Is Anyone Contemplating Buying? Dare I Mention.

[Confounded]

I hear you. But for yields to hit 10% would mean the average three bed house around here would be £75K. I don't see it happening unless IR hit 8%.

Have you considered rents might fall as well? Now that is a scary thought for the BTL'ers!

Could never happen though because there are so few rental properties due to a lack of BTL'ers and accidental landlords who can't sell atm.

[Harry Sacks]

If people like you made effiecient use of their capital, it would happen everywhere.

Now stop being a plank and go and find a decent return.

You can get 7%+ gross with no risk, 10% with some and even higher for longer term no doubt.

I'd like some links please.

What you're overlooking, if I buy a place and the rent exceeds the mortgage by £200pcm I have a margin of safety with the added bonus that the tenant is paying the mortgage. There are people in the village that have rented for generations and are content to. So I don't have any moral dilemma. I'll add that me and my family live in a "house" cobbled together from recycled materials over the past fifteen years, on our own land, granted. I've only recently fitted hot water. It's been very tough at times but not as tough as life for half the world. It's all about your sense of entitlement I guess.

Have you considered rents might fall as well? Now that is a scary thought for the BTL'ers!

Could never happen though because there are so few rental properties due to a lack of BTL'ers and accidental landlords who can't sell atm.

Yeah, but if it never rented I could easily manage the mortgage.

[kingsgate]

Thank goodness for that comment....terse and straightforward.

DOM: The part purpose of this website is to enlighten people into being educated about property NOT being a constant opportunity to make a "yield" or a fast buck. Frankly, posts like yours are totally nauseating. Housing is not there for you to descend, vulture like, when you feel the time is right to make a gain. The WHOLE reason for the ludicrous inflation of property and the knock on effects to the economy are precipitated exactly by the attitude of you and all the accumulated spivs who just cannot get their heads around a SIMPLE concept: House are for LIVING in or, at most, making a small profit as an addition to WORKING FOR A LIVING. I assume you do work for a living? If so, just stick to it, and stop seeing property as an "opportunity".

Sheesh!

VP

Its not a constant opportunity. But if you have the mindset not to want to work your a**e off for some other f***er all you life, EVERYTHING is an opportunity at the right time and in the right circs.

There is nothing morally superior about working for someone else all the time. Why do people think like this, its a bad meme?

Looking after the places we own, especially doing student lets, is a job in itself, but there are those on here who, if I told them how much running around, general DIY, cleaning and other grotty jobs I have to do, would have sympathy provided I was doing that work as someone else's dogsbody, because that would somehow make me morally better than doing it for myself.

If I work in a factory, that's working for a living.

If I work "for myself", say, as a plumber, that's still working for a living, even if I get more of the proceeds and have more control.

If I own some houses, and run around doing the showings, moving in and out, cleaning, fixing up stuff, buying and assembling the furniture etc, that's still working for a living, I just get more control over what I get than someone paid a wage. Still work, though.

There is nothing morally better in plodding along for someone else, although it is easier because you have little responsibility.

The problem with work is that there is only one of you and only so many hours you can reasonably work.

Unless you skill means you can charge a madly high hourly rate, this condemns you to never getting very far money wise.

Doing anything for yourself and possibly employing others acts a "force multiplier" allowing you to increase your earnings way beyond your basic "hourly rate", at the cost of accepting greater risks and responsibilities onto yourself.

[Guest X-QUORK]

My IFA said prices would rise again for houses due to lack of new housing being built. He said flats were a different story and to steer clear of them. He has over 30 years experience as an advisor.

I believe him more than the average punter on here.

In that case, why are you wasting your time here? Get out there and snap up some bargains.