Jump to content
House Price Crash Forum
overlander

Btl Scum Regrouping And On The Offensive. -- Merged

Recommended Posts

I mean look at the state of this...

It was posted at half eleven on a Saturday night. I think that’s probably all we really need to know.

Share this post


Link to post
Share on other sites
7 hours ago, Lavalas said:

National Landlord Alliance Ltd*

*why is it ‘ltd’?#

It's been set up as a Private Limited Company.

This quickly gets very interesting.  Although this initiative presents itself on 118 as being established just in the last few days, Mr Sweeney in fact registered this company as long ago as July 2015, and it was listed as "dormant" during 2016 and 2017:

https://beta.companieshouse.gov.uk/company/09686851/filing-history

Share this post


Link to post
Share on other sites
2 hours ago, Dyson Fury said:

It's been set up as a Private Limited Company.

This quickly gets very interesting.  Although this initiative presents itself on 118 as being established just in the last few days, Mr Sweeney in fact registered this company as long ago as July 2015, and it was listed as "dormant" during 2016 and 2017:

https://beta.companieshouse.gov.uk/company/09686851/filing-history

Thank you. I did have a quick look but at Larry not Laurence. Sounds like he’s had a couple of years to plan his approach. Impressive stuff so far.

Share this post


Link to post
Share on other sites
11 hours ago, Lavalas said:

Here’s a sample of the first output from the ‘National Landlord Alliance’ that they’re all getting excited about over on 118.

A hard hitting twitter account, telling it like it is, end of.

Should be some good comedy in the pipeline here from ‘Nial’.

That account is already brilliantly funny and it's barely been up a day!

I'm guessing there is an explanatory story in the 'discord' and 'strife' :D

 

 

Share this post


Link to post
Share on other sites

The firesale starts:

https://www.propertytribes.com/tax-bill-in-january-t-127636858.html

Quote

My accountant has told me what my self assessment tax bill is going to be in January, my dilemma is this, the only way i am going to be able to afford the bill is by selling one of my Properties to release the equity.

With just 3.5months before the bill is payable, can i ask which method of sale would you recommend, high street estate agent or auction? If the agency route, how long should I give it and does anyone have any tips?

Oh dear.

Share this post


Link to post
Share on other sites
10 minutes ago, oatbake said:

Oh dear.

Love it! nothing like only a few months notice for these feck-wits. not sophisticated investors at all! 

we have been counting down for about 2 years now. anyone who cared to event having a passing interest in their own affairs could of known this was coming 

Share this post


Link to post
Share on other sites
19 minutes ago, Captain Kirk said:

"my dilemma is this, the only way i am going to be able to afford the bill is by selling one of my Properties to release the equity."

Hope he/she has factored in any CGT or she's going to get another shock soon...

Share this post


Link to post
Share on other sites
1 hour ago, oatbake said:

Hope he/she has factored in any CGT or she's going to get another shock soon...

Unfortunately Vanessa Warwick has spoilt the fun on that one by mentioning it, so the cat's out of the bag.

 

Share this post


Link to post
Share on other sites
2 hours ago, jiltedjen said:

Love it! nothing like only a few months notice for these feck-wits. not sophisticated investors at all! 

we have been counting down for about 2 years now. anyone who cared to event having a passing interest in their own affairs could of known this was coming 

Yes and even before your wonderful thread, we've been anticipating reading things like this since July 2015. :D :D:D

 

Share this post


Link to post
Share on other sites
6 hours ago, mrtickle said:

Unfortunately Vanessa Warwick has spoilt the fun on that one by mentioning it, so the cat's out of the bag.

 

I wonder if the accountant has included the first half of next years bill in the January payment or just the figure he’s calculated for the self assessment.

Share this post


Link to post
Share on other sites

i knew the days would come when we start to see 'oh dear i seem to have fecked up' threads coming from the morons of the BTL 'community'

utter joy! 

bring on the stories for January

Share this post


Link to post
Share on other sites

DOES ANYONE HAVE ANY TIPS???

 

just bang the rents up on the prop you’re gonna sell, adds instant equity as the lucky investor who you’ll be selling to at a premium will be snapping your hand off for your amazing yields 🧐

Share this post


Link to post
Share on other sites
2 minutes ago, thewig said:

DOES ANYONE HAVE ANY TIPS???

 

just bang the rents up on the prop you’re gonna sell, adds instant equity as the lucky investor who you’ll be selling to at a premium will be snapping your hand off for your amazing yields 🧐

Another tip.

Don’t sell just borrow more on the ever expanding and increasing values of the property values. No problemo. 😉

Share this post


Link to post
Share on other sites

well there we go, an actual FORCED seller. The thing is this on a countrywide scale will mean a LOT of forced sellers, and again prices are set at the margins.

Anyone who has left their powder dry can take advantage of these cheapo houses. 

what morons get themselves into a situation where they are forced to sell a very iliquid asset on a very short term time horizon, past peak selling months?

and the wonderful thing is, most wont even of bothered to have an accountant, as there is no tax to pay anyway is there? lol!

tax demand letters are going to be a mighty shock. Also i'm surprised this person is not a little angry at their accountant, surely they should of flagged the changes up 2 years ago? spelled it out clearly, or is that not how they work? 

do they just work tax year to tax year, or by appointment to appointment? its not like a solicitor going out of their way to tell you something concerning?

Share this post


Link to post
Share on other sites
1 hour ago, jiltedjen said:

well there we go, an actual FORCED seller. The thing is this on a countrywide scale will mean a LOT of forced sellers, and again prices are set at the margins.

Anyone who has left their powder dry can take advantage of these cheapo houses. 

what morons get themselves into a situation where they are forced to sell a very iliquid asset on a very short term time horizon, past peak selling months?

and the wonderful thing is, most wont even of bothered to have an accountant, as there is no tax to pay anyway is there? lol!

tax demand letters are going to be a mighty shock. Also i'm surprised this person is not a little angry at their accountant, surely they should of flagged the changes up 2 years ago? spelled it out clearly, or is that not how they work? 

do they just work tax year to tax year, or by appointment to appointment? its not like a solicitor going out of their way to tell you something concerning?

Tax demands and CGT payment are barely half the problem.

S24 is going to hit portfolio LL the hardest.

Most will have mortgages issued on 90% LTV. s long as they keep pyaing the mortgage then they are OK.

Howver, if the LL go to borrow or sell or miss payment then the bank - or whoevers picked up the bust banks IO BTL book - will want to consolidate the full protfolio to get LTV down.

Portfolio LL have two choices:

- Suck up S24, keep paying the mortgage and 50% to HMRC.

- Or try and refinance and get the mortgage removed.

Two choices; one outcome - they are bust.

 

Share this post


Link to post
Share on other sites
11 hours ago, Captain Kirk said:

"my dilemma is this, the only way i am going to be able to afford the bill is by selling one of my Properties to release the equity."

25differentnotgood.jpg

Share this post


Link to post
Share on other sites

And I thought a dilemma was about making a choice between two difficult options. 

Where has s/he listed his other option?

Share this post


Link to post
Share on other sites
5 minutes ago, Freki said:

And I thought a dilemma was about making a choice between two difficult options. 

Where has s/he listed his other option?

I think the dilemma is how to do it quickly without losing lots of money (spoiler alert, he or she can't)

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

  • Recently Browsing   0 members

    No registered users viewing this page.

  • Next General Election   60 members have voted

    1. 1. When do you predict the next general election will be held?


      • 2019
      • 2020
      • 2021
      • 2022

    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.