to think all this nonsense about house prices being too high is just that - Nonsense!

[RazahFluffy]

DH and I have long been in the property game. We actually met whilst working as Estate Agents back in 1999!

I've seen a lot in my time as an agent - 2008/2009 were a bit of a blip, but overall, there's one thing I've always had faith in, and that's bricks and mortar and that prices always go up. They aren't making more land after all 😁

As well as working in property, we've got a few of our own. We started off as accidental landlords after we got together and kept both our homes to rent out when we decided it was time to move in together and find a place of our own. Over time we've added a few more to the portfolio.

We are lovely landlords. We let our tenants have our houses as their homes, and we like to do little things like send them Christmas hampers, and know their birthdays so we can send a card and usually a Pizza Express voucher.

Anyway, there's a lot of rubbish being written recently about interest rates and the economy affecting the market. Nothing could be further from the truth where we are!

It's still buoyant and the buyers registering at the agency are no different to usual - excited to either 'get on the ladder' or move to their next step towards their eventual forever home😊Vendors are still confident. They agree with us that houses are actually a bit too cheap, all things considered because inflation is quite high.

The one thing I'd have to say is if you can't afford a mortgage at the moment - think about your expectations. You might have thought previously that you could afford a 4 bed, but if you can only get a 3 bed for now is that really so bad? First time buyers especially I feel need to be realistic!

Property always goes up and it's no different now. We're really confident and having seen it all in this game, we really think it's time to believe in the market💪

OP is a troll, and a mean one at that.

Looking forward to your post being deleted OP. You’re seriously deluded and no amount of ‘let’s be positive’ is going to take away from the utter shitshow caused by this government. As for your Pizza Express vouchers and Christmas hampers, I’m sure your tenants would prefer the money was spent reducing their rents. What a tool you are.

@Sparklingbrook I wonder if they have to line up with their caps doffed to receive the annual munificence from their all caring LL?

You don't mention a turkey at Christmas OP, plus plum pudding for your higher paying tenants.

I would be slightly disappointed if OP didn't put on a Santa outfit to distribute the goodies TBH.
Santa doesn't exist, so has something in common with the OP after all.

Hi all,
Thanks to those who reported concerns about this thread. We can never say 100% but having looked into the background we don't really have any overweening concerns regarding this poster's credentials. Of course, the thread itself may not be to everyone's taste (in fact looking at reports we can say it most definitely is not) but perhaps in that case the thing to do in this instance is hide it?

If this is all real, it's very goady and seems designed to wind everyone up.

You make the money off the increase in value of the house, as you say it always goes up. I work in tax and so do tax returns for a few people that have rental properties. By the time you take the mortgage payments and other expenses off most generally don’t have any surplus cash from the rental income so they aren’t making anything on a monthly basis. Where they do gain is that after 25 years or whatever mortgage term is they then have a house worth several hundred thousand paid for by someone else that they can either sell or continue to rent out without having the cost of a mortgage anymore.

I have had a word with the grammar police and they need some of their exclamation marks back.

Of you course you want us all to have confidence in a market you are heavily invested in!

DH investment company has a property dept. They are very worried.

You sound like a complete moron. We bought our first house in the early nineties on 3x salary and it was very affordable and we were just in normal jobs. There’s no way my children can do that and they are in similar level jobs and age, house prices are completely out of their reach.

I loathe people like you, smug and ignorant.

This isn't genuine. This is a ridiculous pastiche of what somebody believes an estate agent or landlord might say.

This has got to be a wind up? Honestly you are part of the problem owning so many properties. I can’t stand selfish, out of touch people.

HNRTT but look forward to similar from other friends of Liz about teaching, NHS, banking, exporting, childcare...

Only two comments is that the OP with their industry experience might realise geographical markets differ and that if a blip in 2008 is the extent of their experience then they might want to look at a little more history where negative equity affected people's lives.

Just means it's not a pbp

Agreed. Can't believe this is real. Obnoxious

This surely has to be a wind- up.

Good landlords I know would never brag or label themselves as “ Good” .

You don’t come across well, OP
Condescending and boastful.

FW|IW, no better place to put your money than in property, OP? I think my acquaintances in the CIty disagree with you.

@Flapjacker48 you’re confusing owning an investment with running a business. You’re also being very rude by pointing the judgy finger at me for being a nasty LL but you knew that. In fact I have no rental property at all, I used to, but that just means I understand the market. Don’t let that get in your way though.

FYI There is no tax relief on a house as an asset, other than the same CGT allowance that you have for all other investments.

However, generally speaking for all other businesses you get tax relief on revenue expenditure, INCLUDING on the interest paid on business loans (not the capital).

Owning a rental house requires you to meet certain regulations and obligations (and the cost of providing them) just like any other business.

Removing tax relief on mortgage interest was a stupid short sighted political move made in a low interest rate environment. There was only ever one way that interest rates could go and the only natural consequence of that was rents going up that can’t be offset. It was a massive OG imho.

Personally I think there should be CGT on every house, including primary residence but that’s for another thread.

I think OP’s surname is P. Rachman.
😂

Please please go away and never come back again. I cannot emphasise this enough.

Patronising much?

Proof that however shit things get someone always does well out of it.

I didn’t read all of your posts properly op. I see you read up about MIRAS. However it is the withdrawal of double MIRAS for married couples, which caused the MIRAS issue. MIRAS was removed in about 2000. My point still stands about affordability and that we are on the trajectory to be paying as much in percentage terms of income as people were in the spike of the late 80s/early 90s.

As for this gem, London is the money laundering capital of the world. It sounds like you think this is a good thing and more of it please.

Very goady thread. Is it for real?!

@Morph22010

Where they do gain is that after 25 years or whatever mortgage term is they then have a house worth several hundred thousand paid for by someone else that they can either sell or continue to rent out without having the cost of a mortgage anymore

Just in relation to my post above, this is the same as any business whereby the capital they used to start the business is paid off over time, effectively providing an asset that they can either go on to sell, expand or continue to operate through at a lower cost.