Jump to content
House Price Crash Forum
Sign in to follow this  
Spoony

Look At This Moron On Singing Pig

Recommended Posts

"hi all.

i wonder if someone on this knowledgable board can help me out, pls?

i have a small btl portfolio of just 4 properties, worth in total, at todays prices, approx £240k.

their mortgages in total are £185k, so that leaves around £55k equity in them according to my maths.

i want to buy 1 or 2 more now that prices are quite low, but have no cash at all, and no income coming from employmnet either, as i was made redundant after just 3 mths in a firm (quite clever, as they never had to pay me off etc!).

is there any way i can release the equity in the properties, please?

any ideas, pls?"

http://www.singingpig.co.uk/forums/thread/817057.aspx

I wondered if they are going mad over there for property but it seems to be mainly idiots like this on there.

Share this post


Link to post
Share on other sites
"hi all.

i wonder if someone on this knowledgable board can help me out, pls?

i have a small btl portfolio of just 4 properties, worth in total, at todays prices, approx £240k.

their mortgages in total are £185k, so that leaves around £55k equity in them according to my maths.

i want to buy 1 or 2 more now that prices are quite low, but have no cash at all, and no income coming from employmnet either, as i was made redundant after just 3 mths in a firm (quite clever, as they never had to pay me off etc!).

is there any way i can release the equity in the properties, please?

any ideas, pls?"

http://www.singingpig.co.uk/forums/thread/817057.aspx

I wondered if they are going mad over there for property but it seems to be mainly idiots like this on there.

obviously the guy is trolling singing pig.

No job, no income and he wants to buy 2 properties with what?

Share this post


Link to post
Share on other sites
obviously the guy is trolling singing pig.

No job, no income and he wants to buy 2 properties with what?

stop knocking his go get'em entreprenuerial spirit...he's got off his fat 4rse and trying to make it in the business world....bless

Share this post


Link to post
Share on other sites
Guest Parry aka GOD
stop knocking his go get'em entreprenuerial spirit...he's got off his fat 4rse and trying to make it in the business world....bless

Lest we forget the cause of this national mental illness. Brown's raids and demolition job on private pension funds, the same funds that funded R&D in British industry which provided those pensions.

Joe Public scrambled to find an alternative. Thought the only option was bricks and mortar.

Share this post


Link to post
Share on other sites
Lest we forget the cause of this national mental illness. Brown's raids and demolition job on private pension funds, the same funds that funded R&D in British industry which provided those pensions.

Joe Public scrambled to find an alternative. Thought the only option was bricks and mortar.

not many beach huts made of bricks and mortar.

Share this post


Link to post
Share on other sites
"hi all.

i wonder if someone on this knowledgable board can help me out, pls?

i have a small btl portfolio of just 4 properties, worth in total, at todays prices, approx £240k.

their mortgages in total are £185k, so that leaves around £55k equity in them according to my maths.

i want to buy 1 or 2 more now that prices are quite low, but have no cash at all, and no income coming from employmnet either, as i was made redundant after just 3 mths in a firm (quite clever, as they never had to pay me off etc!).

is there any way i can release the equity in the properties, please?

any ideas, pls?"

http://www.singingpig.co.uk/forums/thread/817057.aspx

I wondered if they are going mad over there for property but it seems to be mainly idiots like this on there.

Looks like a wind up :lol:

Share this post


Link to post
Share on other sites
Think so, but funny either way. Anyone replied at all? I'd look myself, but I'd feel dirty.

Blimey, two responses and one worringly sensible:

"i think you need to concentrate on getting a regular income to make some money to invest rather than trying to spend money you do not have"

Share this post


Link to post
Share on other sites

Makes perfect sense for an unemployed person with no money:

- an income so long as (s)he gets away with it

- a bailout when it fails

- zero risk of being worse off than if they just did nothing

Wonder who'll give them a mortgage these days?

Share this post


Link to post
Share on other sites
Lest we forget the cause of this national mental illness. Brown's raids and demolition job on private pension funds, the same funds that funded R&D in British industry which provided those pensions.

Joe Public scrambled to find an alternative. Thought the only option was bricks and mortar.

Thankyou for bringing this up. It is worth remembering that for every horrible BTL spiv there is also someone coming up to retirement who saw their pension fund crumble and thought a rental flat was the solution to their money worries.

Share this post


Link to post
Share on other sites
Very dangerous.

He should be looking to sell, and extract his equity, before rates climb,

and it evporates

I think I might change to being a bull. Its not that I think house prices should rise, no , far from it.

Its that I think people are so stupid, and will saddle themselves with massive debts for years and years. I just think this market refeclts the stupidity of our people, and I predict they will still be stupid in 3 years, 5 years and 10 years.

The crash is off as far as Im concerned.

Edited by Johnny Storm

Share this post


Link to post
Share on other sites

Since this guy is NINJA if you exclude his 4 BTLs I don't think extracting his equity would be a good idea - it might compromise his benefits situation. Don't forget he can get Jobseekers, then after 13 weeks his mortgage up to £200K will be paid. He wouldn't want to do anything to miss out on that. ;)

What he should be doing is tranfering all his debt to his main residence so when mortgage rescue kicks in it will pay the lot.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   285 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

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.