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Just got back from viewing a flat in wanstead East London. Its actually a really nice area with good tube links. Unfortunately the flat wasnt for us, but the estate agent told us that frank lampard and his dad had been to look at it earlier and offered 45k under the asking price. Apparently he owns around 200 properties in the area..nice to know he is contributing to the housing shortage!

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What is this apparition that I see before me?

Or is that a bad green screen, that they used, and they forgot to add a background ?

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Just got back from viewing a flat in wanstead East London. Its actually a really nice area with good tube links. Unfortunately the flat wasnt for us, but the estate agent told us that frank lampard and his dad had been to look at it earlier and offered 45k under the asking price. Apparently he owns around 200 properties in the area..nice to know he is contributing to the housing shortage!

Greed knows no limit with some people. I hope they get badly burned.

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What is this apparition that I see before me?

Or is that a bad green screen, that they used, and they forgot to add a background ?

...or bad lighting?

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Frank should have went to view with that bankrupt fella from location x 3, then he could have secured the desirable property with a sensible 10% over the asking price offer, before some savvy buyer snaps it up.

you would think if they had 200 properties they'd be selling up now and investing in something a lot less risky.

Edited by TheCountOfNowhere

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In fairness he will probably be buying cash. At least he's using money he's been taxed on and earned rather than getting a bank to magic it for him. When all is said and done he will be left with a few postcodes worth of unleveraged unmortgaged london property.

Saying that, sounds a bit farfetched... I doubt Frank goes to his own viewings, probably doesn't need his dad there either.

Lampard is also one of the few level headed ones.

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In fairness he will probably be buying cash. At least he's using money he's been taxed on...

Thats some assumption.

Are footballers on PAYE or do they work as contractors/ltd companies ?

If so then the company might be buying the flats, no tax paid !!!

You'd need to ask frank about that to get the definite answer.

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Don't footballers usually end up going bust? Don't see why this will be any exception. Loads (200) of highly leveraged London properties are record bubble prices.

When work falls away and the bills are due it will all go pop.

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Don't footballers usually end up going bust? Don't see why this will be any exception. Loads (200) of highly leveraged London properties are record bubble prices.

When work falls away and the bills are due it will all go pop.

You beat me to it....... As it was in Dubai....... This is excellent news...... Leading indicator...... Buy-to-let officially on it's last legs :D,

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Don't footballers usually end up going bust? Don't see why this will be any exception. Loads (200) of highly leveraged London properties are record bubble prices.

When work falls away and the bills are due it will all go pop.

I vaguely remeber reading it's quite a high number.

That's probably your poor man's footballer though, them that only earns £1-2M a year for for 8 years, spank a load of it, buy a house they cant afford with £0 per month coming in, wife divorces them etc.

Me thinks, frank lampard and his £10-£20M a year is in a whole different league.

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Lampard is also one of the few level headed ones.

How so ? If he is buying flats in east london at 2007+50% bubble prices, do you think that is wise for anyone right now ?

Level headed, easily lead more like if this is the case.

It'#s that whole, easy money, you cant loose on property, london is different, look at my property portfolio etc etc etc.

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I believe they have to be PAYE on their salaries and appearance fees, goal bonuses etc because the FA outlaws any third party ownership of a player.

They probably get their image rights and other contracts paid through a ltd company.

As above, Frank lampard could buy a couple of flats in cash, after tax, every month. Someone that has done a couple of years in the Premier League and thinks they're an "investor" are the ones that usually get into trouble.

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How so ? If he is buying flats in east london at 2007+50% bubble prices, do you think that is wise for anyone right now ?

Level headed, easily lead more like if this is the case.

It'#s that whole, easy money, you cant loose on property, london is different, look at my property portfolio etc etc etc.

Ok, relatively level headed. As in as far as I know he doesn't spunk it (as much as others) on nightclubs, hookers and casinos, or wiping his **** with twenties like some.

If you were bringing in 150k a week in cash, what else are you going to do it?

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I believe they have to be PAYE on their salaries and appearance fees, goal bonuses etc because the FA outlaws any third party ownership of a player.

Think again:

https://www.accountancylive.com/employee-benefit-trusts-fallout-rangers-case

http://www.independent.co.uk/sport/football/news-and-comment/taxman-turns-trustbuster-as-clubs-feel-the-ebt-squeeze-7079643.html

http://www.telegraph.co.uk/sport/football/news/9082870/Premier-League-sides-forced-to-pay-back-millions-of-pounds-in-tax-after-crackdown-on-image-rights-deals.html

Id be very surprised if a footballer, on a 3 year contract worth £10M per annum, is a PAYE memeber of staff.

This is the sort of thing all the celebs have been doing to to avoid paying tax.

I even rememebr some of the public sector leeches switching to contracts so they could be more "tax efficient".

Edited by TheCountOfNowhere

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Ok, relatively level headed. As in as far as I know he doesn't spunk it (as much as others) on nightclubs, hookers and casinos, or wiping his **** with twenties like some.

If you were bringing in 150k a week in cash, what else are you going to do it?

Me, personally, i'd spunk it on fast cars, wine, women and song....what ever was left, I would waste.

:lol: :lol: :lol: :lol:

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Ok, relatively level headed. As in as far as I know he doesn't spunk it (as much as others) on nightclubs, hookers and casinos, or wiping his **** with twenties like some.

If you were bringing in 150k a week in cash, what else are you going to do it?

Buy a farm?

Then he could farm livestock instead of people.

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Footballers seem to be the most wretched managers of money.

How often do you hear one whining that their career ends at 35 and they have to find another way of making money. WHY??

I could understand this in the 1970s when footballers earned relatively normal wages, or in other sports where players still do, but these guys earn crazy money.

Lampard earned £150k a week at Chelsea and is now on £200k a week at City. He earns more in a month than the average person will earn in a lifetime. This ignores sponsorships as well.

I know that housing is seen as a one way bet these days, but why risk a fantastically wealthy lifestyle by gambling to get even more money?

If I had £50m (or whatever) in the bank, there is no way I'd be traipsing around East London with my Dad trying to pick up properties at 'bargain' prices. Why would I bother?

I totally understand why people on normal salaries have given up work to become amateur developers because the returns in the last 10 years have been ludicrous compared to what you can earn doing most jobs, but if multi-millionaires feel they have to do it as well, we are in serious trouble.

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Think again:

https://www.accountancylive.com/employee-benefit-trusts-fallout-rangers-case

http://www.independent.co.uk/sport/football/news-and-comment/taxman-turns-trustbuster-as-clubs-feel-the-ebt-squeeze-7079643.html

http://www.telegraph.co.uk/sport/football/news/9082870/Premier-League-sides-forced-to-pay-back-millions-of-pounds-in-tax-after-crackdown-on-image-rights-deals.html

Id be very surprised if a footballer, on a 3 year contract worth £10M per annum, is a PAYE memeber of staff.

This is the sort of thing all the celebs have been doing to to avoid paying tax.

I even rememebr some of the public sector leeches switching to contracts so they could be more "tax efficient".

Some of the senior bods at hmrc did exactly this.

This country is corrupt to the core.

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The Tottenham Hotspur Landlords are playing the Arsenal Landlords tomorrow. Later on the Aston Villa Landlords play the Chelsea Landlords.

None of them put as much effort in as they used to a few years ago but they have to take to the pitch in case of voids you know.

Edited by billybong

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It's not just footballers. In the Telegraph's Fame and Fortune column you'll find all sorts of sports people ramping property as investment...

Virginia Wade:

I own an apartment in New York where I spend most of the year, a gated flat in Fulham, a family home in Kent and a villa in Barbados which I rent out, although the running costs far exceed the rental income. Thankfully, I am mortgage-free. I used to hold investment properties in the UK, and one of my most successful was in London. In 1977 I bought a building with Bjorn Borg and the sports agent Mark McCormack in Marylebone High Street, with flats on the two top floors and shops on the bottom. I can’t remember what we sold it for in the early Eighties, but it was a very good investment.

Derek Chisora - boxer

I own a couple of properties but I’m focused on the boxing right now. Before I used to do car rentals but I was just wasting my money. I don’t bother with anything other than houses now.

Laura Trott - Olympic cyclist:The best would be buying my flat in Manchester city centre, which I’m currently renting out. I’d rather not say how much I paid for it but it was a good decision as I’m making earnings from the flat. As for bad investments, I haven’t invested in anything yet apart from the flat. I own the flat, and Jason and I have got a house separate to that.

A scroll through Fame and Fortune reveals no shortage of sports people.....

One non-sportsman that really provoked a bitter smile was anti-capitalist Michael Moore, whose finances came into the open during a recent divorce..

Moore’s impressive property portfolio was laid bare during divorce proceedings from his wife of 22 years, Kathleen Glynn.

The political controversialist finalised his split from 58-year-old Glynn on Tuesday in a US court in northern Michigan, where the couple owns a £1.2m lakeside home.

The 10,000 square-foot luxury pad is one of nine properties belonging to the couple, who wed in Flint, Michigan, in 1991.

Moore shares his time between his home state and New York City, where he owns a Manhattan apartment.

Edited by juvenal

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It's not just footballers. In the Telegraph's Fame and Fortune column you'll find all sorts of sports people ramping property as investment...

The thing is, as long as you're not dumb enough to buy near the top of a cycle on leverage (and then a forced seller during a bust), property generally is a good place to park large amounts of income.

If you've got large amounts of money coming in on a regular basis (celeb/sports person) then as long as you aren't totally clueless, buying property for cash will likely pay off for you over a decade or longer of doing so.

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