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chichi

Btl Exit Strategy

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OK I'm watching homes under the hammer and the geezer has just given his 3 minute guide to making money in property and mentions an exit strategy.

Do BTL have one?

How do people think the properties will be their pension?

Do they assume that they'll always be able to rent them out and rents will always cover costs?

He has said property is a medium to long term investment - so what age should people be who're looking to make money from property?

(They had a 22 year old who wants to buy a house every year until he's 40 and then sell one every year until he's 60)

What is the ideal exit strategy?

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Guest vicmac64
OK I'm watching homes under the hammer and the geezer has just given his 3 minute guide to making money in property and mentions an exit strategy.

Do BTL have one?

How do people think the properties will be their pension?

Do they assume that they'll always be able to rent them out and rents will always cover costs?

He has said property is a medium to long term investment - so what age should people be who're looking to make money from property?

(They had a 22 year old who wants to buy a house every year until he's 40 and then sell one every year until he's 60)

What is the ideal exit strategy?

They haven't got one!! At least they haven't got one that involves not loosing a lot of money! So its either get out now a substantial loss - or get out later at a monumental loss - or keep the property until things get better in about 25 years time... If they can afford to wait that long!

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Ignorance of the business failure rate is a big factor in the lack of exit strategies imo.

People just don't realise that those with large debts & long lease liabilities are sitting ducks when the economic winds change.

A few years ago 2 out of 3 businesses failed in the first 3 years (it's probably worse now, unless debt/mew is used as a bail out for a business).

It seems an extension of the 'property doubles every 8 years' mantra I keep hearing from people . My reply is ususally 'what happened from 1989 to 1996 then' ?

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(They had a 22 year old who wants to buy a house every year until he's 40 and then sell one every year until he's 60)

They are as innocent as babes in arms! Ahh, look - life is SOOOO SWEET, all I have to do is buy a house every year for 20 years or so and then sell one every year for 20 years or so and all the nice people are all going to go into SOOOO MUCH DEBT for me, just so little old me never has to do A DAY'S WORK and can end up as a LOVELY, LUCKY MILLIONAIRE.

I'm not a violent man, often, but I'd like to give those @rseholes a good, old-fashioned 'reality kicking'.

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