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Hmmm. Well I took my pension money when I could as my final salary scheme went pop and also basically brought my company down as well. If you remember the talk was about people getting their money and buying Lambos. Having suffered the extortionate fees levied by our pension managers well if anyone was gonna have a Lambo with what was left of my pension (thank god for the FAS) it was gonna be me!

Didn't buy a Lambo put it into property which we had started doing when my company was struggling. We buy modernish properties which require refurbishing. New bathroom, new kitchen usually, new carpets and decorate throughout nothing fancy. We let at reasonable rent preferably to families and while most just pay monthly after referencing we have taken people with bad credit ratings who are up front about it and put  3 - 6 months rent up in advance. The vast majority of our tenants have either owned their own property and can't handle it or don't want to take on the commitment. Most are okay, some are great and some are have been b******s. We don't get close to tenants but as my wife quotes "we've fed kids, cats, done the washing up, cleaned the place and ran relationship or financial guidance sessions". We're not perfect but we try to help where we can. 

If we weren't renting places out I don't know where most of our tenants would be as they mainly couldn't or wouldn't buy and the local councils/housing associations are snowed under.

We're not all scum and neither are all tenants but its gutting when you walk into a property which was clean, well decorated and homely and its been neglected or abused and you have to start over plus the tenant lies their head off about the state of the place when they took it on despite photos to the contrary. On the other hand we've got some lovely tenants who have improved the property and look after it as if it were their own BUT it is THEIR HOME and that's how we play it. 

As for the bombardment of unsolicited letters from letting agents saying kick your tenants out and we'll get you more money - straight in the bin. The rent money obviously pays for repairs, insurance etc but the balance goes back into buying another place and providing a nice home for people who need it. If we get wiped out by a 40 ton truck one day our tenants have the security of  a couple of years before executors can sell up plus first refusal on purchasing at a good discount.

In a perfect world everyone could have whatever home they wanted no problem and England would thrash the Aussies at cricket every time.

So we're not all rogues with angels for tenants and like arborists there are good and bad examples and we usually only hear about the bad. Letting ain't easy, you hand the keys over to a stranger on something worth nigh on £170k and hope! If you would spend your life worrying about it - don't do it.

Think I might write a book about it one day but no-one would believe half of it.

 

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1 hour ago, petercb said:

Letting ain't easy, you hand the keys over to a stranger on something worth nigh on £170k and hope! If you would spend your life worrying about it - don't do it.

 

Amen. I'm thinking about getting a lodger and that's stressful enough. It's going to have to be someone I know.

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9 minutes ago, AHPP said:

Amen. I'm thinking about getting a lodger and that's stressful enough. It's going to have to be someone I know.

I can see problems. I'd have someone for a few das, maybe a week, but no longer. I think it would be a different story if you had an annex that was self contained with its own entrance.

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So, what have we decided folks? 

I'm a young guy, what should I be doing with my money? At the moment I'm mostly investing in power tools and a beer belly. 

I imagine the #1 thing to do would be buy somewhere, i.e. stop paying someone else's mortgage. 

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5 minutes ago, Stuart Picken said:

So, what have we decided folks? 

I'm a young guy, what should I be doing with my money? At the moment I'm mostly investing in power tools and a beer belly. 

I imagine the #1 thing to do would be buy somewhere, i.e. stop paying someone else's mortgage. 

Keep spending it on beer, drugs and prostitutes, worry about it later, oh, hang on...

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5 hours ago, eggsarascal said:

No they don't, traditional labour voters don't want anything like this nonsense, but let's not put facts in the way of a good on line rant.

 

Anyway, back to the best return for later in life.

Well then, why do Labour MP'S devote so much time and energy on behalf of the non contributing, (if not downright sponging),  population, including vigorously defending illegal economic migrants and dishonest asylum seekers.

I am aware their are genuine cases, but my 40 years of listening to the debates in the Commons, have caused me to form a particular opinion, in respect of Labour's espoused  values, which may be a  trifle biased, but not overmuch.

Like why did they appoint/annoint Comrade Corbyn as their leader, nevermind keeping that cognitively challenged and downright liability to Party credibility Diane Abbot in a senior position.

marcus

edited in bold italics, and still failing to properly describe the types of clearly undesirable immigrants  I mean

Edited by difflock
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There is a limit to what tax can be paid by guys washing cars for peanuts and paying a proportion of their wages back to the business owner for crappy accommodation!!!

What about the costs on the economy like translators in schools, police and hospitals etc

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Also bear in mind tax isn't necessarily a great contribution to a society. I'd rather people didn't pay any. It funds the government being cunts to people. I'd rather people made money and then spent it on stuff to sustain markets, get products available etc.

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