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geneer

Read It And Weep Ttrtr.

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The situation is creating sleepless nights for investors, such as Dena Webster of Wellington, who hasn't been able to sell any of the 14 houses that she purchased at the peak of the boom. Eleven are in Olympia, a Wellington development where houses routinely carry price tags of more than a million dollars, but where rents are in the $1,800 to $3,000 range.

"I'm upside-down on every one of them," Webster said of her properties. To help make her monthly mortgage payments, which total $50,000, Webster has renters in four of her houses and is advertising for tenants for two more. Still, she's taking large losses every month.

"I'm not sleeping," she sighed.

She bought 14 properties? I wish I could start again, forget going to university and just leveraged myself to the hilt and bought as many properties as possible. If it goes well, I'd be a millionaire, otherwise go bust and start from scratch. I could go to uni and ride out 3-4 years of bankruptcy. It's almost a one way bet.

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She bought 14 properties? I wish I could start again, forget going to university and just leveraged myself to the hilt and bought as many properties as possible. If it goes well, I'd be a millionaire, otherwise go bust and start from scratch. I could go to uni and ride out 3-4 years of bankruptcy. It's almost a one way bet.

Yeah, well, I wish I had this weeks lottery numbers - no difference...

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heh heh. i know TTRTR's been sniffing around the forum today.

Funny how he keeps "missing" this thread. A case of hear no evil, speak no evil maybe? :)

I'm calling you out cowboy.

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Im waiting for this guy to make a donation to the thread...........

texasspeakandmaths0kc.jpg

Yes, it is our very own WAP 'in the flesh', he will show us how this is a better idea than renting as you get everybodys 'dead money'........

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Maybe they didn't understand your economic theories Jabba! :)

Time to Reduce the Rates

heh heh. i know TTRTR's been sniffing around the forum today.

Funny how he keeps "missing" this thread. A case of hear no evil, speak no evil maybe? :)

I'm calling you out cowboy.

How this Miami story relates to me or what you think my theories are is a mystery to me.

I suspect that instead you've decided I can be the focus of your anger at your place in the world.

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seems to feel like you have lost your fight back. your backbone. the dandy and charm of a once confident young property thing.

now serious. sullen and to the point.

i sense not so great overall news ttrtt ???

that thread of a millionaires dream you deluded yourself with has become apparent.

its a spectre.

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How this Miami story relates to me or what you think my theories are is a mystery to me.

I suspect that instead you've decided I can be the focus of your anger at your place in the world.

How are the sales of your houses going? Any offers yet?

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forget it. hes gone all slackjawed.

he recently bought a meal consisting of a fish and 62x chips encased in the confines of the reality press.

it said prices down. rates up.

he ate this with a plastic fork. which he later cleaned and saved.....

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forget it. hes gone all slackjawed.

he recently bought a meal consisting of a fish and 62x chips encased in the confines of the reality press.

it said prices down. rates up.

he ate this with a plastic fork. which he later cleaned and saved.....

Rumour has it he even ate the burnt chips and licked the grease off the paper. Waste not, want not. A hard rain's gonna be fallin' soon enough.

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now where have you been my blue eyed son.

and where have you been my darling young one.

ive been over hills and on 5 mistly mountains.

ive lived and ive tried and ive found new horizons.

but its a hard.

its a hard. and its a hard.

though its not hard.

but its a hard rain.

going to fall down.

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You guys are a little weird sometime, just because some stupid landlord has bought properties with bad returns does not mean TTRTR is in that situation at all. There are properties with horrendous returns and ones with good returns and a whole range inbetween. Your attacking TTRTR really does sometimes come over as sour grapes.

As far as I know TTRTR is in the room-renting business. As someone who is heading up to London to rent a room in a good location I can attest to the current prices being rather high (depending upon location) and while perhaps not getting you brilliant returns given the potential sale prices are certainly affordable propositions. These multi-occupancy places are still a good bet if you ask me, however this will change not so much due to interest rate changes but unemployment. With even a fractional increase of unemployment in London a lot of the kiwis, aussies and south africans that prop up the higher end room-renting business will go home. In fact, a devaluation of the pound against those respective exchange rates will have a similiar affect.

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Your attacking TTRTR really does sometimes come over as sour grapes.

you are missing the point. Which says rather a lot about you.

TTRTR came on this board and IMMEDIATELY started bragging how rich he was, how pathetic everyone else was for not 'seizing the chance to be a landlord' blah b;ah bl;ah

He deserves everything he gets on this bopard and off it.

And that will include either bankruptcy or spending 20 years subsidizing tenants while he desperate hopes his 'portfolio' can climb back into positive territory again.

Cue Ignorant jumped Up Kiwi with 'I'm only 60% geared'.

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you are missing the point. Which says rather a lot about you.

TTRTR came on this board and IMMEDIATELY started bragging how rich he was, how pathetic everyone else was for not 'seizing the chance to be a landlord' blah b;ah bl;ah

He deserves everything he gets on this bopard and off it.

And that will include either bankruptcy or spending 20 years subsidizing tenants while he desperate hopes his 'portfolio' can climb back into positive territory again.

Cue Ignorant jumped Up Kiwi with 'I'm only 60% geared'.

Don't you have to be over 16 to use this board ? Can we not cyberspace ASBO this chavvie ? Grow up laddie and cut out the bile !!!

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Yeah, well, I wish I had this weeks lottery numbers - no difference...

There is a big difference. It's like thousands of people had the lottery numbers and they all won big time.

Of course a lot of them could end up in tears like this Wellington lady but you can't deny that a helluva lot of people have made big money out of property. Yes, MADE big money, not just paper money that could disappear over night.

That is not to say there is still any money to be made by buying now. But with the benefit of hindsight, if we could put the clock back to the late 90s, let's face it most of us would mortgage ourselves to the hilt to buy as much as we could.

As has been said many times, it's all a question of timing. I know several people who have made a fortune in property - sometimes just through blind luck. (I don't know anyone who has won the lottery though).

This will not go down well on here, but my advice to my teenage son is to invest in property as soon as he is able, although I have also told him all about timing the market (I wouldn't advise him to buy now in this country - apart from anything else, he'd have to rob a bank first). How many billion people are there in the world at the moment? Still increasing at a frightening rate and everyone has to live somewhere. Maybe the increase in population is not so much in this country but that's another thing I'm teaching my son - look beyond the UK.

I just wanted to make the point that a lot of people, whether we like it or not, have made a killing out of property - that's why the herd started to stampede in the first place. It is sickening but it is a fact. Sorry to state the obvious but I get the impression some people on here are so focussed on the negatives of buying property that they forget this.

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you are missing the point. Which says rather a lot about you.

TTRTR came on this board and IMMEDIATELY started bragging how rich he was, how pathetic everyone else was for not 'seizing the chance to be a landlord' blah b;ah bl;ah

He deserves everything he gets on this bopard and off it.

And that will include either bankruptcy or spending 20 years subsidizing tenants while he desperate hopes his 'portfolio' can climb back into positive territory again.

Cue Ignorant jumped Up Kiwi with 'I'm only 60% geared'.impression some people on here are so focussed on the negatives of buying property that they forget this.

Two points:

1) Why do you engage in exactly the same behaviour that you criticise TTRTR for?

2) Your point only makes sense once TTRTR has done badly, until you know that to be the case you just sound like a petulant child.

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Don't you have to be over 16 to use this board ? Can we not cyberspace ASBO this chavvie ? Grow up laddie and cut out the bile !!!

Cue abusive rant from CIUW, including reference to "tubesteak sucking" or some such....... :rolleyes:

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How this Miami story relates to me or what you think my theories are is a mystery to me.

I suspect that instead you've decided I can be the focus of your anger at your place in the world.

Nah mate. Im not an angry guy. I stepped back from the sheeple's "houserush" (there's gold in them thar tenaments) a couple of years ago. Been quite happy ever since. Keen to get a place of my own of course, but not willing in the current market conditions. So, my emotional state aside...

The Miami story demonstrates how rent prices in the vicinity have in fact fallen, despite the economic conditons that you, on numerous occasions, have insisted demonstrate how your rents can only ever go up.

I will conceed that your boastful posts and tunnel vision are a bit irritating. Hence my efforts to make sure you didn't "miss" this interesting article yet again.

Admit it man...you type TTRTR into the search engine everytime you visit this site. Easier for you to ignore the article I guess.

Edited by geneer

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Guest Baffled_by_it_all

There's no denying that. But it's like every market. People made fortunes in the dotcom boom - but they were generally people who cashed out at the right time. The same goes for any boom. The smart ones ride the upswing and scarper.

If there are fortunes to be made in BTL now. It's probably by liquidating and moving on to something else. Either that or sit down for the long hard grind.

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Nah mate. Im not an angry guy. I stepped back from the sheeple's "houserush" (there's gold in them thar tenaments) a couple of years ago. Been quite happy ever since. Keen to get a place of my own of course, but not willing in the current market conditions. So, my emotional state aside...

The Miami story demonstrates how rent prices in the vicinity have in fact fallen, despite the economic conditons that you, on numerous occasions, have insisted demonstrate how your rents can only ever go up.

I will conceed that your boastful posts and tunnel vision are a bit irritating. Hence my efforts to make sure you didn't "miss" this interesting article yet again.

Admit it man...you type TTRTR into the search engine everytime you visit this site. Easier for you to ignore the article I guess.

Gee I can't remember having ever said that about Miami. And having lived in south Florida for a year myself, I wouldn't put it in the same class as cities like London.

You just discredit yourself trying to put words in my mouth IMO.

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Don't you have to be over 16 to use this board ? Can we not cyberspace ASBO this chavvie ? Grow up laddie and cut out the bile !!!

while you are out there arranging for the next in your series of 'pre-op transvestite surgical transformations' why don't you see if they will throw in a free sense of humour too?

Oh - I forgot. You are an estate agent - no need for a sense of humor. (Actually, no space for one in your tiny little Sinclair 8 Bit Spectrum-sized mind).

'Laddie'

(Lady?)

Hows that. 'Smell The Glove'? Happy now :-) :-)

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Gee I can't remember having ever said that about Miami. And having lived in south Florida for a year myself, I wouldn't put it in the same class as cities like London.

You just discredit yourself trying to put words in my mouth IMO.

LoL :D . Gee...I don't remember you qualifying any of your earlier "analysis" with the statement that they applied only to cockneys. Your evading the issue champ, and not very subtly at that.

So cutting to the heart of your argument: your saying that economic laws and the market operate differently in the states than in london. Pull the other one...

Try this on for size (thanks to blog)

""South Florida," he said, "is working off of a totally new economic model than any of us have ever experienced in the past." Explaining how limited supply and unlimited demand would create a situation in which prices rose forever".

Now where have I heard that before. And what happened :- Cerrrraaaaaaashhhhhhhhh

"it looks as though this economic model was not so different after all"

I think you should take another shifty at your "fundamentals".

Edited by geneer

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LoL :D . Gee...I don't remember you qualifying any of your earlier "analysis" with the statement that they applied only to cockneys. Your evading the issue champ, and not very subtly at that.

So cutting to the heart of your argument: your saying that economic laws and the market operate differently in the states than in london. Pull the other one...

Try this on for size (thanks to blog)

""South Florida," he said, "is working off of a totally new economic model than any of us have ever experienced in the past." Explaining how limited supply and unlimited demand would create a situation in which prices rose forever".

Now where have I heard that before. And what happened :- Cerrrraaaaaaashhhhhhhhh

"it looks as though this economic model was not so different after all"

I think you should take another shifty at your "fundamentals".

Listen, here's a free lesson for you. No two properties are exactly the same, every single property in the world is unique, they belong to unique groups, in unique locations and form unique markets.

South Florida is mainly a holiday destination in America, subject to American politics and American interest rates. Holiday destinations can be particularly prone to the impact from new build booms & busts as they're the first economies to go when people start watching the pennies. South Florida has a particular history of this, which I'm sure you didn't know.

London is a world class city, it occupies a unique position straddling a large number of business day time-zones and is dedicated to worldwide business interests. It is almost the world's headquarters when you consider the vast number of companies with offices in London. It is subject to UK politics, UK interest rates and completely different dynamics to South Florida. IMO there is very little correlation between the two locations.

I hope I have explained this fairly clearly, because TBH I can't be bothered to explain it in greater detail that this. But if you have a desire to say anything of meaning to be, please do me a favour & approach me with something with a little more substance that this.

Edited by Time to raise the rents.

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  • 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%



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