Reply to: Welcome to the CUK Dragon's Den

[Incognito]

Really? Excellent. Will it be a violent, gory finale - or will she just slump forward into her cornflakes?

She has a heartattack because she walks in on Jim Brennan fisting Patrick Truman.

She didn't agree on the inter-racial mixing.

[realityhack]

Where are you watching Eastenders at 14.45 on a Friday? Dot dies by the way.

Really? Excellent. Will it be a violent, gory finale - or will she just slump forward into her cornflakes?

[Incognito]

No problem - actually I've found an interesting bit of peeling wallpaper to stare at instead. Beats Eastenders.

Where are you watching Eastenders at 14.45 on a Friday? Dot dies by the way.

[realityhack]

Nah don't bother. If Cybercretin was to join his chum Incompleto, it would be like a re-run of Dumb and Dumber.

No problem - actually I've found an interesting bit of peeling wallpaper to stare at instead. Beats Eastenders.

[Incognito]

Nah don't bother. If Cybercretin was to join his chum Incompleto, it would be like a re-run of Dumb and Dumber.

That's funny, I saw what you did there. Ha ha.

[sasguru]

Still at it?

I've brought some more, if anyone's interested.

Nah don't bother. If Cybercretin was to join his chum Incompleto, it would be like a re-run of Dumb and Dumber.

[realityhack]

Still at it?

I've brought some more, if anyone's interested.

[Incognito]

I'm glad to see you're having a good day. Makes a change, get a bit last night then? How much was she?

[sasguru]

Purely about balancing my finances. I'd rather borrow £30k over 2 years and buy 1 than £60k over 4 years and buy 2.

And before anyone starts saying that's daft and exactly the same, we're not in the sector that guarantees you'll be in the same situation in 4 years.

I'm quite happy at losing say £10k to £15k in final return when I've made a return of 300%.

[Incognito]

You can believe what you want. I have more than 2.

[DimPrawn]

Purely about balancing my finances. I'd rather borrow £30k over 2 years and buy 1 than £60k over 4 years and buy 2.

And before anyone starts saying that's daft and exactly the same, we're not in the sector that guarantees you'll be in the same situation in 4 years.

I'm quite happy at losing say £10k to £15k in final return when I've made a return of 300%.

Somehow I don't believe anything you are saying. I reckon you have one or two BTL's that you bought a couple of years ago and that's where your property empire ends. The rest is fantasy land.

For that reason, I'm out.

[Incognito]

Purely about balancing my finances. I'd rather borrow £30k over 2 years and buy 1 than £60k over 4 years and buy 2.

And before anyone starts saying that's daft and exactly the same, we're not in the sector that guarantees you'll be in the same situation in 4 years.

I'm quite happy at losing say £10k to £15k in final return when I've made a return of 300%.

[DimPrawn]

I agree 100% with you; I'd stated earlier that I'm not in it for short term gains. I'm building up a portfolio that I hope will dwarf whatever pitiful pension payment I eventually get when I retire. That's why I also pay back the capital on my mortgages as well (sharp intake of breath from all those property speculators).

I also agree that if you want to sell and make short term gains then now is not the right time to buy. However going back to Sas's original point about me waiting 3 years, it goes against my game plan of a new flat every 2 years with finance raised against my existing portfolio. I'm not worried about the mortgage interest rates as I keep my rents low to guarantee tenants to cover the repayments.

I still can't see the logic in sticking to your "2 yr game" plan and buying now versus holding off on buying anything and then buying a load more in say 5 yrs time if thats generally agreed to be the bottom?

If you buy today at say £150K and you can get the same flat next year for £100K, how does spending an extra £50K of borrowed money make any sense at all?

[Incognito]

I agree 100% with you; I'd stated earlier that I'm not in it for short term gains. I'm building up a portfolio that I hope will dwarf whatever pitiful pension payment I eventually get when I retire. That's why I also pay back the capital on my mortgages as well (sharp intake of breath from all those property speculators).

I also agree that if you want to sell and make short term gains then now is not the right time to buy. However going back to Sas's original point about me waiting 3 years, it goes against my game plan of a new flat every 2 years with finance raised against my existing portfolio. I'm not worried about the mortgage interest rates as I keep my rents low to guarantee tenants to cover the repayments.

[tim123]

Notice the rise from 1995 to 2005, just under 200%. It's the easist thing in the world to produce figures to back up your argument with the current climate. I'm speculating on the market recovering and continuing as it has.

But we are not at 1995 equivalent on the graph, we are at the 1990 equivalent point.

Buying then, it took until 2002 years for property to go back up to the price paid 12 years before. So that's 12 years for zero return.

If you want to make a killing on propery in the current cycle, you have to find the 1995 point, and now most certainly ain't it matey!

And this is the only thing on which we disagree with you. We don't need lessons in how prices go up three fold if you buy at the bottom of the cycle, we all know that. All we are disagreeing with you on is, whether this is the bottom of the cycle. My million [1] in the bank says that it isn't (by a long way).

tim

[1] No, not really (not in pounds anyway)!