boomed

[northernladuk]

Someone buys a house? That's hardly a boomed. WGAS anyway.

Fail boom.

[_V_]

third property passed through,
Approaching million .... in debt

It's not debt, it's leveraged investment.

[quackhandle]

Someone buys a house? That's hardly a boomed. WGAS anyway.

Fail boom.

So no banana then?


Mouldy banana?




qh

[GitMaster69]

Someone buys a house? That's hardly a boomed. WGAS anyway.

Fail boom.

You’re some personality of the year northerlad

[ChimpMaster]

People are buying cars, I'm buying houses that repay themself ++++ .
Will continue buying, market dips or not providing the yield is higher than repayment. Building up passive income unlike people that buy only liabilities. But yeah, tell me how wrong I am!

And I got a good price on this one, at around 10% discount

Am guessing it's in the S.E. at those prices?

I bought at the peak in 2006 and the house lost 20% in value in the ensuing crash up to 2011. But in those 4 or 5 years I was fortunate to have a constant tenancy paying down the mortgage and providing a profit on top. The house is now worth double what it was at the trough in 2011... but it's taken 15 years.

What this does show is that property, like many investments, is a long term game.

EDIT: but I'm not buying right now!
EDIT2: having said that, house prices will probably go up next year because Covid will wane and people will start getting back to normal life.

[GitMaster69]

Am guessing it's in the S.E. at those prices?

I bought at the peak in 2006 and the house lost 20% in value in the ensuing crash up to 2011. But in those 4 or 5 years I was fortunate to have a constant tenancy paying down the mortgage and providing a profit on top. The house is now worth double what it was at the trough in 2011... but it's taken 15 years.

What this does show is that property, like many investments, is a long term game.

in reality I'm 1 property away from them being valued at £1m with debt being at about half a mil. It was a joke in the first post that I'm wealthy in debt . I will never sell a property, not with current CGT changes so don't care that much about their valuation. What matters to me is how much yield I can squeeze from the deposit and in that sense anything above interest is actually money in pocket.

[GitMaster69]

EDIT2: having said that, house prices will probably go up next year because Covid will wane and people will start getting back to normal life.

I think they will especially in airbnb-friendly areas. Just waiting for travel to start again, whilst enjoying income from holidaying locals during lockdown

[ladymuck]

You’re some personality of the year northerlad

That was some years ago though

[northernladuk]

That was some years ago though

It was.. well before you won yours... oh.. hang on.. Nerrrrrrrrrr

[ladymuck]

It was.. well before you won yours... oh.. hang on.. Nerrrrrrrrrr

Crikey, they'd really have to get past the bottom of the barrel for me to get awarded it