SouthWalesSam

iTrader: (1)

Yes, this is more like what he should have done.

SouthWalesSam

iTrader: (1)

I'm a multi property Buy-to-Letter and I'm proud of it.

Been doing it 25 years. I manage my own properties and it's hard work. Started yesterday morning with a Council inspection, then cleaned rooms, hung some blinds and curtains and arrived back at my office pm to do my day job.

But I wish I had twice as many properties as I have now. And so do my tenants because several have left and then come back and they keep asking me if I've a got a place for a mate of theirs.

And if I want to spend my post-tax earnings on a second home who are you to tell me I'm encroaching on your entitlement?

ReallyReallyGoodMeat

Well, why not buy every single house that comes on the market, pricing first timers out of the market, then you can rent it back to them at double the mortgage rate, and REALLY make some money out of them!

Matteeboy

Noticed your recent comments. They are rather silly.

f1_fan

iTrader: (9)

Oh the f**king irony

SouthWalesSam

iTrader: (1)

Don't be daft. With property the real profit is in asset value growth, rents can't buck the market. You can only charge what people are willing to pay for any type of property in any area.

Probably one third of my tenants move on as first-time buyers. They're able to do that because they pay good value rents and they're able to save a deposit. And I'm a partner in a financial service firm and we can give mortgage advice to first time buyers.

EddScott

LOL,



I'm not joining you two's love in but this was the first thing that sprang to mind.

ReallyReallyGoodMeat

Well when my kids need £1m plus to get a one-bed flat in 10 years time while you have your buy-to-let property portfolio worth who knows what, then I'd say of course I am perfectly valid in my concern for them, as should everyone in society. It is not a healthy way to run the housing market.

Besides, I'm not saying it should be banned to own multiple properties, but there should be a penalty for reducing the availability of housing stock.

SouthWalesSam

iTrader: (1)

I started out with my family of 6 living in two rooms and sharing a loo and a stove on a landing. I vowed I'd never go back to that. I'm proud to have moved on.

And, yes, modest as I am, I'm pretty good at what I do.

Sam

SouthWalesSam

iTrader: (1)

So when my wife and I converted an empty 4-storey Victorian into 3 flats were we reducing the availablity of the housing stock? Ask the 2 couples and the single bloke living there now.

ReallyReallyGoodMeat

You have not changed my perception of buy-to-let landlords.

f1_fan

iTrader: (9)

Fair play to you mate. I was just laughing at Mattee 'I'm a cool surfing dude with an awesome BMW living the perfect life in Cornwall' boy's nerve at critcising someone else for saying they are doing well

Oi you, keep quiet

alcazar

iTrader: (2)

This^^^

The last lot were stupid and hishonest enough to get us IN to this mess, but THIS lot seem to have zero idea how to get us out of it....

Matteeboy

Have you ever considered your constant need to dig at me and my lifestyle might actually be a very clear reflection of yourself F1?

Yep we live by the beach, I surf a lot, we have a good but ageing BMW plus the van, yep business is fairly good but woopee fricking too, who else gives a flying f***? You like to blow your own trumpet on a daily basis; do you have an ounce of self awareness? No you don't.

And Sam - telling us how well you've done and how good you are at your job.



Edd has it bang on the nail; a similar mentality has raped the life out of much of this county. But hell, as long as a few are making good money, go f*** everyone else.

SouthWalesSam

iTrader: (1)

Understood. But I didn't say it to say I was doing well. I said it to make it clear it's hard work being a good private landlord. And no-one's entitled to own property by right. You have to work and save for it.

And it isn't landlords' fault that the country's not building enough houses to keep up with household growth, and the planning system's crap and mortgage lenders charge massive spreads on the cheap money they get for the BoE, and ... and ...

ReallyReallyGoodMeat

I don't doubt being a landlord is hard work, I've not said anything to the contrary.

House prices should be lower, but the inflated demand caused in part by investment speculators foreign and local, is helping to keep it high and out of reach of many. Soon enough we'll be a country of landlords and renters. I fear for the younger generation, who will never even with a good salary be able to afford their own place. It's not a right to own a property, but it's getting ridiculous. Taxation would change this.

SouthWalesSam

iTrader: (1)

The truth would have come out eventually, so I might as well just be up front about it and tell everyone.

Hell, if I wasn't so modest I be running the country by now... !

dpb

Owning your own property is always going to be a vote winner, if you suggested otherwise you probably wouldn't get anywhere,
But it's kind of been a disaster waiting to happen as far as I can see

SouthWalesSam

iTrader: (1)

I'm good. But I can't do the impossible.

Matteeboy

Totally agree.

ReallyReallyGoodMeat

SouthWalesSam

iTrader: (1)

It wasn't Gordon Brown (history will show he was a pretty good Chancellor), Northern Rock or RBS's greedy takeover that got us into this mess.

Mostly, it was American banks making bad property loans to people who couldn't afford to or didn't intend to repay them but who wanted to chase the property ownership dream.

And mass property ownership is a relatively recent aspiration in the UK. It is certainly not a long standing tradition and only picked up in parts of Britain the 70s and 80s. But it's always sold as if it's what we've always done.

f1_fan

iTrader: (9)

Nope

Where?

speedking

But the new help-to-buy scheme only applies to new-build property which is only 0.5% of housing stock.

I don't agree with artificially propping up the price of property. Supporting construction jobs is probably a good thing though.

ReallyReallyGoodMeat

And they'll receive more stamp duty from the extra sales.

Matteeboy

I thought not. You can have an IQ of 200 but without one drop of emotional intelligence, your hands are rather tied.

TBH it's pretty obvious from your posts too.

f1_fan

iTrader: (9)

You're entitled to your opinion Couldn't care less about it mind

I notice you have failed to provide any evidence of my so called 'daily trumpet blowing!

Matteeboy

I'm on my iPhone; searching, putting links, etc are all a complete pain. I will look later when on a proper computer.

It's seems the mobile version of every website actually means "bu99er all functionality!"

f1_fan

iTrader: (9)

:

EddScott

http://www.bbc.co.uk/news/uk-politics-21881007

Sweet! Just about to buy a second home - yes lads that's right, I'm well off!

The government are going to help pay for it. Up the Tories!!!!