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Prices in south-east and London likely to fall for whole of 2019, industry survey finds
I have been doing that since 2009!
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**
I have never bought for capital growth - if it think there is more chance then I might buy one over another. But not buying and missing out on 10 years income would sicken-me, even if I ended up in negative equity (as I intend to hold forever - short term decreases are largely irrelevant)
Vanessa this is a very long time for a property enthusiast to sit out the market. Can I ask, are you finding being a web publisher is a better way to achieve your goals? Or is it an affordability problem?
Think it depends where.
London is a big place, wouldnt touch zone 2 to 4 now but central seems to have bottomed out. Worth noting thats after a 25% fall
I said long ago that the SE would have the biggest drop in uk prices
and it’s happening now and it will spread through the rest of the country
its not only the EU factor although it will have an effect the futher South you are
we have a government who dosent want price inflation so this was why s24 and stamp duty was introduced
if you take 20% of the market away ie landlords it has to have effect
on top of that stricter lending and low wage inflation and the result is clear to see
but the savvy landlord with a lot of cash could do well
I never though I would be buying again but I am
I see stagnation in house prices and I see landlords selling and I see home owner that can’t sell
if I see a yeild over 8% I will buy via my company
and I will fix for five years and go capital and repayment
in ten years I would have paid a third off my mortgage and with the capital I used to purchase the property with 25% mortgage even with out any growth I will be low levarge in 10 years
don’t be put off buying if the property is right for you
when others fear to buy opportunity come
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 wondered if you would be kind enough to give an example of 8% yield? I find the term confusing, do you include capital growth in this figure? Is it before all costs and maintenance or after? Also, what rate of interest are your company mortgages, and for how long are they fixed? Thank you.
On my patch, asking prices for 3 bed houses have gone down on average by £11.5K or 2.96% since Nov 2017 and asking prices for 2 bed houses have gone down on average £2K or 0.6% in the same time.
I've been waiting for house prices to fall for the past 7-8 years. In that time I've seen house prices in my city rise and it's got to the stage that houses are sold over the asking price for houses in areas of demand.
Would be great if I could go back a few years and buy thouse houses. I'm sure in 5,10,15 etc years i will keep saying the same but I will keep buying houses when I have big enough deposits
I`ve never met a rich person who has sat on the side watching and waiting
I know plenty of poor people though still sitting on the side watching and waiting
2010 was a classic year for sitting on the side
I recall sitting around a table with people still licking their wounds from 2007 /8
They ummed and arhed whilst I piled in and prices doubled in 7 years on some
Buy at 100K today yes it may go down to 80K but so what - in 20 years it will be 200K probably
And even say it does go down to 80K and doesnt get back to 100K for 5 years you have still won
400 cash flow pcm x 60 = 24K
Buy 4 x 24K = 96K income .
96K income in 5 years for taking action cant be bad surely
Dont sit on the side and watch the race to financial freedom
Sit in the driving seat
Jonathan Clarke. http://www.buytoletmk.com
As long as they have a good deposit and the fees
if your buying on good yeild I agree
but you need cash in your pocket the days of 100 % are over in my opinion
it’s becoming a rich mans game now
The same broad strategy applies as in the past but the entry rules and regs are tougher I agree
You dont have to be that cash rich to achieve wealth through property I believe
Its open to a significant proportion of the masses in this country who have equity in their main ressie
Many 40/50/60 year olds sit on say 250K equity in the house they live in
This has built up over the past 20/30/40 years and is sitting there silently but often not tapped into
That cash within their house can be converted into cash in their pocket to start them off
I have bare bricks and mortar in my study . I can see a 1000 bricks at a glance
One of my art deco ideas is to paint a brick as a £50 note as a visual representation of its inner worth
£50 x 1000 bricks can release that equity within . It is what started me off
Buy then a BTL @ 75% LTV and in effect get 100% LTV.
The other 25% comes from those 1000 bricks
There is no change to my study . That still remains entact and visually the same as before
The £50 notes borrowed from it will be paid back from the BTL`s one day . No rush
But for now at least those 1000 bricks are working for me not just sitting there being lazy and work shy
Any rental income after costs and fees is then pure profit
The ensuing ROI is infinite as its money from 100% borrowing
In addition any capital growth is 100% yours and not the lender
Done with care and due diligence this is still an entirely plausible strategy and route to wealth