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Gemma Rose

BTL investor ( age 28 ) life is ruined !

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I'm expecting a full-on campaign from the Telegraph to reverse the BTL changes. Won't someone think of the poor, amateur landlords? How can they expect the plebs and the young to fund the lifestyle that amateur landlords are entitled to if rents and property prices fall? I mean, we all know that amateur landlords are really savvy investors, but still. They just need a bit of help to keep the market stacked in their favour. Just this once. Honest.

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3 minutes ago, Si1 said:

Here we are. Together wth claims to be a Cambridge graduate when he only did a postgraduate certificate there:

http://www.telegraph.co.uk/finance/personalfinance/investing/buy-to-let/11767771/I-own-most-of-my-street-buy-to-let-investor-26.html

I just logged on to post that link, but you beat me to it!

You can still read the 5h1tstorm of hostile comments that the article attracted.  Ah, the happy days of the Telegraph Disqus forum.  Including a very early appearance (possibly the first) of the nickname "BTLegraph" :rolleyes:

What's become of Nicole Blackmore these days?

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So his life is ruined, although the tax changes don't affect him because he is not highly leveraged, but he is putting the rents up anyway? Is that the gist? Must admit I only skimmed it - there is only so much I can take.

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6 minutes ago, mattyboy1973 said:

So his life is ruined, although the tax changes don't affect him because he is not highly leveraged, but he is putting the rents up anyway? Is that the gist? Must admit I only skimmed it - there is only so much I can take.

He is according to his other article. almost all on io.

Edited by Si1

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1 minute ago, crashmonitor said:

'Life's work ' at 28...strange perspective for one so young. Fool if you think life's ending it's just begun you idiot.

Depends how much money you owe to others.

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Take your medicine son.

On 13/06/2015 at 9:25 PM, Venger said:

Mark retweeted

Jun 11 2015

This is brilliant from @PrivateEyeNews on Buy To Let. 

CHOT7rbWkAA2gk0.jpg

 

Yes Si1, I remember it too.

'I own most of my street’ – buy-to-let investor, 26
This landlord’s portfolio of 11 properties yields 19pc – and he says he could cope if interest rates hit 9pc

On 01/08/2015 at 4:09 PM, pipllman said:

sounds fairly sensible

“Initially I wanted to build a buy-to-let empire with hundreds of properties, but I’ve realised that it’s better to have fewer properties and better cash flow."

If the article is the whole story, then I have no problem with landlords of his ilk

And I have no problem with them going under.

On 01/08/2015 at 4:56 PM, BuyToLeech said:

Then you must be ignoring the 9 families he has forced out of owner occupation, who will never have secure stable accommodation so he can have his 9%.

 

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Maybe it might be a good idea for tenants to do a financial status check on their prospective landlord to see how highly leveraged up they are, how much pressure they could be under?......there are many very good landlords that actually own the homes they let outright or very low loan to value, the value of their tenant is far more important than the rent they collect. ;)

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3 minutes ago, winkie said:

Maybe it might be a good idea for tenants to do a financial status check on their prospective landlord to see how highly leveraged up they are, how much pressure they could be under?......there are many very good landlords that actually own the homes they let outright or very low loan to value, the value of their tenant is far more important than the rent they collect. ;)

 

Well that's a counter to this paper by RICS - although I couldn't bring myself to read it in full - and I still can't bring myself to, although I really should.  The leader to it was enough to hit back with a tired Tweet in the early hours.

Quote

 

07 Dec 2016
The Government should create a central database of householders in rented properties as an alternative to the current system of tenant-funded credit and reference checks.

According to the RICS Rented Sector Policy Paper — published today and downloadable below — the proposed database would hold landlord references and past rental payment histories for up to 10 million householders currently living in private- and social-rented properties across England.

It would be particularly beneficial to more vulnerable tenants with poor credit ratings, as it would allow landlords to access other vital information, such as past rental histories, therefore allowing them to look beyond traditional measures of suitability. The database would also offer an alternative to the tenant-funded credit checks that Government is looking to axe next year. Details could only be accessed with the tenant’s permission.

http://www.rics.org/uk/news/news-insight/press-releases/generation-rents-central-database/?utm_source=Twitter&utm_campaign=RentedSectorPaper_071216&utm_medium=Social

 

 

 

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You too can play Bacon Lettuce and Tomato Bullsh1t Bingo:

 

"got into property"

"for my pension"

"cheaper market value"

"way to provide security"

"money work harder than in the bank"

"short-term sacrifices"

"tough at times"

"secure my income"

"changes not going to affect me"

"invested so much time and money"

"landlords have increased their rents"

"tried to keep my rents lower.... will have to increase eventually"

"my tenants... worry about the changes"

"hardworking people"

"not just hurting landlords"

"empty not habitable...invested to transform"

"positive social impact"

"many more empty homes"

"growing population"

"will continue to invest... mainly because of the social implication" (seriously? you're all heart)

"return on investment of 25pc"

"helping newcomers in a professional, informed and ethical way"

 

May just as well have cut/paste whole article really. Nauseating.

 

In fact, "calling BS" and "calling made-up informercial on behalf of the Landlord Party".

 

 

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Only 4 months ago the same chap was boasting to Richard Dyson that he was getting 20% return on his latest purchase.  Mainly by cramming in extra bedrooms.  Why does he now say he'll have to put up his rents?  Has he only just found out about Section 24?

http://www.telegraph.co.uk/investing/buy-to-let/my-20pc-per-year-buy-to-let-returns-heres-how-it-works/

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If some poor unfortunate renter scum jumped off a building because they'd finally had enough of the cruel rentier run slave economy and left a note detailing cost of shelter as the reason, would the telegraph run a double page spread on the story? 

Same question for a DEBTjunkie who'd finally had enough of unpayable DEBT on multiple shelters.

 

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32 minutes ago, Dyson Fury said:

Only 4 months ago the same chap was boasting to Richard Dyson that he was getting 20% return on his latest purchase.  Mainly by cramming in extra bedrooms.  Why does he now say he'll have to put up his rents?  Has he only just found out about Section 24?

http://www.telegraph.co.uk/investing/buy-to-let/my-20pc-per-year-buy-to-let-returns-heres-how-it-works/

Hes mkre likely to be dhutdkwn by the council.

Id question hix use of thd word'own' too.

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As well as made up yields, his made up claims in the first article dont tally with those in the second article.

Hd appears to be a slumlord in Norfolk.

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Had a chat with a guy whom I met for first time, he mentioned how his sister and brother in law found it difficult to raise deposit and were movingback with family to save it. He also told in the same breath that they used the redundancy money on a flat so that BTL rent would cover their new future mortgage mentioning that he was clever to do that. These MSM article should become widespread and many BTLers should lose their shirt, only then there will be a proper change in society.

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D*ck head. Sitting on 5-10 years of unearned equity. Created his own tenants by out bidding owner occupiers. Was in a position to buy aged 18. Ruined? Had his money-for-nothing lifestyle taken away from him so that others can own just a home for themselves. Providing a social service by loading up on debt to a greater extent sensible people would on more favourable terms to suck the wages out of people who'd rather not be giving 30% or 40% of their wages to him but have no choice. Boasting about it too. Scumbag.

The only ruin he's likely to face is if he is too stupid (and it looks that way) to realise that the gravy train is over, out now while profits can still be taken. A low geared landlord who's been in the business for 10 years should be able to exit at the moment and have done very, very well for themselves. Far, far, far better than his "poor" tenants who have been milked like f*cking slaves for a decade.

Sell now, sell everything. Otherwise, get the roasting you deserve you parasite.

Ruined - you f*cking imbecile. Getting indebted on the behalf of others because you have an extremely low risk aversion is not a service, it is a drain. You deserve everything coming to you.

D*ck head. I'm angry.

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33 minutes ago, thewig said:

If some poor unfortunate renter scum jumped off a building because they'd finally had enough of the cruel rentier run slave economy and left a note detailing cost of shelter as the reason, would the telegraph run a double page spread on the story? 

Same question for a DEBTjunkie who'd finally had enough of unpayable DEBT on multiple shelters.

 

If some poor single mother gets turfed out by her landlord, maybe after years spent in damp conditions with the children suffering health problems, remember it's only a tragedy for the Telegraph if the landlord doesn't earn a nice profit on his investment. 

That's buy-to-let Britain in a nutshell. 

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Don't like the look of that bloke at all, we get some in our shop like that and they ask for things we haven't got and complain about everything we have.

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The comments seem to have disappeared.

The guy is 28. He ought to have a good 50+ years left on this planet. Perhaps he won't prosper from this particular endeavour but there is plenty of time to find other enterprises.

It shouldn't matter if you sell flats, falafel or feature length films, a businessman is in the business of making money.

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