The joy of being a landlord

[hurfdurf]

If you think I'm in it to be a charity - think again! I'm here to make money pure and simple , your bag if you want to do otherwise. My funds are doing ok as is my pension.

You've quoted my post to reply to it but then not written anything that actually contributes to the conversation or addresses anything I have said. You've just written lots of statements. I didn't ask you about your funds, your pension, if you were in it to be a charity or not.

Privilege - I think you will find it's called hard graft over 40 years of being in the work place and being clever with money.

And never suffering a medical or other problem and being in a position and economy and having the upbringing in a society that allowed you to work for 40 years and be able to invest in a functioning market...

I will let my tennants be the judge of what sort of LL I am thankyou.

OK?

 

[Bald-Eagle22]

You've quoted my post to reply to it but then not written anything that actually contributes to the conversation or addresses anything I have said. You've just written lots of statements. I didn't ask you about your funds, your pension, if you were in it to be a charity or not.


And never suffering a medical or other problem and being in a position and economy and having the upbringing in a society that allowed you to work for 40 years and be able to invest in a functioning market...



OK?

Err no you mentioned other investments and err since you asked i have remitting relapsing MS . Some of us don't whine we just get on with it .My disability has far from hindred me I can assure you.

Please don't comment on any more of my posts , you got personal by telling me I was privileged.

 

[JonRGV250]

And never suffering a medical or other problem and being in a position and economy and having the upbringing in a society that allowed you to work for 40 years and be able to invest in a functioning market...

That has single-handedly got to be the most ridiculous post I've ever seen on this forum, and that's saying something, like really really saying something.
It would have made more sense if you just posted "waaaaahhhhh"

 

[hurfdurf]

Err no you mentioned other investments and err since you asked i have remitting relapsing MS . Some of us don't whine we just get on with it .My disability has far from hindred me I can assure you.

Please don't comment on any more of my posts , you got personal by telling me I was privileged.

You are privileged, like it or not. I’m glad you live in a society that has supported you throughout your MS. Congratulations on your success either way.

Some people do whine and don’t get on with it, some don’t have that option, hence you are privileged.

Feel free to place me on ignore if you don’t want me commenting on the posts you post on a public forum for discussion.

That has single-handedly got to be the most ridiculous post I've ever seen on this forum, and that's saying something, like really really saying something.
It would have made more sense if you just posted "waaaaahhhhh"

I take it you’ve not been on this forum long then.

 

[OspreyO]

You are privileged, like it or not. I’m glad you live in a society that has supported you throughout your MS. Congratulations on your success either way.

Some people do whine and don’t get on with it, some don’t have that option, hence you are privileged.

Feel free to place me on ignore if you don’t want me commenting on the posts you post on a public forum for discussion.


I take it you’ve not been on this forum long then.

Everyone's privileged, there's always someone worse off in the world. It's a facile comment. It's like saying waters wet.

 

[Vonhelmet]

Everyone's privileged, there's always someone worse off in the world. It's a facile comment. It's like saying waters wet.

There’s logically not always someone worse off in the world. If you want to play that game, then technically there is some poor ******* who is the worst off in the world. They are not more privileged over anyone.

 

[OspreyO]

It's isn't anyone on this thread.

 

[A2Z]

If you think I'm in it to be a charity - think again! I'm here to make money pure and simple , your bag if you want to do otherwise. My funds are doing ok as is my pension.

Privilege - I think you will find it's called hard graft over 40 years of being in the work place and being clever with money. I will let my tennants be the judge of what sort of LL I am thankyou.

If there was ever a LL that deserves to get ****** over by their tenants, either by trashing the place or refusing to pay rent, it's you. Your selfishness and entitlement is astounding.

 

[OspreyO]

Their income isn’t £200 though is it, they are paying off the house with that £1000 mortgage.

One of the main problems with Landlords is they expect other people to pay their mortgage to such a degree, they don’t even factor it in as a benefit, as this post I’ve quoted displays. It’s this attitude that leaves no one feeling sorry for Landlords.

Everyone pays their mortgage with money they got from someone else. Be it a job or a business.

Capital appreciation isn't technically income.

 

[Bald-Eagle22]

If there was ever a LL that deserves to get ****** over by their tenants, either by trashing the place or refusing to pay rent, it's you. Your selfishness and entitlement is astounding.

Yes yes yes , I've heard it all before . Not sure you understood the context in which I posted what I said but you need to read back through a few pages.Im eluding to upcoming changes in the law, some of it good for lanlords, some of it bad , some of it good for tennants and some of it bad.

Just for your information I have 3 BTL's all 1 bedroom flats all near big hospitals and I have been renting them out since I purchased the 1st one in 2004 invariably to medical professionals. In those 21 years I've never raised rents during anyone's tenancy , never had a missed payment and never had a property trashed - I wonder why that it ? Rents are increasd in line with market values when I have to find a new tennants , invariably because of the nature of the property tennancies last between 1 and 3 years the longest one I have ever had is 4 years and that was an Indian Dr who funnily enough invited me and my better half to a three day long wedding last year- I wonder why that was ? Just to annoy you more I have no mortgages on any of these but theses will be my main revenue stream in retirement , I could very easily have leveraged myself to 50%LTV and purchased three more and I was seriously thinking about this 2 years ago but saw this government were likley to be elected, I'm so glad I didn't

So now that you have an idea into my business model but what I'm eluding to is along with the change in law with the incoming Renters Right Bill , selective licensing , a central registration scheme and this talk of an N.I charge on property income that model changes and so does the way I review rents , don't get me wrong I'm all for these upcoming changes as I've been 100% legal buf it cost money and puts mors risk on Lanlords, if your bottom line is small your toast .

Oh as far as trashing the flat or non payment. Currently lanlords deal with this via a Section 21 application for possession, normally takes three to 6 months and they just absorb these costs and move on.Under the new upcoming renters right bill S21 is abolished and you can only evict or take possession via a section 8 . This takes a lot longer and is far more expensive BUT a CCJ will then follow that tennant around until the cost in its entirety is paid . The outcome for that or any new prospective Tennant being anyone with any CCJ ( even for a parking ticket )will never get a private rental - it just becomes to much of a risk for Landlords.

Selective licensing-this will be coming to all lanlords over the next few years and it sort of something I agree with but not in the way it's being implemented , In it's current form its clearly just a money grab from cash strapped local authorities. In short it's the council just asking a few questions, are you a fit and proper person these sort of questions, upload your EPC , gas safe cert and electrical safety certificate, OK you do all that and you would expect a visit from the local housing inspector to visit the property. Oh no you pay your £1000 for that year( yes a local borough in Sussex are charging this )and you get a license, NO VISIT.

So I've tried to give people a small insight into my life as a landlordand and the impact on upcoming changes and I stand by what I say , I'm doing this to make profit , pass an appreciating asset to my kids hopefully via trust unless the polit bureau change that.

I make zero apologies for what I do so if your going to call me selfish, entitled or privileged then please dont comment. You have zero idea of how hard I've worked over 40 years to achieve this on my own terms

 

[OspreyO]

You're over sharing. Some people don't get its a business. They don't want to get it. They aren't really interested in the business of it.

It's the same on other forums. Only place you can discuss business is business sites or financial sites.

 

[slinxy]

I’ve been buying shares in IUKP… I worked it out if I had 80k of shares at the current price of 4.00 per share, I would have 20k of shares.

The last quarter of dividends payment was 4.37p per share so I would have been given £874 for the last three months. This would be tax free as the shares would be held in an ISA hence the 80k.

Obviously there’s the chance of the shares going up and down, but so can house prices.. but I don’t have to pay for maintenance and a lot cheaper management fees, there’s no option for leverage either where it comes to REITs. Just wondering how this holds out against buying or owning a buy to let of equal value?

 

[Diagro]

Yes yes yes , I've heard it all before . Not sure you understood the context in which I posted what I said but you need to read back through a few pages.Im eluding to upcoming changes in the law, some of it good for lanlords, some of it bad , some of it good for tennants and some of it bad.

Just for your information I have 3 BTL's all 1 bedroom flats all near big hospitals and I have been renting them out since I purchased the 1st one in 2004 invariably to medical professionals. In those 21 years I've never raised rents during anyone's tenancy , never had a missed payment and never had a property trashed - I wonder why that it ? Rents are increasd in line with market values when I have to find a new tennants , invariably because of the nature of the property tennancies last between 1 and 3 years the longest one I have ever had is 4 years and that was an Indian Dr who funnily enough invited me and my better half to a three day long wedding last year- I wonder why that was ? Just to annoy you more I have no mortgages on any of these but theses will be my main revenue stream in retirement , I could very easily have leveraged myself to 50%LTV and purchased three more and I was seriously thinking about this 2 years ago but saw this government were likley to be elected, I'm so glad I didn't

So now that you have an idea into my business model but what I'm eluding to is along with the change in law with the incoming Renters Right Bill , selective licensing , a central registration scheme and this talk of an N.I charge on property income that model changes and so does the way I review rents , don't get me wrong I'm all for these upcoming changes as I've been 100% legal buf it cost money and puts mors risk on Lanlords, if your bottom line is small your toast .

Oh as far as trashing the flat or non payment. Currently lanlords deal with this via a Section 21 application for possession, normally takes three to 6 months and they just absorb these costs and move on.Under the new upcoming renters right bill S21 is abolished and you can only evict or take possession via a section 8 . This takes a lot longer and is far more expensive BUT a CCJ will then follow that tennant around until the cost in its entirety is paid . The outcome for that or any new prospective Tennant being anyone with any CCJ ( even for a parking ticket )will never get a private rental - it just becomes to much of a risk for Landlords.

Selective licensing-this will be coming to all lanlords over the next few years and it sort of something I agree with but not in the way it's being implemented , In it's current form its clearly just a money grab from cash strapped local authorities. In short it's the council just asking a few questions, are you a fit and proper person these sort of questions, upload your EPC , gas safe cert and electrical safety certificate, OK you do all that and you would expect a visit from the local housing inspector to visit the property. Oh no you pay your £1000 for that year( yes a local borough in Sussex are charging this )and you get a license, NO VISIT.

So I've tried to give people a small insight into my life as a landlordand and the impact on upcoming changes and I stand by what I say , I'm doing this to make profit , pass an appreciating asset to my kids hopefully via trust unless the polit bureau change that.

I make zero apologies for what I do so if your going to call me selfish, entitled or privileged then please dont comment. You have zero idea of how hard I've worked over 40 years to achieve this on my own terms

Cool?

 

[Bald-Eagle22]

I’ve been buying shares in IUKP… I worked it out if I had 80k of shares at the current price of 4.00 per share, I would have 20k of shares.

The last quarter of dividends payment was 4.37p per share so I would have been given £874 for the last three months. This would be tax free as the shares would be held in an ISA hence the 80k.

Obviously there’s the chance of the shares going up and down, but so can house prices.. but I don’t have to pay for maintenance and a lot cheaper management fees, there’s no option for leverage either where it comes to REITs. Just wondering how this holds out against buying or owning a buy to let of equal value?

Probably far more profit than BTL but far more risk as well . Admittedly I'm a complets ameture where indiviidual shares are concerned but I did OK out of RR and Nvidia coiming out of Covid .

By the time I purchased all three of mine there was no Osbourne tax to contend with so if you put that into your equation then my BTL with sub 3% interest rate before I paid them off were a total no brainer.

 

[OspreyO]

I’ve been buying shares in IUKP… I worked it out if I had 80k of shares at the current price of 4.00 per share, I would have 20k of shares.

The last quarter of dividends payment was 4.37p per share so I would have been given £874 for the last three months. This would be tax free as the shares would be held in an ISA hence the 80k.

Obviously there’s the chance of the shares going up and down, but so can house prices.. but I don’t have to pay for maintenance and a lot cheaper management fees, there’s no option for leverage either where it comes to REITs. Just wondering how this holds out against buying or owning a buy to let of equal value?

I've only skimmed the studies. Maybe other studies have different outcomes. But the long term studies I read suggest that shares or property do similarly in the long term with property doing better in general.

I think personally property is less risky. But rental isn't simply property it also business with cash flow. I would say the rental part of property is high risk. Problem with a tenant has the potential to negate returns on rental income. So you could argue having property you don't rent has a similar return in the long term for far less work.

 

[OspreyO]

That said the vast majority of rentals don't have issues.

 

[hurfdurf]

If there was ever a LL that deserves to get ****** over by their tenants, either by trashing the place or refusing to pay rent, it's you. Your selfishness and entitlement is astounding.

Really? The guys clearly got some issues when it comes to posting quality and conversational skills but this is a bit harsh. For all you know he’s a decent LL.

He’s just like most LL’s, absolute head in the clouds when it comes to risk and entitlement in business, and very whiny when not getting one’s way.

Cool?

lol indeed. I pointed out earlier he posts a diatribe of information nobody asked for.

You're over sharing. Some people don't get its a business. They don't want to get it. They aren't really interested in the business of it.

It's the same on other forums. Only place you can discuss business is business sites or financial sites.

Some people point out that houses should be homes first, not businesses, but that’s a much much wider governmental issue, others point out the finer details of owning properties is a big privilege, earned or not, and that it comes with it responsibly and risk. That discussion has been directly business related, as has equity chat etc.

Stop trying to be a victim.

Probably far more profit than BTL but far more risk as well . Admittedly I'm a complets ameture where indiviidual shares are concerned but I did OK out of RR and Nvidia coiming out of Covid .

By the time I purchased all three of mine there was no Osbourne tax to contend with so if you put that into your equation then my BTL with sub 3% interest rate before I paid them off were a total no brainer.

The golden era of property forever going up in value combined with low tax for LL’s is definitely over.

 

[CaptainRAVE]

The golden era of property forever going up in value combined with low tax for LL’s is definitely over.

Sucks for renters, they’ll pay the price.

 

[hurfdurf]

Sucks for renters, they’ll pay the price.

Possibly. Or the housing market will become more affordable as homes get put up for sale and those who now, even with stable average jobs, will finally be able to buy a home instead of them being hoarded by LL’s. It will be interesting to see how it works out but the market as is is not fit for purpose.

 

[slinxy]

Probably far more profit than BTL but far more risk as well . Admittedly I'm a complets ameture where indiviidual shares are concerned but I did OK out of RR and Nvidia coiming out of Covid .

By the time I purchased all three of mine there was no Osbourne tax to contend with so if you put that into your equation then my BTL with sub 3% interest rate before I paid them off were a total no brainer.

REITs are special mutral funds for commercial real estate, they hold shares in companies that buy commercial real estate, manage them and rent them out. Think of warehouses, data centers, supermakets. The housing market affects the value of them.

Just wondering if how a 80k investment in a REIT dividends compares to the profit of buying a BTL of a similar price. This is why I posted the question in here.

I think once I paid off my own mortage, I will invest much more in the REITs to the point where I could sell the shares and put a large deposit on a BTL.
That way the money is making money rather than take out a mortage and have to pay the interest rates. Of course it all depends on what the housing market is doing at that point of time.