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These Btl Muppets Are Delaying The Crash

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this posted on singing pig by "Yocheved"

Hi all,

Do you think I can be successful in this game??

I have a tremendous desire to get onto the property ladder by buying just one property. I am married (woman) with 3 kids age 1,2 and 3, I live in rented accommodation and have personal debts of aprox. £4000. My husband earns £20000 a year as a teacher which is what we live on. I am self-employed, and can work as much/little as I want, depending on my mood! I don't drive, so find it quite difficult to go gallivanting round the UK looking at properties! I am very knowledgeable in my area (which is London) so I know instantly if I have a bargain or not, however London is quite above my budget at the moment!

Ideally, I would love to buy a (small) property, value approx 50k - 80k. Location - anywhere (NE, Scotland, etc) however should be good rental location. VERY ideally, it should be somewhat bmv, so I can remortgage and get a no-money down deal. Yield should be high-ish, so that it coveres mortgage plus a bit extra (or even if it just covers the mortgage.) The reason why I want something under 100k is because I know that I can cover the mortgage (through earnings from my work) even if I have voids. What concerns me least at the moment is Capital Growth because I am buying this for long-term investment.

How I plan to raise the deposit? If I can't get a no-money down deal, then I plan to borrow. Before you all yell at me: I find it very difficult to Save money - there is always something coming up for the money to go on! However If I have a debt hanging on my head, I have the impetus to pay it back, therefore I'll work extra-hard and make do with less! BTW my personal debt was £8000 in Jan 06 and now it's 1/2, and according to my reckoning I should be debt-free in September 06.

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this posted on singing pig by "Yocheved"

Hi all,

Do you think I can be successful in this game??

I have a tremendous desire to get onto the property ladder by buying just one property. I am married (woman) with 3 kids age 1,2 and 3, I live in rented accommodation and have personal debts of aprox. £4000. My husband earns £20000 a year as a teacher which is what we live on. I am self-employed, and can work as much/little as I want, depending on my mood! I don't drive, so find it quite difficult to go gallivanting round the UK looking at properties! I am very knowledgeable in my area (which is London) so I know instantly if I have a bargain or not, however London is quite above my budget at the moment!

Ideally, I would love to buy a (small) property, value approx 50k - 80k. Location - anywhere (NE, Scotland, etc) however should be good rental location. VERY ideally, it should be somewhat bmv, so I can remortgage

and get a no-money down deal. Yield should be high-ish, so that it coveres mortgage plus a bit extra (or even if it just covers the mortgage.) The reason why I want something under 100k is because I know that I can cover the mortgage (through earnings from my work) even if I have voids. What concerns me least at the moment is Capital Growth because I am buying this for long-term investment. How I plan to raise the deposit? If I can't get a no-money down deal, then I plan to borrow. Before you all yell at me: I find it very difficult to Save money - there is always something coming up for the money to go on! However If I have a debt hanging on my head, I have the impetus to pay it back, therefore I'll work extra-hard and make do with less! BTW my personal debt was £8000 in Jan 06 and now it's 1/2, and according to my reckoning I should be debt-free in September 06.

I think there are many like her - small investors looking for capital growth over the long term. Reasons are probably 2 fold:

1. Property shows on TV providing role models for people like this.

2. Pension saving seen as more risky than property.

Remove the 2 factors above and people will stop investing in small time BTL's. In the meantime, can't say I blame her - she's hardly aspiring to be the next Rachman is she?.

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Can't blame someone for wanting to try new ways of securing their future. Just feel a bit sad that people who are obviously enthusiastic (whether they're motivated by greed/whatever) etc are going to be up against the wall very soon.

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Can't blame someone for wanting to try new ways of securing their future. Just feel a bit sad that people who are obviously enthusiastic (whether they're motivated by greed/whatever) etc are going to be up against the wall very soon.

We need people to be "up against the wall" - these will be forced sellers, and will have to sell at a lower price or be repossessed. These are the people who will help the crash along!

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The rise of the BTL is because of recent pension scandals and real inflation eating into what people earn - their money is going nowhere and they want to secure their futures with what they have got

Unfortunalty, the majority of BTL are probably only looking at VI media for information before commiting themselves

It the biggest pyramid scheme ever devised and the VI are laughing at them (like people who buy football strips)

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this posted on singing pig by "Yocheved"

Hi all,

Do you think I can be successful in this game??

I have a tremendous desire to get onto the property ladder by buying just one property. I am married (woman) with 3 kids age 1,2 and 3, I live in rented accommodation and have personal debts of aprox. £4000. My husband earns £20000 a year as a teacher which is what we live on. I am self-employed, and can work as much/little as I want, depending on my mood! I don't drive, so find it quite difficult to go gallivanting round the UK looking at properties! I am very knowledgeable in my area (which is London) so I know instantly if I have a bargain or not, however London is quite above my budget at the moment!

Ideally, I would love to buy a (small) property, value approx 50k - 80k. Location - anywhere (NE, Scotland, etc) however should be good rental location. VERY ideally, it should be somewhat bmv, so I can remortgage and get a no-money down deal. Yield should be high-ish, so that it coveres mortgage plus a bit extra (or even if it just covers the mortgage.) The reason why I want something under 100k is because I know that I can cover the mortgage (through earnings from my work) even if I have voids. What concerns me least at the moment is Capital Growth because I am buying this for long-term investment.

How I plan to raise the deposit? If I can't get a no-money down deal, then I plan to borrow. Before you all yell at me: I find it very difficult to Save money - there is always something coming up for the money to go on! However If I have a debt hanging on my head, I have the impetus to pay it back, therefore I'll work extra-hard and make do with less! BTW my personal debt was £8000 in Jan 06 and now it's 1/2, and according to my reckoning I should be debt-free in September 06.

She is apparently "very knowlegeable in my area..London". Big place that London!

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Guest Guy_Montag

this posted on singing pig by "Yocheved"

Post a link. I want to watch this one, it's like car crash tv. :)

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heres another clueless muppet from the same "new investor" forum

http://www.singingpig.co.uk/forums/thread/118635.aspx

"I have just bought my 1st house with my girlfriend. We paid around 100k for it because it needs some work doing on it, eg a new bathroom, kitchen as well as painting and decorating.

We think that it will go for around 125-130k when it is finished.

Obviously we want to save money where we can like doing the decorating/tiling ourselves.

But it would be great it we could save money by fitting things ourselves such as the bathroom/kitchen. How difficult is it to learn to do this?

Does anyone know of any information on the net showing you how to do this?

Thanks."

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heres another clueless muppet from the same "new investor" forum

Wonder why you labelled the guy a clueless muppet. Its a perfectly reasonable question!!

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They will knock the value down not add to it!!! :lol:

heres another clueless muppet from the same "new investor" forum

http://www.singingpig.co.uk/forums/thread/118635.aspx

"I have just bought my 1st house with my girlfriend. We paid around 100k for it because it needs some work doing on it, eg a new bathroom, kitchen as well as painting and decorating.

We think that it will go for around 125-130k when it is finished.

Obviously we want to save money where we can like doing the decorating/tiling ourselves.

But it would be great it we could save money by fitting things ourselves such as the bathroom/kitchen. How difficult is it to learn to do this?

Does anyone know of any information on the net showing you how to do this?

Thanks."

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heres another clueless muppet from the same "new investor" forum

http://www.singingpig.co.uk/forums/thread/118635.aspx

"I have just bought my 1st house with my girlfriend. We paid around 100k for it because it needs some work doing on it, eg a new bathroom, kitchen as well as painting and decorating.

We think that it will go for around 125-130k when it is finished.

Obviously we want to save money where we can like doing the decorating/tiling ourselves.

But it would be great it we could save money by fitting things ourselves such as the bathroom/kitchen. How difficult is it to learn to do this?

Does anyone know of any information on the net showing you how to do this?

Thanks."

Fiar play to them. They will make mistakes but it feels good to do the work yourself. And it saves a fortune.

Their willingness to get their hands dirty may be the sole reason that they could afford to buy a house.

I can't see any reason to criticise them unless you are too proud/lazy/inept to do manual work yourself.

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The problem with BtL, is that it has screwed the market, the system works for all as long as there are FTB coming through, they move up the ladder and so we all live happily ever after, but now many FTB properties are being snapped up by wannabe landlords who have been sold a pig in a poke, sooner or later many are going to lose it all, and may be even their own homes, can't say I feel that sorry for them, when you invest you asses the risks

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Tired of online gaming?

Need something 'new' to get back the buzz?

Then look no further than

http://www.kitchendraw.com/

Hours of hi octane fun with your PC....

(Before you ask where I got this link, someone at work actually asked me to h*ck this software for them.... :lol: )

Do you know what software is used in the likes of property ladder when they do the cross section of a house, and walkthough?

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Do you know what software is used in the likes of property ladder when they do the cross section of a house, and walkthough?

I don't watch property ladder I'm afraid.

However, the guys in our Mechanical DO have started using some new 3D SW which got demo'd to me recently.

I think it was called 'inventor'. Anyway, you get a full 3D representation of (in my case) a complicated electronics enclosure (cast and machined) containing switches, circuit boards etc. You can 'tour' around inside the box and the graphics are amazing. it makes it easy to spot problems with the design before going to production. you can do cutaways, transparencies and all sorts of other tricks.

Once we get the designs right we can use some really cool space model technology to make dummy prototypes of the boxes that hold my electronic designs. Basically you can use the output files from 3D drawing packages to create these prototypes. Here's an old quote of mine....

some CNC machines are REALLY impressive.

My company ocassionally uses a specialist firm that makes 1:1 space models of 3D mechanical designs. They use an amazing CNC process to achieve this.

The design could be anything from a cylinder head for a car engine to a complex enclosure for electronic equipment.

Basically you load the 3D design from the computer into the machine and it aims two ultra fine beams of light into a container of special liquid.

Where the beams cross, the liquid turns to solid. The CNC machine controls the direction of the two light beams and uses them to slowly 'grow' the 3D design inside the liquid from the ground up. It is possible to make intricate shapes that are impossible with casting and/or machining.

Once the CNC machine is finished, the liquid is drained off and a perfect 1:1 dummy model of the design is left in solid form. The resolution of the machine is amazing too, I would guess a few thou of an inch. You get a perfect replica of the enclosure inluding all internal detail and screw holes etc. The finished replica can either be in transparent (like an ice sculpture) or in pure white.

This technology (it is not cheap, mind) allows us to ensure my electronic designs really will fit into the box! (and the box fits the space allocated for it etc)

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We need people to be "up against the wall" - these will be forced sellers, and will have to sell at a lower price or be repossessed. These are the people who will help the crash along!

Sadly I think you're right.

At the end of the day the bubble will collapse when the last fool has jumped into the market, at that point there are no fools left to support the house of cards.

I think this lady must be the very last of the fools...

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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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