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The link to a BBC article below should be welcomed by the BTL world.It just shows how good the future is for Landlords and we will all have no voids and making a fortune
When the public look at this report what do they think ????
I think the first thought would be the Govt should build more council houses ? But the Govt so far has failed to build the houses needed
So if there is no houses what happens next ? The Govt and the Media then focus on us
We are seen as the scapegoat
What looks like good news for us can also be bad news for us
Shortage of housing is the very reason why BTL works so well Your asset will grow in value and you will have a long line of customers wanting to rent
But the shortage and the hate against us will work against us in the long term.https://www.bbc.co.uk/news/education-44413766
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.
It is horrible that other people's hardship should be good news for anyone. However, this article shows how acute the problem is and that it is Government who are causing it.This harks back to my article:What causes homelessness in the UK?
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
We should not be coy about this topic
Landlords invest in property because its a money maker
we invest in an asset which in some areas is in short supply
we invest for rental income because we no it will bring in rent rises and gives us a life style
BTL is all about making money
we are not Social Landlords just as BUPA hospitals are not the NHS
Our Business is built on fundamentals of lack of supply
If we were not into making money 99% of us would not touch BTL
I believe the lack of supply will work against us its a very political subject
I don't see a Group Like Shelter against BUPA hospitals
I don't see a your age group against BUPA Hospitals either ie Generation Rent
Because the NHS is general is supplying the need
On the Other hand I cant see the Govt Building houses
Hence we become Political Aunt Sally's
The truth of the matter is we cant win this Battle.
``BTL is all about making money``
Its sure is a significant driver I agree but its not all about the money
You can make money and have a significant social focus as well
BTL hits a variety of highs for me - some of which lose me money
Chopping down a hedge is one such high .
The freedom from a boss is another such high
Giving £10 to a tenant for fish and chips loses me money but gives me a high
Jonathan Clarke. http://www.buytoletmk.com
Sorry JC it is ALL about the money!!
I am simply NOT interested in using my capital to provide cheap rental accommodation for anyone!!
Only the very rich can afford to be philanthropic.
I aspire to become a Mr Peabody!!
``Only the very rich can afford to be philanthropic``.
Not true at all .
Anyone can be philanthropic if they choose to be
I know someone who gives 5% of their wealth away and they are only on 20K pa
Philanthropy is not tied to a wealth chart - its a state of mind
Some very rich are as tight as they come . They can afford to give away but they choose not to
You are so right
Yeah, sorry but got to agree with PB and DL here.
Think back to when you started JC and the reasons you got into BTL. I'd be certain it wasn't to provide free housing for the homeless, maybe it was to make money for yourself and your heirs in later years...........correct me if I'm wrong.
Yes getting freedom a boss means you have to make money, it doesn't come free.
Anyone giving a homeless person a tenner makes the giver feel good, they don't have to be a landlord.
Money may not be the only driver, but I'd love to hear what the other drivers are. Realistic answers only, not hypothetical stories
Nah ... The drivers for a LL/ investor are common to why we all do what we do
Why do teachers teach , nurses nurse , train drivers drive train
Money is great but self fulfilment is up there with it .
The `journey not just the destination` as people say - Yes I`m cringing too - but its true
When you have none yes I agree money is often by far the most important driver
But 1000`s of people give up highly paid jobs after say 10 years because they dont enjoy it
They take a 20% cut in wages but enjoy life more because they now follow their passion or just reduce stress
The converse of that is someone who really enjoys their job out in the field and gets paid say 50K
They then are offered promotion and 70K but that means meetings after meeting stuck in an office all day
So they turn it down as money is not their main driver
When I started it was to make money but if i could make the same money working down a sewer i wouldn't have done it
Also you grow into a role over the years and property allows you to diversify and follow different routes to suit
Different aspect of BTL or property in the wider sense appeals to different personalities
Some may love student lets and that engagement with students and some hate LHA
Some love development but may hate HMO`s
Google - What motivates people more than money ... Dozens of things . BTL is included in that
So I still maintain BTL is not all about money
I am in this game for the money 100%
I have given enough of my own time for free when I served in The Special Constabulary and a JP and in the Army Cadets
That was my way of giving something back
I don't do stuff for nothing now other than maybe give my time for free helping other Landlord's
Landlords take on the financial risk of the tenant not paying the rent or the tenant damaging the property.For any entrepreneur to take on business risk, there should be a small margin for them in it. If not, then they won't take on the risk.Unfortunately, the rogues achieve a bigger margin by letting sub-standard and non-compliant homes and these are the people that create the public image of "greedy" landlords imho. The minority give the majority a bad name.