thefinalbear Posted January 7, 2008 Share Posted January 7, 2008 Check out the landlord forum...........many, many sad tales. http://www.landlord-forum.co.uk/forum/forum_topics.asp?FID=1 Quote Link to comment Share on other sites More sharing options...
Carrington Posted January 7, 2008 Share Posted January 7, 2008 Ok everyone, all together now...... a 100% rise only needs a 50% drop to be wiped out......Getting boring now, isn't it. Sorry meant 50pct!!!! Quote Link to comment Share on other sites More sharing options...
Lone_Twin Posted January 7, 2008 Share Posted January 7, 2008 I, like most others who bought around 5 years ago made at least 100pct profit, some of it has been realised,Mewed up the wall some of it has been reinvested Sunk into the same asset class at a higher entry point and some is still on paper, dosn't exist but unless you think property prices are going to drop 100pct then it is still a capital gain is it not? awwwwwwww ma, I don't been dun like going teh skool. . ST Quote Link to comment Share on other sites More sharing options...
symo Posted January 7, 2008 Share Posted January 7, 2008 hi - could you provide info? I know the block(s), was the site of an old grain silo. V interested in actual sales there!BTW: This from Assetz too: http://investors.assetz.co.uk/blog/?mid=16570 6th Jan blog.. "homebuyer mortgages are more expensive than buy to let mortgages now," words fail me... Sorry no data as such just my impression going past the place at 7pm before Christmas a time when London is full to the brim with people 'doing' social events. Apart from the penthouses only a few lights were on within the building. Generally this place would be like Norman Foster development near Battersea bridge this time of year, with virtually every light burning brightly. Also didn't look to be too much activity on site in the week either. Quote Link to comment Share on other sites More sharing options...
Carrington Posted January 7, 2008 Share Posted January 7, 2008 awwwwwwww ma, I don't been dun like going teh skool.. ST Dont get too sarcastic st, i am just as much of a bear as you (no pun intended), but there are always 2 sides to every story. Quote Link to comment Share on other sites More sharing options...
I want a house! Posted January 7, 2008 Share Posted January 7, 2008 Check out the landlord forum...........many, many sad tales.http://www.landlord-forum.co.uk/forum/forum_topics.asp?FID=1 Loving the tone of your post Quote Link to comment Share on other sites More sharing options...
Lone_Twin Posted January 7, 2008 Share Posted January 7, 2008 Sorry no data as such just my impression going past the place at 7pm before Christmas a time when London is full to the brim with people 'doing' social events. Apart from the penthouses only a few lights were on within the building. Generally this place would be like Norman Foster development near Battersea bridge this time of year, with virtually every light burning brightly. Also didn't look to be too much activity on site in the week either. My impression of London at Xmas is that it's a ghost town. I don't have a single friend who spends Christmas here and only 50% come back for NYE. . Maybe you are a native of the place and see a different side to it? . ST P.S- Sorry Carrington I couldnt resist, I really do take issue with your insistance that this wasnt a scam though. Some people have made money but only on the back of selling (usually younger) people into further debt. There is no such thing as a free lunch, the winners might not pay for it but someone will. Quote Link to comment Share on other sites More sharing options...
Methinkshe Posted January 7, 2008 Share Posted January 7, 2008 Dont get too sarcastic st, i am just as much of a bear as you (no pun intended), but there are always 2 sides to every story. Yeah, the shoe-shine boy's and the old hand. Which are you? Quote Link to comment Share on other sites More sharing options...
numpty Posted January 7, 2008 Share Posted January 7, 2008 I have no doubt that rental yields will rise! they could rise by 20% But as we know rental yield is rent/value X 100 and if value falls then rent yield rises! and it is proably true that rents may rise a little as less are interested in buying Always look on the bright side! Quote Link to comment Share on other sites More sharing options...
Methinkshe Posted January 7, 2008 Share Posted January 7, 2008 I have no doubt that rental yields will rise! they could rise by 20%But as we know rental yield is rent/value X 100 and if value falls then rent yield rises! and it is proably true that rents may rise a little as less are interested in buying Always look on the bright side! .....fewer are interested in buying. Sorry, got my pedant hat on today. I'm irked by sloppy thinking, and sloppy use of language is an expression of sloppy thinking. Quote Link to comment Share on other sites More sharing options...
Guest DissipatedYouthIsValuable Posted January 7, 2008 Share Posted January 7, 2008 (edited) Disagree, a scam is where people generally lose money, a lot of money in the form of capital gains has been made over the past 5 years ago on btl - fact.regards Carrington The poor tossers left holding the babies have probably lost money? Edited January 7, 2008 by DissipatedYouthIsValuable Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 7, 2008 Share Posted January 7, 2008 Loving the tone of your post Im still a new landlord and own 3 rental props. We have just remortgaged one of our props and released 20k equity just for cash flow purposes. I would love to own/buy more props but the stress of being a landlord takes it toll. Rising interst rates/lower profit margins/voids/hidden costs/poor tenants etc make you work dammed hard to just cover costs With poor expectations for house prices/sales in next fem years how do you cope with the worry and heartache of being a prop investor. I do use letting agents to manage the props for me but reading the property books makes it seem so easy. am i alone in feeling like this or am i just in a rut? NO its not me- straight off the first page of Lanlord forum Quote Link to comment Share on other sites More sharing options...
Methinkshe Posted January 7, 2008 Share Posted January 7, 2008 Im still a new landlord and own 3 rental props. We have just remortgaged one of our props and released 20k equity just for cash flow purposes. I would love to own/buy more props but the stress of being a landlord takes it toll. Rising interst rates/lower profit margins/voids/hidden costs/poor tenants etc make you work dammed hard to just cover costs With poor expectations for house prices/sales in next fem years how do you cope with the worry and heartache of being a prop investor. I do use letting agents to manage the props for me but reading the property books makes it seem so easy. am i alone in feeling like this or am i just in a rut? NO its not me- straight off the first page of Lanlord forum Shoot! Don't do that to me, Bloo Loo! I was just about to do a triple U-turn and go off you big-time! Have mercy on my heart before you post shockers like that again! Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 7, 2008 Share Posted January 7, 2008 Shoot! Don't do that to me, Bloo Loo! I was just about to do a triple U-turn and go off you big-time! Have mercy on my heart before you post shockers like that again! Sorry, but the post from that website MUST reflect the real position of many BTLs these days- Hes MEWED just to stay afloat. Thats three more places for sale in next 3 months Id wager. Quote Link to comment Share on other sites More sharing options...
Methinkshe Posted January 7, 2008 Share Posted January 7, 2008 Sorry, but the post from that website MUST reflect the real position of many BTLs these days- Hes MEWED just to stay afloat.Thats three more places for sale in next 3 months Id wager. Absolutely! Poor sod's probably paid five grand to attend a GRQ BTL seminar and is now dirtying his Calvin Kleins. Quote Link to comment Share on other sites More sharing options...
Carrington Posted January 7, 2008 Share Posted January 7, 2008 My impression of London at Xmas is that it's a ghost town.I don't have a single friend who spends Christmas here and only 50% come back for NYE. . Maybe you are a native of the place and see a different side to it? . ST P.S- Sorry Carrington I couldnt resist, I really do take issue with your insistance that this wasnt a scam though. Some people have made money but only on the back of selling (usually younger) people into further debt. There is no such thing as a free lunch, the winners might not pay for it but someone will. I dont see it as a scam st, its a market just like the stock market, there will always be winners and there will always be losers. I do agree with you though that younger people will go into debt, just like they did in 1990, unfortunately with a lot of younger people who are now buying, they have never seen a hpc before and think that house prices only ever go up,.......but of course, they don't do they Quote Link to comment Share on other sites More sharing options...
Methinkshe Posted January 7, 2008 Share Posted January 7, 2008 (edited) I dont see it as a scam st, its a market just like the stock market, there will always be winners and there will always be losers. I do agree with you though that younger people will go into debt, just like they did in 1990, unfortunately with a lot of younger people who are now buying, they have never seen a hpc before and think that house prices only ever go up,.......but of course, they don't do they So what's your personal exposure to BTL? From what you have already said I gather that you have several BTL properties and are nursing a capital gain. On paper or in cash? Have you extracted your gains or are they about to be flushed down the HPC toilet? Edited for typos. Edited January 7, 2008 by Methinkshe Quote Link to comment Share on other sites More sharing options...
Carrington Posted January 7, 2008 Share Posted January 7, 2008 Yeah, the shoe-shine boy's and the old hand. Which are you? Shoe shine boy's - sounds too bullish for me, gues that makes me the old hand best regards Carrington Quote Link to comment Share on other sites More sharing options...
Methinkshe Posted January 7, 2008 Share Posted January 7, 2008 Shoe shine boy's - sounds too bullish for me, gues that makes me the old handbest regards Carrington You didn't answer my question: what's your exposure to BTL? If you were an old hand, the answer would be "NIL" because you would have exited months ago with a fat wad in your hand and left the shoe-shine boys to carry the can. I think you are a closet shoe-shine boy who can't bear to admit that he's been caught with his trousers round his ankles. If you are an old hand, just give us a glimpse of your REALISED profit from BTL. Quote Link to comment Share on other sites More sharing options...
Carrington Posted January 7, 2008 Share Posted January 7, 2008 So what's your personal exposure to BTL? From what you have already said I gather that you have several BTL properties and are nursing a capital gain. On paper or in cash? Have you extracted your gains or are they about to be flushed down the HPC toilet?Edited for typos. I have some exposure to btl, but I released a small amount of gains some time ago, and will be releasing some more in around 6 months time when base rates will probably be near to 4.5pct which makes money relatively cheap to borrow, I will then be sitting on cash and will be looking to purchase again in about 18 months time when, in my opinion that is, houseprices will be around 20pct lower and rental yields will stack up better than they do now. best regards Carrington Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted January 7, 2008 Share Posted January 7, 2008 I have some exposure to btl, but I released a small amount of gains some time ago, and will be releasing some more in around 6 months time when base rates will probably be near to 4.5pct which makes money relatively cheap to borrow, I will then be sitting on cash and will be looking to purchase again in about 18 months time when, in my opinion that is, houseprices will be around 20pct lower and rental yields will stack up better than they do now.best regards Carrington you use the word release: I guess you want to MEW. Quote Link to comment Share on other sites More sharing options...
Carrington Posted January 7, 2008 Share Posted January 7, 2008 you use the word release: I guess you want to MEW. Thats correct bl, I tend to use the word release or remortgage (can't stop using broker terms I'm affraid!) - I will use MEW in future to avoid confusion. best regards Carrington Quote Link to comment Share on other sites More sharing options...
Carrington Posted January 7, 2008 Share Posted January 7, 2008 You didn't answer my question: what's your exposure to BTL?If you were an old hand, the answer would be "NIL" because you would have exited months ago with a fat wad in your hand and left the shoe-shine boys to carry the can. I think you are a closet shoe-shine boy who can't bear to admit that he's been caught with his trousers round his ankles. If you are an old hand, just give us a glimpse of your REALISED profit from BTL. LOL - It depends on your long term view of housing - I take the view that short term I want limited exposure but long term greater exposure, for example if you had bought a 2 bed flat where I lived in 1987 you would have paid £54,000 for it, in 1989 it was worth £75,000, in 1991 it was worth £49,000 and it is now worth £160,000, so sometimes you have to take a long term view, as long as you can afford to ride out the storms that is. If you look through the history of house prices rises you will see quite a few peaks and troughs but the overall trend is up. best regards Carrington Quote Link to comment Share on other sites More sharing options...
Methinkshe Posted January 7, 2008 Share Posted January 7, 2008 LOL - It depends on your long term view of housing - I take the view that short term I want limited exposure but long term greater exposure, for example if you had bought a 2 bed flat where I lived in 1987 you would have paid £54,000 for it, in 1989 it was worth £75,000, in 1991 it was worth £49,000 and it is now worth £160,000, so sometimes you have to take a long term view, as long as you can afford to ride out the storms that is. If you look through the history of house prices rises you will see quite a few peaks and troughs but the overall trend is up.best regards Carrington Absolutely! But one could have withdrawn equity from one's first property and used it to finance a deposit on the next property and so on and so on and ended up with an apparently magnificent portfolio of 100 + properties worth millions on paper until one admits that all the properties are mortgaged 95% plus and it would only take a 5% fall to wipe out ALL capital gains and render one's net worth as Jack S**t. And that's assuming that you can still afford to pay the mortgage on your Jack S**t portfolio. Otherwise you're facing bankruptcy and the liklihood of losing everything INCLUDING your family home. Where does a long term view fit into that kind of scenario? Quote Link to comment Share on other sites More sharing options...
Carrington Posted January 7, 2008 Share Posted January 7, 2008 Absolutely! But one could have withdrawn equity from one's first property and used it to finance a deposit on the next property and so on and so on and ended up with an apparently magnificent portfolio of 100 + properties worth millions on paper until one admits that all the properties are mortgaged 95% plus and it would only take a 5% fall to wipe out ALL capital gains and render one's net worth as Jack S**t. And that's assuming that you can still afford to pay the mortgage on your Jack S**t portfolio. Otherwise you're facing bankruptcy and the liklihood of losing everything INCLUDING your family home. Where does a long term view fit into that kind of scenario? You can't remortgage on a btl property to 95pct,- its 90pct max (and that is fast disappearing), - anyone who has done that is a fool and overexposed, but like I already said I have little exposure at present and I will choose the right time to become more exposed, which isnt now Quote Link to comment Share on other sites More sharing options...
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