Jump to content
House Price Crash Forum
Sign in to follow this  
Mr_Nice

Property Clubs Still Seem To Be Booming

Recommended Posts

Thought I would share an anecdotal. Take from it whatever you like.

A colleague at work, who is bright guy, is currently buying a discounted place in Eastbourne for his family. Fair enough.

However, when I asked if he had exchanged he confidently told me that he has bought two flats off plan through an investment club. Gulp. In a nutshell he said that he was rung at 7.00am and told he had to grab the opportunity by 9.00am and he went for it. Had all the usual spiel flats at a discount, guaranteed rent blah blah. All he had to do was put down 8k on each and the mortgage was secured against the flat themselves no remortgage of home or earnings review.

Reckons in year or two that he will be able to give up work and look after his housing empire full time.

So, conclusion I am drawing is that there still is

1. a lot of people out there who are still getting drawn in

2. a lot of easy money still readily available

3. that ‘if’ this does crash then the leverage out there could speed things up more than people expect

In the mean time I can now honestly say I am happy renting. Why, because my net worth is booming, my living expenses are fack all, I am now appreciating the freedom of mortage free life and I am actually enjoying living in different places. Off to the country next month. Give it a whirl

Share this post


Link to post
Share on other sites
Reckons in year or two that he will be able to give up work and look after his housing empire full time.

He's a real on-tr-pra-nour along the lines of Donald Trump and Richard Branson. Get's his money for nothing and his chicks for free.

Share this post


Link to post
Share on other sites

and who can blame them when they see figures like this:

Latest figures have shown a property in the West Midlands valued at £111,418 in January 2005 is currently worth £135,248 in today's market. And landlords who have let a property of that value over the last twelve months have raised £7,534 rental income, and so in just one year, have made £31,364 profit through their buy-to-let investment.

?

Anyone have any idea where those figures come from - surely not TMC itself?

Share this post


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...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 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.