Jump to content
House Price Crash Forum
Sign in to follow this  
jiltedjen

Average BTL'er

Recommended Posts

19 minutes ago, jiltedjen said:

Just thinking to myself. what is the average buy to letter?

age
single/married
kids/no kids
job type
savings
male/female

any facts?

Based upon most recent rental;

 

early 40's

married

2 kids

banker/shrew

unclear but they spent f**k all on the house and were 'leveraged' to both their testicles 

couple

Share this post


Link to post
Share on other sites
11 hours ago, t1234 said:

Selfish greedy b&st*rds who don't hesitate to exploit their fellow man for their own gain - found in all ages and sexes and background

Bingo. Averages don't mean much to me in this context, but the above is the one common denominator that I see in all of the ones that I meet.

Some of them genuinely don't realise it (yet), some of them know it deep down but deny it to themselves, and others know it full well and don't give a damn. But it's there in all of them.

Share this post


Link to post
Share on other sites
17 hours ago, spyguy said:

40s too young.

Most io btlers are mid 50s.

 

Their generation didn't have sensible options for diversified stock market investments, fees were sky high and advice was poor. Consequent the were either stuck with low cash rate returns, or they found that property investment was the only means of getting exposure to return bearing assets. Of course now index funds are much easier and better, but they are stuck in their ways.

Share this post


Link to post
Share on other sites

And teachers/police officers/doctors etc

 

Don't even get me started...

 

I think there's something owing to the cash cow that was (and still is to a lesser extent) their income based pension schemes, which were a scammers dream, allowing micro management of work contract to maximise the pensionable financial outcomes. Btl tends to the same temptations, to play the system to minimise tax and maximise leverage

Share this post


Link to post
Share on other sites
7 minutes ago, Si1 said:

Their generation didn't have sensible options for diversified stock market investments, fees were sky high and advice was poor. Consequent the were either stuck with low cash rate returns, or they found that property investment was the only means of getting exposure to return bearing assets. Of course now index funds are much easier and better, but they are stuck in their ways.

The leverage and concentrstion of risk in 8m square of land is stunning.

I think the South will experiencd the same to financialservice jobs as the north did to industry.

Ive already noticed large number oflife insurers have gone from regional towns.

The city moves to higher capital, less leverage will reduce employment in London.

Share this post


Link to post
Share on other sites

wonder if there are any solid facts. are there two distinct layers of BTL

the double down boomers

and the heavy indebted younger generations around 40YO which BTL is their only hope 

Share this post


Link to post
Share on other sites
17 minutes ago, Grumpysod said:

Not particularly educated well, in the past they would have had mundane jobs while constantly looking for get rich quick schemes, remember the carpet cleaning business adds with the flash Essex boy sunning himself while holding a Del boy style cocktail, that's BTL but on steroids.

 

These people are just too thick to see what's coming, business people they are not, when things get tough for them, and they will  now, they will just start crying louder.

 

 

 

 

Ex Amway?

Share this post


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

Boomer

"Worked" exclusively in public sector

Early retiree

Got nice final salary pension scheme lump sum, "not earning any interest in the bank". Spent it in btl deposits.

Share this post


Link to post
Share on other sites
45 minutes ago, Si1 said:

Got nice final salary pension scheme lump sum, "not earning any interest in the bank". Spent it in btl deposits.

I think that fits the narrative of who has been the new BTLers on the block since Gidiot was blowing his bubble.

Share this post


Link to post
Share on other sites

Late 40's, early 50-s, short, fat, small c*ck, useless, failure, small man syndrome, illeterate, socially unaware, greedy, unedicated a=hole of the highest order.

 

Did I miss anything ?

Share this post


Link to post
Share on other sites

Of the few I've known:

One is a divorcee who took out a huge mortgage to buy her husband out of their former family home. She then remarried and moved ~30 miles away to Swindon. She rented out the former family home. For a few years this was making a small loss ~£100/month after most things are included.Her mortgage was a repayment mortgage so I'm not sure exactly how much of the £100/month was lost or lost if see what I mean. I think now with the changes in interest rates and the way things have gone she's probably making a small profit of £100/month. As well as the capital gain. She was a nurse born in the late 1960s, with a good salary and a final salary pension. I think she's kept hold of mainly due to her experience with her first marriage. If TSHTF on her second marriage everything is in her name and she's paid any extras needed for the house herself so would probably be able to keep it for herself and let her current husband worry about buying her out of the place they now live in and both contribute to.

The other BTLs that I've known well are my aunt and uncle. They bought a student house for their daughter and her three friends to live in whilst at university in the midlands. This was meant to be because it would allow her somewhere secure to live etc. for her time at uni. Although secretly we believe they were hoping for a capital gain. After 3 years of ownership the house was sold for a nominal loss of about £5k. They bought the house with cash due to an inheritance when my grand parents died. During the 4 years they collected rent and paid minimal maintenance costs on the house. All in all I think they broke even/made a small loss of less than £5k. My aunt and uncle were both employed in the public sector and had very large final salary pensions.

From my own anecdotal experience BTLs tend to be baby boomers, work in the public sector with final salary pensions. Go out of their way to 'have a good reason' to own the second property.

 

Share this post


Link to post
Share on other sites
4 hours ago, TheCountOfNowhere said:

Late 40's,  short, fat, small c*ck, useless, failure, small man syndrome, illeterate, socially unaware, greedy, unedicated a=hole of the highest order.

Hows the portfolio doing then Count?:D

Share this post


Link to post
Share on other sites
5 hours ago, assetrichcashpoor said:

Of the few I've known:

One is a divorcee who took out a huge mortgage to buy her husband out of their former family home. She then remarried and moved ~30 miles away to Swindon. She rented out the former family home. For a few years this was making a small loss ~£100/month after most things are included.Her mortgage was a repayment mortgage so I'm not sure exactly how much of the £100/month was lost or lost if see what I mean. I think now with the changes in interest rates and the way things have gone she's probably making a small profit of £100/month. As well as the capital gain. She was a nurse born in the late 1960s, with a good salary and a final salary pension. I think she's kept hold of mainly due to her experience with her first marriage. If TSHTF on her second marriage everything is in her name and she's paid any extras needed for the house herself so would probably be able to keep it for herself and let her current husband worry about buying her out of the place they now live in and both contribute to.

The other BTLs that I've known well are my aunt and uncle. They bought a student house for their daughter and her three friends to live in whilst at university in the midlands. This was meant to be because it would allow her somewhere secure to live etc. for her time at uni. Although secretly we believe they were hoping for a capital gain. After 3 years of ownership the house was sold for a nominal loss of about £5k. They bought the house with cash due to an inheritance when my grand parents died. During the 4 years they collected rent and paid minimal maintenance costs on the house. All in all I think they broke even/made a small loss of less than £5k. My aunt and uncle were both employed in the public sector and had very large final salary pensions.

From my own anecdotal experience BTLs tend to be baby boomers, work in the public sector with final salary pensions. Go out of their way to 'have a good reason' to own the second property.

 

I'd like to add the following:

1. Young people in their 40's who got interest only mortgages in late 90s and early 2000s. They realised with the rising rents, they could pocket free money by renting out their flat when they traded up. Plus a healthy capital gain in previously run down area. Think Clapham and Shoreditch.

2. Estate agents who buy underpriced properties with healthy rental yield.

 

3. Then there is a special group I fear for and truly sympathise with. They are parents of young kids late teens and early twenties, they realise their kids won't be able to afford their own place, so they purchase it now and let it in the interim.

I don't view all BLTers as parasites, most of us would be foolish to turn away free money as in the first case or plan for their kids future in the latter case.

Share this post


Link to post
Share on other sites
26 minutes ago, 80sBaby said:

I'd like to add the following:

1. Young people in their 40's who got interest only mortgages in late 90s and early 2000s. They realised with the rising rents, they could pocket free money by renting out their flat when they traded up. Plus a healthy capital gain in previously run down area. Think Clapham and Shoreditch.

2. Estate agents who buy underpriced properties with healthy rental yield.

 

3. Then there is a special group I fear for and truly sympathise with. They are parents of young kids late teens and early twenties, they realise their kids won't be able to afford their own place, so they purchase it now and let it in the interim.

I don't view all BLTers as parasites, most of us would be foolish to turn away free money as in the first case or plan for their kids future in the latter case.

Oooooh healthy. It's healthy that is.

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
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   26 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    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.