CviewUK Posted December 10, 2008 Share Posted December 10, 2008 re advice to sell up and pay everything back - thats a bit of a no brainer and i would love to if it wasnt so hard at the minute and if all werent in neg equity... if you know anyone wanting 11 properties though around the leeds area all 5 - 6 bedders give me a bell ;-) ill even give you commision for the sale. Please send your <<<<hugs>>>> and advice on how to cut back on expenditure. http://forums.moneysavingexpert.com/showth....html?t=1340877 Quote Link to comment Share on other sites More sharing options...
Guest DissipatedYouthIsValuable Posted December 10, 2008 Share Posted December 10, 2008 Please send your <<<<hugs>>>> and advice on how to cut back on expenditure.http://forums.moneysavingexpert.com/showth....html?t=1340877 28 years old with 11 X 5-6 bed houses? Jesus. Quote Link to comment Share on other sites More sharing options...
Guest anorthosite Posted December 10, 2008 Share Posted December 10, 2008 Leeds Property "Millionaire" In Denial, And posting on MSE. Corrected. Its a minor one, but important, wouldn't you say Quote Link to comment Share on other sites More sharing options...
chichi Posted December 10, 2008 Share Posted December 10, 2008 Aww poor sod. Never mind the nice tax payers will make it all better. Quote Link to comment Share on other sites More sharing options...
Guest sillybear2 Posted December 10, 2008 Share Posted December 10, 2008 Millionaire Quote Link to comment Share on other sites More sharing options...
Allthatglitters Posted December 10, 2008 Share Posted December 10, 2008 I despair! :angry: Quote Link to comment Share on other sites More sharing options...
Guest anorthosite Posted December 10, 2008 Share Posted December 10, 2008 He's a sole trader as well. Nasty. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted December 10, 2008 Share Posted December 10, 2008 I rent the house for 1750 a month but the interest alone on the bridging finance is 4000. Maybe I'm not a born risk taker, but I think that would have be heading for the nearest high bridge! Quote Link to comment Share on other sites More sharing options...
Concrete Jungle Posted December 10, 2008 Share Posted December 10, 2008 Hmm 8 BtL loans with Bratfud n Bingley Quote Link to comment Share on other sites More sharing options...
chichi Posted December 10, 2008 Share Posted December 10, 2008 He's a sole trader as well. Nasty. *chuckles* Quote Link to comment Share on other sites More sharing options...
Soul Reaver Posted December 10, 2008 Share Posted December 10, 2008 28 years old with 11 X 5-6 bed houses?Jesus. Don't you find it amazing how you can have all that wealth and no money Quote Link to comment Share on other sites More sharing options...
crashpope Posted December 10, 2008 Share Posted December 10, 2008 "much you make is irrelevant as already posted by other users, the £2700 may seem like a lot but my car alone costs me in excess of £1k a month" His CAR? Good grief. He must be a troll. Quote Link to comment Share on other sites More sharing options...
tahoma Posted December 10, 2008 Share Posted December 10, 2008 I am always staggered by how appalling the design of the MSE site is. Until you scroll the entire page is a mish-mash of banners, links, tabs and crybaby Lewis (WAAAAH! IT'S NOT MY FAULT I TOLD THEM TO PUT THEIR MONEY IN ICELANDIC BANKS! WAAAAAH!) in the top left. All on a site that says 'free of ads'. At least ads are often attractive. Anyway, back to the OP topic. Anyone who does not know the difference between 'loose' and 'lose' deserves bankruptcy. Quote Link to comment Share on other sites More sharing options...
@contradevian Posted December 10, 2008 Share Posted December 10, 2008 I am always staggered by how appalling the design of the MSE site is. Until you scroll the entire page is a mish-mash of banners, links, tabs and crybaby Lewis (WAAAAH! IT'S NOT MY FAULT I TOLD THEM TO PUT THEIR MONEY IN ICELANDIC BANKS! WAAAAAH!) in the top left. Not his fault he earned a niche commish on it too! KERCHING! Quote Link to comment Share on other sites More sharing options...
Quagmire Posted December 10, 2008 Share Posted December 10, 2008 "dannyboyracer" is stupid ("Its my personal debt which is causing me the problems... £125k in all.." "loose" ) but how stupid were the lenders? Even a cursory glance over his debt obligations could have stopped this madness. Incredible. This guy was a walking timebomb. Quote Link to comment Share on other sites More sharing options...
Guest DissipatedYouthIsValuable Posted December 10, 2008 Share Posted December 10, 2008 Don't you find it amazing how you can have all that wealth and no money I seem to be stuck with this quaint notion that a bank balance without a negative sign in front of it is a good thing. Clearly I don't have the hang of debtalism. Quote Link to comment Share on other sites More sharing options...
sbn Posted December 10, 2008 Share Posted December 10, 2008 Another nasty little spiv getting what he deserves. Quote Link to comment Share on other sites More sharing options...
alexw Posted December 10, 2008 Share Posted December 10, 2008 What annoyed me was this post of his - Is everyone in this world just trying to make a buck out of those with little if no money?? I got refered to a company called Begbies Traynor in Liverpool and have submitted the paperwork to them. What do CCCS do differently, ive already talked to the CCCS who have organised a DMP last week but i put it on hold until i decided what i wanted to do. They never said IVA would be an option? yet earlier he posts - I am a casualty of overvaluation, i was buying houses at say 150k and turning them into 300k houses within 8 weeks with a project cost of around 20k each. they were only getting valued at 300k due to their rental yield as they are mostly 6 bedder properties rented to students at £300 a room p/c/m. Quote Link to comment Share on other sites More sharing options...
THE BALD MAN Posted December 10, 2008 Share Posted December 10, 2008 He's a sole trader as well. Nasty. Its a shame they no longer have debtors prisons. Quote Link to comment Share on other sites More sharing options...
pharm Posted December 10, 2008 Share Posted December 10, 2008 What annoyed me was this post of his -Is everyone in this world just trying to make a buck out of those with little if no money?? I got refered to a company called Begbies Traynor in Liverpool and have submitted the paperwork to them. What do CCCS do differently, ive already talked to the CCCS who have organised a DMP last week but i put it on hold until i decided what i wanted to do. They never said IVA would be an option? yet earlier he posts - I am a casualty of overvaluation, i was buying houses at say 150k and turning them into 300k houses within 8 weeks with a project cost of around 20k each. they were only getting valued at 300k due to their rental yield as they are mostly 6 bedder properties rented to students at £300 a room p/c/m. Love this quote: "Peachy pie, yes my assets when forgetting the current market condition do outweigh the debt." It's almost sweet how naïve some people are. Of course, if this guy hadn't taken out a bridging loan to buy a property he wouldn't be in the current position -- he took a big risk & now he's paying the price he doesn't like it very much. Quote Link to comment Share on other sites More sharing options...
Guest DissipatedYouthIsValuable Posted December 10, 2008 Share Posted December 10, 2008 Love this quote: "Peachy pie, yes my assets when forgetting the current market condition do outweigh the debt." It's almost sweet how naïve some people are. Of course, if this guy hadn't taken out a bridging loan to buy a property he wouldn't be in the current position -- he took a big risk & now he's paying the price he doesn't like it very much. My good looks, when forgetting my age, outweigh the gradual wear and tear. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted December 10, 2008 Share Posted December 10, 2008 Love this quote: "Peachy pie, yes my assets when forgetting the current market condition do outweigh the debt." It's almost sweet how naïve some people are. Of course, if this guy hadn't taken out a bridging loan to buy a property he wouldn't be in the current position -- he took a big risk & now he's paying the price he doesn't like it very much. This is reasonable. He was an ex bank manager after all, and he would have learned the difference between mark to model and mark to market. Quote Link to comment Share on other sites More sharing options...
Guest DissipatedYouthIsValuable Posted December 10, 2008 Share Posted December 10, 2008 (edited) This is reasonable.He was an ex bank manager after all, and he would have learned the difference between mark to model and mark to market. That's the terrible thing about life in general, we all try to mark to model, but we all end up being marked to market. Bloody entropy. Edited December 10, 2008 by DissipatedYouthIsValuable Quote Link to comment Share on other sites More sharing options...
TheLaw Posted December 10, 2008 Share Posted December 10, 2008 Anyway, back to the OP topic. Anyone who does not know the difference between 'loose' and 'lose' deserves bankruptcy. Exactly what I thought when I read this! Quote Link to comment Share on other sites More sharing options...
swissy_fit Posted December 10, 2008 Share Posted December 10, 2008 That's the terrible thing about life in general, we all try to mark to model, but we all end up being marked to market.Bloody entropy. Brilliant. Quote Link to comment Share on other sites More sharing options...
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