Saturday, April 12, 2008

Desperate Bricks Chicks

There are still opportunities in buy-to-let

Is buy-to-let dead? No, but it is gasping for air. Amateurs are no longer willing to invest because many have made fundamental errors, such as buying properties that were not going to let, or at inflated prices. Professional investors can now buy at prices that are regarded as realistic. Those with a portfolio of more than five homes are usually able to negotiate special deals with lenders.

Posted by little professor @ 09:44 AM (517 views)
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3 thoughts on “Desperate Bricks Chicks

  • Another way of deflecting attention from the debt crisis is to distinguish between ‘professional’ and ‘amateur’ investors. So, the losers lost because they were amateurs who made fundamental mistakes but the professionals can carry on making money. If investor competence is the problem why don’t Brown and the Badger just run a series of property seminars instead of talking about baling out the losers?

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  • I saw this comment in the times and thought it was worth posting….

    “Judith

    just how bad will it have to get before you hold up your hands and admit it’s game over? Sometimes I wonder whether your local estate agent won’t have to be taken over by the four horsemen of the apocalypse before you actually advise people to wait until prices correct to a sensible level. Still, reading your column makes me smile”

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  • “Those with a portfolio of more than five homes are usually able to negotiate special deals with lenders.”

    This reminds me of the philosophy of “If I owe the bank £1,000, it is my problem. If I owe the bank £1,000,000,000 it is most definitely the banks problem”. Can you image the BTL saying “give me a 6th mortgage otherwise I will default on the other 5”

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