Locke Posted March 8, 2021 Share Posted March 8, 2021 (edited) 1 hour ago, crescent said: This is why Lloyds and others will jump in to fill a void as they see it - they will not care if they lose money over 5-10 years they will just buy and sit on places for our lifetime @spyguy Sorry- did not see you had responded already. Edited March 8, 2021 by Locke Quote Link to comment Share on other sites More sharing options...
moonriver Posted March 8, 2021 Share Posted March 8, 2021 14 hours ago, highcontrast said: https://www.property118.com/governments-so-called-protection-is-damaging-decent-tenants-prospects/ That makes me smile/laugh so hard Karma baby. 14 hours ago, Postman said: The whining and moaning on the comments thread is pure gold. Yes Karma indeed with LL's in full whinge moan mode. They are doublly peed off in Wales. They can add getting rid of S21 now to the ongoing "inconvenience" of having to register under "Rent Smart Wales". If they don't like the legislation now, they need to just stop moaning and get on and sell, then find a real job. Another comment from same link... Quote I currently have 3 properties empty and will not relet any under the present conditions. 3 bed detached in N Wales part way through a refurb, delayed by covid, after the tenant from hell. Empty since March 2020 rent was £750 per month. Will eventually be going on the market. 2 bed flat N Wales empty since end Feb, gone straight on the market for sale rent was £525 per month. The decision to sell these 2 is also partly due to Rent Smart Wales putting me through hell when I tried to renew my registration. I paid them twice, they did not renew and then gave me notice that my registration was being cancelled and I could no longer be a landlord in Wales. Took 2 months to resolve and left me stressed. 2 bed flat in Manchester in a prime area, empty since Oct 2020. Tried to re let,plenty of applicants, but none I would accept under present legislation. Placed on the market Feb and sold. Rent was £700 per month. As other properties become vacant, my policy is now to sell. Quote Link to comment Share on other sites More sharing options...
Pop321 Posted March 8, 2021 Share Posted March 8, 2021 25 minutes ago, moonriver said: Yes Karma indeed with LL's in full whinge moan mode. They are doublly peed off in Wales. They can add getting rid of S21 now to the ongoing "inconvenience" of having to register under "Rent Smart Wales". If they don't like the legislation now, they need to just stop moaning and get on and sell, then find a real job. Another comment from same link... Only think is it seems that should they decide to sell that there are plenty of numpties lining up to buy and bail these guys out. Even in Wales. 🤦🏻♂️ Quote Link to comment Share on other sites More sharing options...
Confusion of VIs Posted March 8, 2021 Share Posted March 8, 2021 3 hours ago, spyguy said: IIRC he had fixed a large number of mortgages and risked the repayment penalties as it dawned on him that S24 doomed his plan. IIRC he was borrowing as an individual, not as a LdCo or self-employed. The IO BTL setup was a pure leverage speculation. as far as as 'people dont do this with 9m ...' Sadly they and the banks *DID*. Ove the years, Ive come to know of several people whove borrowed well over 2m on IO BTL loans to speculate on housing. No advice sort, of investigation into the plan. IIRC he did not intend to inform the mortgage companies of the change of status. I cannot recall the details but remember commenting that his strategy relied on him becoming the landlord version of Schrodinger's cat, simultaneously in the UK and Malta. So far no one seems to have opened the box. Quote Link to comment Share on other sites More sharing options...
Sprite Posted March 8, 2021 Share Posted March 8, 2021 Its interesting to read that article. It does convince me that we haven't really seen the full effects of covid. Once furlough/government support ends, we will see how things are really going with unemployment etc. Quote Link to comment Share on other sites More sharing options...
Fred1981 Posted March 8, 2021 Share Posted March 8, 2021 On the other hand... https://www.propertytribes.com/rental-market-exploding-t-127651510.html Quote Link to comment Share on other sites More sharing options...
Former postman Posted March 8, 2021 Share Posted March 8, 2021 36 minutes ago, Fred1981 said: On the other hand... https://www.propertytribes.com/rental-market-exploding-t-127651510.html One comment reads: The Budget has generally been good for jobs and good for property, but the can has simply been kicked further down the road imho. Make hay while the sun shines and fix the leaky roof at the same time - in order words, optimise the circumstances and opportunities, while at the same time preparing for another down-turn! 'Another downturn' When was the first downturn? Must have missed it Quote Link to comment Share on other sites More sharing options...
Fred1981 Posted March 8, 2021 Share Posted March 8, 2021 11 minutes ago, Postman said: 'Another downturn' When was the first downturn? Must have missed it Maybe 2008/9? Quote Link to comment Share on other sites More sharing options...
Si1 Posted March 8, 2021 Share Posted March 8, 2021 7 hours ago, moonriver said: Yes Karma indeed with LL's in full whinge moan mode. They are doublly peed off in Wales. They can add getting rid of S21 now to the ongoing "inconvenience" of having to register under "Rent Smart Wales". If they don't like the legislation now, they need to just stop moaning and get on and sell, then find a real job. Another comment from same link... Rent 700 a month and no-one he wanted was interested. Could try reducing the rent??? Quote Link to comment Share on other sites More sharing options...
Locke Posted January 4, 2022 Share Posted January 4, 2022 On 15/12/2020 at 14:33, Unmoderated said: Aside from the fact that there will be many, many lottery tickets posting better returns from this I'm calling London flats bought with a 5% deposit. Total return on equity we're talking. On 15/12/2020 at 13:57, markyh said: Everyone on the Bitcoin thread who didn't bottle it and sell @ $30, (or failed to buy @ $30) are laughing. We have houses, and soon to be mortgage free, and 1000% gainz since 2013. Lets take a bet now on the best investment for 2021, from 1st jan to 31st of December, i'm calling Bitcoin. But it's fine, sit in cah losing money @ 0.5% p/a, Just dont moan you are poor and cant afford a house, Bitcoin is the "Great Reset" So what do we reckon lads? Bitcoin 15 Dec 2020: $19,400 31 Dec 2021: $46,600 140% return London Flats: Someone please calculate this Quote Link to comment Share on other sites More sharing options...
markyh Posted January 4, 2022 Share Posted January 4, 2022 6 minutes ago, Locke said: So what do we reckon lads? Bitcoin 15 Dec 2020: $19,400 31 Dec 2021: $46,600 140% return London Flats: Someone please calculate this @Unmoderated ? I pretty sure i said at the time you can enter Bitcoin for £1 completely unleveraged, you cant buy £1 of a London flat, and very few could "invest" in a London flat unleveraged. I will make a new Bet for 2022, PulseChain (a crypto) . Not released yet, most likely will go mainnet in Q1 2022, will start 2022 at launch @ £0.00. I already have 28m+ allocated to me from the sacrifice stage months back. I'm thinking a minimum of 500% from it's 1st registered trade price once launched. Oh, and as predicted, in 2021, i became a paper ££ Millionaire and cashed out £300k to clear my mortgage. So now i have a £600k+ house and zero mortgage. How did cash savings do everyone? 1% ? Quote Link to comment Share on other sites More sharing options...
Ignorantbliss Posted January 4, 2022 Share Posted January 4, 2022 Ah the fun of having tenants... https://www.dailyrecord.co.uk/in-your-area/lanarkshire/nightmare-neighbours-who-left-lanarkshire-25810223 Quote Nightmare neighbours who a Coatbridge landlord claims left him thousands of pounds out of pocket have allegedly struck again, this time in Cumbria, and could soon be heading back to Scotland. Convicted conwoman Janet Perrie, 65, was jailed for 22 months in 2009 after embezzling more than £130,000 from the Scottish Conservatives, where she worked as a political assistant. After she was jailed, the bank repossessed Orbiston Kennels in Bellshill that were owned by Perrie. Fiona Hope, 58, was the manager of the dog breeding kennels, which had run up mortgage arrears of £15,000. Perrie, who also uses the surname Roy, along with friend and co-habitant Hope were the subject of Channel 5 television programme: The Nightmare Neighbours Next Door. The pair had moved into a cottage in Ayrshire owned by a Coatbridge man and had more than 20 dogs, including Rottweilers, living with them. Colin Burns later claimed they cost him around £20,000 in rent arrears and repair costs before doing a "runner”. He also said he had never seen “such filth” after they “totally trashed the property” and left it littered with dog faeces. Perrie and Hope are now set to be brought to court in Carlisle as their current landlords Gary and Maggie Philip attempt to oust them from a property they bought in July. Perrie and Hope were already tenants in the property in Alston, Cumbria but they failed to move out of the house in January as agreed, citing Covid issues. Gary said: “We can’t get into the property at all now; they say we’re harassing them and all sorts of things. They claim my wife attacked one of them and spat at one of them. "We’ve seen the previous stories on them and it’s almost a mirror image of what they’re doing here. It amazes me how they can continue to get away with it.” Gary, 64, and Maggie, 58, have been forced to stay in a barn owned by the cottage’s previous owners while they await a court date as they attempt to remove Perrie and Hope from the rural four-bedroom detached house. Maggie added: “They have 24 dogs and over 100 ducks at the house and nowhere to put them – it’s bizarre! “They put concrete down and were putting sheds up without permission. “Those two are just absolutely appalling and what they did to Colin Burns was appalling. And if you could see what they’ve done here... “They haven’t paid any rent since May and it’s around £7000. “They accused me of going over the fence and spitting which made me so mad. I just don’t do things like that. “They’re an evil pair and people need to know that and stop them. They’ve hurt so many people but have now come across someone who is going to fight back.” Gary added: “Our hope is that they won’t be doing this to anyone else.” Quote Link to comment Share on other sites More sharing options...
Pop321 Posted January 4, 2022 Share Posted January 4, 2022 7 minutes ago, Locke said: So what do we reckon lads? Bitcoin 15 Dec 2020: $19,400 31 Dec 2021: $46,600 140% return London Flats: Someone please calculate this I am not a Bitcoin enthusiast nor a lot of the current Tech stocks which feel very bullish. I think a lot of traditional businesses ie mining, energy producers ie oil, some banks and even some telecoms trading on low P/Es and high dividends will do well this year. A lot did pretty well in 2021. Property depends on the government as ever. Either up 15% or down 30% or indeed anywhere in between. All down to the numerous props. London Flats….hmmm, avoid probably. The most important thing to do when investing in never spend too much time looking in the rear view mirror. Big Stock market falls and property crashes have been great for some looking ahead whilst the majority avoid investments as they fall…despite the fact they are effectively getting cheaper. Despite my thoughts on Bitcoin, crypto and the metaverse….I wouldn’t bet against them for 2022 returns based on the euphoria and support they are currently getting. Quote Link to comment Share on other sites More sharing options...
markyh Posted January 4, 2022 Share Posted January 4, 2022 2 minutes ago, Pop321 said: London Flats….hmmm, avoid probably. Correct, wasn't looking to good based on the LR October 21 figures out in December, we will need to wait until February for the full 2021 vs 2020 figures. London London shows, on average, house prices have risen by 1.9% since September 2021. An annual price rise of 6.2% takes the average property value to £516,285. Flat/maisonette £434,260 £415,993 4.4 £415993 put in Bitcoin 15th December 2020, would have been 28.58 BTC @ $19400 (@ $1.33288) On 31/12/21 that would be worth £985.575.59 (@ $1.35132 ) A return of £569582. And you had the option to cash out in March , April or November for a lot lot more!! Trading costs about £10 for the blockchain for buy and sell. As they say in court, I rest my case. Quote Link to comment Share on other sites More sharing options...
Cocha Posted January 4, 2022 Share Posted January 4, 2022 On 3/8/2021 at 9:27 AM, spyguy said: Banks care very much if they lose money. But can't they now just hold them on their books at whatever the "value" was at the time of repossession, as they don't have to flog them off at auction? Therefore they avoid marking to market and get to make on the rental side, win-win? Quote Link to comment Share on other sites More sharing options...
spyguy Posted January 4, 2022 Share Posted January 4, 2022 28 minutes ago, Cocha said: But can't they now just hold them on their books at whatever the "value" was at the time of repossession, as they don't have to flog them off at auction? Therefore they avoid marking to market and get to make on the rental side, win-win? And do what with them? Banks are in the business of lending money not running rentals. No they cant. Once a loan goes bad the bank has to hold capital against it. Expensive. This is why banks are v keen to sell, no matter what the discount. Quote Link to comment Share on other sites More sharing options...
Cocha Posted January 4, 2022 Share Posted January 4, 2022 5 minutes ago, spyguy said: And do what with them? Banks are in the business of lending money not running rentals. No they cant. Once a loan goes bad the bank has to hold capital against it. Expensive. This is why banks are v keen to sell, no matter what the discount. Appreciate your reply to this Spyguy. I was of the understanding that there was a law change last year (well 2020), to allow banks to now become landlords as well? I'm pretty sure I read an article where Lloyds were claiming they wanted 50K rental properties and another is building a new estate purely for the intent of renting out the properties. It just seems that this would provide an opportunity for this to be extended further and repossessed properties added to their 'portfolios' rather than sell at auction for less. Quote Link to comment Share on other sites More sharing options...
Locke Posted January 4, 2022 Share Posted January 4, 2022 1 hour ago, markyh said: @Unmoderated ? I pretty sure i said at the time you can enter Bitcoin for £1 completely unleveraged, you cant buy £1 of a London flat, and very few could "invest" in a London flat unleveraged. I will make a new Bet for 2022, PulseChain (a crypto) . Not released yet, most likely will go mainnet in Q1 2022, will start 2022 at launch @ £0.00. I already have 28m+ allocated to me from the sacrifice stage months back. I'm thinking a minimum of 500% from it's 1st registered trade price once launched. Oh, and as predicted, in 2021, i became a paper ££ Millionaire and cashed out £300k to clear my mortgage. So now i have a £600k+ house and zero mortgage. How did cash savings do everyone? 1% ? Any way to get in early? To be entirely fair to @Unmoderated he did specify a property with a 5% deposit. I don't know what the London flat market has done, or what fees would be involved in such a scheme. Try selling the flat though LOL! Quote Link to comment Share on other sites More sharing options...
Brave New World Posted January 4, 2022 Share Posted January 4, 2022 Seen a lot of smaller properties selling to the new frontier of holiday let's for the rentiers in my area (Cotswolds). Lots of froth from Covid and foreign holiday faffing seeing folk going UK more for their holidays. Given the deposit ratios for holiday let mortgages a tasty bit of leveraged equity for banks to eat into before they become exposed. Only so many people to go on holiday in the UK year round (or outside the couple of months of tepid summer we get), could be an interesting watch as we get back to normal. Though post Brexit, is an over priced holiday in blighty a new era reality? Quote Link to comment Share on other sites More sharing options...
Twenty Something Posted January 4, 2022 Share Posted January 4, 2022 Yup, terrible investment is property. So much regret I'm sure. https://metro.co.uk/2022/01/04/lord-sugar-raked-in-390000000-last-year-15862251/ "Lord Alan Sugar reportedly earned a whopping £390million last year in one of the biggest ever paycheques to a British boss. The Apprentice star, 74, supposedly enjoyed a lucrative year after branching out into property, with his earnings being equivalent to more than £1million per day." Quote Link to comment Share on other sites More sharing options...
spyguy Posted January 4, 2022 Share Posted January 4, 2022 6 hours ago, Cocha said: Appreciate your reply to this Spyguy. I was of the understanding that there was a law change last year (well 2020), to allow banks to now become landlords as well? I'm pretty sure I read an article where Lloyds were claiming they wanted 50K rental properties and another is building a new estate purely for the intent of renting out the properties. It just seems that this would provide an opportunity for this to be extended further and repossessed properties added to their 'portfolios' rather than sell at auction for less. Different thing. After ffing up with retail property, lifeco have realised that resi rentals are probably a better hedge against life risk from the life insurance book. They are looking at large, custom builds la Barbucan in major cities. And renting to working people. 50-100 flats, all same build, easy to manage. Lifecis do not want to touch the a portfolio of random houses, here n there. Quote Link to comment Share on other sites More sharing options...
spyguy Posted January 4, 2022 Share Posted January 4, 2022 4 hours ago, Twenty Something said: Yup, terrible investment is property. So much regret I'm sure. https://metro.co.uk/2022/01/04/lord-sugar-raked-in-390000000-last-year-15862251/ "Lord Alan Sugar reportedly earned a whopping £390million last year in one of the biggest ever paycheques to a British boss. The Apprentice star, 74, supposedly enjoyed a lucrative year after branching out into property, with his earnings being equivalent to more than £1million per day." Iirc its commercial property https://www.amsprop.com/portfolio.html Commercial n retail property isnt looking like a great bet. He may be taking money out before it all goes down the sh1tter. 2008 took out a friend of suralun https://www.standard.co.uk/business/rottweiler-kemsley-s-rock-empire-goes-bust-6797898.html Quote Link to comment Share on other sites More sharing options...
spyguy Posted January 4, 2022 Share Posted January 4, 2022 5 hours ago, Brave New World said: Seen a lot of smaller properties selling to the new frontier of holiday let's for the rentiers in my area (Cotswolds). Lots of froth from Covid and foreign holiday faffing seeing folk going UK more for their holidays. Given the deposit ratios for holiday let mortgages a tasty bit of leveraged equity for banks to eat into before they become exposed. Only so many people to go on holiday in the UK year round (or outside the couple of months of tepid summer we get), could be an interesting watch as we get back to normal. Though post Brexit, is an over priced holiday in blighty a new era reality? Brits - and Northern Europeans - will be going to Turkey for holidays. Quote Link to comment Share on other sites More sharing options...
spyguy Posted January 4, 2022 Share Posted January 4, 2022 7 minutes ago, spyguy said: Iirc its commercial property https://www.amsprop.com/portfolio.html Commercial n retail property isnt looking like a great bet. He may be taking money out before it all goes down the sh1tter. 2008 took out a friend of suralun https://www.standard.co.uk/business/rottweiler-kemsley-s-rock-empire-goes-bust-6797898.html See - https://www.retailgazette.co.uk/blog/2020/07/intu-what-went-wrong/ Quote Link to comment Share on other sites More sharing options...
markyh Posted January 4, 2022 Share Posted January 4, 2022 7 hours ago, Locke said: Any way to get in early? Not now , the early entry sacrifice stage ended months back. But , as Ethereum has uniswap and binance coin has Pancake swap , both of which has done 1000x since launch , PulseChain with have it's ove DEX exchange too called PulseX , And that is in sacrifice stage right now full mode until Sunday , then rates start dropping from 10th , and declining all month i believe, so you can get in before launch on that, I am putting £2-3k in this too between now and Sunday. PulseChain and PulseX (PulseSwap) will both launch together sometime in Q1. https://www.pulsex.info/ Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.