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According to local real-estate agents, condominiums and single-family homes throughout Palm Beach County and the Treasure Coast are leasing for 30 to 50 percent less than the monthly costs, including property taxes and sky-high insurance premiums, of owning the same property

When the market turns and a crash develops BTL are nearly always the first victims. Speculation property/BTL is best bought low and sold when high. Hang on and you lose.

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According to local real-estate agents, condominiums and single-family homes throughout Palm Beach County and the Treasure Coast are leasing for 30 to 50 percent less than the monthly costs, including property taxes and sky-high insurance premiums, of owning the same property

When the market turns and a crash develops BTL are nearly always the first victims. Speculation property/BTL is best bought low and sold when high. Hang on and you lose.

never a truer word said, the problem that I see with many of the new BTL's is that they forget the old Goldsmith adage " "When you spot a bandwagon, you've missed it"

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I watched a programme the other day.

A middle aged women, buying a flat in Bulgaria that was under construction, in a development that must number 1,000 flats.

The Presenter kept referring to her as a property developer, the more he awarded her with this title, the wider her smile became, she started to believe it herself.

How the F4ck can buying a flat, buying the furniture for it, be considered property development?.

What is even funnier, they got the agents in who sold it to her to revalue it when she had furnished it.

Yes!!!, in three months they told her she had made 20k in profit, it was worth 20k more than she paid for it.

They also told her that the 50k flat would rent out for 1,000pcm, and that she would have an 85% occupancy rate.

To me, when I see sh1t like this on Tv, and people like this that are so gullible they ask the agent who sold the property for a revalution, then it really and truly must be the end of the market.

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never a truer word said, the problem that I see with many of the new BTL's is that they forget the old Goldsmith adage " "When you spot a bandwagon, you've missed it"

Yeah, I can sincerely agree with that!

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I watched a programme the other day.

A middle aged women, buying a flat in Bulgaria that was under construction, in a development that must number 1,000 flats.

The Presenter kept referring to her as a property developer, the more he awarded her with this title, the wider her smile became, she started to believe it herself.

How the F4ck can buying a flat, buying the furniture for it, be considered property development?.

What is even funnier, they got the agents in who sold it to her to revalue it when she had furnished it.

Yes!!!, in three months they told her she had made 20k in profit, it was worth 20k more than she paid for it.

They also told her that the 50k flat would rent out for 1,000pcm, and that she would have an 85% occupancy rate.

To me, when I see sh1t like this on Tv, and people like this that are so gullible they ask the agent who sold the property for a revalution, then it really and truly must be the end of the market.

She is a property investor. A developer does just that, develops a property.

It's not rocket science but it it does seem to baffle most property program presenters.

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To me, when I see sh1t like this on Tv, and people like this that are so gullible they ask the agent who sold the property for a revalution, then it really and truly must be the end of the market.

Talking about sh!t on TV - there was an Under the Hammer on earlier. I don't know when the program dates from (wish they would put a date on the screen) but it didn't look good ...

One property was a very grotty maisonnette in a Victorian building in Tonbridge. Looked like it needed a lot of work - barge boards, guttering, windows - all delapidated - inside it needed everything. A computer programmer and his wife bought it as a BTL investment. They lashed it up. Fireplaces were damaged so they painted over them! Usual mag out job. New bathroom and kitchen I think - usual stuff - agents at the end criticised it a lot and said priced it up at £125k - which is what they paid for it at auction.

Not downhearted though - the dopey presenter finished up with 'still need to do a bit of work to squeese a profit out of this one' - as if the possibility of not making a profit from property could not ever be considered. By the time you take into account buying fees, mortgage payments while the place is unoccupied, cost of (poorly done) work, (selling fees if they decided to sell) they were looking at a thumping loss.

Another property was what looked like an ex-council semi which they referred to as a cottage somewhere in Staffordshire. Nice looking village. Bloke worked his nuts off on it himself and looked as though he had made a reasonable fist of it.

Bought at 119k at auction - valued at £160k to £170k by the vermin. Throw in the buying costs, selling costs and costs of renovation - property development of this sort is great if you value your time at about £4.75 an hour. Flipping burgers seems easier to me.

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Interesting, Marina. I am presently eagerly awaiting the Land Registry update for a recent sale by a friend of mine who, save the sex-change, became a "Sarah Beeny" in 2005.

He recently conceded that he would live in his latest purchase for a while before "[flipping]" it since the transation costs were "a lot."

I wonder when the people of the UK will go back to work?

Labour isn't working.

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She is a property investor.

I think you meant 'property speculator'... she's clearly not making a rational investment.

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She is a property investor. A developer does just that, develops a property.

Technically the bank is the 'investor' as they retain the collateral, technically she is a "debt liability holder", which involves creeks and paddles.

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Interesting, Marina. I am presently eagerly awaiting the Land Registry update for a recent sale by a friend of mine who, save the sex-change, became a "Sarah Beeny" in 2005.

He recently conceded that he would live in his latest purchase for a while before "[flipping]" it since the transation costs were "a lot."

I wonder when the people of the UK will go back to work?

Labour isn't working.

or perhaps he was working the "primary residence" capital gains "opt out" clause.

i pay my taxes... it is my duty as a citizen. seems to be a lifestyle choice to many nowadays.

ellen

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i pay my taxes... it is my duty as a citizen. seems to be a lifestyle choice to many nowadays.

When the government abdicates its duty to its citizens, it can hardly complain that the citizens abdicate their duty to the government.

That said, I'm very surprised that they haven't been going after BTLs who are 'neglecting' to pay capital gains tax. Of course we'd all be much better off if there was no CGT on investment and no special treatment for houses: instead we get vast amounts of money thrown into property speculation because it's tax-free whereas real productive investment is taxed to hell.

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When the government abdicates its duty to its citizens, it can hardly complain that the citizens abdicate their duty to the government.

That said, I'm very surprised that they haven't been going after BTLs who are 'neglecting' to pay capital gains tax. Of course we'd all be much better off if there was no CGT on investment and no special treatment for houses: instead we get vast amounts of money thrown into property speculation because it's tax-free whereas real productive investment is taxed to hell.

tell me about it...can i get nhs dental treatment fo myself or my children? no..

but i still feel i have a duty to pay taxes and do so willingly in the hope that others do to.

your are quite right about productive investment. property tax is extraordinarily lax... not so business rates and taxes.

ellen

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Yep renting is certainly good value these days and getting better.

I remember about 5 years ago my sister was renting an average flat in a not so nice area of Bournemouth for £600 a month. Now that will get a nicer flat in a better area.

On Poole Quay there is a new development of luxury flats, bought by investors for a top money a couple of years ago. Now coming up for rent for £775 and £850 a month for 2 bed flats with harbour views.

All over the area there are also bungalows and houses being put up for rent for similar money.

Even my bullish father in law doesn't understand why the luxury flats are being rented out so cheaply when the investors could earn more in the bank.

I told him they were in it for the very long term and were hoping for large capital gains (looks like they will be waiting some time :):) )

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According to local real-estate agents, condominiums and single-family homes throughout Palm Beach County and the Treasure Coast are leasing for 30 to 50 percent less than the monthly costs, including property taxes and sky-high insurance premiums, of owning the same property

When the market turns and a crash develops BTL are nearly always the first victims. Speculation property/BTL is best bought low and sold when high. Hang on and you lose.

Only the BTLs who rule their lives through TV and the "someone else has done it" mentality will lose.

They deserve it because they are driven by lazy greed.

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Only the BTLs who rule their lives through TV and the "someone else has done it" mentality will lose.

Every BTL will lose if house prices drop 50% in a crash. Only the idiot BTLs will go bankrupt, but there seem to be a heck of a lot of them.

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Every BTL will lose if house prices drop 50% in a crash. Only the idiot BTLs will go bankrupt, but there seem to be a heck of a lot of them.

I meant the clever BLTs will have already cashed in. Lets hope the dim ones keep clinging on under the "property goes up lie".

That way, they'll be more repossessions and desperate sales to mop up.

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Heh. I knew I could smell TTRTR's return to the forum.

Since your back from your holiday champ, one last bump for your benefit.

Edited by geneer

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u r wasting ur time dude.

He's probably already frantically trying to 'fix' his mortgages, 3 months too late.

Game over for the lazy kiwi.

yeah. funny how ttrtr picks and chooses what to respond to.

he's a conglomerate of all three monkeys.

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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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