Reply to: Do nothing, add no value and become a millionaire

[Freamon]

Indeed. The govt has bailed them out (effectively) they they are sitting on £100,000,000 for doing nothing except borrowing mind boggling amounts of money.

I'd say they are smart cookies. They know that whatever govt is in power they are protected by the BoE only target, which is to increase house prices.

If we all did this, Britain would be the richest country in the world and no one would ever need to work again.

I can see why Sir Lord Merv is so keen on it now.

I'm not so sure. I wouldn't say the BoE or the govt are capable of getting rates to 0.5% unilaterally, and there was no guarantee or even overwhelming likelihood that this was going to happen.

[DimPrawn]

Check the date of the article. Its an old one. They have since continued their house acquiring spree.

Indeed. The govt has bailed them out (effectively) they they are sitting on £100,000,000 for doing nothing except borrowing mind boggling amounts of money.

I'd say they are smart cookies. They know that whatever govt is in power they are protected by the BoE only target, which is to increase house prices.

If we all did this, Britain would be the richest country in the world and no one would ever need to work again.

I can see why Sir Lord Merv is so keen on it now.

[fullyautomatix]

Like these two: Fergus & Judith Wilson: Buy-to-let gurus see empire crumble | This is Money

Check the date of the article. Its an old one. They have since continued their house acquiring spree.

[fullyautomatix]

Eventuially the long awaited housing correction will come.
Best to have made money out of the 1995-2907 spurt then cashed iin.

What is this housing correction ? Where ? When ? Cant see it happening in Birmingham city centre flats.

[Mich the Tester]

Dammit!

SDATF!

[AllezFrance]

Old Michy boy knows a lot about doing nothing and adding no value - good thread to contribute to.

[Spacecadet]

KUATB!

http://forums.contractoruk.com/gener...ml#post1448992

You must spread some Reputation around before giving it to Mich the Tester again.

Dammit!

[Mich the Tester]

Yep, but most of us can't wait 900 years for our payout. Zeity might do well out of it though.

KUATB!

http://forums.contractoruk.com/gener...ml#post1448992

[Mich the Tester]

You been talking to Threaded again?

beat me to it

[Mich the Tester]

Best to have made money out of the 1995-2907 spurt then cashed iin.

Yep, but most of us can't wait 900 years for our payout. Zeity might do well out of it though.

[Spacecadet]

Eventuially the long awaited housing correction will come.
Best to have made money out of the 1995-2907 spurt then cashed iin.

You been talking to Threaded again?

[sasguru]

Have you guys read the report? Yes they have a few disgruntled tenants (who doesn't?) and a certain % of mortgage payments not fully covered by their rental income, but overall it seems pretty good for them.

They might have been in trouble at one stage, but the banks have slashed their mortgage interest rates and now the old couple are making more money than ever.

Lord knows what they're doing with 700 houses though. I guess they've never played Monopoly.

Eventuially the long awaited housing correction will come.
Best to have made money out of the 1995-2907 spurt then cashed iin.

[Freamon]

Lord knows what they're doing with 700 houses though. I guess they've never played Monopoly.

When all you have is a hammer...

[ChimpMaster]

They were idiots who didn't realise it was a bubble. Simple Darwinism in action. Weren't they teachers or something before?

Have you guys read the report? Yes they have a few disgruntled tenants (who doesn't?) and a certain % of mortgage payments not fully covered by their rental income, but overall it seems pretty good for them.

They might have been in trouble at one stage, but the banks have slashed their mortgage interest rates and now the old couple are making more money than ever.

Lord knows what they're doing with 700 houses though. I guess they've never played Monopoly.

[Freamon]

They were idiots who didn't realise it was a bubble. Simple Darwinism in action. Weren't they teachers or something before?

Yeah, maths teachers.