Anyone still looking at buy to let?

[silverlight1]

just split it up into 75k chunks

got bored of chasing money

Yes agree re: chasing money - there is always a bigger house and faster car, further holiday

contracting has given me financial security and like many others have had to work had to achieve it but enjoyed it too

I will get back into BTL but think the market is unsustainable - be interesting to see if Brexit changes the dynamics.

Most of the people renting my flats have been Polish / E.europeans - if they go home the housing market may change but probably a longer term trend - these things run in 10/15 year cycles

[jamesbrown]

Bank lending is likely to have a larger impact than Brexit.

[unemployed]

Bank lending is likely to have a larger impact than Brexit.

good news then , actual cash may start being worth something when buying property.

BTL has had an unfair advantage for far too long , interest only tax refunds etc.

[lukemg]

Why UK house prices are likely to fall over the next decade

He does say London has to be considered a special case tho.

I thought the tax on turnover was messing up the BTL numbers a bit ? Stamp duty increase is taking the edge off new investments of course.

I don't know much about it, it's all in shares for me as I could not contemplate dealing with renters OR property managers. Anyone prepared to put up with the grief deserves a return in my opinion....

[Boo]

As a matter of general interest regarding BTL are there any books, magazines or online publications worth reading on the topic ?

I was thinking of selling my house in the South area and buying a couple of BTLs somewhere cheaper but I'd like to do some background research first into things suitable locations etc .

Boo

[psychocandy]

Watching the TV programme "Nightmare Tenants and Slum landlords" always puts me off BTL.

A lot of people on there seem to have problems even getting people out when they decide not to pay the rent. Getting the £5K rent owed seems impossible.

Seems to be people who play the game knowing they can do this. Move in - never pay the rent knowing it'll take months to get them out and they still won't have to pay.

Too much stress for my liking....

[MrMarkyMark]

Watching the TV programme "Nightmare Tenants and Slum landlords" always puts me off BTL.

A lot of people on there seem to have problems even getting people out when they decide not to pay the rent. Getting the £5K rent owed seems impossible.

Seems to be people who play the game knowing they can do this. Move in - never pay the rent knowing it'll take months to get them out and they still won't have to pay.

Too much stress for my liking....

Yeh, can't see why anyone bothers with it

[psychocandy]

Yeh, can't see why anyone bothers with it

Each to his own. I'm just saying it would have to be a real nice earner for me to put up with the stress and/or possible chance of losing out on 6 months rent.

Perhaps its different in different parts of the country. Got a mate who rents out a flat (Cardiff Bay which is a nicer part of S Wales). Huge service charge plus mortgage is more than the rent he is able to get for the place.

Yeh ok hopefully he will make money out of it but, as he says, its a lot of hassle.

[MrMarkyMark]

Each to his own. I'm just saying it would have to be a real nice earner for me to put up with the stress and/or possible chance of losing out on 6 months rent.

Perhaps its different in different parts of the country. Got a mate who rents out a flat (Cardiff Bay which is a nicer part of S Wales). Huge service charge plus mortgage is more than the rent he is able to get for the place.

Yeh ok hopefully he will make money out of it but, as he says, its a lot of hassle.

Your mates a total mug, then.

Sounds like he will never make money out of it, IMO.

[Hobosapien]

Got a mate who rents out a flat (Cardiff Bay which is a nicer part of S Wales). Huge service charge plus mortgage is more than the rent he is able to get for the place.

Maybe it made some kind of sense if there was guaranteed property value rises, so he's subsidising someone living in his property while he waits to cash out. In hindsight it was possible, not sure I'd want to risk it in the current climate.

I used to enjoy watching 'the beeny' (no not just for those 2 reasons ) when she told people who had spent 6 months of their lives doing up a place to sell on, that due to the current market rises they'd have made just as much or more (when factoring in the renovation costs) if they'd just left it in the state they bought it.

Maybe the govermin will fiddle things so property continues to 'rise', say by devaluing sterling. I'm sure it will all end well for those in strange financial situations that don't usually make logical sense.

So hard to know where to invest these days, everything seems to be in a bubble or at peak, just for a new peak to be found. I sometimes think red or black at the casino is a safer bet.