Jump to content
House Price Crash Forum

Recommended Posts

TimeToScreamAndShout likes to brag about his 'property portfolio' in 'Wandsworth', and forever remind us plebs how 'stupid' we are for not buying a string of BTL's in the SW11 postal district last week, last month, last year, 1908 etc etc.

As you all know, London took a pasting last month, with official figures reporting the worst borough to be my own (RKB&C) down over 5%, and one of teh other top 5 being Wandsworth, down 3.7% in a month.

Despite TTRTR's assertions that his area 'will never fall' and 'he can't see any falls there', Wandsworth wasw officially down 3.7% last month alone, and likely 2% plus this month too (but lets not push THAT one yet - save it for next month eh?!)

So what has little ole TTRTR let slip over the last year?

* 'Anyone can do it' (as long as they are as clever as him, and have such a good business brain as him) because he started with 'only £2000'.

* This means he has pyramided upwards wildly, remortgaging his existing properties to provide deposits for new ones as and when he can.

* He claims to have stopped buying in 2002, so we can perhaps accpet his claim that he is only '65%' geared.

* He likes houses, not flats.

* He has 8 of them.

Which means, average house price in Wandsworth at the peak, £550,000.

A 3.7% fall = £20,350 per house last month alone.

* 8 houses = a LOSS of £162,800 last month alone

Ow.

Even assuming he has 5% mortgages, interest only, that works out at £11,916 per month interest only

Even if he can somehow get £2,000 a month per house, this leaves him only £49,000 a year in 'profit'. Hardly enough to keep a young inbred family in ruinously expensive Sweden, even ignoring pesky things like maintenance charges, repairs, voids, agents etc.

So we can safely assume that TTRTR's LOSS OF £162,800 last month was in no way compensated by any rental income.

In fact, last month wiped out the equivalent of over 3 years rental 'profit' for the poor little swedeboner. At this rate, he won't have ANY equity in 'his' properties by next March.

Ah, might have to sell a few of those Kiwi sheep, huh?!!!

Hope that helps, TTRTR, hope that helps. You REALLY do need to be appraised of your precarious financial position, even though you are obviously such an astute gambler excuse me 'businessman'.

Have a nice weekend!

note nice 3 bed house in SW11

here

Link to post
Share on other sites
  • Replies 64
  • Created
  • Last Reply

Top Posters In This Topic

Fair enough. I'd just like him to explain how if Wandswoorth fell 3.7% last month, he somehow miraculously didnt partake of those losses.

After all, he has been quick enough and repetitive enough to point out exactly how 'rich' he is when it was going his way...

If prices suddenly turned around and started going up again, there isnt a single bear on this board who would pretend otherwise. In fact there would be a 200 decibel collective groan audible from space...

Link to post
Share on other sites

From what I understand he is cash flow positive, and well so.

So falls in prices are going to have little effect on his strategy, as it should be if you are professionally into BTL.

If you're into BTL for the capital gain, and cash-flow negative, then you're stuffed.

To me he seems to have his bases covered, unless interest rates shoot up unexpectedly. That's his attitutude to risk, not mine.

Give it a break.

Link to post
Share on other sites
Fair enough. I'd just like him to explain how if Wandswoorth fell 3.7% last month, he somehow miraculously didnt partake of those losses.

He might deny the drop. He would rubb our noses it, 24/7 if the market suddenly took off.

Link to post
Share on other sites

Hi Walter (rash is underway)

Seek psychiatric help urgently. Just remember to take your big green monster along with you :D

KOTC

ps: remember to tell him about your £100,000 per week income delusion as well, might as well get your moneys worth :lol:

pps: I know your dole doesn't stretch very far, especially after your weekend alcho pop binge. So if all else fails at least try this book I've sourced for you, I've even gone to the bother of making sure the intelligence is at the right level for you ;) Good luck, you can beat this!

0316236535_big.jpg

Edited by King of the castle
Link to post
Share on other sites

Looks like KingOfTheC@cksuckers has become TTRTR's "Gimp". Too rich to even type his own replies is he, KOTSucker??

Or did YOU just take a £100,000 hit last month too, KOTC@cksuckers???

He he....!

REALLY bad time to be a landlord!

Pound in freefall, likeleyhood of rate cuts receding fast, tenants chasing rents down, and 3.7% falls in your borough in ONE month!

Jeez.

What could make it worse?

Oh, I know, people rubbing your nose in it. The very people whose noses YOU like to tweak on the other side of last year's market peak.

Get used to it, retard. Until ALL your equity is gone, and you have to wait about 12 years even to see last year's levels again, cos that's the reality... you won't see last year's prices again till 2017.

Hope that helps!

Link to post
Share on other sites
OK fvckwit.

Put your money where your mouth is.

[

Hey newbie!

Sorry about all this.

But these trolling estate agents MUST be flagged up.

Or this becomes the 'housepriceboom.co.uk' board.

From Wikipedia (http://en.wikipedia.org/wiki/Internet_troll)

"In the context of the Internet, a troll is a message that seems to at least one user to be inaccurate, inflammatory or hostile, which by effect or design causes a disruption in discourse. The word is also often used to describe a person posting such messages."

You seem very keen to keep this forum troll free, but by the above definition, it seems to me you are a troll too.

or as Wikipedia puts it:

"As a pejorative, the term "troll" is very often a slander of opponents in heated debates. People who identify as trolls and those who vehemently deny that they are trolls will both use the term, often making it obvious to all neutral third parties that both participants are, in fact, trolls: one who admits it, and one who does not. Accordingly the view has arisen in some circles that trolls, the plural, is a valid term, but that it is not valid to refer to someone as an Internet troll on their own. In other words, it takes two to troll, and once they do, they're two trolls."

It takes two to troll and KOTC and you CIUW (and TTRTR) are doing a good job.

So get off your high horses.

One last thing from Wiki:

"Motivations for trolling. Amusement: To some people, the thought of a person getting angry over statements from total strangers is entertaining"

Is that your real motivation? You and TTRTR and KOTC are certainly easy to laugh at.

I'll stop there as by posting this reply I am of course decsending to your level and opening myself to accusations of trolling myself.

Hope that helps.

B.

Link to post
Share on other sites

That's right, horse boy. Me & King of The Closet are actually good buddies, doing all this just to amuse pathetic little saddos like you.

Now f*ck off. I want TTRTR to reply to the original question, not get into arguments with someone like YOU over whether or not Wikipedia is a good reference source.

BTW, if you want to start a thread of your very own, newbie, the button at the top of the screen marked 'Mew Topic' might just help u out there.

Edited by CrashIsUnderWay
Link to post
Share on other sites

How about moving this to the off topic page? Then we would not have to keep seeing it.

TTRTR may be deluded about certain things and excessively smug, but he must be having a good laugh at seeing you so worked up.

By the way, you can give me ten grand for safe-keeping if you want.

Link to post
Share on other sites
Guest magnoliawalls
Looks like KingOfTheC@cksuckers has become TTRTR's "Gimp". Too rich to even type his own replies is he, KOTSucker??

Oh well, this pathetic little twerp has just become the first poster I have put on ignore.

Perhaps TTRTR has done the same.

Link to post
Share on other sites
That's right, horse boy. Me & King of The Closet are actually good buddies, doing all this just to amuse pathetic little saddos like you.

Now f*ck off. I want TTRTR to reply to the original question, not get into arguments with someone like YOU over whether or not Wikipedia is a good reference source.

BTW, if you want to start a thread of your very own, newbie, the button at the top of the screen marked 'Mew Topic' might just help u out there.

You've had my reply before but seem to haveblocked it out of your mind, not hard to do I guess when you seem to spend your days finding new ways to swear. I on the other hand have things to do and can't always be here to help you with your troubled mind.

Link to post
Share on other sites

I can find as many new ways to insult you, TimeToBragAboutMySupposedBusinessAccumen, as you can find to LIE about your supposed 'success'.

Your link is out of date. Last month your very own borough lost a TON of money. Posting old graphs wont change that.

Down the pan you go, swedeboner. Flushed with success? Or flushed down the toilet? We all know the answer (except closet bull 'MagnoliaBalls').

Link to post
Share on other sites

I like these forums because the good threads stay high, the dross sinks to the bottom, that's how it should be. Forum Market Forces, I guess.

CIUW amuses me, people can ignore these threads if they wish, they'll die.

How To Lose £162,800 A Year

The point o the thread is quite funny. A very unpleasant landlord taking a nice hefty hit on his capital. I find it quite uplifting.

Link to post
Share on other sites
I can find as many new ways to insult you, TimeToBragAboutMySupposedBusinessAccumen, as you can find to LIE about your supposed 'success'.

Your link is out of date. Last month your very own borough lost a TON of money. Posting old graphs wont change that.

Down the pan you go, swedeboner. Flushed with success? Or flushed down the toilet? We all know the answer (except closet bull 'MagnoliaBalls').

Just 1 correction for you BTW. After thie past 12 months amazing HPI (totally unexpected given the media etc), my LTV is now under 55%.

Terrible business this landlording stuff, for you it is anyway! :lol::lol:

Link to post
Share on other sites
Just 1 correction for you BTW. After thie past 12 months amazing HPI (totally unexpected given the media etc), my LTV is now under 55%.

Terrible business this landlording stuff, for you it is anyway!  :lol:  :lol:

In five years time, after the 40% falls (8% or so per year) will have been completed, your LTV will be near 100%. Granted, you will still have the rental yield, but you will be unable to sell your portfolio and have a retirement fund. This means you will have to continue working as a landlord for a significant number of years.

TTRTR, you have made the biggest mistake of your lifetime; you could have sold up in 2004 and that would have brought forward your retirement by many years. Now you are going to be stuck with an ever declining asset. You are not realising it now, but you will in 10 years' time.

Link to post
Share on other sites
In five years time, after the 40% falls (8% or so per year) will have been completed, your LTV will be near 100%.  Granted, you will still have the rental yield, but you will be unable to sell your portfolio and have a retirement fund.  This means you will have to continue working as a landlord for a significant number of years. 

TTRTR, you have made the biggest mistake of your lifetime; you could have sold up in 2004 and that would have brought forward your retirement by many years.  Now you are going to be stuck with an ever declining asset.  You are not realising it now, but you will in 10 years' time.

With comments like that it's very easy to see that you have little idea of what you're talking about.

A person in my position (retired or self employed, you name it) wouldn't sell the golden goose keeping them self employed because the payment they receive wouldn't return them the same return whilst simutaneously growing their stake.

You will say I'm wrong because prices will fall etc etc & I will say I've heard it for 9 years now & so far I've been right & people like you have been wrong.

Simple as that.

Link to post
Share on other sites
With comments like that it's very easy to see that you have little idea of what you're talking about.

A person in my position (retired or self employed, you name it) wouldn't sell the golden goose keeping them self employed because the payment they receive wouldn't return them the same return whilst simutaneously growing their stake.

You will say I'm wrong because prices will fall etc etc & I will say I've heard it for 9 years now & so far I've been right & people like you have been wrong.

Simple as that.

Just be careful you are not a one trick pony. Out of interest, have you been in this game since 1992? Are you familiar with the effects of a crash?

Must say in Headingley which is prime time rental in Leeds, even the most established - always rented - by an old timer landlord, have been coming on the market for sale for the past year. I doubt these guys are highly geared. Maybe they are selling to get £xx for property nd buy something similar in a couple of years for 1/2 the price, therefore expanding their portfolio the easy way. Must beat 16k x 2 (average touted return times 2 years).

Link to post
Share on other sites

I must say it sounds a great idea you HPC twerps!

Sell a 8 property portfolio and cash in say £1.6million or so. Or don't sell and keep £2million in equity rather than cash and have a 60k - 70k income on top!

Not hard really is it? And prices in Wandsworth have dropped 3.7% have they. Right is that every single property? Is it possible that TTRTR has a decent portfolio which is less susceptible to capital losses? Indeed a portfolio of desirable properties that hold their value and have a good rental yield.

I do not predict a crash but even if TTRTR loses 1 million of his 2 million equity he still has a good income and guess what!?!?!?!? Still a million pounds more than you losers that don’t have the guts to invest!

Link to post
Share on other sites

dont get me wrong TTRTT. i dont know you. i dont know if your story is a load of bull and made up. if it true and you own 8 properties like crashy says. you can see yourself the housing games dead and gone past the peak.

i am sure it would have been better to have cashed in on the peak and sold part of your stock. only to re-buy back it post crash banking the gains. ?

how come your clinging to such faint hopes of a housing turnaround ? why didnt you sell off a third of the stock when they were peaking ? i cant see what gain you getting from watching them fall for the next 5 years.?

im not having a go. im just wondering what your plan was.

Link to post
Share on other sites

I believe TTRTR has his portfolio in Wandsworth, much around SW11. I posted this on another thread but it may be of interest to all, especially people who think BTL is going to make them rich:

If you have a closer look at the land registry figures you will see that the average price of a flat in SW11 has fallen from £309193 to £279934, since last year.

That's a 9.5% FALL in the last quarter of last year, to the first quarter of this year (ie 3 months)

That's an annualised 38% fall.

What has also happened is a collapse of sales volumes of flats from 292 to 165, while the volumes of houses have held steady.

So the nett effect is to make it appear that prices have gone up.

Very interesting.

Another thing:

I have lived in this area for 3 years now. I can tell you personally that people will take 10% less than they took last year. I guess you could say it's a good time to buy, but I think we're on the top of a very slippery slope.

You may have missed this article (you were in Sweden?) from "The Economist", about the collapse of the world-wide housing bubble.

It's worth a read if you missed it...

http://www.economist.com/opinion/displaySt...tory_id=4079027

Edited by BandWagon
Link to post
Share on other sites
dont get me wrong TTRTT. i dont know you. i dont know if your story is a load of bull and made up. if it true and you own 8 properties like crashy says. you can see yourself the housing games dead and gone past the peak.

i am sure it would have been better to have cashed in on the peak and sold part of your stock. only to re-buy back it post crash banking the gains. ?

how come your clinging to such faint hopes of a housing turnaround ? why didnt you sell off a third of the stock when they were peaking ? i cant see what gain you getting from watching them fall for the next 5 years.?

im not having a go. im just wondering what your plan was.

My plan has always been to stick with freehold shared houses & to definitely not listen to doom mongers. So far that's worked very well.

Click here, take a look, then let me know why you think I would have been better off selling when HPC posters were saying we were at a peak?

And that link was supplied courtesy of another poster, but the fact is that I can easily see (by checking the market) in my area that prices for the type of proerty that I own, freehold terraced houses in SW11, have continued to grow, despite the softness of areas that I've stayed well away from, like 2 bed new builds.

Link to post
Share on other sites
I believe TTRTR has his portfolio in Wandsworth, much around SW11. I posted this on another thread but it may be of interest to all, especially people who think BTL is going to make them rich:

If you have a closer look at the land registry figures you will see that the average price of a flat in SW11 has fallen from £309193 to £279934, since last year.

That's a 9.5% FALL in the last quarter of last year, to the first quarter of this year (ie 3 months)

That's an annualised 38% fall.

What has also happened is a collapse of sales volumes of flats from 292 to 165, while the volumes of houses have held steady.

So the nett effect is to make it appear that prices have gone up.

Very interesting.

Another thing:

I have lived in this area for 3 years now. I can tell you personally that people will take 10% less than they took last year. I guess you could say it's a good time to buy, but I think we're on the top of a very slippery slope.

You may have missed this article (you were in Sweden?) from "The Economist", about the collapse of the world-wide housing bubble.

It's worth a read if you missed it...

http://www.economist.com/opinion/displaySt...tory_id=4079027

A fall in volume means an absence of statistics, not that higher volume would show you're right. I agree with you that flats in SW11 are cheaper than they were, but not houses.

Use the link in the previous post to see the impact a fall in volumes can have on statistics. The 1st Qtr 2005 stat was on a reduced volume.

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 442 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.