Putting offer in on a property

[Antone 10]

If I needed to release equity in my own home to take advantage of an opportunity then of course I would do it if that was the only way. Thankfully I don't have to so I don't. I AM a savvy investor, that much is abundantly clear. And what do real savvy investors do, they certainly don't use their own money. Come on now, at least sound like you're at my level if you're going to attack me.

"I'll never do X . . . except when" Your statements are mostly meaningless. I'll leave you to it. You are not clearly anything, other than a bloke on a forum enjoying winding people up.

[marcd 10]

On Topic

 

We bought in S11 last year, our offer was almost accepted a year ago to the day.

 

The house needed some aesthetic work but mostly was fine and I guess this put off a lot of potential buyers. At the time we got it for under the asking price.

 

However a lot has changed since then. I have been following the market closely and it is safe to say that everything in our area is being snapped up within 2 weeks to a month. They are going for well over asking price, one house down the road from ours went for 10k over.

 

The market is a little crazy in these areas. My mum always said, buy the worst house in the best street that you can afford. It's decent advice if you don't mind living in a construction zone.

 

I have seen a few houses that look worse for wear with doors or windows boarded. Potentially there is a bargain to be had and if you were that keen you could try and contact the owners and do away with the agents.

[Cyclone 10]

Yes, the need and desire to get richer!

 

Borrowing more to buy a more expensive house makes you more in debt, not richer.

 

In that comment I wasn't talking about money secured on a house, or secured on anything for that matter.

You were talking about released equity, which is by definition secured against your home.

 

I've definitely won this thread. This thread is mine. I'm running around the arena waving at the crowd who are cheering.

 

Is that how you really see it?

[truman 10]

I've definitely won this thread. This thread is mine. I'm running around the arena waving at the crowd who are cheering.

 

No, really they're laughing at you....

[Coutts 10]

You were talking about released equity, which is by definition secured against your home.

 

No I wasn't Cyclone. When I said "And what do real savvy investors do, they certainly don't use their own money." I wasn't referring to bank financing or equity release of any sort. Please try to keep up.

 

Is that how you really see it?

 

Yes, I won, felt the glory, enjoyed the adulation then went home for lunch. Now that the battle is over, lets try and keep on topic as I'm sure you will be able to learn more if you open your mind a bit.

 

---------- Post added 30-05-2014 at 15:45 ----------

 

No, really they're laughing at you....

 

No, it was definitely cheering.

[poppet2 13]

 

Yes, I won, felt the glory, enjoyed the adulation then went home for lunch.

 

You have time for lunch, and go home for it!

Out of interest, what exactly do you do?

[truman 10]

You have time for lunch, and go home for it!

Out of interest, what exactly do you do?

 

Helps Walter Mitty out?

[Coutts 10]

You have time for lunch, and go home for it!

Out of interest, what exactly do you do?

 

I work in a box factory. Why, what's my job got to do with it?

[Jeffrey Shaw 93]

Back on topic, please.

[Cyclone 10]

Dear God give me strength.

 

Just referring back to this for a moment. Can you explain how house price inflation benefits anyone who doesn't own more than one house?

And if it does, why are the BoE so keen on keeping it in control (and why did it cause a massive economic crash recently)?

[Coutts 10]

Can you explain how house price inflation benefits anyone who doesn't own more than one house? And if it does, why are the BoE so keen on keeping it in control (and why did it cause a massive economic crash recently?

 

I'm honestly trying to understand your point of view. Are you saying that when your houses go up significantly in value Cyclone, it won't do anything for you? Will it just be another day in Can't-be-donestown?

[Cyclone 10]

I happen to own more than one, so I will personally benefit.

The vast majority won't benefit at all, in fact, they will be harmed.

 

You can see the very simple maths I laid out in the example. Explain to me how in that example the increase in value is a good thing.