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I think you meant ex millionaires?
The joy of being a landlord
- Thread starter Quartz
- Start date
I think you meant ex millionaires?
The logic is that the homes under the hammer brigade seem to get on a roll of property buying and renting, they can do this because of equity gained on existing properties and borrowing against it. I have no quarrel with accidental landlords.
No they think they are millionaires and on paper can prove it.
And it assumes that property prices will increase above inflation.
A recession isn't going to make millionaires poor and poor people millionaires. If it reduces price of a house that millionaire is still going to outbid you.
How does that work out for housing associations? Actually and some hobbyists who agree a deal with the LHA who agree to supply tenants.
I don’t want anyone to go bankrupt I just want a level playing field.
A landlord versus a ftb is no contest in terms of being able to raise finance.
Exactly.
Oh dear I meant there are a lot of ‘property developers’ who would call themselves millionaires because of their portfolio and in reality are rise in rates and other costs away from bankruptcy.
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So you are saying a person claming to be a millionaire through being asset rich is not as "true" a millionaire as one who is cash rich to the same level? That probably puts a lot of farmers and land owners in the poverty bracket
No you need to think a bit moreSo you are saying a person claming to be a millionaire through being asset rich is not as "true" a millionaire as one who is cash rich to the same level? That probably puts a lot of farmers and land owners in the poverty bracket
Actually i take that back, yes, and they would be happy to agree saying the need more subsidies or a larger pension.
But I actually meant highly leveraged millionaires.
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The world is not fair. Someone with more money will be do more with it tham someone with less money. Usually.
Altuistic reasons for doing something are not a business.
From the last crash it become obvious that people who made a lot of money and lost it. Turned out to also be the same people best able to remake, recover that money. It's what they are good at.
If you are average Joe (and I include myself in this) you'll play it safe. You won't lose a lot of money. But you probably won't make a lot of money either.
Tbh if someone was so inclined they could still buy a cheap property somewhere unpopular do it up themselves and flip it. They'll already be doing this not hoping for the lottery of a recession.
Being unwilling to take responsibility or risk means no power.
Yes, exactly.
I'm sorry you had to go through that, it can't be nice
The only thing stopping me selling is, as some tenants here have mentioned here is that it's someones home, and if I sell up, what is she going to do for a similar accommodation for the price she pays?
I've just had a look on rightmove and am shocked at the going rates, it's utterly insane!
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Deleted User 298457
This you?Yes, exactly.
I'm sorry you had to go through that, it can't be nice
The only thing stopping me selling is, as some tenants here have mentioned here is that it's someones home, and if I sell up, what is she going to do for a similar accommodation for the price she pays?
I've just had a look on rightmove and am shocked at the going rates, it's utterly insane!
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So my Tenants failed to pay rent again this month 
The Letting Agency managed to finally get hold of them to find out whats going on... turns out they've split up and he's moved out
!!! Whats funny now is... he's the only one named on the agreement so she's not entitled to be in the house.
They both want to be out by October but they can't officially leave early until all their arrears are fully paid up.
If all goes well and he manages to clear his debt, we should get our house back 2 months earlier than expected meaning i can get it on the market before Christmas which would be nice.
The Letting Agency managed to finally get hold of them to find out whats going on... turns out they've split up and he's moved out
!!! Whats funny now is... he's the only one named on the agreement so she's not entitled to be in the house.They both want to be out by October but they can't officially leave early until all their arrears are fully paid up.
If all goes well and he manages to clear his debt, we should get our house back 2 months earlier than expected meaning i can get it on the market before Christmas which would be nice.
My heart bleeds. It's such an injustice when you can't turn the least well off in society into a guaranteed, hassle free income stream, isn't it.
Let's not worry about the fact that these people have stacks of debt and probably struggle to put food on the table. No, the main concern is whether the landlord is going to have to do some work, and not get that endless low-effort income they're used to.
Oh, the humanity.
Let's not worry about the fact that these people have stacks of debt and probably struggle to put food on the table. No, the main concern is whether the landlord is going to have to do some work, and not get that endless low-effort income they're used to.
Oh, the humanity.
Soldato
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lol do you take that attitude with all debts? ie if a shop keeper was complaining about shoplifting........ would be you so flippant then because the thief may have lots of debt so tough titty if the shop keeper loses some money due to theft.
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