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RomfordDon

Why do so many doctors go into BTL?

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1 hour ago, RomfordDon said:

Reading this in the mail just got me thinking

http://www.dailymail.co.uk/news/article-4907264/Landlords-35-men-live-squalor-DOCTORS.html

why do so many well paid professionals get into BTL as a sideline?

They must be on a decent wack so why not just go out and enjoy life why deal with BTL in your spare time.

I don't know any doctors into BTL but it sure seems that there are quite a few teachers who are.

And solicitors.

I think a good number of people in these professions have quite an acquisitive nature. For many, I suspect that they'll never have enough money. Look at the Wilson's; why didn't they stop at 100 "properties"? It's sheer greed. I think some people also like to be able to mention their property investments at dinner parties etc. 

All rather sad really.

 

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3 minutes ago, oatbake said:

I don't know any doctors into BTL but it sure seems that there are quite a few teachers who are.

And solicitors.

I think a good number of people in these professions have quite an acquisitive nature. For many, I suspect that they'll never have enough money. Look at the Wilson's; why didn't they stop at 100 "properties"? It's sheer greed. I think some people also like to be able to mention their property investments at dinner parties etc. 

All rather sad really.

 

I know a few tweedy EAs and a few solicitors - market town types.

Both types face ruin - EAs are triply exposed yo slowdown - business income fall, ooo falls, btl voids.

Solitictors ought to know better - struck off if bust.

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46 minutes ago, Sawitcoming said:

Whats to deal with? My Landlords have to do about an hours work a month as far as I can see. Its not all smack hedz and wrecked houses. 

 

What about the time is takes to find properties deal with agents all that kind of stuff.

what if you need to evict a tenant think of the time hastle and cost.

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Doctors earn good wages and often have surplus income

People with surplus income look for something to do with it that allows it to grow

The property market, rightly or wrongly, is viewed as a way of getting a good return. It's also fashionable.

It's as simple as that really.

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5 minutes ago, RomfordDon said:

What about the time is takes to find properties deal with agents all that kind of stuff.

what if you need to evict a tenant think of the time hastle and cost.

Of course there is time to find a place etc. The thoughts of mad gainz and pensions means this is time well spent. A relatively small amount of time I imagine.

Once it is up and running with a good tenant family I am sure it is not that time consuming. I speak only for my own personal experience. My landlords have barely had to to anything. 

I am sure there are some messy tenancies that can be stressful and time consuming but I don't think that even two or three BTLs is that time consuming relative to the millions of pounds you are gaining in your BTL mind.

In the end I am sure everyone will see BTL as a disastrous mistake, but until recently you were a fool not to according to polite dinner party talk.

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16 minutes ago, Butthead said:

Doctors earn good wages and often have surplus income

People with surplus income look for something to do with it that allows it to grow

The property market, rightly or wrongly, is viewed as a way of getting a good return. It's also fashionable.

It's as simple as that really.

1 Million lifetime limit on pension contributions also likely to be a factor

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21 minutes ago, Butthead said:

Doctors earn good wages and often have surplus income

People with surplus income look for something to do with it that allows it to grow

The property market, rightly or wrongly, is viewed as a way of getting a good return. It's also fashionable.

It's as simple as that really.

Indeed, and will continue to be the case until alternative investments become more attractive.

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2 hours ago, Sawitcoming said:

Whats to deal with? My Landlords have to do about an hours work a month as far as I can see. Its not all smack hedz and wrecked houses. 

 

Dont play poker...you'll loose your shirt

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26 minutes ago, Butthead said:

Doctors earn good wages and often have surplus income

People with surplus income look for something to do with it that allows it to grow

The property market, rightly or wrongly, is viewed as a way of getting a good return. It's also fashionable.

It's as simple as that really.

<1% savings rates convinces people there are better deals elsewhere

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if your a banker and you sell debt, sending BTL mortgage deal letters to anyone who has 'Dr' in front of their name seems a no-brainer. 

The more they earn the more debt you can lash onto them. 

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4 minutes ago, insertcoinstocontinue said:

I'm stating a high proportion of doctors are Asian, likewise btl "entrapenuers". Now kindly feck off.

Where's your evidence on the proportion on BTL landlords who are to employ your label "Asian people" or is that some nonsense you made up because you are a racist idiot?

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1 hour ago, Kurt Barlow said:

1 Million lifetime limit on pension contributions also likely to be a factor

And tax efficiency

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18 minutes ago, Beary McBearface said:

Full disclosure, there are other set theory flaws in your argument which will allow a non-racist idiot conclusion, but it is not looking good on the racist front right now.

Game on.

He really didn't deserve that reaction. And I say this as someone married to a Bengali girl with a mixed race child. Some people who constantly ram the race card down other's throats need a good dose of what racism actually is. I've been beaten up badly by a gang for being white - that's racism. Discrimination at work through colour is racism. Making an inoffensive observation, even if you think it unfounded, is not racism.

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  • 296 Brexit, House prices and Summer 2020

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      • down 5% +
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      • Even
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      • up 5%



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