They're All At It!

[guitarman001]

Couple months ago the girlfriend was selling the fireplace. Some tradesman came round to buy it, said he had several buy to lets in tow which really brought the profit home.

Then tonight... somebody I know who's father lives in a VERY impressive and expensive looking house with a flash car... by day he is a lorry manager for a reputable company. But that wouldn't cut it from my calculations. Today I found out he has three buy-to-lets... which he lets out TO HIS OWN RELATIVES! Is is just me or is that evil and sinister? EVERYBODY is at it! And what's more, it seems that it's working out for these people!! I am so angry!!

Edited March 5, 2011 by guitarman001

[Si1]

calm before the storm mate, IR resets, margin calls

[J-Hi]

If you can't beat them, join them. Don't get angry, get even!

I've come to the conclusion if the Coalition and BoE are determined to try and inflate us out of debt I might as well buy and benefit as well, rather than slowly self combust with righteous anger...

[neil324]

I was on a Thailand, whoring forum last night. The subject of living in Thailand permanent came up, someone mentioned owning 2 buy to lets outright that generated 50000 Thai Baht a month, which at the current exchange rate is £1k Sterling. And yes i did say 'whoring'.

[Van]

Guy who works next to me is trading up in Brighton.. he's buying the house.. FROM HIS DAD.

[longtomsilver]

I was on a Thailand, whoring forum last night. The subject of living in Thailand permanent came up, someone mentioned owning 2 buy to lets outright that generated 50000 Thai Baht a month, which at the current exchange rate is £1k Sterling. And yes i did say 'whoring'.

Friend of mine bought a place in Pattaya Thailand, 3 bed house for £16k 5 years ago when he was working in afghan and he wanted to keep his money out of the uk now he's living in columbia renting said place for £300 a month. It looked identical the kind of new builds they put up in UK

[neil324]

Friend of mine bought a place in Pattaya Thailand, 3 bed house for £16k 5 years ago when he was working in afghan and he wanted to keep his money out of the uk now he's living in columbia renting said place for £300 a month. It looked identical the kind of new builds they put up in UK

Nice location

£300 a month that's about 15000 Thai Baht, seems fairly cheap for a 3 bed house, must out on the dark side away from the centre. Great yield though.

Seems cheap at £16k, Thailand has also had a property bubble.

[bergkamp N4]

Through my friends brother who owns a letting only agency in Clapham SW London he tells me that John Terry owns 31 rental flats in the area that he manages.

I asked why 31? ...... so that in theory can get a rent payment every day of the month. Obvious!

My neighbour who is a GP tells me that his colleague rents his place in East London of ©Ashley Cole.

Remember reading that Wayne Bridge whilst at Chelsea was buying a house in Southampton once every 3 weeks. These houses were then refurbed by his Father and let/managed by his Brother. He now has his wages paid by Man City so he probably earns more.

When Frank Lampard was with West Ham he invested heavily in frontline St Katherines Dock.

A girl I used to see works for upmarket mortgage brokers told me over the weekend that a current injury prone West Ham player (ex Arsenal, Fulham) has put down £1.5 mil deposit and taken out 10 mortgages with her firm. I asked why not just spend his bonus on 2 or 3 high end London properties be mortgage free and collect monthly rents was told he wanted access to cash and not have it ALL tied up.

There are of course loads of other examples of professional players investing in property and these guys earn very well. It is a short career but provided they can remain serious injury free they retire wealthy youngish men.

So my point is they will probably never need to sell.

[Lagarde's Drift]

Dunno, but at that level I can think of far safer things than high-end property. I mean, I wouldn't mind having one or two properties but as part of a fully diversified portfolio that may include offshore holdings. Certainly wouldn't take out humungous mortgages that relied on future (extremely high) income.

Edit: To the OP, yup they are ALL at it. Ask around, your receptionist or tea lady probably has a BTL or two. Base rates surely will not be allowed to rise regardless of the impact.

Edited March 8, 2011 by Cash with Nowhere to Go

[Pent Up]

I was on a Thailand, whoring forum last night. The subject of living in Thailand permanent came up, someone mentioned owning 2 buy to lets outright that generated 50000 Thai Baht a month, which at the current exchange rate is £1k Sterling. And yes i did say 'whoring'.

Link??

[Si1]

So my point is they will probably never need to sell.

whether they need to sell or not is irrelevant, house prices will still fall in the end, extra especially if inflated by innumerate rich amateurs

[The Masked Tulip]

Today I found out he has three buy-to-lets... which he lets out TO HIS OWN RELATIVES! Is is just me or is that evil and sinister? EVERYBODY is at it! And what's more, it seems that it's working out for these people!! I am so angry!!

Not some social housing benefit scam is it? Read about a few people who have ended up in jail doing that but apparently it is so common they simply can't catch let alone trial them all.

[neil324]

Link??

What would the girlfriend say?

[Ceinwyn]

I was on a Thailand, whoring forum last night. The subject of living in Thailand permanent came up, someone mentioned owning 2 buy to lets outright that generated 50000 Thai Baht a month, which at the current exchange rate is £1k Sterling. And yes i did say 'whoring'.

Sounds strange. My brother lived in Thailand for 12 years and from what I understand, foreigners are not easily allowed to buy property (or own companies for that matter) in Thailand. There also seems to be a trend to keep foreigners in specific areas of the cities. I think the authorities would make it very hard for foreigners to acquire BTL properties as this is a market that can easily be filled by Thai people.

[neil324]

Sounds strange. My brother lived in Thailand for 12 years and from what I understand, foreigners are not easily allowed to buy property (or own companies for that matter) in Thailand. There also seems to be a trend to keep foreigners in specific areas of the cities. I think the authorities would make it very hard for foreigners to acquire BTL properties as this is a market that can easily be filled by Thai people.

He never said where they was, but the term 'buy to let' was coined by the British so was guessing they was in England.

Regards Thailand, foreigners can buy apartments outright and legally as long it's inside the 49% share of the building, the rest must be Thai owned. As foreigners are not legally allowed to buy land they are not meant to buy houses. But there is a loop hole where if you set up a small bogus company you buy the land threw the company. Many foreigners do this. Given the kangaroo type nature of Thai politics this is risky and the loop can be clamped down on at any time. Anyone can BTL in Thailand and taxes are not often collected either.