mossdog Posted August 30, 2012 Share Posted August 30, 2012 What happens when people realise gold is actually pretty useless?Try telling that to the millions who get pleasure from wearing gold jewellery who have seen their purchase increase in value massively over the last years! Link to comment Share on other sites More sharing options...
Mecky Posted August 30, 2012 Share Posted August 30, 2012 Buy the world's biggest ever steak and kidney pudding Link to comment Share on other sites More sharing options...
Cyclone Posted August 30, 2012 Share Posted August 30, 2012 The idea of buy low and then let for a relatively high amount, or sell high, isn't unique to BTL now is it! It's a basic method of any profit making business. That attitude of questioning what you'd have me simply accept. No, that's exactly the attitude that anyone needs, otherwise they'll be taken in by a quick talking scam artist. Your advice is not wonderful, it's massively optimistic with regards to the returns and inappropriate for the OP. If I were interested in becoming a landlord I'd let my 2nd house at the moment. I'm not though, I think the money will work better for me elsewhere, so the house is on the market. Maybe you'd like to buy it, given how BTL is such an awesome opportunity? I find it bizarre that you would advise people not to "sit" on equity in their house. Owning my house outright is something I'm very happy with, it's not a fear of investment that stops me mortgaging and leveraging it, but the opposite. Owning the house outright and having no mortgage to pay makes me happy, why sacrifice that happiness and increase my risks for the sake of potential income? Did you not bother to read the thread then? I think it was on page one that I provided some information about fixed rate savings bonds, which seem to be in line with what the OP was asking. The only question they need to answer is how long they'd like to tie up the capital. What in the OPs first post suggested that they were willing to put the money at risk in an investment, rather than just looking for the best risk free return? what would be the best account to stick it in for a year ? Did you read this part of the opening post? Did you think that BTL was really clever if you need your capital back in a years time? Hopefully you won't disagree with my thought that BTL is a medium to long term investment, even if it can provide a reasonable income immediately it's not something you can jump in and out of in the space of a year. Link to comment Share on other sites More sharing options...
FACEBOOK Posted August 30, 2012 Share Posted August 30, 2012 //////////////////////// Link to comment Share on other sites More sharing options...
mossdog Posted August 30, 2012 Share Posted August 30, 2012 I agree with you, in the thread where I gave out the exact details of the 33/1 grand national winner the day before the race, nobody took me seriously, it was just a little fun as I tried to get them to believe but they were having none of it, who would have thought I was for real. And there in lies the problem and the reason I originally mentioned that incident in this thread, to highlight that when investing, solid information from trusted and reliable contacts is everything and what you "think" especially when you have no actual experience means nothing. It's not the lack of money that holds people back from making successful investments but fear due to their lack of solid information from reliable and trusted sources. You say you are not in the business of buying houses to let, and learning the "intricate" (buy low, rent out at £950 per month), details would be a waste of your time. Nobody starts out as an experienced BTL investor with a network of contacts. A first time investor can get up to speed very quickly by attending events and social gatherings with experienced landlords, estate agents and other industry people, in the areas they are considering investment. Even you could do it cyclone, although you'd have to drop that attitude a little or they'd eat you alive. Remember, nobody is going to help a whiner who thinks they know it all when they have no experience. I'm sorry that your analysis of BTL, one of the greatest investment strategies of our time, has lead you to believe that my advice isn't wonderful. My advice isn't the worst given, some people have advised spending it all, buying range rovers and blowing the whole lot on pies Does this mean that you are discounting my buy to let advice and are currently looking into the pies opportunity? Not that it matters but I don't believe for a second that the OP really has £80k to invest, they just started a thread on which anyone can post their investment thoughts. Building a BTL portfolio is one of the most solid investments anyone can make so it's very valid option and definitely worth the mention. Anyone that sits on £80k for years, whether in a bank account or equity in their house is simply suffering from the fear to invest, fear comes from the lack of knowledge and confidence in their own abilities. You build confidence by getting out there and learning "sure thing" information by networking. I'm still waiting for some pearls of investment wisdom from you? I'm sure the OP would also love to hear about other possibilities rather than just bank account interest rates which as we now know is only for the timid and a terrible long term strategy. Do you have anything to offer at all? I'm hoping to learn at least something from you but I fear this isn't going to be easy. A lot of what you say may be right from your perspective,but BTL is certainly not for the inexperienced or faint hearted. in the thirty odd years I let property out,I saw only a few landlords who made lots of money it was too hard a business for most,and if you leave the running to an agent to manage you could end up with very little indeed.So yes BTL is definately a hands on business as lots have and are about to discover. Finally I would advise anyone not to enter the property market at this present time.It is hugely overvalued and prices are being held up artificially! The fundamentals for a healthy property market are not there in this country anymore.Regardless of past dips and recoveries,this time it is more serious and the worst is yet to come.A number of big hitters I am familiar with are presently leaving quietly through the back door. Paradoxically the people I have seen make the most money out of BTL seem to be the most miserable and stressed as time goes by,as stated previously...............not for the faint hearted. Link to comment Share on other sites More sharing options...
mossdog Posted August 30, 2012 Share Posted August 30, 2012 Buy the world's biggest ever steak and kidney pudding...........what a fantastic piece of advice!!! Link to comment Share on other sites More sharing options...
FACEBOOK Posted August 30, 2012 Share Posted August 30, 2012 //////////////////////// Link to comment Share on other sites More sharing options...
FACEBOOK Posted August 30, 2012 Share Posted August 30, 2012 //////////////////////// Link to comment Share on other sites More sharing options...
FACEBOOK Posted August 30, 2012 Share Posted August 30, 2012 //////////////////////// Link to comment Share on other sites More sharing options...
Cyclone Posted August 31, 2012 Share Posted August 31, 2012 What are you going to do when doomsday hits in December? Picture this, the dust settles and it just so happens that the only habitable place left on earth is baghdad. Well, you're going to need something to barter with and a way of getting past the language barrier. One bar of gold will speak their language. So while I'm lying back in a warm hot country being fanned by exotic dancers you're going to be stuck in your bunker with nowhere to go. You do have a bunker right? if you want in on mine, that will be 2 bars of gold please. Picture this, you show them your bar of gold, they shoot you and have a bar of gold now. Link to comment Share on other sites More sharing options...
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