ccc Posted May 3, 2009 Share Posted May 3, 2009 I agree. Some BTLers provide an important service. I'm renting with my present LL for 10 years now. He is excellent professional LL. I had to move out of one of his flats because the renter below was mad, and was persecuting me. I was afraid it would end up with one of us in hospital and the other in prison. So LL offered me another flat, more expensive but better quality.I've just been speaking to him, and I told him I wish I sitll had the other cheaper flat. He is going to see if he can offer me a cheaper flat lkie the one I left. He has hundreds, been doing it for 30 years. When I had to move as described, he gave me a week off the rent, just offered it off his own bat. He is a landlord. We should make things clear when talking about Landlords and BTL'ers we haev very different beasts. Of course some BTL'ers of today will be the real landlords of tomorrow. Most however will put it down as a failed investment. IMO. Quote Link to comment Share on other sites More sharing options...
murpaul Posted May 3, 2009 Share Posted May 3, 2009 Ajay, your business strategy is dependent on artifically low interest rates over the last decade. When rates return back to the long term average ( which it must at some point ) your business will be no longer viable. Quote Link to comment Share on other sites More sharing options...
erranta Posted May 3, 2009 Share Posted May 3, 2009 Only two years after the peak and this type of persona is already lost in time. This will be the kind of thing they quote in history books in the 2030s to show a type of egotistic, easy money-driven, illiterate, self-declared alpha male, cloth-eared, loudmouthed idiot of the mid-2000s. Him and that orange guy on steroids. What he doesn't see is that whether or not he goes down financially he is a clown figure: no sense of value, no ability to reflect on his actions, a need to keep boasting whatever is said to him, a defensive desire to talk about education though he can't read and write. He is already like the Elizabethan fops with the huge ruffs. An idiot in the funny pages of history. LUD Skool of EGO_GNOMICS! Quote Link to comment Share on other sites More sharing options...
pete.hpc Posted May 3, 2009 Share Posted May 3, 2009 just to confirm: it is £55k PER MONTH.I know it is difficult to comprehend these figures but trust me this is NOTHING compared to some big time landlords. I know of landlords who have monthly rent rolls of £3m per month. Can you imagine that? That is where I want to be....... I want moar.......MOAR........MOAR!!!!!! Then people will love me!!!!! Quote Link to comment Share on other sites More sharing options...
copper crutch Posted May 3, 2009 Share Posted May 3, 2009 SOme of the attitiudes on here surprise me. If you are so anti BTL, start a campaign about it, set up a website educating people to its evils, write to your MP, petition the government, DO SOMETHING ABOUT IT instead of sitting behind your computer screen flinging bile over the copper wires at some bloke who really doesn't give a toss what you think or say!I wouldn't choose to buy Mr Ahuja a beer, and he probably wouldn't want to do the same for me, but he is doing nothing illegal. He thinks he can make lots of money out of it. He might be right. He might be wrong. Who is worse, Ajay or the Labour peer who has stiffed us to the tune of £100,000 for a house in Kent that she hasn't used for years???? edited for poor spelling. He does seem to be making lots of money Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted May 3, 2009 Share Posted May 3, 2009 He does seem to be making lots of money so did Grant Bovey, Northern Rock and CITIBank. until they werent, and actually, never did. Debt covers a lot of sins....until the loans run out. Quote Link to comment Share on other sites More sharing options...
HAMISH_MCTAVISH Posted May 3, 2009 Share Posted May 3, 2009 (edited) Ajay, your business strategy is dependent on artifically low interest rates over the last decade. When rates return back to the long term average ( which it must at some point ) your business will be no longer viable. Actually, I reckon thats just not true. The only way rates are going to rise, is if inflation picks up. Rents also rise with inflation. They will pretty much cancel each other out. Edited May 3, 2009 by HAMISH_MCTAVISH Quote Link to comment Share on other sites More sharing options...
thombleached Posted May 3, 2009 Share Posted May 3, 2009 Anthony Robbins and the rest of the self-motivation big swinging dicks of this world have ALOT to answer for IMO Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted May 3, 2009 Share Posted May 3, 2009 Actually, I reckon thats just not true.The only way rates are going to rise, is if inflation picks up. Rents also rise with inflation. They will pretty much cancel each other out. thought loans were up? thought money availability was up? which is it? more money or less money...make your mind up. Quote Link to comment Share on other sites More sharing options...
pete.hpc Posted May 3, 2009 Share Posted May 3, 2009 (edited) He does seem to be making lots of money Don't believe the hype. These people are pyramid scammers who have been talking the market up for their own needs all through the boom. They've become professionals at hyping the market away from reality and into a place where everyone had to BELIEVE in it. He will be spouting his nonsense to the bankruptcy courts. In fact, pick any BTL twit over the boom years and they all talk like Ahuja does on this thread, same mannerisms, same creepy salesman patter, same "only way is up", "be rich like me" ********. They are not professional investors or landlords, they are professionals at borrowing money and convincing others to do the same, all little Inside Track clones. However, their business plan is dead. Actually, I reckon thats just not true.The only way rates are going to rise, is if inflation picks up. Rents also rise with inflation. They will pretty much cancel each other out. Rents were apparently going to rise under all sorts of different scenarios to ensure BTL remained a viable investment, but they never did. They fell. Numpty BTLers thought their tactic of talking up house prices would work with rents too, it didn't. As anyone who understands markets was trying to tell them, but they were all too busy telling each other how many millions their portfolios were worth, whilst never mentioning debts. Edited May 3, 2009 by pete.hpc Quote Link to comment Share on other sites More sharing options...
winkie Posted May 3, 2009 Share Posted May 3, 2009 Yes but what about those tennats that are on low below market rent, I dont undertand why he doesn't bring them up to council standards, I would. Maybe they are sitting tenants, and he therefore bought the property dead cheap to factor that in. Quote Link to comment Share on other sites More sharing options...
Hip to be bear Posted May 3, 2009 Share Posted May 3, 2009 Actually, I reckon thats just not true.The only way rates are going to rise, is if inflation picks up. Rents also rise with inflation. They will pretty much cancel each other out. Inflation will lead to higher interest rates which will hasten further reduction in house prices. At the moment house prices are falling, as are rents. THe local housing allowance is calculated on 'middle of the range local rental figures'. There is no direct link fron RPI or CPI to rents. I am not convinced that further falls in house prices will mean higher rents. Hamish, over to you......... Quote Link to comment Share on other sites More sharing options...
HAMISH_MCTAVISH Posted May 3, 2009 Share Posted May 3, 2009 Inflation will lead to higher interest rates which will hasten further reduction in house prices. At the moment house prices are falling, as are rents. THe local housing allowance is calculated on 'middle of the range local rental figures'. There is no direct link fron RPI or CPI to rents.I am not convinced that further falls in house prices will mean higher rents. Hamish, over to you......... In a seriously inflationary environment, (as would be required for rates to cross 5%) everything will increase. Wages, rent, and house prices included. Can you name a time in recent (last century) history where inflation and rates were around 10% and rents/house prices did not also increase? Quote Link to comment Share on other sites More sharing options...
winkie Posted May 3, 2009 Share Posted May 3, 2009 In a seriously inflationary environment, (as would be required for rates to cross 5%) everything will increase. Wages, rent, and house prices included.Can you name a time in recent (last century) history where inflation and rates were around 10% and rents/house prices did not also increase? History will not repeat itself...inflation and high interest rates, with falling rents, property and wages. Quote Link to comment Share on other sites More sharing options...
Dangerous Woman Posted May 3, 2009 Share Posted May 3, 2009 Ajay said: "I do not sit there claculting my equity as no point." I would never clacult my equity! Never! It would sting! Quote Link to comment Share on other sites More sharing options...
pete.hpc Posted May 3, 2009 Share Posted May 3, 2009 In a seriously inflationary environment, (as would be required for rates to cross 5%) everything will increase. Wages, rent, and house prices included. eh? 3-5% rates could be back in a heartbeat. 5% is not a high and may be forced on the BofE by the markets themselves or the IMF Can you name a time in recent (last century) history where inflation and rates were around 10% and rents/house prices did not also increase? 5 or 10%, make your mind up Quote Link to comment Share on other sites More sharing options...
Hip to be bear Posted May 3, 2009 Share Posted May 3, 2009 In a seriously inflationary environment, (as would be required for rates to cross 5%) everything will increase. Wages, rent, and house prices included.Can you name a time in recent (last century) history where inflation and rates were around 10% and rents/house prices did not also increase? 1981 to 1982 1991-1992 Both had high inflation, high interest rates and falling UK house prices. Can't find stats on rents though. I have no doubt it was different in Aberdeen! Quote Link to comment Share on other sites More sharing options...
the flying pig Posted May 3, 2009 Share Posted May 3, 2009 Hamish, there's so little competition between banks now that a base rate of 4-5% will almost certainly translate into double digit mortgage rates. Quote Link to comment Share on other sites More sharing options...
ccc Posted May 3, 2009 Share Posted May 3, 2009 In a seriously inflationary environment, (as would be required for rates to cross 5%) everything will increase. Wages, rent, and house prices included.Can you name a time in recent (last century) history where inflation and rates were around 10% and rents/house prices did not also increase? Remember this is a person who would let us believe they are over 40 years old. If you are over 40 years old you do not think SERIOUS INFLATION =- interest rates of 5% plus. This is also someone who happens to keep an eye on the average yield on property in Egypt. Yet this person is also not emplyed in an industry that has anything to do with property.. Hamish - the game is up. You have lost. At least have some balls and tell us what EA/property investment club you work for. Cheers Quote Link to comment Share on other sites More sharing options...
D.C. Posted May 3, 2009 Share Posted May 3, 2009 My debt on my portfolio is around £7mI do not sit there claculting my equity as no point. the only time you do is when there is a nice bit of equity worth raiding via remortgaging to BUY EVEN MORE! So when do you need to refinance that £7,000,000 debt Ajay? I'm assuming your creditors will be interested to know beforehand if you have more debt than capital? Quote Link to comment Share on other sites More sharing options...
blubber Posted May 3, 2009 Share Posted May 3, 2009 So when do you need to refinance that £7,000,000 debt Ajay?I'm assuming your creditors will be interested to know beforehand if you have more debt than capital? Your not singing anymore..your not singing any more! Ajay, you need a reality check and as for the wife, I am sure she will be heading of soon, esp. as the money is running out! Tough choice, the money or the wife Quote Link to comment Share on other sites More sharing options...
darwin Posted May 3, 2009 Share Posted May 3, 2009 so eventual target £120k profit per month from property. do not care about negative equity as IRRELEVANT! Not sure if anyone gets that here on this forum. Bwwahhahahahhahahah!!! Well, £7m or not, this sort of thing is priceless. That'll go straight into the Museum of LOLs. Any other intellectual titans want to come on and compete with that? Come on, Sibley, Valerius, Rinoa, where are you? This guy's stealing your swagger! Quote Link to comment Share on other sites More sharing options...
Giordano Bruno Posted May 3, 2009 Share Posted May 3, 2009 "Its best explained using an example.... However, if I were to use this £94,000 as deposits to buy around 20 flats for £30,000 each which will give me a £150 profit per month plus an anticipated 50% capital growth over the next 3 years I would expect to make a whopping £400,000. So I am now in the process of selling 57 properties which will raise about £1.7m after tax which I will gear up to buy £11m worth of property which should grow by at least 50% making me a cool £5.5m over the next 3 years. Even if ... ... Of course...but why on earth does he think anyone will want to buy his cast-offs, when the same will apply to them? Extraordinary example of self-denial. Major faults in strategy:-(1) plus an anticipated 50% capital growth over the next 3 years anticipated by you, maybe, but will probably not happen (2) should grow by at least 50% making me a cool £5.5m over the next 3 years. Even if ... same as for (1) (3) I will gear up to buy £11m That means you owe £9.3m more than you did before! Debt is not wealth. You are seriously exposed. Quote Link to comment Share on other sites More sharing options...
50%deposit Posted May 3, 2009 Share Posted May 3, 2009 i love the way that Googles auto complete tries to complete a search for ajay ahuja with the term SCAM or CON Quote Link to comment Share on other sites More sharing options...
darwin Posted May 3, 2009 Share Posted May 3, 2009 i love the way that Googles auto complete tries to complete a search for ajay ahuja with the term SCAM or CON Well spotted! Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.