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House Price Crash Forum

str mofo

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About str mofo

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    HPC Poster
  1. Hello, A mate of mine is emigrating to NZ - thats where hes from. His wife has MS so they want to have to keep the option of coming back and living in the house if she takes a massive turn for the worse, as they have had to sign a health care waiver to get her accepted into NZ. There is no mortgage on the property. The expected rent would be 500 per month. The tennant would be my brother. Would it be most tax efficient to get a mortgage on the property and take to £ with him (nz taxes and rules apart), thus using the rent to pay the interest and a little of the capital, or to take the rent each month with no mortgage? He is looking into the best way to get money into nz, and the tax implications of taking 100k over there as opposed to a monthly income, and whether a lump sum would serve him best, rather than a monthly rent. Does anyone know the rules regarding this sort of thing? Sorry Im being a bit vague but Im having severe problems with sleep at the moment! Its a long shot but I thought some of you informed peeps might be able to help
  2. Surely the figures just pander to the idea that you are cash rich if you own a house. You only become the holder of the money when you sell, so most people have not "lost" money on their houses, any more than they gained since 2000. It just goes to show the strength of the idea that high house prices = wealth. Stupid really.
  3. str mofo

    Injin Now The Most Prolific Poster

    What on earth did you start this thread for? "house prices and the economy" Is hardly the place for banal observations is it?
  4. str mofo

    Haggle On The Rent

    I have just secured a rental on a 5 bed detached house, huge garage, nice garden. nice area for 800pcm. originally on for 1250 pcm but dropped to 950. I haggled down to 800 by spelling it out. "ill give you 800 and thats the lot" The letting agent seemed to make a pigs ear of listing it on the net and it was really hard to find. It was for sale, but they have taken it off the market. The only easy way to find it was to look at the site of the ea selling. The letting agents site had featured properties on the front page- a different one each time I checked. On of these properties was our new house, but strangely we couldnt find it anywhere else on the site. I had to refresh the page, making a different featured property appear untill I found the right one! Just shows how an error can leave a house languishing on the market for ages, leaving an opening for a tight arsed bast like me to get in. Haggle on that rent...
  5. early fender strats and teles in perfect nick make a great wealth store.
  6. If you eat that wafer thin shit then you are a fool. Dont eat meat from the supermarket. Buy decent meat, pay more for it enjoy eating it and support the farmers (i dont support the farmers technically, just like the quality meat). What do I know? Who am I to judge? Ive just had some 80% proof "stroch" rum from norway, anyone ever had it?
  7. You dont need to support your offer. Just make sure they know you are for real and make sure you can get the money quickly. That way you will be confident in your approach. Lay your cards on the table and leave it with them. If they are not willing to drop to your price then leave them your name and number and walk away. If you give them a slightly higher offer then they have you where they want you. Get the vendor to lower the price first. PS: I think 150 is too high, there are lots of other houses which will come onto the market. If you are buying now Id make sure its a proper bargain...
  8. wonder how many are in the same boat as me. I cant afford to go on holiday with my family as we have 700 a month rent to pay (along with all the other costs associated with 3 kids), and cant save a penny. I havent been abroad for 7 years and would love to. I have enough str fund to buy a house outright if I keep looking and bargain hard. Therefore I would be far better owning a home outright and having that 700 a month disposible income to save for my retirement and go on holiday with. I also have the problem of somewhere to live. All the propertys I see that are worth living in are 800-900 a month= even worse situation than Im in now. I can buy a place then make it to my satifaction for next to nothing- materials and time- ive done it before. Given that if prices drop I will still own outright and will have 25k savings in 3 years and I could still move to a better house, I am probably wiser buying now than sitting in rented overpriced shit holes unable to save further and unable to spare a grand to go on holiday with. If I wait another 2 years for prices to drop my str fund is at risk in these shady unstable times, wont be any bigger, and I will have no savings after buying a house (albeit possibly a bigger one than I am able to buy now). Bah i dont know. If only the rental market wasnt such dross Id be happy...
  9. Spoken with such certaincy, when in reallity what you said will probably not happen. If the uk goes tits up itll take a good proportion of the world with it.
  10. Thanks for your kind words, but I wont be in negative equity because I will buy for cash- no mortgage. Ill then be free to save 25k in 3 years thus negating possible falls. The maths is very different for a cash buyer than a loan applicant. Remember that theres always a right time to buy- if the price is right. Id be buying at 40% off peak or not at all. When no one else is buying in jan/feb then I will be. Im in no rush but id be a fool not to keep my options open... Parents have cash of their own to stash and inheritance tax is a bind too so there are no simple ways to stash cash and still beat inflation.
  11. The argument for not buying is much weaker when you do not require a mortgage. At the moment my rent is swallowing all my cash. I can afford to buy a 3 bed semi with garage and garden which needs a bit of tidying for cash. I wont be paying anyone anything and I can do what I like with the property. Dont get me wrong, Im no bull, but ive been looking for a decent house to rent (moving area for schools) for under 850 a month and I just cant find one. I have adverts up in shop windows, checking the weekly classifieds, asking everyone I meet, checking rightmove, homes24, zoopla, gumtree etc etc every day. If the 2% per month falls start up again it will be great and I think they well do over winter. BUT I cannot find a decent house to live in in the mean time! If the wife loses her job we have too much in savings to get any help from government. All in all, at the moment I would be better buying. I will examine the position in 6 months and perhaps buy, perhaps carry on renting. Depends on what property, what price, what auctions/firesales/repos I can find... If I can find a decent priced house then the crash will have already happened for ME. Just because the average asking price hasnt dropped doesnt mean you cant buy a house for 40% off.
  12. You can get a caravan and live on your land , literally surrounded by a hedge. Do you own a house outright? If not why not buy one and live in it as the ultimate hedge. Thats what Im going to do. If the prices are going to fester downwards for years then Ill buy soon and live mortgage and rent free. Of course ill be choosy and bargain hard... At the moment Im paying 700 a month to live in a house which is crap. Rent isnt going to fall by much sadly. If I buy outright ill save 25 k in rent in 3 years. I can take my family on holidays abroad etc. That will allow me to save considerably more in high interest regular saver accounts and not have to worry what the prices are doing as I would have enough money to either extend the house or move to a bigger one. I personally dont think prices will drop as fast as im paying rent, so if you can afford to buy maybe in 6 months, when everyone has recovered from the spring madness then you should get a reasonable deal.
  13. str mofo

    Haggle On The Rent

    I manage a property with an aga. It does the cooking, provides background heating and all the hot water. The hot plates are extremely hot as is the hot oven. There are 3 other ovens, one of which is just for keeping things reasonably warm. It heats a huge amount of water and dries all the clothes etc. Its great for cooking on. It costs a bloody fortune to run and is very bad environmentally.
  14. str mofo

    Premium Bond Odds On A £30k Holding?

    The lottery would use a computer if it wasnt on a crappy tv show. The glass and balls are for the entertainment of simpletons. im quite sure that the process for chosing random numbers on a computer cannot be completely random, but any slight faults in the process would be immeasuably small and surely couldnt have any real effect on your odds. Sadly us humans like to spot patterns, even when they are not there. My brother seems to win more prize draws then me but he is no more likely to win the next one than I am, even if it feels like he is.
  15. str mofo

    Foreign Currency

    I would also like some info on this. The euro seems a little too strong and could lose a big chunck soon. The dollar although already weakened could lose much also. What currency spread would offer best hedges against further devaluation of sterling and general uk inflation? Ive been thinking of getting a spead of currency and keeping it in my home- dont fret, fire proof container and well hidden. Im not convinced that there arnt more massive shocks coming... Any thoughts from anyone? PS im looking for safety not growth, although both is always nice.
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