The Interest Only landlord is royally screwed thread

[Band]

2 hours ago, Majorpain said:

You're all being so mean to him.

I bet the poor bloke can't afford a Range Rover for his wife and she has to drive something as ghastly as a Merc.

On an unrelated note, he should probably file for bankruptcy now when he might get to keep some of his assets from the bank!

70 families to be evicted because we live in a crony capitalist country where the LIBLABCON party have continued supporting landlords overleveraged debt hoarders.

Hopefully some of the tenants will get to buy at fire sale prices, maybe someone can buy one to rent to this soon to be bankrupt parasite.

[MrXxx]

5 hours ago, Admiral Pepe said:

I've just had the estate agents round to my rented accom as I expressed the kitchen and particulary the bathroom could do with a refresh especially as we';re heading into winter. Neither have heating so the cold really effects the cheap lino. The landlord always does everything on the cheap and will go as long as he can to wait to fix something. Wouldn't fix the kitchen tap until it actually sprung a leak, rather than when I let them know it's loose and needed fixing. I don't have a problem with that but I don't get it either. He put a new oven in 18 months ago and the thing blew an element a month back. So while the agent was round I asked how much it cost to fix, £90 inc the call out. So why not just put a decent oven in and not worry about it. One would think looking after your investment would make sense. As I said above I don't get why people don't just stick their money in a fund, get a 4-5% divi and don't worry about the hassle. Tax free too

People don't stick their money in a fund as they don't understand them, see the misselling in the media (and so don't trust them), and only really know property as an investment (unlike shares) that will always be worth something.

[One percent]

3 minutes ago, MrXxx said:

People don't stick their money in a fund as they don't understand them, see the misselling in the media (and so don't trust them), and only really know property as an investment (unlike shares) that will always be worth something.

They ain’t making more land. 

[Cosmic]

3 minutes ago, MrXxx said:

People don't stick their money in a fund as they don't understand them, see the misselling in the media (and so don't trust them), and only really know property as an investment (unlike shares) that will always be worth something.

Yep, they understand property investment... yet give you blank looks when you ask them what their NET and GROSS yields are, or what they've allocated for voids and maintenance. My GF is one such... infuriating.

[MrXxx]

3 minutes ago, Cosmic Apple said:

Yep, they understand property investment... yet give you blank looks when you ask them what their NET and GROSS yields are, or what they've allocated for voids and maintenance. My GF is one such... infuriating.

Voids don't matter as its an investment that will always go up in value (until it doesn't), and maintenance is only a few pounds/tins of paint per year...

[Wight Flight]

My first place, in 1987, was a 1 bed flat. I had to move out for a year or two to look after my father so rented it out. 

In the end, I didn't move back. But I had a happy tenant so left her there.  She moved on after about 8 years and another lady moved in. She was there for about 12 years when I needed to sell.

When I sold, I had accumulated about £17k of brought forward operating losses. Landlord cashflow, if you do it in a humane way, isn't always positive.

To be fair, I did make about £80k in capital gains, but I would estimate that with tax, inflation, loss of use of funds etc I probably did little better than break even.

 

[macca]

FED’s next rate rise meeting is November 7th/8th

BOE next rate rise meeting is November 2nd/8th

If the FED goes to 2.5% will the BOE and ECB have to raise?

Could we see a BOE rise on 8th November to 1%

the tightening has begun! 

[MrXxx]

7 hours ago, macca said:

FED’s next rate rise meeting is November 7th/8th

BOE next rate rise meeting is November 2nd/8th

If the FED goes to 2.5% will the BOE and ECB have to raise?

Could we see a BOE rise on 8th November to 1%

the tightening has begun! 

Psychologically, if it goes to 1% I think it will be a turning point in most people's minds.

[One percent]

24 minutes ago, MrXxx said:

Psychologically, if it goes to 1% I think it will be a turning point in most people's minds.

What? What is c9ming to me?  Lots of money?