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💪

I really apologise as I misread your original post! I thought there were three sisters including you.

Ok, if it's the 4 of you it doesn't work quite as well, but I'd probably do something like 6 months at a time at your parents house for two of you, and swap after 6 months. Still very doable.

Property wont be going up in value after this crash, global credit conditions have changed completely, the money printing/zero rates that blew this bubble wont be coming back, don`t people on here understand that?

Has a response from Kim at @mnhq saying she thinks its genuine. Reported again to save her embarassment.

MNHQ genuinely think there is someone this stupid.

Ok....

i think the OP is genuine. I have met people like that. i always fall into the trap of trying to persuade them otherwise and get pitying glances in return.

i met people like that. its painful

Me too. I'm standing by my theory that she's financially fucked and desperate.

Parent's home is 200miles away, so you are saying we each only work for 1/2 a year @RazahFluffy.

Do you employee people? Would you be happy if for half a year they couldn't work for you?

I must live in a sheltered bubble.

Again my fault! If there are 9 of you, I'm definitely not suggesting buying the place to live in. Consider it an investment property shared between the family.

You could probably avoid a mortgage altogether (let's say 20k each, buy a cheap 180k studio flat).

Then airbnb it - let's say a £100 per night. At full annual occupancy, that would be £36500 gross, minus say 6.5k costs p/a to keep the maths easy. So 30k split 9 ways, which would be very tax efficient at £3333.33 each!

If you think about it that's a far better than cash in the bank - it's a 16.666% p/a yield each on the initial investment - beating bonds, the stock market - everything!

Proving once again that property is the best investment, and that yes - when I read properly I can do maths because I did all that without a calculator! And a cheeky £100 extra for leap years!

"Keeps banging on about 'the market, the market'. Trussonomics in an MN-friendly format.
Also, estate agent and landlord of multiple properties? Nah. Too much goad."

Being discussed elsewhere with somewhat fruitier language.

@RazahFluffy you seem to be confused. We are talking about buying a home to live in, that is after all what homes are for.

How incredibly generous of you to "let your tenants have your houses as their home"
That's what they pay you for. How many houses do two people need.

I don't know - I can't do everything for you! But there are jobs like IT contracting that allow 6 months at a time, or even the gig economy which allows you to work wherever you are located.

"It’s absolutely vile. It’s the ‘don’t worry, you will get there!’ thing. Makes me sick. With one breath it’s ‘house prices are supposed to go up so there isn’t a problem’ and with the next it’s ‘definitely everyone can buy a house if they just try harder’. Both can’t be true."

@RazahFluffy for the 6months I am not working each year in your scheme, how are you expecting me to pay the costs of the mortgage?

MNHQ are loving the traffic this thread is getting. They're determined to leave it up so it makes me wonder if they’re possibly behind it to boost their own page impressions for revenue reasons.

It's really exasperating because people don't seem to want to be helped, but OK, think bigger!

20k down once each and, keep doing it! You're already getting £3.333k each per year, save it, and get on with it. Also save some of the income from your main job.

If you want to speed it up, use leverage. Next time, just put down 38k when you've all clubbed it together, and get a mortgage on it and start paying those off.

Eventually you'll have 9 owned outright houses between you, and then you stop the airbnb and have one each.

Honestly, it's not difficult.

🍕

Work 6 months in one location and 6 months in the other! Honestly - it's ridiculous I'm having to explain every part of the strategy. There is no helping some people.

🐐

👹

Am so tempted to fill the thread up with slices of 🍕

How did you manage to purchase your first property @RazahFluffy? Did you parents assist you? Or did you save up entirely yourself? How much was it? How much did you put done initially? Can you share some of your own property ‘journey’ with us?