It is currently 29 Mar 2024, 12:25
Tusses wrote:I had 3 just before the crash .. lost about £250k
I'd do it again ... except I'm properly skint as the result !
I wasn't in a position to ride it out, and had to sell as much as poss very quickly.
9fingers wrote:Tusses wrote:I had 3 just before the crash .. lost about £250k
I'd do it again ... except I'm properly skint as the result !
I wasn't in a position to ride it out, and had to sell as much as poss very quickly.
Thanks!
What problem did the crash cause you? Negative equity and hence mortgage foreclosure or something else?
I don't plan to borrow for this venture. I feel I might have too much stock market exposure.
Cheers
Bob
Tusses wrote:
If you have cash and are planning on living a long time, I'd say look at it.
9fingers wrote:Tusses wrote:
If you have cash and are planning on living a long time, I'd say look at it.
If someone would only tell me how long I will live then all sorts of planning would be a lot easier
Bob
chataigner wrote:Interesting Bob, I've got some kick-out bonds linked to EuroStoxx50 too. Anniversary date on mine is early april, just after the proposed date for triggering Brexit - will be interesting to see what happens over 2017.
RogerS wrote:I don't envy your dilemma, Bob, although I do like your maths..is that a Ponzi scheme you have ?
20% cash + 15% P2P + 20% structured investment + 55% shares = 110%
Phil wrote:Interesting discussion.
When eldest son and DIL bought a house they sold the condo.
I gave serious thought to buying it, doing a bathroom renovation and then letting it out.
When I sat down and did a return calculation based on the investment, rental income after the agent 10%, tax on income and also providing for potential repairs and maintenance, it was better and safer to invest in one of the RSA retail bonds for 5 years at 9.75%
There was an oversupply of rental places in that area as well pushing rents down and then there were also the levies to be paid (sectional title complex).
So, I just backed out of. They sold the place within 4 weeks after placing it on the market.
RogerS wrote:Phil wrote:Interesting discussion.
When eldest son and DIL bought a house they sold the condo.
I gave serious thought to buying it, doing a bathroom renovation and then letting it out.
When I sat down and did a return calculation based on the investment, rental income after the agent 10%, tax on income and also providing for potential repairs and maintenance, it was better and safer to invest in one of the RSA retail bonds for 5 years at 9.75%
There was an oversupply of rental places in that area as well pushing rents down and then there were also the levies to be paid (sectional title complex).
So, I just backed out of. They sold the place within 4 weeks after placing it on the market.
In retrospect, did you make the right decision, do you think ?
My worst financial decision was in my very early 20's. It was just before the property boom in the early 1970's (1973 IIRC). A very good friend of mine was an articled clerk working in a solicitors above an estate agents. He told me one night in the pub how there was a new build of flats coming up on the market in Beckenham, that the market was going to explode and that I could have the pick of the flats. So I chose the penthouse at £7k. In the meantime, I was just about to start a secondment at the BBC's Training Department in Evesham. I thought that I would be staying in the onsite accommodation but was soon told that they needed all the rooms and so I'd have to rent in town. Oops...mortgage. Rent.
So I contacted the BBC HR department to ask if they would pay the rent and got back a very non-committal reply (bastards). I later found out that they would have done so. But too late. Coupled with my mother telling me "You don't want to saddle yourself with a mortgage at your age" plus the BBC response I pulled out.
My bad. My very bad. My very very bad. Three months later, the flat was sold on for £12k.
9fingers wrote:.....
.... (provided you are not forced to sell in falling market).
Bob
RogerS wrote:9fingers wrote:.....
.... (provided you are not forced to sell in falling market).
Bob
Or have the 'tenant from Hell'
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