bob monkhouse Posted January 11, 2006 Share Posted January 11, 2006 How are you financing this, and if borrowing, at what rates? is it me, or is the title slightly pornographic. oh, it just me. Quote Link to comment Share on other sites More sharing options...
karhu Posted January 11, 2006 Share Posted January 11, 2006 (edited) I think it may have already happened ! Am I really the only one who smells a rat here ? TTRTR's seller turns out to be an STR whose turned bullish ? That's just tooooo perfect a story. Are you sure this isn't a tale of a BTL turned bearish ? Who really got cold feet TTRTR ? Glad to hear you feel the same. You are talking about a guy who has made over 4,000 posts on a bearish forum. I'd love to know who this guy really is, but he ain't a property speculator (anymore!). Edited January 11, 2006 by karhu Quote Link to comment Share on other sites More sharing options...
BuyingBear Posted January 11, 2006 Share Posted January 11, 2006 Sit and meditate like the rest of us???! Ahh, that's how they pass the time in the public sector Quote Link to comment Share on other sites More sharing options...
Time to raise the rents. Posted January 11, 2006 Author Share Posted January 11, 2006 I see your point. It takes some intelligence to realise that there are investment opportunities out there. However, it takes more intelligence to find the right ones. TTRTT I can almost feel that you want to join us and become a bear. At that point I will realise that the crash is well and truly underway. I am a bear when taking individual properties into account. It's just that I am a bull on the properties that I own and similar ones to them. And I believe that people should never say that all is good or all is bad, it all works in shades of grey IMO. There are plenty of 400k plus 2 bed places in SW11, they're pretty & nice & all that BS, but they don't pay for themselves. Quote Link to comment Share on other sites More sharing options...
karhu Posted January 11, 2006 Share Posted January 11, 2006 I am a bear For all to see. Quote Link to comment Share on other sites More sharing options...
Time to raise the rents. Posted January 11, 2006 Author Share Posted January 11, 2006 I think it may have already happened ! Am I really the only one who smells a rat here ? TTRTR's seller turns out to be an STR whose turned bullish ? That's just tooooo perfect a story. Are you sure this isn't a tale of a BTL turned bearish ? Who really got cold feet TTRTR ? Have I ever lied to you? How are you financing this, and if borrowing, at what rates? is it me, or is the title slightly pornographic. oh, it just me. 85% of the property at 5.09% & the rest (20% when you add stamp duty & costs) at 4.94%. Quote Link to comment Share on other sites More sharing options...
karhu Posted January 11, 2006 Share Posted January 11, 2006 Ihere are plenty of 400k plus 2 bed places in SW11, they're pretty & nice & all that BS, but they don't pay for themselves. Now we're talking. Do you think that they will fall in value and if so, by how much? Quote Link to comment Share on other sites More sharing options...
Time to raise the rents. Posted January 11, 2006 Author Share Posted January 11, 2006 For all to see. And Radical Muslim preacher Abu Hamza said his words were taken out of context. Lucky it's him on trial & not me, you judges can be rediculous sometimes. Quote Link to comment Share on other sites More sharing options...
Elizabeth Posted January 11, 2006 Share Posted January 11, 2006 Here's an interesting quote from an article I read yesterday: http://www.smh.com.au/news/opinion/a-find-...6863235441.html You see, I was the one who was going to pick up the money left by the seller, in the form of 150k profit for converting their house to two 4 bedroom flats. You do the sums people, there aren't many 4 bed flats for under 400k in SW11. These would have been more like 430k each. I spot 2 4bd flats under 250K at SW11: http://www.rightmove.co.uk/edit_search.rsp...ch=start+search Give yourself a 1 mile radius and just down the road at Clapham Common you can get a load of goodies. Not class, but if its for HMO then who needs class? Just close vicinity to trendy bars and decent space and upkeep inside. http://www.rightmove.co.uk/edit_search.rsp...new&unique=true And then here for a laugh, 2M at battersea park (selling points and features? theirs: facing battersea park. Translation: west facing backyard (just right not to catch the sun in any real measure), semi-detached, on a main road, just up from the historic dog home and the power station) http://www.rightmove.co.uk/viewdetails-101...pa_n=2&tr_t=buy Quote Link to comment Share on other sites More sharing options...
karhu Posted January 11, 2006 Share Posted January 11, 2006 And Radical Muslim preacher Abu Hamza said his words were taken out of context. Lucky it's him on trial & not me, you judges can be rediculous sometimes. By the way it's ridiculous, as in ridiculous prices. Maybe time to read the dictionary [and the economics text book] Quote Link to comment Share on other sites More sharing options...
BuyingBear Posted January 11, 2006 Share Posted January 11, 2006 I am a bear when taking individual properties into account. It's just that I am a bull on the properties that I own and similar ones to them. Endowment effect The endowment effect is a hypothesis that people value a good more once their property right to it has been established. In other words, people place a higher value on objects they own relative to objects they do not. In one experiment, people demanded a higher price for a coffee mug they had been given to them but put a lower price on one they did not yet own. The endowment effect was described as inconsistent with standard economic theory which asserts that a person's willingness to pay (WTP) for a good should be equal to their willingness to accept (WTA) compensation to be deprived of the good. This hypothesis underlies consumer theory and indifference curves. Quote Link to comment Share on other sites More sharing options...
Lord Lucan Posted January 11, 2006 Share Posted January 11, 2006 Have I ever lied to you? 85% of the property at 5.09% & the rest (20% when you add stamp duty & costs) at 4.94%. I really don't know why you bother with TTRTT or whatever his name is...he has to be a psychiatric patient. Quote Link to comment Share on other sites More sharing options...
Guest wrongmove Posted January 11, 2006 Share Posted January 11, 2006 Have I ever lied to you? Not to my knowledge. I did have to think before posting, and add a grinning smiley. I can believe your seller has pulled out, I just don't remember you mentioning the STR angle before, but I don't read every post. You do enjoy a wind-up, but I believe you would come clean eventually if that was the case. Quote Link to comment Share on other sites More sharing options...
sign_of_the_times Posted January 11, 2006 Share Posted January 11, 2006 There is a God after all........... Quote Link to comment Share on other sites More sharing options...
AgeingBabyBoomer Posted January 11, 2006 Share Posted January 11, 2006 TTRTR, Landowners , eh - greedy scumbags. I expect it the old 'last minute mystery higher offer' scam - they know you have committed time and energy and might stump extra cash to avoid the loss. Bear or bull, you have to abhor gazumping (particularly fake gazumping), and it should not go unpunished. Make it clear that you have no intention of paying any more, and that they should confirm your original offer within a certain time limit, or else you will withdraw it comletely. If it still falls through, get down to prontaprint and knock up some fliers for a new squat. Emphasise that the place is empty, has full services, and welcomes all-comers. Leave them lying around tube stations and places frequented by (hopefullly) literate homeless types. Pop by in a few weeks and see how the place looks. ABB Quote Link to comment Share on other sites More sharing options...
eurows Posted January 11, 2006 Share Posted January 11, 2006 I never thought our family was capable of the riverdance. But when we heard TTRTR bad news all five of us lined up and our knees nearly touched our chins. If you have any more bad news please pass it on. Quote Link to comment Share on other sites More sharing options...
Time to raise the rents. Posted January 11, 2006 Author Share Posted January 11, 2006 Not class, but if its for HMO then who needs class? The word 'voids' springs to mind..... Endowment effect The endowment effect is a hypothesis that people value a good more once their property right to it has been established. In other words, people place a higher value on objects they own relative to objects they do not. In one experiment, people demanded a higher price for a coffee mug they had been given to them but put a lower price on one they did not yet own. The endowment effect was described as inconsistent with standard economic theory which asserts that a person's willingness to pay (WTP) for a good should be equal to their willingness to accept (WTA) compensation to be deprived of the good. This hypothesis underlies consumer theory and indifference curves. Nice, but difficult to calculate the yield on a coffee mug & compare it with other coffee mugs available. Not to my knowledge. I did have to think before posting, and add a grinning smiley. I can believe your seller has pulled out, I just don't remember you mentioning the STR angle before, but I don't read every post. You do enjoy a wind-up, but I believe you would come clean eventually if that was the case. The agent said they have had trouble finding something suitable to rent. They had this fantasy when I first offered on their house that they could bank 590k & rent the house off me for 2k a month. BS I said, but I offered them a discounted rent of 3k a month which they politely declined. Maybe like many STR's, they overestimated the cheapness of renting & are now having second thoughts for that reason. TTRTR, Landowners , eh - greedy scumbags. I expect it the old 'last minute mystery higher offer' scam - they know you have committed time and energy and might stump extra cash to avoid the loss. Bear or bull, you have to abhor gazumping (particularly fake gazumping), and it should not go unpunished. Make it clear that you have no intention of paying any more, and that they should confirm your original offer within a certain time limit, or else you will withdraw it comletely. If it still falls through, get down to prontaprint and knock up some fliers for a new squat. Emphasise that the place is empty, has full services, and welcomes all-comers. Leave them lying around tube stations and places frequented by (hopefullly) literate homeless types. Pop by in a few weeks and see how the place looks. ABB I've already decided anyway (no help from HPC.co.uk BTW). Tomorrow morning I'll state we're ready to exchange ASAP & drop the only problem I had with the house, which I was going to drop anyway & see what they say. If they walk away, I'm not going to chase them, mainly because of the new HMO rules. The house being 6 bedrooms will instantly exceed the 5 people per kitchen rule. The council have already told me there's no big deal because it's bathrooms that are more important, but still I don't want trouble in the future if the council gets touchy on that issue, so I can walk away if you know what I mean..... I never thought our family was capable of the riverdance. But when we heard TTRTR bad news all five of us lined up and our knees nearly touched our chins. If you have any more bad news please pass it on. Not sure what you're talking about, but it sounds kinky. Are you sure you want to act that way with your kids? Quote Link to comment Share on other sites More sharing options...
the end is a bit nigher Posted January 11, 2006 Share Posted January 11, 2006 Maybe it's cheap. But that's why I was buying it!!!! There is NOTHING else in SW11 with 6 bedrooms & loads of potential at that price. As I said - you think you are getting it cheap - won't look like that in a couple of years Quote Link to comment Share on other sites More sharing options...
BuyingBear Posted January 11, 2006 Share Posted January 11, 2006 They had this fantasy when I first offered on their house that they could bank 590k & rent the house off me for 2k a month. my aching sides Quote Link to comment Share on other sites More sharing options...
Guest wrongmove Posted January 11, 2006 Share Posted January 11, 2006 The agent said they have had trouble finding something suitable to rent. They had this fantasy when I first offered on their house that they could bank 590k & rent the house off me for 2k a month. BS I said, but I offered them a discounted rent of 3k a month which they politely declined. Well, I guess I will have to give you the benefit of my not inconderable doubt then. Better luck next time - that applies to both of us ! What will you do if your business plan becomes unviable with newly purchased properties ? Sounds like it already has, pretty well. Will you diversify, sell up and move on, or just stagnate ? Quote Link to comment Share on other sites More sharing options...
Elizabeth Posted January 11, 2006 Share Posted January 11, 2006 The word 'voids' springs to mind..... Fair enough. If it were close enough to Clapham Common I would say, take the risk and make it a mansion on the inside! That area is perenially full of w@nkers with lots of "artistic" qualities (like rich parents and diplomas of art - only down side is they tend to think cocaine is more important than rent!!!) Quote Link to comment Share on other sites More sharing options...
Bubble Pricker Posted January 11, 2006 Share Posted January 11, 2006 They were going to rent once they'd sold. So have they changed their view on the housing market? There could be all sorts of reasons, and what is the point in speculating about it here? I know a buyer whose seller pulled out at the last minute because she realised she was too attached to the prop. You have of course picked the explanation that suits you: an STR who got cold feet. Isn't that exactly what you always accuse the bears of? Interpreting the news to fit their view. Quote Link to comment Share on other sites More sharing options...
Fancypants Posted January 11, 2006 Share Posted January 11, 2006 The word 'voids' springs to mind..... Nice, but difficult to calculate the yield on a coffee mug & compare it with other coffee mugs available. The agent said they have had trouble finding something suitable to rent. They had this fantasy when I first offered on their house that they could bank 590k & rent the house off me for 2k a month. BS I said, but I offered them a discounted rent of 3k a month which they politely declined. ah! so they were going to rent the same place... interesting. I did think of starting a thread about this but rejected the idea as too outlandish. I was going to ask if anyone was aware of examples of this happening (people selling up and then renting the same place off the new owner - presumably at a loss to the new owner, although more than the original owner was paying) Quote Link to comment Share on other sites More sharing options...
Smell the Fear Posted January 11, 2006 Share Posted January 11, 2006 ah! so they were going to rent the same place... interesting. I did think of starting a thread about this but rejected the idea as too outlandish. I was going to ask if anyone was aware of examples of this happening (people selling up and then renting the same place off the new owner - presumably at a loss to the new owner, although more than the original owner was paying) I did it - sold my flat in London, then rented from the new owner. Quote Link to comment Share on other sites More sharing options...
Fancypants Posted January 11, 2006 Share Posted January 11, 2006 I did it - sold my flat in London, then rented from the new owner. is your rent less than his mortgage? Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.