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ShedDweller

Was At A Party Last Night ..

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Normal conversation .. 70% property market 30% cars ..

Someone (who was talking about how he was going to use the downturn in prices to "expand his portfolio" The moment he could get a reasonable BTL mortgage .. ) Asked when people thought the property market would bottom?

Someone whispered in my ear "You will know when the bottom of the property has been reached, because you will suggest to this lot that you "Invest" in property and they will line up to tell you you are mad and why it's such a bad idea .."

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Normal conversation .. 70% property market 30% cars ..

Someone (who was talking about how he was going to use the downturn in prices to "expand his portfolio" The moment he could get a reasonable BTL mortgage .. ) Asked when people thought the property market would bottom?

Someone whispered in my ear "You will know when the bottom of the property has been reached, because you will suggest to this lot that you "Invest" in property and they will line up to tell you you are mad and why it's such a bad idea .."

there is still a lot of air to come out of this thing yet. property is still top dog. when homes are as popular as tech stocks, then we will be at the bottom.

don't let inflation catch you out though!

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Oddly enough things looking better the anecdotal front for me. Sister and a friend around last night - both in negative equity - both now admitting it.

Other friends are still looking to buy a monstrous house because they want to choose who lives next to them. The house is 4 or 5 bedrooms ranged over 4 floors and no garden. It's hard to see who'd want it - apart from students sharing (which the prospective landlords definitely don't want). Sis and friend now convinced it isn't a great buy.

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Mate who is a BTL'er (who also sees the writing on the wall) has just offloaded one of his smaller properties near me for a reasonably good price (twice what he paid for it a few years ago anyway). Asked him who bought it... young professional, married couple etc??

ANOTHER BTL'er just starting out !!!

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Oddly enough things looking better the anecdotal front for me. Sister and a friend around last night - both in negative equity - both now admitting it.

Other friends are still looking to buy a monstrous house because they want to choose who lives next to them. The house is 4 or 5 bedrooms ranged over 4 floors and no garden. It's hard to see who'd want it - apart from students sharing (which the prospective landlords definitely don't want). Sis and friend now convinced it isn't a great buy.

How do they choose who lives next to them?

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Mate who is a BTL'er (who also sees the writing on the wall) has just offloaded one of his smaller properties near me for a reasonably good price (twice what he paid for it a few years ago anyway). Asked him who bought it... young professional, married couple etc??

ANOTHER BTL'er just starting out !!!

There is always a bigger fool ..

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Dire party dialogue that...

Me, I always revert to music, shaving things smooth and covering them with a healthy dose of baby oil, or travel stories...well, at least with the lads.

People who talk about money at a social function are SOOOOOO boring and self centric. It's sad, but it's become the norm. What about the person? I guess so few us have had any real achievments worth mentioning that we have to resort to chest beating and a good dose of BS.

There is the exception of a party full of accountants where money chit chat would expected.

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Dire party dialogue that...

I must agree. As a non-owning pedestrian I'd have been reduced to standing in the corner nursing a Babycham and trying to look interested in the hosts collection of potted plants until chucking out time.

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If you want another anecdotal:

I bumped into an old school "friend" recently.

He was always a lazy arrogant fuc&ker, and it therefore was no surprise when he said he was BTL'er.

He looked a bit glum anfd he mentioned that he was looking at throwing in the keys to the mortgage company. I think he owned 10 properties.

He also mentioned that someone else he knew that owned north of 100 properties as doing the same thing.

BTL is dead.

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I must agree. As a non-owning pedestrian I'd have been reduced to standing in the corner nursing a Babycham and trying to look interested in the hosts collection of potted plants until chucking out time.

Err Bollinger :) Why do you think Mrs Sheddweller goes to these parties :) I'm only there to drive her home ..

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Err Bollinger :)

Sorry mate, I'm still stuck in a 70s time warp.

It's just a jump to the left.....

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How do they choose who lives next to them?

I took it they're going to occupy one or two rooms and rent out the other bedrooms to lodgers...

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If you want another anecdotal:

I bumped into an old school "friend" recently.

He was always a lazy arrogant fuc&ker, and it therefore was no surprise when he said he was BTL'er.

He looked a bit glum anfd he mentioned that he was looking at throwing in the keys to the mortgage company. I think he owned 10 properties.

He also mentioned that someone else he knew that owned north of 100 properties as doing the same thing.

BTL 'for numpties' is dead.

corrected.

There are some of us with low LTVs and enjoying very good monthly profits which are getting ploughed back in to paying off the houses, and decreasing the mortgage payments .... a win:win with these IR levels.

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corrected.

There are some of us with low LTVs and enjoying very good monthly profits which are getting ploughed back in to paying off the houses, and decreasing the mortgage payments .... a win:win with these IR levels.

As long as you didn't borrow money to buy the property you can make money regardless of interest rates and the property market ..

Otherwise not allot is certain :)

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corrected.

There are some of us with low LTVs and enjoying very good monthly profits which are getting ploughed back in to paying off the houses, and decreasing the mortgage payments .... a win:win with these IR levels.

if you bought pre boom using money earned, not borrowed, well i take my hat off to you.

your a professional landlord and theres nothing wrong with that.

its these btl loan monkey that i hate.

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Mate who is a BTL'er (who also sees the writing on the wall) has just offloaded one of his smaller properties near me for a reasonably good price (twice what he paid for it a few years ago anyway). Asked him who bought it... young professional, married couple etc??

ANOTHER BTL'er just starting out !!!

btl = pyramid scheme

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Mate who is a BTL'er (who also sees the writing on the wall) has just offloaded one of his smaller properties near me for a reasonably good price (twice what he paid for it a few years ago anyway). Asked him who bought it... young professional, married couple etc??

ANOTHER BTL'er just starting out !!!

Brilliant :rolleyes:

BTLTSTBTL

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As long as you didn't borrow money to buy the property you can make money regardless of interest rates and the property market ..

no you can't. there there.

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no you can't. there there.

Why not ? if you own a house and rent it out for £200 a month that's £100 profit and £100 for the maintenance .. I can't imagine any house in the South of England not worth £200 a month in rent ..

If you can;t make money out of a property you own outright ,, then I'm buying a tin foil hat ..

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Why not ? if you own a house and rent it out for £200 a month that's £100 profit and £100 for the maintenance .. I can't imagine any house in the South of England not worth £200 a month in rent ..

If you can;t make money out of a property you own outright ,, then I'm buying a tin foil hat ..

OK, buy a tin foil hat then

just imagine, a house that paid less than a bank account - oh the gore...

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