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juvenal

Why I'm Getting Out Of Buy-To-Let

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"Nothing else could have generated a similar return."

 

Really? What about bitcoin or Amazon shares?

 

Also, like many landlord types, she waffles; so many words, so little actually said

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1 minute ago, Si1 said:

"Nothing else could have generated a similar return."

 

Really? What about bitcoin or Amazon shares?

 

Also, like many landlord types, she waffles; so many words, so little actually said

She's selling a book, the article is superfluous.

Comments interesting as always, 90% of them are from people that are totally fed up with the housing market.

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1 minute ago, honkydonkey said:

She's selling a book, the article is superfluous.

Comments interesting as always, 90% of them are from people that are totally fed up with the housing market.

and the other 10% are landlords 

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Her £50,000 deposit would have become £50 million if invested in bitcoin. So it's hubris saying no other blind speculative punt could have made the same returns. 

 

She had good reviews for her books, but I don't know how much she'll make from them. Another blind punt?

Edited by Si1

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"Whatever we net will go partly to reduce the mortgage on our own house and the rest will be invested"

 

Wtf. How bigs her oo mortgage?

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4 minutes ago, Si1 said:

Her £50,000 deposit would have become £50 million if invested in bitcoin. So it's hubris saying no other blind speculative punt could have made the same returns. 

She had good reviews for her books, but I don't know how much she'll make from them. Another blind punt?

She got a hell of a return for her £50,000.

But no one in their right mind would have invested all their savings in bitcoin at the start, and bitcoin could ultimately be the greatest pyramid scheme of our time.

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2 hours ago, Habitationi Bulla said:

She got a hell of a return for her £50,000.

But no one in their right mind would have invested all their savings in bitcoin at the start, and bitcoin could ultimately be the greatest pyramid scheme of our time.

My point was based on what she said, that there was no other investment could give those returns. It wasn't an investment, it was speculation.

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8 minutes ago, Bland Unsight said:

It appears that she hasn't sold it yet.

But she has put an article in a national newspaper clarifying that it's not good to get into buy to let right now.

 

It's a BTL property, and she's presumably hoping to find a BTLr to buy it off her.

 

Whoops.

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1 minute ago, Si1 said:

But she has put an article in a national newspaper clarifying that it's not good to get into buy to let right now.

It's a BTL property, and she's presumably hoping to find a BTLr to buy it off her.

Whoops.

http://www.rightmove.co.uk/property-to-rent/find.html?searchType=RENT&locationIdentifier=REGION^7256&insId=2&radius=0.0&minPrice=&maxPrice=&minBedrooms=1&maxBedrooms=1&displayPropertyType=&maxDaysSinceAdded=&sortByPriceDescending=&_includeLetAgreed=on&primaryDisplayPropertyType=&secondaryDisplayPropertyType=&oldDisplayPropertyType=&oldPrimaryDisplayPropertyType=&letType=&letFurnishType=&houseFlatShare=false

Looks like they rent for about £900 in this area so a 4% yield before expenses, voids etc..

 

 

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17 minutes ago, Si1 said:

But she has put an article in a national newspaper clarifying that it's not good to get into buy to let right now.

 

It's a BTL property, and she's presumably hoping to find a BTLr to buy it off her.

 

Whoops.

You'd imagine she's exchanged contracts at least

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I am more cynical about the media than ever. Question, how does this woman get an article in the paper? Why HER? Why not some other BTL LL?

Let me ask posters this: If YOU were a LL getting out of your ONE BTL property, would YOU be able to get the Guardian's interest in it?

"What's that, you are selling your one BTL property you say? Cool story bro."

Oh wait, I think I have cracked Sherlock:

I don’t regret being a landlord for 13 years, but it’s time to move on to a new challenge: being a successful novelist.

Vanessa Lafaye’s second novel, At First Light, is published by Orion

Ah I see.

Here is the article the Guardian did for her in 2015 also, complete with huge picture.

https://www.theguardian.com/books/2015/jan/04/vanessa-lafaye-summertime-debut-author-interview

 

God the media is all just such corrupt corporate propaganda.

 

Look at Sky News website today. Front page. http://news.sky.com/story/comedian-sayle-almost-walked-away-from-career-10974680

Total non-news about Alexei Sayle . I mean... ALEXEI SAYLE!!!! Remember him????? Totally pointless article that is clearly pulled strings by publicist.

 

Unbelievable what the world is.

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Damn. Dont know how to edit, but that quote box should end after

"I don’t regret being a landlord for 13 years, but it’s time to move on to a new challenge: being a successful novelist.

Vanessa Lafaye’s second novel, At First Light, is published by Orion"

 

Then my comments continue with " Ah I see. "

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14 minutes ago, AdamoMucci said:

I am more cynical about the media than ever. Question, how does this woman get an article in the paper? Why HER? Why not some other BTL LL?

Let me ask posters this: If YOU were a LL getting out of your ONE BTL property, would YOU be able to get the Guardian's interest in it?

"What's that, you are selling your one BTL property you say? Cool story bro."

Oh wait, I think I have cracked Sherlock:

 

https://twitter.com/VanessaLafaye/with_replies

She's a lefty leveraged landlord who supports remaining in the EU despite being a Yank.

Self awareness doesn't seem to be her strong point

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Twitter wont let me view without an account but no need. You tell me all I need to know.

So she somehow has connections to get her into the Guardian to plug her book under some phoney BTL story. The publisher just doing a PR job maybe. Or she was house mates with a journo who writes there. Or she is married to someone. You just know that all this BS article is is a string being pulled or the return of a favour for her to get some article pretending to be about BTL but is really just a plug for her new book. Such unbelievable BS. The fact she had an article in 2015 about her first book, with a huge picture of her, goes to show. And she just HAPPENS to have an article a couple years later about her because she is selling ONE BTL house? This sh*t is EVERYWHERE. I mean our entire society is totally poisoned with this utter BS.

The Alexie Sayle thing stood out like a sore thumb too. Reminds me of that documentary Louis Theroux did with Max Clifford. Watch that if you have not seen it. It shows you exactly what goes on.

https://www.youtube.com/watch?v=QJx8NrrRLko

 

BTW, is there any way to edit posts?

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43 minutes ago, AdamoMucci said:

BTW, is there any way to edit posts?

I think you need 100 posts before you can edit...that's what I found.

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9 hours ago, Si1 said:

Her £50,000 deposit would have become £50 million if invested in bitcoin. So it's hubris saying no other blind speculative punt could have made the same returns. 

 

She had good reviews for her books, but I don't know how much she'll make from them. Another blind punt?

On the rent vs mortgage payments she made £22k................................over 13 years.............having said that kudos to those who make a profit..

and having said that,after tax,hassle etc etc.......I'm amazed so many people went into it.

Couple of people at my work,badly burned by non payers.She's been quite lucky in that respect.

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Quote

Vital statistics

One-bed flat, off Cowley Road, Oxford

Purchase price £155,000
Selling price £270,000
Mortgage at purchase £100,000*
Mortgage at sale £60,000
Gross profit £210,000

[snip]

* £50,000 raised by borrowing against another property

This is pretty ambiguous, but it seems to suggest that her 'deposit' was £5K of savings and the rest from remortgaging her own house, so it's not even like this was a "what shall I do with my savings?" moment - it was a bank letting someone have a wildly leveraged punt on the housing market. Fourteen years later and we're all collectively paying for it and some poor mug is individually paying for the one-bed flat. What a country.

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Brand new paperback copies of her first novel Summertime can now be bought for 1p on Amazon.

Does she still collect royalties on these copies? Who takes the loss? Publishers?

A little bit of deflation, in contrast to HPI. :)

 

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7 hours ago, Darby Ram said:

This is pretty ambiguous, but it seems to suggest that her 'deposit' was £5K of savings and the rest from remortgaging her own house, so it's not even like this was a "what shall I do with my savings?" moment - it was a bank letting someone have a wildly leveraged punt on the housing market. Fourteen years later and we're all collectively paying for it and some poor mug is individually paying for the one-bed flat. What a country.

+1

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53 minutes ago, The Spaniard said:

Brand new paperback copies of her first novel Summertime can now be bought for 1p on Amazon.

Does she still collect royalties on these copies? Who takes the loss? Publishers?

A little bit of deflation, in contrast to HPI. :)

 

Usual thing is a two-book deal first,  with a non-returnable advance - might be quite small -  on royalties.  So if the books don't sell it'll be the publisher who takes the hit, if they've shelled out a lot. 

I once heard from reliable publishing sources that J.K. Rowlings very first book deal involved an advance of something like two and a half K.

Wretched iPad is playing up so can't do apostrophes, numbers or pound signs. 

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