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💪

Absolutely not. I buy them full price.

Sorry, come again? Could you explain how exactly ‘debt is wealth’? If that was the case, wouldn’t people in lots of debt be millionaires? That’s also quite an insulting comment to make, as debt is a massive problem in this country and causes total misery.

I don't know how MNHQ is letting this stand when OP's only experience of residential property is living under a bridge. How much longer until it fills up? Can we spam the frigging thing into oblivion?

Do you live under a footbridge ? Did a little goat just “Trip trap” over the bridge?🤔🍪

Debt is not “Wealth”
Wealthy people stay that way by never going into debt.
People with debt are poor by virtue of having to borrow money.
If anyone was very wealthy, they just buy property for cash.

Three Billy 🐐 Goats Gruff are busy trotting over the footbridge as we type this.

Here is OP’s home..

No, not making any money, no profit. But everyone should invest in property.

@oakleaffy the OP is for real. (Although they have had 3 different names!!!!!)

Rich people borrow money against assets so that they have a non taxable income. So that’s what you’re doing? Borrowing money from your houses?

I mean, fair play OP. Even though we all know this thread is dafter than a brush attached to a fox called Basil - it’s continued going.

I hope you feel a sense of achievement when it closes at 1000 posts. Maybe you can come back and start another ra-ra/pom-pom thread to encourage and advise people as to how they can also achieve the giddy heights of 1000 posts!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Haha
your post illustrates perfectly why I fucking detest estate agents.
pompous twats too fucking stupid to be able to do anything else

As I mentioned before this is being discussed 'elsewhere' - latest comment.

How is this absolute bullshit being taken as genuine?

RazahFluffy · Today 21:20 inininsomnia · Today 21:18 It didn't take me much observation of the human condition to decide that I could never put it on my conscience to be either an estate agent or a landlord.

Two more noble professions you could not find, so this is nonsense.
One seeks to connect sellers of shelter with willing purchasers, the other seeks to connect shelter with an occupier.
I can barely name two more important professions in the history of mankind!
Maybe a doctor and farmer, but that's about it.

And rather like a greedy BTL landlord why just be content with one thread when you can have 2 !

www.mumsnet.com/talk/am_i_being_unreasonable/4654696-to-think-that-we-shouldnt-let-the-doom-mongers-win?page=1

MMHQ we have had a look at this thread and whilst we appreciate some posters concerns this is the best clickbaity thread on the website at the moment and our bills have to be paid. ❤

Exactly! It's a brilliant way to live.

Yes, it does seem that way. Maybe they have shares in exclamation marks too. It's all very very odd.

@Sparklingbrook

tennant had a leek from property above

But they've already given them an apparently giant leek!!

This is a goldmine

www.similarweb.com/website/mumsnet.com/#geography

Great article on why property is the best

vakilsearch.com/blog/reasons-you-should-invest-in-real-estate-property/

You are up very late, you'll be too tired to seal all those deals tomorrow.

I OP was just trying to give some advice that’s all. I don’t think the way they went about it was the best however.

So you are making a profit then aren’t you, you lemon. Except “it’s a brilliant way to live” would suggest you’re supplementing your estate agent income from the houses. But you can’t do that, because you’re paying interest only mortgages. And you’ve already said you reinvest everything back into your portfolio? So essentially you’re actually claiming you’re just taking money out against your houses to buy more houses. So you’ve got a shit tonne of “assets” that you have to liquidate to see a penny, and your entire point of this thread is that if houses prices go down you will lose money because you’re only repaying the interest. So this whole thread is just one big old “la la la I’m not listening to news of tanking economy” attempt to bury your head in the sand. (And I don’t GAF if your vendors are all excited to buy houses, of course they are you numpty, doesn’t mean the market isn’t going to slooooooow. This stuff doesn’t happen overnight and if you’d been an EA for 23 years you would know that.)

You are indeed either a troll or a complete numpty. Thanks for coming to my TED talk.

It is an article from an Indian website. Obviously there are key differences between investing in Indian property and investing in UK property. He mentions that mortgage interest isn't taxed. That isn't true in the UK, you are taxed on your mortgage interest. Furthermore, investing in property in a developing economy with extremely buoyant economic growth is very different from investing in the UK. The Indian economy is growing by leaps and bounds, new millionaires are made everyday; obviously property will go up because of this emerging middle class. On the other hand, the UK has a declining middle class. A lot of our property purchases are fueled by cheap debt which is ending. You are telling the average mumsnetter to invest in property. The average mumsnetter cannot afford the kind of property that the ultra rich from India or China would be interested in purchasing - the £220 million apartment block/megahouse that is currently being sold by the founder of evergrande comes to mind. Those properties would probably go up in the long term as the rich get richer. But the average suburban semi detached in an era of high interest rates and economic stagnation. The FT has projected that the average Slovenian family would be richer than the average UK family by 2024 and the average polish family would be richer than the average UK family by the late 2020s. without cheap debt, who is going to buy all the suburban semi detached houses in all the towns outside major cities at inflated prices...

Put down the crack pipe and step away from the keyboard. If you're genuinely an estate agent then it just shows how deluded people in that trade can be. You keep talking the market up in the hope that you can prevent the correction.

It doesn't matter what YOU can afford. It matters what everyone else can. Especially first time buyers who prop up the entire property ladder. Right now, only an idiot would be getting on the bottom of that ladder.

I don't know where you are in the country that you think houses are too cheap? Round here prices have been flatlining since May/June. Agreed sales from months ago have been falling through, properties then relisted at lower prices. I expect when completions and the subsequent stats catch up, it will be evident that that prices have been falling for a couple of months or more.

My neighbour's put their house up for sale the day before kamikwasi's mini budget announcement. For £400k. I don't think it was worth more than £325k at the summer peak. Now it's probably less than 300. Assuming their estate agent advised them to market it at that price, he's as deluded as the OP.

Good lord you are horrid OP.

@RazahFluffy I am obviously not as wise at investing as you, but why would I want to invest in property if it does not make a profit?