I am looking for long term investment here, pension type stuff. So I keep it ages, pay of the mortgage and then any rental is profit, or keep it long enough that I can pay of the mortgage and sell at some point, pocketing the full value.
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Politicians are wonderfull people, as long as they stay away from things they don't understand, like working for a living! -
Have you been to a UK residential (or commercial) auction recently?Originally posted by threaded
Every Tom, Dick & Harry is in there thinking they are the next property tycoon and paying over the odds for property.
Due to a rising market, so far so good, but...Comment
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I wonder if everyone "investing for the long term" will be able to hold their nerve when prices start to tank? Or will some people sell out, triggering an even bigger sell off?Originally posted by portseven
Did you see the new home sales data released in the states today?
"the median price of a new home sold last month fell to $229,100, a record 11.1 percent decline from the previous month. The big price decline indicated that builders are slashing prices in an effort to move a huge overhang of unsold homes."
The credit crunch is heading this way, via spain and Ireland, stopping at a BTL market near you soon....Comment
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Got me there, I've only been selling in the UK for the last few years and the last ones went on the market in the past few days. The markets peaked and I'm off...Originally posted by ClippyInsanity: repeating the same actions, but expecting different results.
threadeds website, and here's my blog.
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Exactly, and remember these are largely properties they couldn't sell in a rising market. A fool and his money etc...Originally posted by ClippyThe court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”Comment
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I suspect the newbie Rigsbys and those with big BTL mortgages will bail out early on and leave those with a bit more experience standing.Originally posted by pickle
I read a few months ago repossessions are on the up (nowhere near 90's levels, admittedly) but, surprise surprise, this isn't being widely reported.
Also the Halifax has recreated it's auction arm after closing their last one down many years ago!Comment
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Allsop had their first 2 day auction in several years a few months ago. Before that there weren't enough propertiesThe court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”Comment
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Bagpuss - have you 'dipped' in the auction market before?Comment
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Surely the stupid people are the ones that are spendnig the money that is thiers.Originally posted by BagpussComment
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I've looked into it over the last couple of years I've even done a couple of phone bids, but as you said things are going for far over estimate, so much so I can't see the value. I worked out the max spend from a rental perspective and stuck to that, bearing in mind the estimates take into yield.Originally posted by Clippy
I can only conclude people aren't doing the maths or thinking about what they are doing. It's probably all these daytime housing shows that are to blame. Even the properties with regulated tenancies were going for far too much (and they are a massive gamble).
Still as rates rise we could be about to see some possibilities once more.The court heard Darren Upton had written a letter to Judge Sally Cahill QC saying he wasn’t “a typical inmate of prison”.
But the judge said: “That simply demonstrates your arrogance continues. You are typical. Inmates of prison are people who are dishonest. You are a thoroughly dishonestly man motivated by your own selfish greed.”Comment
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