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Council estate capitalist

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  1. Council estate capitalist

    What / Who will collapse first in 2019

    Imo game publishers are trying to remove the retailer (and their profit margin) from the equation in the same way Apple tried to do with the music business. It started a few years ago when games shipped with "one use codes" tied to a user account that gave access to parts of the game (Mostly online multiplayer). This destroyed the resale market for those titles because to buy a new access code would cost almost as much/more than buying the game new. I'm not an expert on video game retail but the used resale side of the business will have significantly higher profit margins than on new goods (Just look at the price board at Cex, they sell used items for double or more what they paid for them). I know they get "commercial payments" from Nintendo for giving large amounts of shelf space to the more family-oriented Nintendo games, I wonder what kind of hit they would take if this stopped. As for Ashley I think he's smart enough to structure deals in such a way as to not lose money. His (Sports direct) holdings of Debenhams shares have taken a big hit though, I remember reading about his 25% position when it was trading at 22p It's currently at 3 pence a share.
  2. Council estate capitalist

    What / Who will collapse first in 2019

    I saw this a few days ago while going through the Allsop auction list. My first thought on seeing it was being sold on behalf of a "major fund" was disappointment in the fund manager for not selling such a worthless investment sooner. People's money is invested in this, Ordinary people either through their pension or through an investment fund. 14/21 of the units are empty, 1/2 is on nil rent, and all the tenants (except the council) are able to exit their leases within the next 2 years. I've seen properties like this before, They can be filled with tenants if you go and drum up the small business demand & offer realistic rents. Too many "property managers" are 15 years behind the time, thinking that putting up a surveyors board and holding out for a national chain is all they need to do.
  3. Council estate capitalist

    What / Who will collapse first in 2019

    As a 20 something I (previously) regarded Jack Wills as being a brand that the spoiled daddies girls wore, Not sure where I formed that conclusion but it's stuck.
  4. Council estate capitalist

    Money Diary

    No savings but wants to get into buy to leach. Translation: Rubbish at saving but has been to a property seminar and fed the "passive income" dream. Looking at her website, more specifically the testimonials from clients broken down as follows. - Professional stylist (Her client list was actually fairly impressive) - Wedding planner - Wedding venue consultant (for venue owner) - Publicity coaching/PR for female entrepreneurs - Copywriting for the wedding industry - Wedding florist - Branding for weddings I started writing this post on the attack but she does appear to at least have real clients, I've been to many business networking groups/expo's full of charlatan coaches so I have to give her credit for the clients she has + her ability to get her adverts as an article in the guardian. On the other hand I detest these kind of businesses that are effectively just selling to each other. My bitterness is part jealousy, I picked refurbishing/selling physical products over being a woo woo zen lifecoach.
  5. Council estate capitalist

    Universal Credit New Thread.complete Disaster.

    The current target of 2023 is crazy, It's the moving people from the old benefits that is holding it all up mostly, + losing several court cases isn't helping to get it finished. They are now in the rather absurd situation where there's 2 parallel benefits systems, one of which much more generous to those who are "grandfathered in" under the old rules, I imagine some people will not take jobs/move house/move in as a couple to avoid the loss in benefits that occurs if they are forcibly moved to UC. For example if you move from JSA to UC and get DLA/PIP then you lose £1700ish a year. I liken the shambolic roll out of UC to the way they scrapped DLA and introduced PIP for working age claimants, All of the DLA claimants were supposed to be reassessed about 5 years ago but I know people still claiming who have yet to be contacted (Who if they were would definitely not get it)
  6. Council estate capitalist

    Universal Credit New Thread.complete Disaster.

    I'm hoping mold illness claims against scumbag landlords. Lawyers in America say, Mold = Gold.
  7. Council estate capitalist

    Household debt record highs

    Continued. I'd be interested to know how many of the 08/09 bankruptcies are the result of "bankruptcy tourism" EU nationals using this country due to our relaxed bankruptcy system
  8. Council estate capitalist

    Household debt record highs

    Make what you will of the chart. DRO's are fairly new & only usable by people with no real assets + limit £20k in debt but the numbers are pretty steady. Usage is probably driven by people going to CAB/Stepchange so expected to be pretty steady. IVA's are a good barometer of people who've overspent on cards/loans but naively think an IVA will let them keep their home.
  9. Council estate capitalist

    What / Who will collapse first in 2019

    I'm going to pick 5: 1. Bensons/Harveys or Carpetright 2. Interserve 3. Debenhams 4. Another restaurant chain (maybe one of the ones that did a CVA in 17/18) 5. Mothercare. I'm so glad not to be part of that group wasting there money like that, Bought our 32" telly new in 2010 for £250, It broke last year and I spent the grand total of £2.76 and 20 minutes replacing a blown capacitor.
  10. Council estate capitalist

    Who are Progressive Property? (delusional LoveMoney email)

    Most of the "property guru's" are doing exactly that. I consider progressive to be massive only by comparison to most bedroom dwelling charlatans. 45 cars in their parking lot, But I bet most are on finance. they just can't resist.
  11. Council estate capitalist

    What / Who will collapse first in 2019

    +1, They've been on my watchlist, and Harveys. Carpetright has taken a bath recently, Can't imagine furniture is doing too well. I think they are suffering the same problems that Carpetright/Homebase/B&Q are suffering.
  12. Council estate capitalist

    Who are Progressive Property? (delusional LoveMoney email)

    "Progressive property" are a massive outfit, I've seen so many of their Facebook ads + know a bunch of people that have been to at least the free seminars. Some of what they teach is decent (Converting offices into flats where there is occupier demand) but like many of these property seminar operators they're are promoting more dubious schemes like "rent to rent". "option agreements" & Deal sourcing/packaging that don't require any real initial investment, They do this because if you could only sell the courses to people with money already you'd be out of business.
  13. Council estate capitalist

    Another raffle - We're not giving it away.

    This dancers hill house one makes me laugh, It appears as a "game of skill" competition but doesn't let you enter the competition (online) with an incorrect answer.
  14. Council estate capitalist

    Buy To Let Finance Watch

    I'm a member on a P2P Lending forum and it's clear that most of the "smart money" on that forum are leaving P2P having had very good levels of returns, but very dissatisfied with defaults, or more accurately loans late (but not defaulted by platform) with silly updates such as "borrower intends to pay next week". along with really naff loans being originated (Overvalued small development sites with highly sensitive numbers. e.g price falls 10% and loan security is impaired). The secondary markets on these sites (Funding secure, Lendy, Mintos etc)are currently full of investors trying to pull their money out of very dubious poor quality looking loan parts that they've been trying to exit for months. (they used to sell within hours). Maybe the lack of good origination means high-risk loans are being snapped up by one of the many specialist lenders? If one vanilla resi broker uses 60 different lenders it can't be hard to get a loan for any old rubbish.
  15. Council estate capitalist

    Do they know it's Christmas?

    Interesting, I felt that the number of courier/royal mail vans coming down my street were a lot lower this year. Debtenhams puts out a trading update on the 4th, Along with several other big retailers next week which should be interesting. The John Lewis sales figures don't look terrible (up to the 20th) but I suspect margins again will be pushed down by all the discounting.

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