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What do you think? Borrow more debt or not?

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    #11
    Originally posted by seanraaron View Post
    Why do they want to buy at all? What's wrong with renting exactly?
    They want to say "my property portfolio investment gained 12% this month", at dinner parties, meaning they bought a house.

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      #12
      After owning a few places followed by being off the ladder for several years I have to say the appeal of home ownership is fading for me. Private landlords suck, but I'm hoping the government will eventually drive the slum lords out of the trade and leave it to heavily-regulated management companies to administer the rental stock.

      If I'm saving stacks of cash, it's not going to be to someday dream of a neighbourhood I actually want to live in, thanks.
      Last edited by seanraaron; 18 February 2016, 11:17.

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        #13
        I have debt of almost £700,000

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          #14
          Originally posted by seanraaron View Post
          After owning a few places followed by being off the ladder for several years I have to say the appeal of home ownership is fading for me. Private landlords suck, but I'm hoping the government will eventually drive the slum lords out of the trade and leave it to heavily-regulated management companies to administer the rental stock.

          If I'm saving stacks of cash, it's not going to be to try to someday dream of a neighbourhood I actually want to live in, thanks.
          You're an idiot if you think that will help anyone but Gideon's mates.

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            #15
            Originally posted by ChimpMaster View Post
            You're an idiot if you think that will help anyone but Gideon's mates.
            Better than a crap shoot of skinflints trying to play junior real estate tycoon.

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              #16
              Originally posted by ChimpMaster View Post
              I have debt of almost £700,000
              My ex sister-in-law has about £2m in BTL debt, but the property "portfolio" has nearly doubled in value so she's not done too bad by borrowing the QE money overall.

              Cheap money means easy riches.

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                #17
                Originally posted by DimPrawn View Post
                My ex sister-in-law has about £2m in BTL debt, but the property "portfolio" has nearly doubled in value so she's not done too bad by borrowing the QE money overall.

                Cheap money means easy riches.
                So she's made £2m but according to Sean she's part of the "crap shoot of skinflints trying to play junior real estate tycoon. "

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                  #18
                  Originally posted by ChimpMaster View Post
                  So she's made £2m but according to Sean she's part of the "crap shoot of skinflints trying to play junior real estate tycoon. "
                  No she's borrowed about £2m (actually includes her own mortgage on a very large house too), and since 2009, when she bought a lot of distressed properties and off-plan houses on new house estates where the developers were keen to offer big discounts, she's doubled her deposit money of about £400k.

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                    #19
                    Originally posted by seanraaron View Post
                    If I'm saving stacks of cash, it's not going to be to someday dream of a neighbourhood I actually want to live in, thanks.
                    When hyperinflation hits, in two or three years tops, people with "stacks of cash" will find it vaporised in an inflation firestorm.

                    Don't say you weren't warned!
                    Work in the public sector? Read the IR35 FAQ here

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                      #20
                      Originally posted by OwlHoot View Post
                      When hyperinflation hits, in two or three years tops, people with "stacks of cash" will find it vaporised in an inflation firestorm.

                      Don't say you weren't warned!
                      True also if deflation hits, which is the more likely scenario in the near term.

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