Getting into buy to let property business

[estebanrey]

An analogy is quite plainly a similarity on which a comparison is based. You might think renting property out is sufficiently similar to crack cocaine dealing to be worthy of comparison.

I shall beg to differ.

But you are misrepresenting what I've said.

I did not compare being a landlord to being a crack dealer, I questioned the logic of the argument that an abundance of BTLers is good for the economy (compared to the situation where most people could afford their own home) on the basis that the money they make goes back into the economy in the form of VAT from what they spend it on.

Following the logic of this argument you COULD ALSO argue that a crack dealer's profits are fine because he'll end up putting it back into the economy by buying things too.

I was pointing out a flaw with holding that logical argument, not comparing the morality levels between BTLing and dealing class A drugs as you've clearly inferred.

 

[Collider]

But you are misrepresenting what I've said.

I did not compare being a landlord to being a crack dealer, I questioned the logic of the argument that an abundance of BTLers is good for the economy (compared to the situation where most people could afford their own home) on the basis that the money they make goes back into the economy in the form of VAT from what they spend it on.

Following the logic of this argument you COULD ALSO argue that a crack dealer's profits are fine because he'll end up putting it back into the economy by buying things too.

I was pointing out a flaw with holding that logical argument, not comparing the morality levels between BTLing and dealing class A drugs as you've clearly inferred.

That is a fallacious argument.

You are clearly drawing an inference between someone letting out property and putting money into the economy (a legal activity) and someone committing a crime (an illegal activity) and making them equivalent in order to make letting property and any argument made to do so look like a criminal act / equivalent of a criminal act. You are also suggesting it is not valid for people who are doing this legal activity to make an argument that generating money is a positive thing. Generating money (legally) is not embarrassing, wrong or illegal, in this country anyway.

If you honestly believe it is a logical argument that is fine but really I think you did it for the purposes of drama and to get a reaction as if its somehow the equivalent of killing people with drugs to rent a house out. It clearly is not and drawing that sort of comparison undermines the parts of your argument that might otherwise have some validity.

 

[MatteH Oxford]

Buy to let doesn't generate money in an economy, it just transfers the renter's money (who generally had to have a real job to earn it, or even worse is on housing benefit - i.e. others peoples' tax!) into the landlord's pocket.

Compare it to someone starting a business that makes products from raw materials, making real profits & generating genuine wealth & new jobs.

The Government should tax the **** out of BTL.

 

[Tesla]

This thread has been a real eye opener. I never realised that the general consensus is that owning a home is a right, a right that should be easily accessible.

If you want something then get off your ass and work for it. Britain is full of opportunity and prosperity.

Alternatively, you could moan about it and achieve nothing.

 

[beefybarn]

This thread has been a real eye opener. I never realised that the general consensus is that owning a home is a right, a right that should be easily accessible.

If you want something then get off your ass and work for it. Britain is full of opportunity and prosperity.

Alternatively, you could moan about it and achieve nothing.

Agree with you totally.

 

[Orcish-Horde]

Buy to let doesn't generate money in an economy, it just transfers the renter's money (who generally had to have a real job to earn it, or even worse is on housing benefit - i.e. others peoples' tax!) into the landlord's pocket.

Compare it to someone starting a business that makes products from raw materials, making real profits & generating genuine wealth & new jobs.

The Government should tax the **** out of BTL.

BTL could be compared to Tesco and the High Street.

 

[Collider]

Buy to let doesn't generate money in an economy, it just transfers the renter's money (who generally had to have a real job to earn it, or even worse is on housing benefit - i.e. others peoples' tax!) into the landlord's pocket.

Compare it to someone starting a business that makes products from raw materials, making real profits & generating genuine wealth & new jobs.

The Government should tax the **** out of BTL.

I think there are some really deluded ideas in this thread..both myself and my other half have full time (and indeed, well paid) jobs and also happen to let out a couple of properties. We work really hard for our money and the people we rent to also have real jobs. I cannot see what is being harmed here and to be honest I think people want something for nothing. I agree with the posters above who say get sorted and make the money yourself and stop whining at other people for doing it.

We provide a couple of houses to people who, for whatever reason, can't or don't want to buy one. A useful use of property that we will in the end dispose of. No one is getting killed by this and the economy is not being harmed, really who are some people here, relatives of Proudhon?

 

[Things change I've changed]

This thread has been a real eye opener. I never realised that the general consensus is that owning a home is a right, a right that should be easily accessible.

If you want something then get off your ass and work for it. Britain is full of opportunity and prosperity.

Alternatively, you could moan about it and achieve nothing.

I think a secure roof over your head should be a basic human right, poverty and lack of basic amenities shouldn't be the driving force to work and bolster the economy, it's the wrong way around imo, right wingers are so scared that if people could obtain these things easily then nobody would want to work again, that's ridiculous, I actually believe the opposite, I think the industry and the economy would actually benefit if there was more social housing and/or stricter private rental legislation like in Germany due to people in general having a better standard of living, more secure, cheaper tenancies, and more disposable income being injected into the economy, boosting industries, allowing more people to work, and more people could afford to work less hours.

I believe in a happier, cheaper, more secure society with a job for everyone, less hours with more work shared between more people with more free time to actually enjoy your life with your family before you get old.

A lot of people forget how important moral maintenance is in society and atm it's at an all time low, people are tired of working all their lives to gain some security and then end up being too old to enjoy it and at deaths door, we need to radically change how things are done, we need to change our motivations for work instead of fear of poverty being a proverbial whip always behind us, forcing many in society into life long jobs they hate, don't be scared of change, I do not need a whip behind me to get me work.

 

[Tesla]

I completely agree that a secure roof is a human right. Nobody should live on the streets, let alone in a country as developed as ours. My above post was in reply to the previous posts regarding home ownership.

Perhaps I've misunderstood why you quoted me?

My point was more along the lines of instead of trying to change everybody else/the system. Just change yourself. It's much easier!

 

[Collider]

I think the industry and the economy would actually benefit if there was more social housing and/or stricter private rental legislation like in Germany

I agree, I think much tighter regulation and higher standards as found in Germany would benefit everyone, tenants, landlords who want to be taken seriously and the economy. I wish we had the German system in the UK.

I don't believe in a mad market where people are taken advantage of, neither however do I think it is somehow criminal to let property out which has been implied or actually said in some other posts in this thread.

 

[cm1179]

I think a secure roof over your head should be a basic human right

as i said a few pages ago. manage your money wisely from your mid teen's and you can have a property by 30. how do you think most people do it?