Run Forest Run, Run.

[LOL Rent down the drain]

I am selling my 2 bed house mid-terrace house just started last week monday. I have had around 10 to 15 viewing so far and the majority of the viewiers where buy-to-rent investors. Offer thank to God is on the table just 8k less than asking price. House in SE.

Guys these BTL people are out there to get you. Soon the propety maket will only be for those with properties and none for FTB's.

FTB find your neast hill top and run to it before BTL get there before you.

RUN Forest Runnnnnnnnnn.

[Giraffe Cat]

Todays price cut is tomorrows market value. Thank you for selling for less, you have helped us out considerably.

[LOL Rent down the drain]

Who said I accepted???!!! Offer only. I said yes to the buyer but the property will be on with another estate agent.

Will just wait another 1 or 2 weeks more and God's willing will have a higher offer.

Not taking my chances. Will have all buyers on my books and have them all do a " Race Contract".

But I know how FTB's feel. I think all BTL buyers should face prison sentance of about 6 months or house arrest.

My 2pence worth of comment is to advice you to beat the BTL first before they get the better of you.

[Lord Blackadder]

Your is assertion is so contradictory I don't know how to reply.

Either the BTL bozo's are mad or you've just knocked down your price by 10%.

I see you didn't quote your sale price and, I quote, "offer on the table thanks to God"

Either way you seem to be suggesting prices are falling.

Bring it on brother!

[LOL Rent down the drain]

This is just the start. you are looking for another year before real changes in prices and only GOD knows best.

I would rather never sell to BTL and reduce my price by 10% to FTB.

Now the problem is WHERE are the FTBs hiding. leting BTL take over the market and you have a monoploy of the housing market.

As one analyest said that the housing markt geowhatever is changing. where only people who are older and with properties are playing the fields.

[Yandros]

This is just the start. you are looking for another year before real changes in prices and only GOD knows best.

I would rather never sell to BTL and reduce my price by 10% to FTB.

Now the problem is WHERE are the FTBs hiding. leting BTL take over the market and you have a monoploy of the housing market.

As one analyest said that the housing markt geowhatever is changing. where only people who are older and with properties are playing the fields.

<{POST_SNAPBACK}>

FTBs are wisely hiding in their bunkers waiting for financial armageddon. The question is, if BTL is as widespread as it's sounding, what on earth is going to happen to the economy when this crazy bandwagon runs out of road? It could be *much* messier than the last time, with whole portfolios being dumped on the market, rather than single repossessions.

[200p]

Sadly - many FTBs are priced out of the market - they are not hiding anywhere.

The BTLs, renovators and speculators can always use their own home to raise the capital and increase buying power. :angry:

[Yonmon]

nice troll post there- a classic of its kind...

[Clueless]

have had around 10 to 15 viewing so far and the majority of the viewiers where buy-to-rent investors.

The fact that you use the word investor in the quote above is amusing. Investors usually invest to MAKE money not lose it. You must have an unusually high number of "Houses under the hammer fans living near you".

Firstly if you were a BTL investor (with any credibility) you wouldn't have bought any property since 2001 and secondly you wouldn't buy some scummy two bed terrace in some god forsaken place.

Good luck with attracting a Muppet to buy your run down hovel but please don't describe the people buying as investors as this would be against the sale of goods act.

[Dunks]

Yes, it's great that you see that God is there, trying to make you get loads of money. What was this bit about a rich man getting into heaven?

Oh, and don't feed the troll..... Oops

--

Dunks

[Guest tenant super]

This is just the start. you are looking for another year before real changes in prices and only GOD knows best.

I would rather never sell to BTL and reduce my price by 10% to FTB.

Now the problem is WHERE are the FTBs hiding. leting BTL take over the market and you have a monoploy of the housing market.

As one analyest said that the housing markt geowhatever is changing. where only people who are older and with properties are playing the fields.

<{POST_SNAPBACK}>

Ooh are you selling a house, post the details I'm really very interested, send us a link, go on let's have a look...

[right_freds_dead]

provided this btl can get the right amount of rental income from it.

not many btlrs are snapping up cheap homes in my area. they are mostly still empty even the 88k ones. though someone i knew bought a btl recently. i warned them not to. i wouldnt buy right now.

[paulm]

Rent down the drain > I would be interested to know what rental yield the BTL investors could make from your house.

What do you think your house could be let out for per month?

If you don't know, could you tell us (roughly) what area it is in, and how many bedrooms it has so we can make an estimate.

Also we would need to know your asking price so we can calculate the yield.

I'm interested to see if the BTL investor is buying it because they would make a monthly profit on the rent, or if they are speculating on further capital gains on the asset value.

[LOL Rent down the drain]

It is a 2 bed house. Open plan living room, Open plan Kitchen. front back garden.

Was for £160 got an offer of £152 allahmduallah (Thank God in arabic). Mind you needs alot of paint and decorationg done to it. New windows. and The place would look the business.

It is in Downham between Bromley and Grove Park.

I know how it feels with this country and prices and everything but I have no power to do anything to change things.

[Giraffe Cat]

Thank God!

[CrashIsUnderWay]

wow! what is that test comic thingy??? its brill!

(BTW LOL rent w*nker = KingOfTheCretins)

[dogbox]

I am selling my 2 bed house mid-terrace house just started last week monday. I have had around 10 to 15 viewing so far and the majority of the viewiers where buy-to-rent investors. Offer thank to God is on the table just 8k less than asking price. House in SE.

Guys these BTL people are out there to get you. Soon the propety maket will only be for those with properties and none for FTB's. 

FTB find your neast hill top and run to it before BTL get there before you. 

RUN Forest Runnnnnnnnnn.

Ive said for a while that its possible a return to mass renting is dawning as FTBs are less and less able to buy.

Ive had a second person express an interest in a flat I bought to let (the first buyer is still proceeding but Ive left on market as a precaution).

This latest potential buyer is also an investor. I met him at the property and got talking. He said he has money in a Pension & stocks and shares but he dislikes the rapid ups and downs and like all the scavengers taking thier slice. He went on to say he doesnt understand the shares so is uncomfortable. He expects property to have value drops but in the long run he feels he 'cant go wrong' and he likes the fact he can 'see' the asset.

You can un - pick and critiscise his logic but if enough people think like this more and more property will end up excluded from the market and rented long term.

He didnt even ask me how much the rent was!!!!!!

[Time to Emigrate]

It is a 2 bed house. Open plan living room, Open plan Kitchen. front back garden.

Was for £160 got an offer of £152 allahmduallah (Thank God in arabic). Mind you needs alot of paint and decorationg done to it. New windows. and The place would look the business.

It is in Downham between Bromley and Grove Park.

I know how it feels with this country and prices and everything but I have no power to do anything to change things.

<{POST_SNAPBACK}>

Gotta be either of these. I live a couple of miles from Downham - absolute sh1thole. Chav capital of the South East

http://www.findaproperty.co.uk/agent.aspx?...prop&pid=168026

http://www.findaproperty.co.uk/agent.aspx?...prop&pid=290032

[zzg113]

Like the username TTE. Couldn't agree more.

[Ignorant Steve]

Like the username TTE. Couldn't agree more.

<{POST_SNAPBACK}>

Stop wasting time on here. And get on with it.

[Kam]

Downham Lol

I myself live there as do many of my friends, very differnent from the nice areas we grew up in (Bickley, Beckenham). Its Full of Chavs. We were all forced to this area being priced out of our local patch.

I've been mugged by them, my friends had there Front window smashed when two chav girls decided to smash each others faces in on it (dbl glazed too!!!), they ride their Mini-Motos all hours on the pavements.

Makes you laugh when you have nice car parked on your drive and next door has a rusting 'C' reg escort thats not moved since you moved in, a fridge, pile of tyres and a loads of building rubble,

One of my Friends rents on Reigate Rd, rent is £600 - £650 in this area for a house like that,

So 152k is not going to have any yield really.

So do we think LOL RDTD is KOTC, that is funny if it is.

[Kam]

Forgot to add 152k is still way over

last of my friends to Buy in area paid 150K in spring 2004 which must have been peak

So I would think 138-142K would be more like it depends where in downham it is. Bromley end is ok, centre is bad (near whats known as the tavern pub, huge gatherings of chavs.)

Added 15:11pm

Gotta be either of these. I live a couple of miles from Downham - absolute sh1thole. Chav capital of the South East

http://www.findaproperty.co.uk/agent.aspx?...prop&pid=168026

http://www.findaproperty.co.uk/agent.aspx?...prop&pid=290032

Just looked at photos

Those places are DIRE, How can people ask that much money for such Sh1tHoles

Makes mine look like a palace, Both are different layout to mine, but still.

if one of those is the house then sorry it a pile of cr@p, overpriced and needs a lot of work. sell it to the Mug BTLer, He'll jump the roof once he realises it's a sh1t hole, but probably land on the matress dump in next doors garden.

BTW the house in Reigate Rd is the nicer but i have still seen friends buy same layout that not only had been totally gutted and re-modernised, but it was cheaper!!!!!!

[paulm]

So with an estimated rental income of 650 pm - that's 7800 a year.

Less 15% for fees and maintenance leaves 6630.

6630 / 152,000 = 4.4% yield

Assuming a BTL interest rate of around 6.5% would mean mortgage payments of about 700 quid a month. So they would end up subsidising the tenant to the tune of 150 quid a month...

Correct me if my estimates are wrong, but it doesn't make much financial sense to me :S

[Dunks]

Thank God!

<{POST_SNAPBACK}>

Oh my word. I'd completely forgotten about Red Meat (Beware, can be a bit nasty). Now I'm going to have to waste the next few hours reading all the ones I'd missed....

Dunks

[dogbox]

So with an estimated rental income of 650 pm - that's 7800 a year.

Less 15% for fees and maintenance leaves 6630.

6630 / 152,000 = 4.4% yield

Assuming a BTL interest rate of around 6.5% would mean mortgage payments of about 700 quid a month. So they would end up subsidising the tenant to the tune of 150 quid a month...

Correct me if my estimates are wrong, but it doesn't make much financial sense to me :S

[

1. B2L rates can be found around 5.5%

2. Many (esp first timers or sell to lets) LLs used residential mortgages or MEW to buy so the rates are nearer 4.9%.