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I've touched on this a little today and had my head bit off twice..There seems to lots of people coming forward with ideas and thoughts of growing a portfolio at speed.It just concerns me slightly that there some "coaches" out there pushing their ideas and selling the dream. I've been a LL for years, I believe most of all I provide a service. The property gains I have made, could I suppose, be wiped out over night with a sharp correction.
I would be really pleased to hear what peoples thoughts are for the future, from both long term LL's and new entrants ?
This is a great site and whatever stage you are at, I wish you all well
yea things has really changed with properties. It used to be a get rich quick area where even clueless people got money
the above were only for a period but many people still think it is possible and of course people make money selling the idea of the get rich quick.
Now property is long term (it has always be long term) and harder work and you have to work a little smarter and a lot more to get the reward.
I’m still upbeat on properties, but has changed strategy a bit and my strategy will most likely change again in th near future.
Not many years back it were simple to buy a place, do it up and make money, but now the margins are thinner and I have not purchased a property at auction for a whole year. Auction houses are now for everyone and that pushes up the price and I have seen properties go above the previous price it were on the market at.
Now im just waiting for people to realise the property is not for everyone so I can have my niche for myself lol
Head bit off twice in a day... That's a great recovery rate :-)
My opinion, at the risk of needing to grow a new head, is if I stay away from BTL mortgages and ASTs there is plenty of opportunity.
2019 will hopefully see my first commercial purchase and expand on my resident landlord experience. It seems incorporation has a lot to offer, but I will still consider myself an amateur landlord.
Wishing you all the best, it would be easy if we all agreed on what the best is.
My own opinion is the game has changed so much it’s moved from being an investment to business
its become a lot more serious and has to be treated as a business
the reward of capital growth in my opinion should be looked at as the cream of the business
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
I'm new to the forums, i became an "accidental" landlord after buying a house refurbing and then taking out a Let to Buy, the rental I have has been very kind so far and for the past 2 years and as i've been tempted to look into more i've been reading a LOT.I will be treading very carefully as i try and progress, but I agree with the "get rich quick" BS that's constantly touted about.I work in Design and marketing and I know the power of Youtube, blogs, etc. the only people getting rich quick are the people who sell this dream eg: the Grant Cardones of the world.
I will be approaching it in a methodical manner after doing PLENTY of good old fashioned sums and research. It's like every other business opportunity, there are gaps in the market and lucky breaks. Of course it's not like the good old days that many people in property keep saying, but this happens with all things...you can't get a bag a chips with bits for 25p anymore either : )
'you can't get a bag a chips with bits for 25p anymore either'
I like that, would you mind if I steal it?
Stewardson Developments Ltd.
Burson Land Ltd. & Jennings & Gilchreaste Ltd.
Follow me on twitter - @philstewardson
steal away. )
I’ve had 30years as a LL . The margins are getting worse, UC is creating arrears where there didn’t used to be. S20 and now licensing is the final nail in the coffin, the straw on the camels back, and other quotes like that!I am selling up and living off the capital instead.one sale price =20 years rent for me so I’m Out!