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Who on this forum, aged between 30-40, has a school friend that has made a mint from BTL?

Be totally honest now.

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A friend of mine, 34, bought a flat in West London for 70k about 6 years ago.

He now has 2 BTLs, one in SE London, near where the new developments for the Olympics are being built.

I met him last week down by the Thames and we had a chat about it.

Surprisingly he is actually making a loss on the BTLs because the rents don't cover the mortgages, but of course the HPIs have meant all his flats have doubled in value.

He is sensibly cashing in on the West London flat with a 70k profit.

He is a lovely bloke, a teacher, and has indeed made a mint!

Shame I STRd and blew the lot!!!

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Shame I STRd and blew the lot!!!

How did you manage to blow the lot, maybe you could give some advice to fellow STR'ers on this board who have a lot of money burning a hole in their pocket.

I know of people who STR have 40k in the Bank earning interest, yet have over 40k in other personal debts. Its a strage logic.

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How did you manage to blow the lot, maybe you could give some advice to fellow STR'ers on this board who have a lot of money burning a hole in their pocket.

I didn't make a massive amount - 30k - and after clearing up my finances, leaving 20k, which I spent 10k chasing women and 10k on a round the world trip!

I don't feel too bad either - the couple in the house are now sitting on 30k equity themselves!

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:P:P

Who on this forum, aged between 30-40, has a school friend that has made a mint from BTL?

Be totally honest now.

[/i have made made a fortune out of buy to let mainly selling the dream, the reality for the end investor has not been so sweet in a lot of cases, they have been left with empty property that they paid to much for]

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but of course the HPIs have meant all his flats have doubled in value.

You mean doubled in price, not value. They are two very different things.

If people could see the difference, they would realise how the government's con works.

Sadly, as you demonstrated, most don't know or don't care to notice.

This country is doomed.

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  • 339 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%



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