House prices

[ladymuck]

Personally I think you did the right thing by selling that flat. Flats come with financial burdens such as Ground Rent + Maintenance + Lease period etc on top of usual things. Besides generally a flat don't yield a considerable profit even when you sell it (as opposed to Semi for instance).

That's the issue (as I see with my 20/20 hindsight) - the ground rent was peppercorn, the maintenance was under a grand a year, the management company were sensible, and the lease was long. I more than doubled my money on it in two years of ownership, so had bags of equity. Rental, at that time, would have been 150% of my mortgage repayments.

The numbers all stacked up but I was too much of a wuss.

[d000hg]

I would expect contractors to look through statistics to determine how they are calculated.

The main reason average house has risen in price is a simple change. There are now many more transactions of houses that are larger and have always been worth more. Many people are relocating to larger houses in the city and countryside.

Have you checked the data to see if they support that hypothesis? CAn you share it?

[NowPermOutsideUK]

Still working and no intentions to stop. My BTL portfolio has always been looked at as a retirement plan. When I pay the others off I may start buying some more to build on the portfolio. But the cash coming in for this is being reinvested. If the contracting goes tits up at any point I can start to use the BLT income as my warchest but for now I'd rather use it to build up a hefty retirement income.

Ok but those 8 properties must give you a net worth of at least 1.5MM and more likely 3MM.

At what point do you say thats enough and the flood of Noah would not wipe me out?!

[WTFH]

Ok but those 8 properties must give you a net worth of at least 1.5MM and more likely 3MM.

At what point do you say thats enough and the flood of Noah would not wipe me out?!

No point being the richest man in the graveyard, why are you so obsessed with everyone else's earnings?

[NowPermOutsideUK]

I think its called conversation...

Where one party listens to teh views of the others and assesses whether their views on life need to be calibrated

For example if the poster said 2MM is my cut off and someone else has already broken through 3MM then that might give them the encouragement to also stop working

Equally if the poster says that 3MM is not enough and I need 6MM because <enter life event here / parents needing home care> then that same 3MM forum viewer might be motivated to continue

Its the same reason people go the pub - To talk share ideas and collaborate ideas with one another to either have their understanding reaffirmed or be persuaded to look at things from a different angle

[eek]

I think its called conversation...

Where one party listens to teh views of the others and assesses whether their views on life need to be calibrated

For example if the poster said 2MM is my cut off and someone else has already broken through 3MM then that might give them the encouragement to also stop working

Equally if the poster says that 3MM is not enough and I need 6MM because then that same 3MM forum viewer might be motivated to continue

Its the same reason people go the pub - To talk share ideas and collaborate ideas with one another to either have their understanding reaffirmed or be persuaded to look at things from a different angle

So basically you are the pub bore, only interested in money and absolutely nowt else.

[NowPermOutsideUK]

So basically you are the pub bore, only interested in money and absolutely nowt else.

Maybe but I always insist on paying for the drinks !

[ladymuck]

Maybe but I always insist on paying for the drinks !

Except in London when you whine like a little b*tch

[pjt]

Ok but those 8 properties must give you a net worth of at least 1.5MM and more likely 3MM.

At what point do you say thats enough and the flood of Noah would not wipe me out?!

Nah the properties are combined worth probably about £800K. The profit on them at the moment gives me about £40k after costs and taxes etc. So not really at a retirement level. As I say its a pension play. If I can get some more properites the will provide a pretty healthy top up to my pension. But I've been working as a contractor for years and I've developed a fairly expensive lifestyle with a fair chunk left to pay on my mortage as well as all my other costs so the moneys not there to retire at least not at the income I'd like to. Still fairly young so have a good few years work in me before I'd even consider chucking it.

[d000hg]

So basically you are the pub bore, only interested in money and absolutely nowt else.

He's the one suggesting the other guy should retire. Which seems a fair point.