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Guest The_Oldie

Fry To Let!

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Guest The_Oldie

The wife and I stopped off for some take away fish & chips this afternoon.

Whilst we were waiting, the wife got chatting to the young lad who works behind the counter. He's about to exchange contracts on his second buy to let :rolleyes:.

This is the closest I've come to the Joe Kennedy and the shoe shine boy scenario.

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Don’t let it worry you. The property he has just bought is more than likely grossly overpriced and it will be back for sale shortly when the interest rates rise.

Perhaps then someone can by it to live in rather than to leach from.

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The wife and I stopped off for some take away fish & chips this afternoon.

Whilst we were waiting, the wife got chatting to the young lad who works behind the counter. He's about to exchange contracts on his second buy to let :rolleyes:.

This is the closest I've come to the Joe Kennedy and the shoe shine boy scenario.

Yep you cannot beat buying a leaverage investment, that is so hard to get out off if and when the market turns........it would be interesting to see if he manages to "Cash in his Chips."...without getting his fingers burnt.

I'll get my coat

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Yep you cannot beat buying a leaverage investment, that is so hard to get out off if and when the market turns........it would be interesting to see if he manages to "Cash in his Chips."...without getting his fingers burnt.

I'll get my coat

Smells a bit fishy to me. People on here will be able to rub salt in his wounds if the price crashes though ......

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please tell me which bank would give him a morgage on any house as a fry boy. (needed deposit im guessing)

Then what bank would give him a second morgage on a BTL (needed equity from his house im assuming for deposit)

Then what complete idiots would give him a 3rd morgage on his 3rd BTL ( he obviously needed to rip equity out of something)

Sounds fishy to me too and if this is the kind of people buying no doubt on IO or 125% morgages - we really need to regulate and jack up the interest rates and start bad publicity about house prices.

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The wife and I stopped off for some take away fish & chips this afternoon.

Whilst we were waiting, the wife got chatting to the young lad who works behind the counter. He's about to exchange contracts on his second buy to let :rolleyes:.

This is the closest I've come to the Joe Kennedy and the shoe shine boy scenario.

[sarcasm] What? the peasant scum having the wherewithal to try to better themselves. How dare they, have them flogged [/sarcasm]

Perhaps it is simply a case of this “young lad” having more money than you. Perhaps he owns the shop or a whole chain of them. Perhaps he works more than one job and saves everything he can to invest (in property among other things). Perhaps he doesn’t waste his money on consumer junk and electronic gadgets. He may also have made a lot of money on his first property investment which he is using to fund his next property investment (rightly or wrongly only time will tell - but at least he has the balls to try to improve his lot in life rather than sit around expecting someone or something [a HPC] to come to his aid).

You seem to be saying he should just accept his life in the chip shop (if that is actually the situation) and never try to improve it because that might involve risk. He is a “young lad” so this is the perfect time for him to take risks - if it all goes wrong he has plenty of time to try again. You want him to give up before he even tries.

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[sarcasm] What? the peasant scum having the wherewithal to try to better themselves. How dare they, have them flogged [/sarcasm]

Perhaps it is simply a case of this “young lad” having more money than you. Perhaps he owns the shop or a whole chain of them. Perhaps he works more than one job and saves everything he can to invest (in property among other things). Perhaps he doesn’t waste his money on consumer junk and electronic gadgets. He may also have made a lot of money on his first property investment which he is using to fund his next property investment (rightly or wrongly only time will tell - but at least he has the balls to try to improve his lot in life rather than sit around expecting someone or something [a HPC] to come to his aid).

You seem to be saying he should just accept his life in the chip shop (if that is actually the situation) and never try to improve it because that might involve risk. He is a “young lad” so this is the perfect time for him to take risks - if it all goes wrong he has plenty of time to try again. You want him to give up before he even tries.

A reasonable point, badly made.

If you'd left out the stereotypical guff about gadgets and people sitting on their arses waiting for hpc to rescue them, you may even have got some respect for your post.

An ipod a mobile and a computer never stopped anyone affording a house. It's spending 60-70% of your income on a house that stops people affording it.

In addition there are many many people on this site getting on with their lives and being very successful in life. The only thing is, they don't own a house. You may not understand this, but many of these people don't see that as a problem.

Back OT I fully agree that this "young lad" may own the shop. It was the first thing that went through my mind. The second thing that went through my mind is that he probably doesn't have a pension (being self employed) and is a little misguided in thinking that this BTL venture will be his pension. Good luck to him.

NDL

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Guest The_Oldie

[sarcasm] What? the peasant scum having the wherewithal to try to better themselves. How dare they, have them flogged [/sarcasm]

Perhaps it is simply a case of this “young lad” having more money than you. Perhaps he owns the shop or a whole chain of them. Perhaps he works more than one job and saves everything he can to invest (in property among other things). Perhaps he doesn’t waste his money on consumer junk and electronic gadgets. He may also have made a lot of money on his first property investment which he is using to fund his next property investment (rightly or wrongly only time will tell - but at least he has the balls to try to improve his lot in life rather than sit around expecting someone or something [a HPC] to come to his aid).

You seem to be saying he should just accept his life in the chip shop (if that is actually the situation) and never try to improve it because that might involve risk. He is a “young lad” so this is the perfect time for him to take risks - if it all goes wrong he has plenty of time to try again. You want him to give up before he even tries.

Eh?????

He is actually a nice lad and I wish him well. There is no way he owned the shop, it is part of a huge chain.

My point however was the parallel with the Joe Kennedy and the shoeshine boy story.

The late Joseph Kennedy, father of President John F. Kennedy, used to tell about having his shoes shined on the morning before the stock market crash in 1929. As he applied the polish, the shoeshine boy told Kennedy about all the investments he planned to make that day in various speculative stocks. The shoeshine boy had a portfolio! When he heard that, Kennedy realized that stock market dreams had become a national mania. He rushed to his office, sold all of his stocks and thus preserved the Kennedy family fortune from the frenzied decline that began the very next day.

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Smells a bit fishy to me. People on here will be able to rub salt in his wounds if the price crashes though ......

:lol::lol::lol:

Does anyone else get Javascript errors when pasting smileys?

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The wife and I stopped off for some take away fish & chips this afternoon.

Whilst we were waiting, the wife got chatting to the young lad who works behind the counter. He's about to exchange contracts on his second buy to let :rolleyes:.

This is the closest I've come to the Joe Kennedy and the shoe shine boy scenario.

Follow him home and batter him on the door step!

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The UK property market is not alld oom and gloom.

Although you would like everyone to think that it is.

You are being an ass thinking that the lad in the chippy is being an ass as from my experience, chippies are run by fairly switched on business people and their extended families who sometimes may need to utilise some of their profits.

There were similar people buying 1989 / 1990 / 1991 to the ridicule of many but those same people are now financially sorted and will be reading the paper at home while many who mocked are still commuting to work.

Although it is the aim of the big it up investors to buy low and sell high then brag to everyone forever and a day, there can still be cash to be had by just getting in.

Your generalisation on this topic only underlines your fear.

:D

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Guest muttley

This is the closest I've come to the Joe Kennedy and the shoe shine boy scenario.

I thought it was John Rockerfeller who got the tip from the shoeshine boy.

I wonder if it crossed his mind that the boy owned the stall, and a chain of shoeshine stalls all over New York. You don't look so clever now, eh, Mr Rockerfeller?

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Guest The_Oldie

You are being an ass thinking that the lad in the chippy is being an ass as from my experience, chippies are run by fairly switched on business people and their extended families who sometimes may need to utilise some of their profits.

Who on earth said he was an ass?

The chippy is owned by a PLC by the way.

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Guest The_Oldie

:rolleyes: at the end of your sentence.

PLC or no - still cash to be made.

:rolleyes: = Ass, I must remember that in future :rolleyes:.

For the last time, the young lad who works behind the counter of a large chain of fish and chip shops owned by a PLC, is currently buying his second BTL. Of course he may have considerable personal funds, but it is more likely that he is heavily mortgaged. He is a nice lad and whilst I admire his entrepreneurial spirit, I fear for his financial future as he is, in my opinion, buying at the top of the largest housing bubble in history.

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:rolleyes: at the end of your sentence.

PLC or no - still cash to be made.

I don't want to p1ss on your chips, but there ain't. Yield around 5% most places now. Better off with ING.

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Bloody arrogant don't you think?

There were people like you back in 1990.

They are now reliving what could have been.

You are predicting what will happen based on what HAS happened.

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Bloody arrogant don't you think?

There were people like you back in 1990.

They are now reliving what could have been.

You are predicting what will happen based on what HAS happened.

No, the really arrogant ones did their sums properly and bought in '95.

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Guest The_Oldie

When interest rates rise, he'd better get his skates on and sell quickly.

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I don't want to p1ss on your chips, but there ain't. Yield around 5% most places now. Better off with ING.

<devil's advocate> Yes, but if you could, say, borrow 400k at 4.5% and put it in ING earning 5% wouldn't you do it. </devil's advocate>

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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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