Adrian scribbled...
Are you claiming not to know about the poor sods who are living in sheds and garages across west London?
Heard of Nicholas Van Hoogstraten ?
Not at all.
Yes, thank you.
Are you suggesting that the undeniable existence of a small number of law- breaking slugs of private landlords means EVERY private landlord is a law- breaking slug?
Because, if you are, then I'd suggest to you that similar extrapolation is very unlikely to reflect well upon those whose landlord is the local authority or a housing association...
Are you suggesting that all - even a majority - of recipients of these benefits is incapable of remembering to prioritise rent ahead of beer/ cigs/Sky/?
Not to put words in to somebody else's mouth, but, Yes. Simon.
Have you really worked the figures on buy-to-let, or just wallowed in the Daily Wail?
Perhaps you would care to suggest a rental on a £250,000 house which would give a better return than investing £250,000 elsewhere?
Then point to all the areas where a house will achieve this rental.
Cheers
Dave R
So what would you advise? Taking their children into care and the workhouse for the parent(s)? Both of which cost more than paying the rent for the house.
Do you ever watch 'Homes under the hammer' and the people with 10 > 20 properties in their portfolio? If as you seem to be suggesting, it's not a viable option, why are so many doing it? Presumably they're not doing it for charity! Then there's those who improve and sell on for obscene profits in just a few weeks. Mind you, it's a huge pity people no longer seem to be prepared to move into a run-down place and do it up over time as most people used to. Now they all seem to prefer to borrow an additional £20,000 for updating before they move in. We also used to have local BSs which helped local people buy a little starter-house, now it's all about squeezing out maximum profit at every stage.
Andy C
Yes, thank you.
If you've got £250k to invest, why just invest it on one £250k properties? Why not 2 x £125k ones? Or 3 x £85k ones?
If you're in the right area, a raw 6% yield - £450pcm rent - on a choice of £85k properties is eminently feasible. Yes, there's costs on top of that. But, even so.
Care to point me to other investments which will return 5%+ income with the potential for long term capital growth on top? Fixed-term-locked-in cash accounts are currently paying about 2% depending on term.
Buggered if I know.
But one thing's for certain - insulating people from the consequences of their actions can _never_ end well.
See also: "Anyone looking for a dooer-upper?"
Just down the road from me is a house being offered for £1200 per calenda r month, or 24000 per year. Houses in this area are around the £250k rang e, so at first sight that looks like a nearly 10% return - until you deduct all the expenses - agents, maintenance, lost income in vacant periods, and so on. Those who are in the business will probably have a better idea than I, but it doesn't sound as if there will be massive profits. Go back fifteen years, and the people who went into buy-to-let then have of ten done quite well, particularly if they got out again at the right moment , because the rental income would have kept things ticking over while the r eal money came from the house price rise - do we believe this is going to h appen again?
Seriously? Wow. That's either stupidly expensive rental or stupidly cheap purchase. Or both.
Either way - sure, it won't be "10%" in your pocket, but it will be a bloody good investment.
you also need to consider the interest on the loan/mortgage taken out to buy the property.
Because my daughter gets a house with her job, their own house is rented out. (they want there to be a house to live in when they retire) They don't do much better than paying off the mortage.
and of course, Capital Gains Tax is payable on the "profit".
Not if you're comparing to the returns on investing the money elsewhere, since there's a presumption that you're not borrowing to do it, but already have it available.
Quite probably more people than you think.
true, but who happens to have the odd £250,000 lying around?
Try £14,400 per year (can't you do simple arithmetic?). That's less than
6% p.a..
It's easy to knock the DM, but even Labour have finally had to admit that they got immigration wrong, which of course has added to the housing woes. Not to mentions schools and the health services. Oh and it's not racist to want the same rules applied here as you would expect to encounter in any other country you went to. The accusation is used to silence debate and has been very successful but the reality is even beginning to dawn on the lefties.
Andy C
Very easy, since it is made up _entirely_ of rabble-rousing sensationalist over-spun guff bordering on outright lies.
Did you miss the part that the Labour party have finally ADMITTED they were wrong but anyone saying so previously has been condemned out of hand.
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