Mortgage paid off... now what?

[DimPrawn]

Zopa averages a return of 7.9% before bad debts. I can imagine you've not had a bad debt but not on the amount you purported to have invested the other day.

I've had about £40K in there for some time, and only recently bunged that up to £300K in loans. Never got a bad debt in £40K, so thought, receiving about 7% on a much larger sum seemed like a sensible thing to do, especially with inflation becoming rampant.

[milanbenes]

Yep I've already read it - the whole set of books, though the first was by far the best. My friend has actually met Robert through a £15,000 course which taught him all the ins and outs of property investing.

folks,

in amongst being distracted by DimPrawn's denial that interest rates are going to rise, and Threaded hi-jacking MF's account,

none of us picked up on this...


ChimpMaster,

your mate,

'My friend has actually met Robert through a £15,000 course which taught him all the ins and outs of property investing'


What exactly did your mate get for his £15,000 ?

Just curious you know.

Milan.

[alreadypacked]

ChimpMaster,

your mate,

'My friend has actually met Robert through a £15,000 course which taught him all the ins and outs of property investing'


What exactly did your mate get for his £15,000 ?

Just curious you know.

Milan.

I am guessing some stuff on "Fliping" a house as they call it in the USA

Buying with no money down, fixing it up and reselling it before any money is due etc.

Fine while you can buy in a good area and prices are rising. If not you can always sleep in your car.

HTH

[EternalOptimist]

AP is talking the best sense here. A mortgage is a loan and borrowing is bad.
bad bad bad.

All you need is somewhere palatable to live, a nice base for work, forget going for luxury. Spend the rest on fantastic holidays and keep churning your car.

KISS

[Pondlife]

What exactly did your mate get for his £15,000 ?

Just curious you know.

Milan.

The real question is how to run the course.

An old housemate of mine "got religion" off one of these courses. He paid about £3K and signed numerous NDAs. Some do it and make some cash, some get burnt... but the guy running the course was getting about £60K a month.

[OwlHoot]

I'd go further and say there's more chance of the BoE printing another £200bn to pay for bankers bonuses than interest rates rising in the next 4 or 5 years.

WHS - AtW is completely potty to keep renting instead of buying his own place.

[MarillionFan]

WHS - AtW is completely potty to keep renting instead of buying his own place.

Potty? Nah. Just a little...

[AtW]

WHS - AtW is completely potty to keep renting instead of buying his own place.

It's a well good place now - having my prepaid electric changed tomorrow

[MarillionFan]

I've had about £40K in there for some time, and only recently bunged that up to £300K in loans. Never got a bad debt in £40K, so thought, receiving about 7% on a much larger sum seemed like a sensible thing to do, especially with inflation becoming rampant.

You're obviously a financial genius. I'm a member of Zopa for years but have never leant. Having read the boards again, a return of 7% after the 1% fee no doubt and no bad debt must make you the most successful Zoparoopa. I'll look out for you on the board.

Have you looked at RateSetter.com btw. That seems to be getting a mention.

[ChimpMaster]

I am guessing some stuff on "Fliping" a house as they call it in the USA

Buying with no money down, fixing it up and reselling it before any money is due etc.

Fine while you can buy in a good area and prices are rising. If not you can always sleep in your car.

HTH

No so much. More on how to locate and identify a good BTL opportunity, and the team also helps you find the first one. My friend now owns 2 BTLs, both bought within the past year at approx 20% below market price: they needed a bit of work done but once it was completed he rented out at a reasonable return - not great, but good enough.

He probably got what I got out of the £5 book.

Seriously though, my friend found the course good value - he received a lot of one-to-one mentorship and is already generating income based on the teachings. Personally I'm not one to go on such courses, especially at that price, but maybe that's the reason why he appears a lot more confident about his business future (his main business also brings in ~£300k/year)