Jump to content
House Price Crash Forum

Recommended Posts

  • Replies 56
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Posted Images

1 minute ago, ForGreatLager... said:

No, because I’m not parasite, leaching off other people’s work and exploiting their need for shelter whilst using the constant threat of eviction to get what I want. You?

I rent because I can’t afford to buy. I am 40 this month and have never owned my own home.

I don’t consider BTL to be exploiting people. I know it can be an emotional subject on this site.

Link to post
Share on other sites
1 hour ago, Warlord said:

No way it's not worth the hassle . Being a landlord is not something i could be bothered with.

I agree with you, but there are plenty who don't. 

My father is a buy to let landlord, and he only got into it once he retired. He thoroughly enjoys it, because for him it is a social activity.

He doesn't have many friends his own age ( actually none) and rents his properties only to Japanese and Chinese university students and sometimes spends hours chatting to them, which they seem to genuinely enjoy because they can practice their English. 

He told me once that he doesn't think he would talk to anybody if he didn't have tenants, and regards them as his personal friends, even though they come and go every couple of years.

I don't know whether this kind of thing is funny or sad. 

Link to post
Share on other sites
4 hours ago, RomfordDon said:

After the crash would you be tempted to get into BTL? Let’s say prices fall 60% would you be tempted? Do it as a limited company or some other model?

BTL is a bad investment typically. Even post crash, shares offer better returns on investment and particularly time.

I have been a landlord on a few occasions and might be in the future. I own a flat they I either live in or rent out, that is in a peaceful locations in central Copenhagen. Essentially, I am betting on the Danish economy. Were it away from the centre, I would not do it, nor if it were in the UK.

The UK economy is going to struggle, that will be reflected in a fall in house prices. I do not see that makes BTL, an bet on the UK economy, sensible.

Link to post
Share on other sites
1 hour ago, Society of fools said:

 

He doesn't have many friends his own age ( actually none) and rents his properties only to Japanese and Chinese university students and sometimes spends hours chatting to them, which they seem to genuinely enjoy because they can practice their English. 

 

How is it looking for this September? 

Link to post
Share on other sites
4 hours ago, RomfordDon said:

After the crash would you be tempted to get into BTL? Let’s say prices fall 60% would you be tempted? Do it as a limited company or some other model?

In a 60% price fall scenario there are going to be so many other yielding assets available that don't need constant attention. 

Link to post
Share on other sites

If the numbers stacked up, sure. When everyone’s getting out I’d love to be the investing contrarian.

Link to post
Share on other sites
19 minutes ago, Jozers said:

 

I don't think I could morally justify outbidding a family looking to make a home to turn a tidy profit.

 

Exactly right. Denying people their own home so you can make a profit has, in my view, clear moral problems. I have not ever, and would not ever do it. 

Link to post
Share on other sites
6 hours ago, RomfordDon said:

After the crash would you be tempted to get into BTL? Let’s say prices fall 60% would you be tempted? Do it as a limited company or some other model?

BTL should be restricted to those who can buy the property without a mortgage. So if I could buy a property in cash, and rent it for 10% yield, i might consider it.

I have no problem with landlords & renting in principle - it meets the needs of those who cant or don't want to buy. But I do have a big problem with landlords or borrow at cheap rates and price out FTBs, wanting to make a quick buck with no effort.

Link to post
Share on other sites
38 minutes ago, Jozers said:

I don't think I could morally justify outbidding a family looking to make a home to turn a tidy profit.

I assure you, if prices collapse (qui sais?) no one else will want to buy. You’d be outbidding no one.

Link to post
Share on other sites

I have mixed feelings on the topic.  I would do it but I expect it’s not easy to do well.  Also I think prices may go in reverse so maybe not such a great investment.  Let’s face it, BTL was popular as people with a small deposit could buy houses and benefit from the asset bubble of the last 20 years.  Cars, shares and art would have done well also.  No sign of a crash in any of these just yet but I think when it comes it could be rather quick based on past recessions.  

Link to post
Share on other sites

I recall now why I got pissed off with this site previously.

So many illibertarians aka socialists.

X SHOULDN’T be able to do this.

Try living in China or Saudi or socialist states in US etc

Link to post
Share on other sites

I considered buying a flat in London, when you couldn't give them away in the late 90s. Asking prices were £30K - £40K, and they weren't shifting.

I would not have rented it out though, my only interest was in having a London second home, and of course the chance of a capital gain.

I had the cash in the bank but didn't proceed because, even without tenants, it was too much hassle.

Link to post
Share on other sites
27 minutes ago, Killer Bunny said:

I recall now why I got pissed off with this site previously.

So many illibertarians aka socialists.

X SHOULDN’T be able to do this.

Try living in China or Saudi or socialist states in US etc

This is because socialists have co-opted the language.

"Should not" can mean

  1. Must not
  2. I don't want them to

Most people mean (2), but in practice, the government implements (1).

I have met almost no one who is able to understand this distinction.

 

The question to ask someone who says "People shouldn't do X" is, "Would you personally pick up a gun and shoot them to stop them?"

Rape - yes

Murder - yes

Robbery - Yes (but most people are conditioned to say no; otherwise they would rise against the State, which is harmful to your health)

Buying a property and renting it out - no

 

Link to post
Share on other sites
6 hours ago, RomfordDon said:

After the crash would you be tempted to get into BTL? Let’s say prices fall 60% would you be tempted? Do it as a limited company or some other model?

Moral issues aside, it's too much hassle for too low return. 

Listen to the numbers they quote on HUTH. These are the most optimistic rental estimates that assume continuous tenancy and never include auction fees/agent fees/sdlt/income taxes/maintenance and yet even these fairytale figures are still sub 10% yield. One month void or boiler repair wipes out your annual return. Have a ropey tenant and you're paying all costs yourself and removing another year of profit for every month you can't get rid of them.  

My personal of experience of BTLers was that they are low self esteem losers wanting to pretend they are successful in life, but are too lazy to do what is required for success in anything that doesn't involve property. It's also why i think no amount of taxes will put them off. Realistically what other profession can they hope to do that makes them feel in charge? 

Link to post
Share on other sites
7 hours ago, RomfordDon said:

Let’s say prices fall 60% would you be tempted? Do it as a limited company or some other model?

No chance they will fall 60%

 

8 minutes ago, sammersmith said:

My personal of experience of BTLers was that they are low self esteem losers wanting to pretend they are successful in life,

LOL utter gibberish LOL 

Link to post
Share on other sites
4 hours ago, Society of fools said:

I agree with you, but there are plenty who don't. 

My father is a buy to let landlord, and he only got into it once he retired. He thoroughly enjoys it, because for him it is a social activity.

He doesn't have many friends his own age ( actually none) and rents his properties only to Japanese and Chinese university students and sometimes spends hours chatting to them, which they seem to genuinely enjoy because they can practice their English. 

He told me once that he doesn't think he would talk to anybody if he didn't have tenants, and regards them as his personal friends, even though they come and go every couple of years.

I don't know whether this kind of thing is funny or sad. 

I call BS on this.

One, there's few Jap students these days.

Two, AFAICT *all* Chinese students stick to Uni run halls. or at least,  Uni link property providers.

Chinese dont tend to go into student flophouse.

Plus, I dont think youll be seeing many Chinese student next year, or the next,.

And, finally, student housing is not BTL.  

Link to post
Share on other sites
6 hours ago, Warlord said:

No way it's not worth the hassle . Being a landlord is not something i could be bothered with.

Hassle, oh yes.

I once worked ad hoc for a landlord with 9 properties in South London and outer area.

He was someone I'd previously worked for and I liked and respected him, he's someone I would rent from.

Within weeks I was having trouble with four of the lets, one was the property the other three it was the occupiers all with relationship problems, in one case caused by the horrible people on the nobby estate.

People don't appreciate what's involved to do this properly and so end up not doing it properly, they just see £ signs.

Another landlord of my acquaintance said "don't buy to let, buy to sell". But he paid cash. (During 2000s).

I lasted a matter of weeks and that at a time I really needed the modest amount it was paying.

Link to post
Share on other sites
4 hours ago, Society of fools said:

I agree with you, but there are plenty who don't. 

My father is a buy to let landlord, and he only got into it once he retired. He thoroughly enjoys it, because for him it is a social activity.

He doesn't have many friends his own age ( actually none) and rents his properties only to Japanese and Chinese university students and sometimes spends hours chatting to them, which they seem to genuinely enjoy because they can practice their English. 

He told me once that he doesn't think he would talk to anybody if he didn't have tenants, and regards them as his personal friends, even though they come and go every couple of years.

I don't know whether this kind of thing is funny or sad. 

Must be Manchester or Leeds 

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 415 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.