Get Rich Quick Not

[Nige F]

So , we will have "middle class " landlords trying to rent to like minded "professionals" because the readily available subsidised " working class" renters will be squeezed out of the market into low grade rentals . Slum Landlord is the Way to Go . Cus the professionals just hate spending their money more than they hate paying their offspring`s school fees and having them live @ home for decades .

 

[joe-90]

I heard that the return of the rent officer is on the cards, He/she goes around and tells you the amount you can rent it out for - just like in the 60s.

Rents are held artificially high by benefits - and if benefits aren't reduced - the UK goes bust.

 

[EddieM]

I think i have to agree with Joe, i for one wouldn't like to be in the property business at the moment, house prices are artificially far too high, they probably need to halve in value. Viz an average house needs to be about 3x an average salary.

 

[mysteryman]

Property dropped by about 50% here in the mid-90s.

Ireland Greece and Spain are in the mess they're in because of speculative property bubbles which have popped.

It can happen again. The very long term should be OK - who knows?

 

[pred]

I heard that the return of the rent officer is on the cards, He/she goes around and tells you the amount you can rent it out for - just like in the 60s.

Rents are held artificially high by benefits - and if benefits aren't reduced - the UK goes bust.

Nothing against people claiming benefits, however i will not be renting them a house anytime soon. so your "rent officer" can take a hike

 

[FiremanT]

Mobody, as far as I can see, has mentioned a regulatory issue. I could be wrong, but if you are organising a scheme inviting 300 individuals, not necessariy known to each other to "invest" (your word) cash, then it probably (almost certainly) would need to be authorised by the FSA.

Although, on a small scale, this sort of thing can work - it would be a minefield on the scale you are proposing. Who decides when to sell? Who draws up and oversees the contracts? Who will pay any legal fees? Who will clear the bogs?The list is endless.

 

[pred]

Mobody, as far as I can see, has mentioned a regulatory issue. I could be wrong, but if you are organising a scheme inviting 300 individuals, not necessariy known to each other to "invest" (your word) cash, then it probably (almost certainly) would need to be authorised by the FSA.

Although, on a small scale, this sort of thing can work - it would be a minefield on the scale you are proposing. Who decides when to sell? Who draws up and oversees the contracts? Who will pay any legal fees? Who will clear the bogs?The list is endless.

Always with the problems, i'm getting suicidle again, did Henry Ford have these problems when he put forward his plan i wonder.

 

[pred]

Property dropped by about 50% here in the mid-90s.

Ireland Greece and Spain are in the mess they're in because of speculative property bubbles which have popped.

It can happen again. The very long term should be OK - who knows?

How much money did Spain borrow? Thats why i said put in only what you dont need, but again i'm not trying to convert anybody but offering a solution to similar minded individuals like myself, they have already got a portfolio, and cant raise anymore at present while prices are low to buy more property.

 

[pred]

I think i have to agree with Joe, i for one wouldn't like to be in the property business at the moment, house prices are artificially far too high, they probably need to halve in value. Viz an average house needs to be about 3x an average salary.

Eddie, hi! dont think house prices will drop, i put one on the market for £275k and had an offer of £250k so i let it again, there are hundreds like me they are not going to sell in negative equity.

So that leaves your salary, it will probably double over the next 10years, so you will once again be in the market to buy properties.

 

[Space cat]

Mobody, as far as I can see, has mentioned a regulatory issue.

I hadn't even thought about the FSA. This really is a legal minefield.

Always with the problems, i'm getting suicidle again, did Henry Ford have these problems when he put forward his plan i wonder.

When the first building societies were set up they must have had to jump through much the same hoops - but they did it anyway.

 

[joe-90]

I heard that the return of the rent officer is on the cards, He/she goes around and tells you the amount you can rent it out for - just like in the 60s.

Rents are held artificially high by benefits - and if benefits aren't reduced - the UK goes bust.

Nothing against people claiming benefits, however i will not be renting them a house anytime soon. so your "rent officer" can take a hike

The rent officer decides the rent - nothing to do with benefits.

 

[EddieM]

I think i have to agree with Joe, i for one wouldn't like to be in the property business at the moment, house prices are artificially far too high, they probably need to halve in value. Viz an average house needs to be about 3x an average salary.

Eddie, hi! dont think house prices will drop, i put one on the market for £275k and had an offer of £250k so i let it again, there are hundreds like me they are not going to sell in negative equity.

So that leaves your salary, it will probably double over the next 10years, so you will once again be in the market to buy properties.

err, no it won't, its already 4 x the average, i still have no prospect of getting a house.

 

[joe-90]

You're on a 100K and can't afford a house?

 

[pred]

You're on a 100K and can't afford a house?

Far out man, by my calculations in 10yrs you'll be on £200k

 

[joe-90]

He'll be on the dole and you'll be a bankrupt more like.