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A Strategy Of The 20 Something Btl Brigade

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Could anybody shed more light on this strategy? Is there much truth to it?

Semi reliable sources have informed me that over past two years, thousands of 20 somethings from the south have been buying up fag end houses in fag end towns in the north to rent out whilst living at home with their parents, or in rented accomodation in the south. These people are not interested in BTL and wouldn't have got into BTL if house prices were more affordable where they wanted to live. The tactic is to buy a cheap house somewhere with a BTL mortgage to get onto the property ladder then sell it in the future to raise money for a deposit on a house they want to buy to live in themself somewhere in the south. This is a significant reason why house prices have risen so rapidly in the past two years in downtrodden towns such as Hull, Sunderland, Blackburn, and Barnsley, and are still rising. Professional BTL investors won't touch these areas as there is little value in them. They only interest short term amateurs or land speculators.

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Yep, many have purchased foreign properties as well, and have done very well out of it by all accounts. A young chap I know, aged 23 bought 2 holiday lets on the Adriatic back in 2001 for less than £50k and sold in 2004 for a staggering profit. He's now waiting for prices to drop in the UK after which he should be able to purchase his British home with cash or a very small mortgage in due course.

Makes you sick dunnit? Fair play to him though as he had the foresight to get on with it rather than feel sorry for himself...

Funny how many on this site blame us baby boomers for HPI......

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  • 302 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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