The joy of being a landlord

[JonRGV250]

Where does luck come into it?
Did you get yours in a raffle or find it down the back of a sofa, or did you work bloody hard for it?
I really dislike that phrase.
Like when people say “he’s lucky to have that car/house/wife” or whatever.
Well probably not, maybe that person worked his guts out to get those things.
On a lighter note, I wonder if I can claim reparations from people who voted labour?

 

[fez]

Where does luck come into it?

Luck comes into it at every point pretty much. Were you lucky to be born at the right time to be able to invest in property. Were you lucky that you bought in the right area and its appreciated. Are you lucky and have good tenants. Were you lucky and got a good job that paid you enough to do this. Were you lucky that you have good health so you can work. Are you lucky that your upbringings was good. etc etc

I really dislike this idea that because you work hard you deserve things. A lot of people work bloody hard and have **** all. Our lot in life is largely based on luck. From the genetics that dictate how healthy we are to our capacity for work and the breaks we get in life. Admitting luck doesn't diminish hard work.

 

[Freakbro]

Where does luck come into it?
Did you get yours in a raffle or find it down the back of a sofa, or did you work bloody hard for it?
I really dislike that phrase.

Because a lot in life comes down to luck tbh. Like in sport, skill might get you close but luck gets you in.

As an aside, I really dislike the phrase "hard working families" or "work bloody hard for it" why not just working families, or work for it. Not everyone works hard, in fact according to the Tories we're one of the laziest work shy workforces there are. And tbh, they probably aren't that far wrong

An no, I didn't work bloody hard for it, I've never worked bloody hard tbh. I've coasted through life and still ended up with an extra property, a comfortable place to be in financially and content where I am - all off my own back, no leg up from anyone. Sure, I could have got more if I wanted, but I've never had a desire for great wealth, just an easy life. Again, a lot of that sucess has come from my own skills but also lots of luck and circumstance.

Like when people say “he’s lucky to have that car/house/wife” or whatever.
Well probably not, maybe that person worked his guts out to get those things.

Again a lot of people just work, not hard or skillfully. I totally agree with @fez, a lot of people work bloodyhard and have nothing to show for it, in fact it usually seems the more you earn the less you have to do!

On a lighter note, I wonder if I can claim reparations from people who voted labour?

As long as we can put a tax on those who voted for Brexit, which made us all poorer

 

[hurfdurf]

.
Well probably not, maybe that person worked his guts out to get those things.

And as well all know, all success requires is hard work, anyone unsuccessful simply hasn’t worked hard enough.

 

[Mercenary Keyboard Warrior]

Where does luck come into it?
Did you get yours in a raffle or find it down the back of a sofa, or did you work bloody hard for it?
I really dislike that phrase.
Like when people say “he’s lucky to have that car/house/wife” or whatever.
Well probably not, maybe that person worked his guts out to get those things.
On a lighter note, I wonder if I can claim reparations from people who voted labour?

Get in the queue, we are still working on charging the Brexit voters for the damage that event triggered, Johnson, Truss etc

 

[JonRGV250]

Luck comes into it at every point pretty much. Were you lucky to be born at the right time to be able to invest in property.

Eh? People cant invest in property now?
I’ll admit luck for not being born in Birmingham or Wales or suchlike.
That was tongue in cheek btw.

Were you lucky that you bought in the right area and its appreciated.

Surely that’s down to research and choice, but yes, some don’t have much choice.
But some people (there’s one in this thread who refuses to move to a cheaper area to be able to buy, because why should he).

Are you lucky and have good tenants.

Vetting does a good job of having good ones.

Were you lucky and got a good job that paid you enough to do this. Were you lucky that you have good health so you can work. Are you lucky that your upbringings was good. etc etc

How is getting a good job luck???
Don’t qualifications matter any more?
Just cross your fingers at interview and get £100K a year?
Health, partially luck, yes.
Eating healthy and looking after yourself also counts for something?
Upbringing kinda, but plenty have had crap upbringing and are extremely successful.

I really dislike this idea that because you work hard you deserve things.

Ok, not sure who’s said that?

A lot of people work bloody hard and have **** all. Our lot in life is largely based on luck. From the genetics that dictate how healthy we are to our capacity for work and the breaks we get in life. Admitting luck doesn't diminish hard work.

Yup

 

[JonRGV250]

Brexit

Any chance of mentioning “far right” and “global boiling” as well, I’d like to get my bingo card ticked off before the weekend.

 

[Mercenary Keyboard Warrior]

Any chance of mentioning “far right” and “global boiling” as well, I’d like to get my bingo card ticked off before the weekend.

Nope sorry I called house earlier when economically illiterate people made comments an Labour government being illiterate based on nothing, yet (potentially).

 

[fez]

Eh? People cant invest in property now?

I mean, they can but it would probably be a stupid idea because in 20 years time their house probably have appreciated even a fraction of what someone who bought 20 years ago would have. Their mortgage payments would also mean that they are at constant risk of going under.

Surely that’s down to research and choice, but yes, some don’t have much choice.
But some people (there’s one in this thread who refuses to move to a cheaper area to be able to buy, because why should he).

Another fallacy. Doing research and making what you think is a good choice doesn't mean it wasn't lucky. There will have been plenty of other people who think they did the same and it didn't work out. You cannot predict the future. Hence luck.

Vetting does a good job of having good ones.

Again, stacking the odds but fundamentally luck. Get good tenants who fall on hard times and decide to cause you problems? Can't vet for that.

How is getting a good job luck???

Right place, right time. Who else was interviewing? Who was doing the interviewing? Do they like you. How competitive was it. How has that industry changed since you decided to go into it years ago. Does it pay more or less now? How many more people have come into it since.

Don’t qualifications matter any more?

Of course they do but there are a lot of people with qualifications who don't have good jobs...

Just cross your fingers at interview and get £100K a year?

See above about getting a good job.

Health, partially luck, yes.
Eating healthy and looking after yourself also counts for something?

Of course it does but people drop dead who are fantastically fit and healthy and do all the right things and others who do the opposite live to 100. You can't change your genetics. Perhaps you get long COVID. Perhaps you get a horrible auto-immune disease. Perhaps your back gives you horrible issues.

Upbringing kinda, but plenty have had crap upbringing and are extremely successful.

And plenty of people with fantastic upbringings make nothing of themselves. That doesn't mean that your upbringing doesn't have a huge impact on your life and success.

You seem to be working from the perspective that making the "right" decisions means luck doesn't play a large part. It still does. You can stack the deck but life is all about luck.

 

[Bald-Eagle22]

Who’s butt hurt?
When my old tenant moved out I whacked the rent up considerably to cover the **** show that’s coming from our financially illiterate govt.
I said earlier in this thread that if they want to treat my rental like a cash cow then I’ll milk that cow for all I can get, and I will.

Bravo sir .

I have a feeling that the 20% allowance for mortgage interest relief will just be scrapped so no real drama . Any more than that then God knows what will happen, other than me transferring my properties over to a LTD company and avoiding paying income tax , sorry being tax efficient, and just paying corporation tax .

Oh wait isn't that going up as well ?

 

[JonRGV250]

You can stack the deck

Yup, best way imo

but life is all about luck.

Some luck, but not “all”.
We’ll have to agree to disagree.

 

[JonRGV250]

Nope sorry I called house earlier when economically illiterate people made comments an Labour government being illiterate based on nothing, yet (potentially).

To be fair our chancellor previously had her parliamentary credit card suspended for unauthorised payments and our PM thinks anyone with “assets” isn’t a working person, but hey I’m sure it’ll be fine.
Guess we’ll find out in a few days

 

[Irish_Tom]

To be fair our chancellor previously had her parliamentary credit card suspended for unauthorised payments and our PM thinks anyone with “assets” isn’t a working person, but hey I’m sure it’ll be fine.

Beth Rigby knew what she was doing when she asked that question — KS was screwed either way.

If he had agreed that people who get an additional income from assets were (or could also be) 'working people', then Labour would have been lambasted for breaking a pre-election promise not to tax 'working people'.

Now you could argue that was their own fault for being too broad when they made the election pledge, but one would hope that people were sensible enough to understand that they were referring specifically to income tax, (employees) NI, and VAT. Today's headlines clearly show that's asking too much of certain elements of the population…

 

[Mercenary Keyboard Warrior]

Beth Rigby knew what she was doing when she asked that question — KS was screwed either way.

If he had agreed that people who get an additional income from assets were (or could also be) 'working people', then Labour would have been lambasted for breaking a pre-election promise not to tax 'working people'.

Now you could argue that was their own fault for being too broad when they made the election pledge, but one would hope that people were sensible enough to understand that they were referring specifically to income tax, (employees) NI, and VAT. Today's headlines clearly show that's asking too much of certain elements of the population…

Its all a bit dumb. Its what I find so annoying that the media have created this situation, where was the equivalent spanish inquisition when we hard the last government talking about hard working people.
I mean it seems hard enough to define working, let along creating a demarcation between those who work hard and those who don't.

FWIW I would define a working person as someone who derives the majority of their income from working. Probably to avoid one off events; over say a 3 year period.

To be fair our chancellor previously had her parliamentary credit card suspended for unauthorised payments

Which is nothing to do with economic literacy.

I suspect we have differing usages for the term economic literacy.
For me, the majority would be defined that way, since for me unless you have some formal training or some pretty specific work experience your economically illiterate.
IE if you had no training in economics you would not be able to define anyone as good or bad economically as you simply would have no understanding to be able to judge.

 

[JonRGV250]

FWIW I would define a working person as someone who derives the majority of their income from working.

Yes, as would most.

Which is nothing to do with economic literacy.

Again, yes.
Hardly a good look though is it?
Then there’s that fact on her LinkedIn that she put herself down as an economist at HBOS which isn’t true.
Anyway, that’s enough from me on politics as this sort of stuff I believe belongs in SC and it’ll only get nuked.

 

[Lopéz]

Putting everything down to luck feels very defeatist and the sort of thing FoxEye would trot out at every opportunity.

Of course luck and coincidence okay a large part in any given outcome. As do specific activities designed to have things land in your favour. It's a mix, as with most things.

 

[Mr Badger]

Putting everything down to luck feels very defeatist and the sort of thing FoxEye would trot out at every opportunity.

Of course luck and coincidence okay a large part in any given outcome. As do specific activities designed to have things land in your favour. It's a mix, as with most things.

Hard work doesn't always get rewarded. In my work experience I have absolutely seen hard working people who get on with the job overlooked and underappreciated whilst some lazy BS merchant was promoted.

Clearly it's not all about luck, but perhaps another way to view it is that there is "macro" and "micro" luck. Macro luck could be shared by a lot of people, such as getting born at the right time in the right country. Micro luck could be an individual getting a recommendation for the right job, business or investment opportunity.

 

[JonRGV250]

Beth Rigby knew what she was doing when she asked that question — KS was screwed either way.

To be fair, if our PM can be outclassed by a low rate hack, then it doesn’t say much for him.
I mean, c’mon it’s Rigby, who’s arguably not an intellectual titan in her field.

 

[Lopéz]

Hard work doesn't always get rewarded. In my work experience I have absolutely seen hard working people who get on with the job overlooked and underappreciated whilst some lazy BS merchant was promoted.

Clearly it's not all about luck, but perhaps another way to view it is that there is "macro" and "micro" luck. Macro luck could be shared by a lot of people, such as getting born at the right time in the right country. Micro luck could be an individual getting a recommendation for the right job, business or investment opportunity.

But I would imagine the lazy BS merchant still had to put work into being a BS merchant. Just work of a different kind.

 

[Mr Badger]

But I would imagine the lazy BS merchant still had to put work into being a BS merchant. Just work of a different kind.

Not really dude.

Anyway, the main issue is this overly simplistic narrative that everyone who has something must have worked hard for it, and those who are without just need to work harder.