My brother has previously entered a joint loan with me on the basis of my daughter's DLA (she gets full mobility allowance) because we cannot use the Mobility scheme since if you do more than 12,000 miles pa you get charged 10p per mile. As we live in the middle of nowhere and to get my daughter to and from school = 160 miles per day, it is obvious that the 12,000 miles pa motability scheme is useless. So, 10 years ago my bro helped me to buy a new car and 10 years hence he's helping me to buy another - he gets the loan, puts my name down on it and I repay through DLA. What I find significant is that where once he could have borrowed anywhere without question because of his credit status, (even if I was mentioned in dispatches, so to speak) now he is getting turned down by Tesco. There's something amiss/changed since last time we arranged a joint loan. That's all I'm saying.
  20. 'scuse, me, I don't think the Fed (aka the US government) has anything at all to gain by going bankrupt. It will be a position forced upon them by the markets. They will do backward somersaults with pretty juggling acts and naked ladies to avoid any such impression. Question is, will the likes of you and I believe their contortions?
  21. On my behalf - I am my brother's impecunious sister, dependent on disability and pension benefits. Just trying to help me out. So don't shout your mouth off so damn quick next time. Good Samaritans still exist - especially my brother. Thing is, you're missing the point. Why was he turned down even if he was looking for a loan to help me out? He is a triple A customer.
  22. My brother who earns a very respectable salary (£100k+ pa plus very envious bonuses) has just been refused a £15,000 loan by Tesco = RBS, Natwest???? He has a £1 million + house in Gerrards Cross with less than 50% mortgage. Sounds to me like a credit squeeze when AAA customers are turned down. Okay, he has been able to raise the finance from an alternative lender, but to be turned down with his AAA credit status is indicative of something else....
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