Singing Pig

Precisely Rialto - and the value of the properties I bought before 2001 doubled in that three-year period, adding to the gains they had made prior to then. Are they going to double over the next three years? 

Well done

But so this those properties of many others who bought before then too. Difference is many of those continued to buy and continue to do so. the property boom slowed in late 2004.

Just think if youd not stopped in 2001...but bought even more! 

 

I agree that I could have made more money if I'd continued buying but to suggest that I've lost money is wrong. I will start buying property again but not until the world and his wife have left the market and confidence is at rock bottom. To get back to the original point: to give up a job with an income to do something in which you have little confidence in is barmy beyond belief - especially as everyone now agrees that the property boom is at an end.

At least you do agree you could have made more money in that period 2001 onwards (as many of us have done - despite you predicting doom on here)

Where did i suggest you actually lost money? How can you lose money in a period when you werent buying? I didnt say that.

 what i did say was that you failed to continue buying and therefore didnt capitalise on the 2001 - 2004 price boom.

Finally, even if the property boom is at an end - your implication is to stop buying. I'm sure you know Tony that this isnt strictly the case. There is lots of money to be made when you combine a stagnating market with a credit squeeze - if you know what you are doing.

How can buying at house conservatively valued at 89k for 60k with positive cashflow and a tenant who has lived there for 12 years - and wants to live there forever be considered as a potential loser - because thats what I did recently?

This opportunity was a result of the above factors. Bring them on.
 

Thanks much appreciated. Not interested in negative people and responses. Everything is hard in life and one has to persist and not give up and I am certainly not gving up and will succeed.

Cheers

Well good luck Caro and I truly hope you succeed because the price of failure is huge. You may not want to listen to negative people or responses, but you must at the very least look at the pitfalls and the economic fundamentals of the market and decide why YOU believe now is the time to buy property and why you think YOU can make money. If you don't you are destined to fail. You may not like what I say but I do have an awful lot of experience of property ownership (far more than most posters on here) and I wouldn't buy property now if you gave the money for it.

I too wish you all the best caro,but i must agree with Tony (It sounds like we have the same knowledge and experience)read my post on 'Bring Back The Good Old Days' in Buy To Let.

For every strategy to work you need to be positive,enthusiastic fight the good fight and all that although you have to be realistic also.

If you look on websites Hometrack,Land Registry to name but a few the prices that property is actually selling for dates back to prices of  at least the last two years.It's ok picking ******Thousand for a property although nothing is guaranteed until you have the money in the bank!!! 

Shark's are all around us on this website who wake up smelling the roses unfortunately they also need to smell the COFFEE!!! 

Hi Tony

Thanks for your posting. Would be great to speak with you.Any chance you can give me a call

Caroline 07973 292142