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LondonToManchester

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Posts posted by LondonToManchester

  1. Parental guarantee?

    To much hastle!!

    In all honesty I guess if I had problems finding tenets then I would have to consider stuff like this. But in didsbury if your place is sensibaly priced i.e 650-700 for a 2 bed flat. It will go in a couple of weeks.

  2. I've always preferred the option of buying an old car for a grand in cash, running it for a year, scrapping it, and then buying another.

    3 years ago you had to pay the scrap man to take a car away. Now he'll give you £150 cash for almost anything!

    You can get a decent car for a grand these days.

    Decent yes Sexy no

  3. It makes sense to buy when prices are LOW and hold them to sell when they are high.

    It doesn't make any sense to buy into the peak of a bubble market, which is what this guy appears to have done - and in some style. If he can hold on to his properties through the next few years he might start to realise some profits a decade down the line. Woo Hoo.

    True in an ideal world but the situation now is that he has the properties.

    So the best thing for him to do is to hold! and stop worrying about every little thing!

  4. I am guessing he is under aged 35? If I am correct, he has no adult memory of the last property crash, it's as simple as that. One cannot fully comprehend what one has not experienced (eg I read books about the horrors of war, but unless you've been in one first hand how can you really know how visceral and arm slicing it is?)

    He may have not been around for the last property crash but I am sure his mum was!

    What would his mum have told him? Yes property prices went down but then they increased faster and higher then before. Basically people who kept hold of there property at all costs were the real winners. People who sold at a loss were the loosers.

    SO a long term buy and hold stratagy is the way to go?

    Maybe people are not as dumb as some people think.

  5. Really? you think its reasonable for people to able to decide who gets a house and who doesn't?

    Think about it for a minute

    Yes I do!!

    As a landlord you have to decide is the person you are renting to the type of person you want to do business with.

    As many people on this site are quick to remind people BTL is a business.

    Whats wrong with that?

  6. I was looking at buying a house for £250k. Now I'm renting for one or two years and have a large STR fund. That house is depreciating at £2k a month. So in theory, I'm making £2k a month, tax free. At the same time, I'm eating beans on toast for my tea and not going on holiday this summer. I find it a strange situation, I'm both poor and rich at the same time. The temptation to dip into my fund is overwhelming. Anyone else feel like this?

    Its the same as MEWing really, isn't it, ie spending money based on an unrealised profit resulting from house price changes? Or is my STR fund realised profit (made when I sold my house), and therefore ok to spend?

    Dude you only have 1 life don't spend it eating beans on toast!! Enjoy life mate..

  7. I think this has alot to do with what the investers were told by the people selling the investments.

    Were they told that there investments could never go down? In the UK that couldn't happen the FSA prevents companies from saying silly things like that. Can the pakistani version of the FSA do the same thing?

    BTW I am Pakistani myself.

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