Guest muttley Posted January 25, 2006 Share Posted January 25, 2006 It's just occurred to me that all the BTL landlords I know live in semis.Why's that then? Quote Link to comment Share on other sites More sharing options...
Property Investor Posted January 25, 2006 Share Posted January 25, 2006 Coz they're into being skint for the long term? Personally I live in a 6 bedroom house with indoor pool, paid for by my BTL properties Quote Link to comment Share on other sites More sharing options...
Te Mata Posted January 25, 2006 Share Posted January 25, 2006 Personally I live in a 6 bedroom house with indoor pool, paid for by my BTL properties Credibity sans verification = 0 Oh yeah, I live in a medievil castle on the Rhine River payed for by trading baseball cards Quote Link to comment Share on other sites More sharing options...
optimist Posted January 25, 2006 Share Posted January 25, 2006 Credibity sans verification = 0 Oh yeah, I live in a medievil castle on the Rhine River payed for by trading baseball cards As any serious property inverstor will tell you, it is a long term (>10 years) game for it to be really lucrative. As B2L is a relatively recent phenomenon (<5 years for the majority), its early days yet. I suspect these people would bank on encashing their riches a few more years into the future..and then moving up from their semis or whatever. Quote Link to comment Share on other sites More sharing options...
eurows Posted January 25, 2006 Share Posted January 25, 2006 As any serious property inverstor will tell you, it is a long term (>10 years) game for it to be really lucrative. As B2L is a relatively recent phenomenon (<5 years for the majority), its early days yet.I suspect these people would bank on encashing their riches a few more years into the future..and then moving up from their semis or whatever. Nerd alert Quote Link to comment Share on other sites More sharing options...
Mags Posted January 25, 2006 Share Posted January 25, 2006 I suspect these people would bank on encashing their riches a few more years into the future..and then moving up from their semis or whatever. And sell their houses to.... who? Quote Link to comment Share on other sites More sharing options...
mercsl Posted January 25, 2006 Share Posted January 25, 2006 (edited) Its true in my case. Know couple landlords who live don't own a bling place. I live in the same place I purchased in 1995, fairly good size loft apartment in Se1 with a small decked terrace. Not really done anything to it since moved in except repainting. My BTL's in the same area way better in specification ,one is a third bigger than my own and another has great views over london landmarks. Lots people I know have had new kitchens, bathrooms , furniture over the years. I preferred to put my money into other properties. Edited January 25, 2006 by mercsl Quote Link to comment Share on other sites More sharing options...
mustrum_ridcully Posted January 25, 2006 Share Posted January 25, 2006 Personally I live in a 6 bedroom house with indoor pool, paid for by my BTL properties May I? Why thank you! AWWOOOOGA! Ah I needed that! Quote Link to comment Share on other sites More sharing options...
CrashBear Posted January 25, 2006 Share Posted January 25, 2006 damn beat me to it!! Its probably cus there geared up to their necks! Quote Link to comment Share on other sites More sharing options...
Marina Posted January 25, 2006 Share Posted January 25, 2006 As any serious property inverstor will tell you, it is a long term (>10 years) game for it to be really lucrative. As B2L is a relatively recent phenomenon (<5 years for the majority), its early days yet. I suspect these people would bank on encashing their riches a few more years into the future..and then moving up from their semis or whatever. You talk about 'serious property investors' as though they have some special understanding of the market. The reality is you got lucky. People who bought in the mid to late 90s when prices were low and IRs were coming down got lucky. The luckiest thing that happened to them was 2 planes flying into the Twin Towers. If that had not happened, IRs would not have been lowered to a 50 year low to try to stave off a global recession - and the resulting boom in property prices may not have happened. I believe that if you got into BTL now, in a big way, say bought 10 properties - in 10 years time it is extremely unlikely that those properties will be worth more than they are now. The boom happened on the back of 50 year lows in Interest Rates and a frenzy of BTL speculation. Take those drivers out of the market and you are back to fundamentals - affordability for 'normal' house buyers and yields for investors. There is nothing to drive prices up - we're sitting at the top - and we face ever-increasing globalization pressures which are already driving us into recession. If I had a BTL portfolio, I would be liquidating it as fast as I can and looking for another market. Quote Link to comment Share on other sites More sharing options...
CrashIsUnderWay Posted January 25, 2006 Share Posted January 25, 2006 That is such a crap example of trollism, we are forced to upgrade the alarm to:- A-WOO-WOO-WOO-WOO-WOO-GAAAAAAA!!!!!! Quote Link to comment Share on other sites More sharing options...
undeservingrich Posted January 25, 2006 Share Posted January 25, 2006 Guilty as charged. I am a semi dwelling, second hand car driving, cheap skate landlord. Why? I live off my salary always have and my investment profits, after tax are saved for reinvestment. I’m quite happy living a very average life and have only two aims in accumulating wealth:- 1) I want to continue to enjoy much the same standard of living into retirement (I have paid into a personal pension for 20 plus years but have little faith that it will produce a significant income) and 2) I want the freedom to “take a walk” from my job if I am unhappy about what I’m being asked to do. Being a flash Harry has no attraction for me. Quote Link to comment Share on other sites More sharing options...
CrashBear Posted January 25, 2006 Share Posted January 25, 2006 That is such a crap example of trollism, we are forced to upgrade the alarm to:- A-WOO-WOO-WOO-WOO-WOO-GAAAAAAA!!!!!! Quote Link to comment Share on other sites More sharing options...
waitingpatiently Posted January 25, 2006 Share Posted January 25, 2006 Guilty as charged. I am a semi dwelling, second hand car driving, cheap skate landlord. Why? I live off my salary always have and my investment profits, after tax are saved for reinvestment. I’m quite happy living a very average life and have only two aims in accumulating wealth:- 1) I want to continue to enjoy much the same standard of living into retirement (I have paid into a personal pension for 20 plus years but have little faith that it will produce a significant income) and 2) I want the freedom to “take a walk” from my job if I am unhappy about what I’m being asked to do. Being a flash Harry has no attraction for me. I like your style I definately agree that no amount of bling can buy the feelings and confidence you get when you start on the path to building your wealth slowly and sustainably. Quote Link to comment Share on other sites More sharing options...
Time to raise the rents. Posted January 25, 2006 Share Posted January 25, 2006 The millionaire next door is the millionaire next door because they don't waste their money. A more appropriate question would be why do tenants rent expensive flats? Is it because they need to bling a little to make us believe they're better off than they really are? Are they trying to impress their friends? Have they been brought up to believe they are entitled to live in expensive accomodation? Quote Link to comment Share on other sites More sharing options...
CrashIsUnderWay Posted January 25, 2006 Share Posted January 25, 2006 (edited) it's mostly because their employers are paying. If they have to pay their own rents, they suddenly get miserly. Which is why you havent been able to raise your rents since you bought - you have instead had to keep adding new cubbyholes to your sh1tty houses and trying to squeeze more Poles in. Loser 'L' with fingers, ozscumbo PS - the surprise rise in GDP means what, oh great business brain??? Dont know? No ferkin surprise there. I'll tell you. INTEREST RATES ARE GOING TO RISE. And perhaps even YOU aren't too thick to work out that this means YOU ARE GOING TO GET SQUEEZED hahahaha - hope that frikkin helps! Edited January 25, 2006 by CrashIsUnderWay Quote Link to comment Share on other sites More sharing options...
Time to raise the rents. Posted January 25, 2006 Share Posted January 25, 2006 Well this story arrived just in time for this thread then: From the blog. http://www.whatmortgageonline.co.uk/news1/...p?unqueid=16051 Rise in buy-to-let-to lifestyle One in five landlords uses their rental income to give them the freedom to live the life they want, according to research from Standard Life Bank. The survey, which questioned more than 500 landlords across the UK, revealed that 17 per cent of respondents used the money earned from their property to go travelling. 10 per cent used their earnings to reduce their working hours and work part-time, while 10 per cent used the money to retrain or set up their own business. However, the idea of buy-to-let lifestyle doesn't just cover big life changes - almost a quarter (23 per cent) said that their rental income had enabled them to renovate their own homes. "Our survey revealed that a quarter of all respondents are earning up to £200 more than their mortgage commitments every month, 27 per cent are earning between £200 and £500 extra, and 13 per cent are earning up to £1000 each month," said Andrew Boddie, head of marketing at Standard Life Bank. "Earnings on successful buy-to-let projects can be significant and provide landlords with income to change their lives - and with one in five already reporting that they are benefiting in this way, we expect to see this number rise as more people use their property to embrace a more flexible lifestyle. "The majority of people (52 per cent) first became landlords in order to invest in their future, but many of those in buy-to-let have now started to realise the earning potential that renting can deliver.” it's mostly because their employers are paying. If they have to pay their own rents, they suddenly get miserly. Which is why you havent been able to raise your rents since you bought - you have instead had to keep adding new cubbyholes to your sh1tty houses and trying to squeeze more Poles in. Loser 'L' with fingers, ozscumbo PS - the surprise rise in GDP means what, oh great business brain??? Dont know? No ferkin surprise there. I'll tell you. INTEREST RATES ARE GOING TO RISE. And perhaps even YOU aren't too thick to work out that this means YOU ARE GOING TO GET SQUEEZED hahahaha - hope that frikkin helps! The rise in GDP means the economy is growing. What does that mean SFB? You got it in one, it means HPI and rent inflation. Remember, heads I win, tails you lose...... Quote Link to comment Share on other sites More sharing options...
apom Posted January 25, 2006 Share Posted January 25, 2006 (edited) Well this story arrived just in time for this thread then: From the blog. http://www.whatmortgageonline.co.uk/news1/...p?unqueid=16051 Rise in buy-to-let-to lifestyle One in five landlords uses their rental income to give them the freedom to live the life they want, according to research from Standard Life Bank. The survey, which questioned more than 500 landlords across the UK, revealed that 17 per cent of respondents used the money earned from their property to go travelling. 10 per cent used their earnings to reduce their working hours and work part-time, while 10 per cent used the money to retrain or set up their own business. However, the idea of buy-to-let lifestyle doesn't just cover big life changes - almost a quarter (23 per cent) said that their rental income had enabled them to renovate their own homes. "Our survey revealed that a quarter of all respondents are earning up to £200 more than their mortgage commitments every month, 27 per cent are earning between £200 and £500 extra, and 13 per cent are earning up to £1000 each month," said Andrew Boddie, head of marketing at Standard Life Bank. "Earnings on successful buy-to-let projects can be significant and provide landlords with income to change their lives - and with one in five already reporting that they are benefiting in this way, we expect to see this number rise as more people use their property to embrace a more flexible lifestyle. "The majority of people (52 per cent) first became landlords in order to invest in their future, but many of those in buy-to-let have now started to realise the earning potential that renting can deliver.” The rise in GDP means the economy is growing. What does that mean SFB? You got it in one, it means HPI and rent inflation. Remember, heads I win, tails you lose...... Really.. A friend is renting out a property bought new a year ago. Same new builds are selling for less then he paid.. and his rent income does not cover his interest only mortgage.. Hes loosing.. 1 in five use profits from their rental income .. to make life better.. Well my parents own a flat and they have no mortgage.. so the rent from that does make things all shiny for them.. But at peak people down my way are using their wages to subsidise their interest only mortgages which are against properties that are dropping in value.. I suppose those are not the 1 in 5 are they.. buddy.. even a mortgage lender can say that only 1 in 5 are living it large.. House prices have been high for only a little bit.. when did the loosers buy? Edited January 25, 2006 by apom Quote Link to comment Share on other sites More sharing options...
?...! Posted January 25, 2006 Share Posted January 25, 2006 Really.. A friend is renting out a property bought new a year ago. Same new builds are selling for less then he paid.. and his rent income does not cover his interest only mortgage.. Hes loosing.. I am wining Is he just going to hang on to it till he runs out of money? IOM letting it out at a loss? What exactley does he hope to gain? Is this man the stupidest person to walk the earth? Quote Link to comment Share on other sites More sharing options...
Guest muttley Posted January 25, 2006 Share Posted January 25, 2006 A more appropriate question would be why do tenants rent expensive flats? Because it's cheaper than buying expensive flats. Oh,do keep up TTRTR! Quote Link to comment Share on other sites More sharing options...
CrashIsUnderWay Posted January 25, 2006 Share Posted January 25, 2006 Good ole sh1tferbrains TTRTR likes to quote this old bunch of cr@p:- "one in five landlords uses their rental income to give them the freedom to live the life they want, according to research from Standard Life Bank. " AND THE OTHER 4 OUT OF 5 USE IT TO SUBSIDIZE THEIR TENANTS RENT!!!!! Heads u lose, parasite, (underpaid apartment manager with no escape clause), tails you go bust. Quote Link to comment Share on other sites More sharing options...
Catch22 Posted January 25, 2006 Share Posted January 25, 2006 Because it's cheaper than buying expensive flats. Oh,do keep up TTRTR! Quote Link to comment Share on other sites More sharing options...
Guest muttley Posted January 26, 2006 Share Posted January 26, 2006 Its true in my case. Know couple landlords who live don't own a bling place. I live in the same place I purchased in 1995, fairly good size loft apartment in Se1 with a small decked terrace. Not really done anything to it since moved in except repainting. My BTL's in the same area way better in specification ,one is a third bigger than my own and another has great views over london landmarks. Lots people I know have had new kitchens, bathrooms , furniture over the years. I preferred to put my money into other properties. Thanks for answering. So when (if ever) do you intend to trade up? Quote Link to comment Share on other sites More sharing options...
Property Investor Posted January 26, 2006 Share Posted January 26, 2006 "You talk about 'serious property investors' as though they have some special understanding of the market. The reality is you got lucky" Property Investment requires good knowledge and indepth research. As shown from the post above, there are people that are losing money from BTLs. However, even in this market dip (and that is all it is) most of us are still making money. Quote Link to comment Share on other sites More sharing options...
Guest muttley Posted January 26, 2006 Share Posted January 26, 2006 Property Investment requires good knowledge and indepth research. So why didn't many of them buy a big house whilst they could? If they are so knowledgeable,how come they "missed the boat"? Quote Link to comment Share on other sites More sharing options...
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