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BigAl

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  1. I run half of my properties myself, with a letting agent for the other half. I have since found out that the LA issues the s21 at the start of the tenancies also. I can see that they do it to benefit me, but I don't agree with it. It's not very comforting for the tenant to be told "here is the 6 month security you are looking for, but here's the notice to get out. But don't worry, I won't be enforcing it". I will be creating new leases shortly so it won't be a problem.
  2. "The best way to make a million, is to borrow a million" Anon. (probably a millionaire)
  3. It seems to me that PG is the furthest you could get from a former BTL investor. I used to be a heating engineer, and will not hear a bad word about them. I had my own shops, and I don't think "those retail muppets really are stupid for not getting out" And if I had a few million, I certainly wouldn't put my flea-bags in for competitions, and promote them on websites, to win a million. Back on topic, if this wet dream some of you believe in happens, what will happen to all other businesses that borrow to fund their enterprises? Are they not ripe for the picking also? And if it did happen, what would happen to you all when the bank repo's the flat you are living in? Or at the very least, your rent goes up? The simple fact is, being a LL is a business, whether you do it as a sole trader or a Ltd co. Business' pay tax on profits, not on turnover. End of story. To all that harbour the grudge against LL's, we provide housing that the government can't/won't supply and we do NOT get the tax breaks you bang on about. I think there is too much daydreaming and wishful thinking going on here. The crash you all want may well happen, but thinking up all the possible triggers and posting them on here, making tits of yourselves in the process, is just not productive.
  4. But I thought the market decides rents? So it's good when they are low, but we don't want the market if they are going north?
  5. They are accepting it, by getting into the market and staying there. When they are not accepting it, they don't enter the market, or leave it alltogether. There may come a time, when capital gains have stalled or dropped, that the housewives etc will quit. If/when the majority of them go, you will be left with the professionals. Who will most likely be part of the various LL associations. With a bit of leadership, rents can be raised. You can't expect rents to stay low forever, can you? Doubt it, it's my wifes!! The smart ones that don't plow any capital into the business at all, like me. I'd show you how to do it, but I don't think you would be very grateful.
  6. And "professional" LL's cant do all of the above? The image I have of LL's from growing up is... Never spending a penny on their shithole properties Hassling their tenants Keeping deposits Believing tenants are the lowest of the low. This was from information gleaned before BTL. Sure, there are muppets in the game now, but was it so much better before? On the subject of the rent paying the mortgage, do you not agree that all business' have to have pricing models that cover their costs? No company will continue to provide a service where the revenue does not exceed it's costs. Property is a business, it will work the same way. At present, LL's may accept negative rental returns as the capital growth outweighs this, but when there is no capital gains to be had, rents will have to be raised to make deals wash their face. The ones that don't wash will go bust, and be replaced with ones that do. What will you do then, when the LL's that are left band together and decide that rents will rise to levels that sustain business? Pay more rent, that's what.
  7. 12 months? 6 in Scotland, don't know about England. Or was that a typo that should read 2 months? Good luck getting a new flat without a reference from your last landlord. First class advice...
  8. BigAl

    Glasgow

    Absolute classic! I want to download it on MP3, is it safe to follow those links or has the wee ned put virus' there?
  9. Exactly. In the time before BTL, were LL's some higher form of being that did not borrow and did not charge market rents? "professional" LL's seem to be OK, but BTL are not. How come? Is it because they have taken advantage of a situation when others have not, therefore they are resented?
  10. Aw don't, he will have to go to the trouble of typing it out now
  11. Denial about what? That a painfully obvious imaginary tale might be true? Damn right I'm in denial, if you want to be brainwashed then be my guest, don't let the truth get in the way of a story...
  12. I don't believe it. They would have paid around 150k for a house, costing circa £500pcm IO mortgage, then rented it out for £500 pcm? Then their fixed rate ends, and they have to pay 200pcm more. They don't remortgage, but ask the tenant to pay more in an absurdly poor negotiating style. They have an AST that gives the tenant one months notice, but twelve months for them. They have a clause that restricts their rent rising powers. You have either ended up with the worst/best landlord out there that is a complete and utter numpty, or you are making up a wee story to try and please all the bears on here.
  13. That seems like a well thought out objective post. Mindless oaf, bad businessman, chav, fool... Christ, I've only posted once and you know all that about me already? For the record, my purchases have been underpriced and the yields are typically 10%. I pay all my taxes faithfully, and consider myself an average businessman.
  14. All the property investors I know are fully aware of the CGT trap, although there may be plenty that don't. But of that segment that don't, how many will never sell, or never MEW, or move the asset offshore?
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