Greg Bowman Posted October 3, 2016 Share Posted October 3, 2016 16 hours ago, Si1 said: You sound here like Nasim Taleb - that's a complement - he says that most straightforward analysis of complex systems (including the economy or a business) underestimate tail risk. Something that is captured instead through experience and intuition. I think.... Thank you and from you I took at is one. I am sure you are the same as me and I reckon Spyguy in social situations or work meetings it's like a scene from a sci fi movie, I look around the room with people nodding heads listening to someone and think that just isn't true or that it just doesn't work like that it really doesn't ! Thinking they have all been body snatched Quote Link to comment Share on other sites More sharing options...
spyguy Posted October 3, 2016 Share Posted October 3, 2016 25 minutes ago, Greg Bowman said: Thank you and from you I took at is one. I am sure you are the same as me and I reckon Spyguy in social situations or work meetings it's like a scene from a sci fi movie, I look around the room with people nodding heads listening to someone and think that just isn't true or that it just doesn't work like that it really doesn't ! Thinking they have all been body snatched The theory of business is simple - make more than you spend, get a return on any capital deployed or time spend working. The practice of business is a lot harder. Its why there's so many people jumping into the public sector or non-profit sector these days. No need to make money and just get paid for being nice. etc etc. Going back to sisters and B+B businesses. Locally, everyone piles into that or holiday cottages. The people, in the main, have no experience of running a business, investing, or even doing basic maths. The only justification or research goes along the lines of 'Well, there's other people doing it'. Its an act of blind faith. So they buy a B+B, or remortgage and buy a holiday let. Then they poor time and money into the venture. Some have been bailed out by property rises. But the local property market is illiquid, more so with the now large number of holiday lets. But even with the price rise bail out there's no money left. I knew someone who ran, on paper, a nominally successful B+B from 1986 -> 1998 - 10 years is the most you can manage with out going insane. When he added it all up, hes have been better working on the tills at the local COOP.. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 3, 2016 Share Posted October 3, 2016 BTL a few years after the banking system collapsed, just as politicial uncertainty hits and at the top of this.... Yeah, tell them to go for it!!!! Quote Link to comment Share on other sites More sharing options...
Guest Posted October 5, 2016 Share Posted October 5, 2016 Well radio silence continues ... I think my detailed explanation of why BTL could be a bad idea, and possibly lead to financial carnage was not appreciated. That's one less xmas present to buy! woop woop Quote Link to comment Share on other sites More sharing options...
Confusion of VIs Posted November 23, 2016 Share Posted November 23, 2016 On 02/10/2016 at 1:59 PM, Sancho Panza said: For people with three or more properties-and there are loads of them-the first year will see a massive change.A fair few of my acquaintance seem completely unaware of what's coming,to the point where they've said when I've asked that it will make no material difference to their position.These people are a special breed with absolute faith in HPI,student numbers being maintained, ZIRP being the norm etc etc A couple of the more switched on ones are selling.Most BTLers in my experience have reasonably playing jobs alongside. Anyone on £25k p.a. and with three properties is going to get smashed next year Quote Link to comment Share on other sites More sharing options...
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