Old Conservatives don't understand

[motorbiking]

Always nice to see motorbiking refusing to answer.

I remember he never admitted to making up his "press release" story.

Someone who thinks they can get a 100% BTL mortgage on a property and have the rent cover their costs is misinformed. You can call them a liar or a fool or both if you want. There may be a few clever or lucky ones who pick the right place at the right time, but most wont.

It's no different to people who borrow money to short stock. Some can make it work most will lose money.

 

[motorbiking]

So you as a private landlord can do exactly the same.

Unlike a council who does it for the benefit of the community, I am subject to income, second property & capital gains tax. Unlike a public sector employee, I don't have a defined benefits pension so need my investments and effort to turn a profit.

However, if such a council came up with a scheme, I might be tempted to invest, particularly if the returns were not subject to the above.

 

[carmanmemoranda]

Unlike a council who does it for the benefit of the community, I am subject to income, second property & capital gains tax. Unlike a public sector employee, I don't have a defined benefits pension so need my investments and effort to turn a profit.

However, if such a council came up with a scheme, I might be tempted to invest, particularly if the returns were not subject to the above.

In addition to the increase in value of your asset at no direct cost to yourself.

All 1 way isn't it, and you want more

 

[motorbiking]

You seem to not understand the concept of investing. Let me explain:

You take some money + effort + knowhow and you put it in to a project in the hope that you make a return on it.

Do you hold any stocks? Are you happy to get a dividend in addition to the increase of your asset at no direct cost to yourself.

All 1 way isn't it, and you want more.

 

[transam]

In addition to the increase in value of your asset at no direct cost to yourself.

All 1 way isn't it, and you want more

Well the way I see it if and when you flog your house you can advertise it for what you paid for it

There bye getting yer snout out the trough ????

 

[carmanmemoranda]

Well the way I see it if and when you flog your house you can advertise it for what you paid for it

There bye getting yer snout out the trough ????

I don't have a problem with anybody being a landlord

For their investment, no effort is needed, they will get a good return on an asset that increases in value, all at no cost to themselves.

That's all fair enough.

If councils are forced to sell off such property at subsidised rates, then so should all landlords.

It's that simple I don't understand why you and motorbiking struggle. MB was trying to suggest it's difficult to cover costs, and make money. All while his investment is increasing in value.

If there's no money in it, sell the property off, for the same price you bought it for

 

[gas112]

I don't have a problem with anybody being a landlord

For their investment, no effort is needed, they will get a good return on an asset that increases in value, all at no cost to themselves.

That's all fair enough.

If councils are forced to sell off such property at subsidised rates, then so should all landlords.

It's that simple I don't understand why you and motorbiking struggle. MB was trying to suggest it's difficult to cover costs, and make money. All while his investment is increasing in value.

If there's no money in it, sell the property off, for the same price you bought it for

no cost to themselves ? tell us how you work that out
Always a good return ? never heard of 15% mortgage rates
And property doesnt crash ! never heard of negative equity and we are not talking the possibility of small % drops i remember house prices dropping close on 50%

 

[carmanmemoranda]

no cost to themselves ? tell us how you work that out
Always a good return ? never heard of 15% mortgage rates
And property doesnt crash ! never heard of negative equity and we are not talking the possibility of small % drops i remember house prices dropping close on 50%

If its costing you money to rent out you are getting it wrong. Pack it in, sell up

Again if you are not getting a good return, sell up and invest the money in a bank. Guaranteed interest. Doubt it's as good as property though.

Yes property has the occasional crash. Ever known prices to be in negative status for long? But even so you're still getting your rent, so no loss, just temporary negative equity.

I've been around a while. I'd like to know when they dropped 50%.

If being a landlord isn't for you, don't do it. I don't know of any landlord not making money or increasing the value of his asset with somebody else's money

 

[transam]

I don't have a problem with anybody being a landlord

For their investment, no effort is needed, they will get a good return on an asset that increases in value, all at no cost to themselves.

That's all fair enough.

If councils are forced to sell off such property at subsidised rates, then so should all landlords.

It's that simple I don't understand why you and motorbiking struggle. MB was trying to suggest it's difficult to cover costs, and make money. All while his investment is increasing in value.

If there's no money in it, sell the property off, for the same price you bought it for

Never heard such nonsense and self regarding twaddle in a while

 

[carmanmemoranda]

Never heard such nonsense and self regarding twaddle in a while

You should read some of what you post then.

But the points stand.

Either all landlords should be forced to sell to qualifying renters, or all shouldn't.

Why should us taxpayers be shafted for the benefit of a few ? Explain that

 

[transam]

You should read some of what you post then.

But the points stand.

Either all landlords should be forced to sell to qualifying renters, or all shouldn't.

Why should us taxpayers be shafted for the benefit of a few ? Explain that

Shafted ?? That’s the perils of being a tax payer

Obviously you did not have a close relative who lived in a council house ?

Yes exactly

 

[gas112]

If its costing you money to rent out you are getting it wrong. Pack it in, sell up

Again if you are not getting a good return, sell up and invest the money in a bank. Guaranteed interest. Doubt it's as good as property though.

Yes property has the occasional crash. Ever known prices to be in negative status for long? But even so you're still getting your rent, so no loss, just temporary negative equity.

I've been around a while. I'd like to know when they dropped 50%.

If being a landlord isn't for you, don't do it. I don't know of any landlord not making money or increasing the value of his asset with somebody else's money

1 never heard of people defaulting on rent and it taking a year to get them out then have 5 figure repairs because they have trashed it.
2 . you have a good idea of what return will be but as above things happen . Sell up not always possible in rising interest rate recession period
3. negative equity for long yep seen people in it for several years
4. yep late 80`s early 90`s prices crashed and again about 15 years ago and dont forget local stuff can cause prices to crash not just national /international.
5. you seem to think property always go up . Long term yes short term even as long as 10 years property can devalue.
i know of several landlords running at a loss because they have been drawn into believing its a good money earner but havent got any money behind them to carry out essential repairs and maintenance. People who could cover payments at 2% interest rates but at 6 and 7% they are completely stuffed

 

[carmanmemoranda]

1 never heard of people defaulting on rent and it taking a year to get them out then have 5 figure repairs because they have trashed it.
2 . you have a good idea of what return will be but as above things happen . Sell up not always possible in rising interest rate recession period
3. negative equity for long yep seen people in it for several years
4. yep late 80`s early 90`s prices crashed and again about 15 years ago and dont forget local stuff can cause prices to crash not just national /international.
5. you seem to think property always go up . Long term yes short term even as long as 10 years property can devalue.
i know of several landlords running at a loss because they have been drawn into believing its a good money earner but havent got any money behind them to carry out essential repairs and maintenance. People who could cover payments at 2% interest rates but at 6 and 7% they are completely stuffed

No sympathy sorry.

Most landlords prosper. I don't know any who aren't doing well out of their stock, even over the last couple of years.

Sell up if you can't make money out of it and put the money somewhere safe.

Safe is a lower risk, lower reward thing.

You are assuming I don't have a stake of course.

 

[JohnD]

Unlike a public sector employee, I don't have a defined benefits pension

You seem to have a persistent resentment against people such as MPs and some retired teachers who have a DB pension.

Your resentment is however entirely irrelevant to the forced sale of homes at prices below their value, to benefit a lucky minority to the detriment of the rest of us. Which you approve of. But only when you don't like the owners.

 

[motorbiking]

It's interesting that you think the poorest, most needy in society (the people who qualify for a council house), who have managed get themselves to the point they can qualify to buy their council home are somehow lucky.

I'm still not convinced you have bothered to read the rules and the data. But maybe you choose to ignore it because the facts don't support your argument.