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Mr Blek

Skills Needed To Be A Successful Landlord

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If you are a landlord, you are essentially running your own business. With the number of BTLs in the market, have they all suddenly got skills in business and economics?

I know my landlady knows sweet fa about yields, inflation, stagnation etc. She does think she is an entrepreneur though. :lol: I would never employ someone who has no IT skills, so why do banks lend to people who obviously have no business skills? If I want a business loan of the bank, I need to take in a business plan backed up by accounts and forecasts. So why not apply the same principles to BTLs?

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If you are a landlord, you are essentially running your own business. With the number of BTLs in the market, have they all suddenly got skills in business and economics?

I know my landlady knows sweet fa about yields, inflation, stagnation etc. She does think she is an entrepreneur though. :lol: I would never employ someone who has no IT skills, so why do banks lend to people who obviously have no business skills? If I want a business loan of the bank, I need to take in a business plan backed up by accounts and forecasts. So why not apply the same principles to BTLs?

so far it needed none( look at ttrtr :))

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Guest horace

If I want a business loan of the bank, I need to take in a business plan backed up by accounts and forecasts. So why not apply the same principles to BTLs?

I presume that is because the Lender has a property to liquidate if btl`er goes tits up unlike many business

start ups which may have very limited assets.

horace

Edited by horace

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If you are a landlord, you are essentially running your own business. With the number of BTLs in the market, have they all suddenly got skills in business and economics?

I know my landlady knows sweet fa about yields, inflation, stagnation etc. She does think she is an entrepreneur though. :lol: I would never employ someone who has no IT skills, so why do banks lend to people who obviously have no business skills? If I want a business loan of the bank, I need to take in a business plan backed up by accounts and forecasts. So why not apply the same principles to BTLs?

Could it be that if they only loaned to landlords who could balance the figures properly they wouldn't have a sufficient number of people left to loan money to.

Billy Shears

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Heh! I have a BTL contract staff member sitting next to me at work.

Tried to tell me that I would be better of buying, as I would end up paying less than rent! :blink:

Doesn't quite have a finger on the pulse eh?

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This is one of the reasons I think BTL should be done through a LTD company. They would then have to file accounts with companies house for us all to see, also to get credit they would have to produce such forecasts (cash flow etc) for the bank.

It may be difficult for this to be forced on the public, as some have second homes etc etc. So I would like to see costs (interest on mortgage etc) not allowed to be offset against rental income. Bascially, making it not feasible to get a BTL unless you start a limited company.

What do you think?

Edited by Jason

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No skills... Timing. That’s what it’s all about.

If you bought a property a few years back then you could be

set-up for the rest of your life.

If however you mew’d to grow your port-folio (like some of the landlords here!)

Then you / they could lose the lot…. :unsure:

That is why, in my opinion, ‘they’ don’t agree with the timing theory, because

They are worried, hence their obsession with this site!

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Guest muttley

If you are a landlord, you are essentially running your own business. With the number of BTLs in the market, have they all suddenly got skills in business and economics.

Avery good point.

I know a couple of landlords who have been doing BTL for years, and clearly have done very well.*

I also know a couple of landlords who came into the game recently who think they are great business people.So much so that one of them has started an unrelated business on the strength of his modest BTL portfolio.

I don't believe people suddenly become good business people in their fifties.

*Neither of these guys have bought anything since 2003.

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  • 301 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%



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