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Landlord sees the light and eats biscuits in bed

(20 Posts)
roneik Tue 04-Nov-14 20:40:33

This guy has 144 buy to let properties all on rightmove for sale

He also has written this book

www.amazon.co.uk/Getting-Out-Before-Crash-Property/dp/1845280474/ref=la_B0034Q8PR2_1_16/277-1296177-6598002?s=books&ie=UTF8&qid=1414317662&sr=1-16

roneik Tue 04-Nov-14 20:46:46

My dog earns 35$ an hour working from home

OOps wrong thread , grin

Somethingtodo Tue 04-Nov-14 20:54:09

Is he selling those that he has bought since the 2008 crash?.....or are they properties he didnt sell before the 2008 crash?

roneik Tue 04-Nov-14 21:00:51

don't know without research
They are following the properties over on the unmentionable site

Just a thought that suddenly some of the really big port folio holders are er well um
Wilsons in Kent 1000 properties and selling the lot

burnishedsilver Tue 04-Nov-14 21:17:49

If large investors all decide to off load their properties at once they'll flood the market and cause a crash. The guy who wrote the book will then say he predicted it when actually he had a part in causing it.

roneik Tue 04-Nov-14 21:28:55

I wondered if he was acting on his knowledge of past experience of cycles & decided this is the time to exit.
Or put in more technical terms get the @@@ out before the bailiffs and the banks get his houses and his biscuits too

The government have said today that benefits may have to become contributory only, and have even said 2017 gives time for people to prepare.
Seems this may be the only answer to the immigration issue.

PigletJohn Tue 04-Nov-14 21:29:14

Using different pen-names, I write a book every five years saying a crash is coming.

Sooner or later I get it right and everyone thinks I am clever.

roneik Tue 04-Nov-14 21:36:24

Selling his 140 odd properties seems to be more than trying to prove a point.
A lot have been reduced in price too, so he seems determined to find the exit .

If benefits are to become contributory only, then a lot of rentals will become vacant me thinks.

PigletJohn Tue 04-Nov-14 22:00:55

Inflation is generally considered to be a bad thing, so a halt to the remorseless rise in house prices will be helpful to anybody who needs a home and hasn't got one.

To anybody who needs a home, and has got one, it is pretty well neutral.

Riverland Wed 05-Nov-14 02:31:47

Why is he eating biscuits in bed? Rich tea, or digestive?

hereandtherex Wed 05-Nov-14 11:22:52

My guess on this and that tw.t Fergus is that they, like all the other post 2002 BTLers are having their mortgages called in by the banks. Its called a Margin Call. Have a read of your mortgage T+Cs - the house is not yours until the bank is paid off.

It does not take a genius to see that the majority, if not all, of the banks who were active in BTL from 2002-2010 are either bust (NR, B+B) or in a lot of trouble (pretty much all the rest via their subsidary operation - MEX, etc).

It was total insanity of giving out multiple loans, often totalling several million to an individual FFS! With bugger all deposit!!!!

Can't remember the bad bank that had all this crap shoveled into it - UKAR (B+B + NR) thank you google.

UKAR has only been going for 4 years and has probably gone through the more solvent, 'nice' debt. Now it needs to to step up and go through the crap (Fergus') and be nasty (Fergus and this bloke probably).

The other banks appear to be following a similar process - asking for their money back.

If these people stick to paying the money due they are fine but one missed payment and the banks will put them in default.

roneik Wed 05-Nov-14 12:32:46

What you describe is exactly what happened to a landlord I know , lost all eight properties . Only needs a few voids and one or two tenants from hell to sort some of these parasites out. I commend you for being well up to speed.

Sunnyshores Wed 05-Nov-14 14:49:21

Do an internet search on the author - there are many self styled property gurus with get rich quick schemes where 'investors' hand over money for properties and never see it again. This particular guy was exposed on BBC Londons Inside Out programme about 5 years ago.
www.bbc.co.uk/programmes/b00nqhs4

MrsFlorrick Wed 05-Nov-14 23:47:11

Pigletjohn gringrin

Roniek. The end of days are here. Didn't you know? Never mind a property price crash and doom for all buy to let landlords, we are all screwed.

HaveToWearHeels Thu 06-Nov-14 11:41:53

Can always rely on Piglet John grin

roneik Thu 06-Nov-14 16:08:12

Inflation my @@@

My dog now earns 55$ an hour working from a shed

Property down again this month, looks like a trend. Hence the buy to frets out in abundance again posting tripe

We solvent folks are keeping your plates spinning with low interest rates but for how long?
Then the @@@ will hit the fan and they will be on their arses

roneik Thu 06-Nov-14 16:20:45

If you ever met
A buy to fret
They are shaking with fear at all their debt
The end for them is getting near
That is why their faces are now full of fear
Young ftb families will soon in their properties be
As they type abuse on mum net for free
Those that save are waiting to get
What the buy to fret think will give them forever a big profit net
They know the end is in sight
As they they try to convince all they are right
But worry not you indebted lot
The crash is here and can be seen
Even by the propaganda the state run BBC Tory machine

roneik Thu 06-Nov-14 16:29:53

Mrs florick #The end of days of money for nothing , for the pyramid scam investors for sure grin grin grin grin

roneik Thu 06-Nov-14 20:30:37

Bump for mrs florick bless her and any pigs lurking grin

PedantMarina Thu 20-Nov-14 08:52:58

I refuse to believe PigletJohn has any time to write books, what with all the free consulting he does on Mumsnet. Just sayin'

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