House Price Crash Idiot Attacks Again

Low and behold, another House Price Crash idiot tries to please the mob on the forums by tossing a banana into the circle.

This particular idiot put together an inaccurately sculptured story of my landlord life. It seemed to have gone down a threat; the crowd blissfully cheered. I guess when a monkey farts the colony claps- it’s the noise, you see, it’s funny. It’s funny.

It’s pretty apparent when someone from over at HPC has linked to my site on the forums because there’s a huge spike in my traffic trends and I get a lot of “You’re a cunt” comments in my inbox. Lovely.

I have no problems with the “fight-talk”, I just wish it was accurate. This time they focus on my Reasons Why I Hate My Tenant article.

You can see the full thread here (the thread has been removed. Shame.). But for ease, here’s the cornerstone of the guy’s attack- the cleverly composed “summary”.

This site might be a spoof, I don’t think anyone could be such a retard and be so at pains to advertise the fact.

In summary

24 Year Old LL
Mortgage with NR taken in March 2007
1 BTL house
2 tenants,
1st evicted due to non payment and shitting on carpet

Ironically, the summary was barely accurate. I think he scored 2/5. Unfortunately, you only get an E, son.

24 Year Old LL- true
Mortgage with NR taken in March 2007- true
1 BTL house- wrong. I have 3 (and counting)
2 tenants- Wrong. I’ve had more tenants over time.
1st evicted due to non payment and shitting on carpet- Wrong. My tenant never shitted on the carpet. It’s just a shame the first 20 comments in the forum thread consisted of people making a joke over a metaphor.

This is what I actually wrote:

7: Unable to take blame
Even a 2yr child has the ability to know that shitting on the carpet is wrong. If a child knows wrong from wrong, I wonder why my 28yr old tenant struggled so much.

The shitting on the carpet statement was just a metaphor. As in, if a 2yr old child knows wrong from wrong, then certainly a 28yr old is more than capable of knowing what’s wrong.

He also highlights an old article, Shit, I Have A Mortgage With Northern Rock!!!!. The article was based on the time when NR were going into administration, and it was unclear at the time what it meant for borrowers. What the thread author clearly fails to realise is that if you go sniffing for shit, you’re most likely going to stumble upon shit. In true ‘The Sun’ reporting style, he got none of the facts, and all of the shit.

Just to clarify, getting that NR mortgage was probably the best move I ever made. I came off the fixed rate in December 2008, meaning I reaped all the benefits of the 2.5% base rate reduction. Why wasn’t that highlighted in the article (I made a few blog post about it)…? Your guess is as good as mine.

What’s most humourous is that the guy thinks this site is a spoof because he gathers half the facts, consciously looks for the negatives, ignores the positives, and then in disbelief concludes that this can’t be real. Look, mate, here’s a banana…go lay on your back and scratch your ass while you ponder on what’s actually gone wrong here…

Yes, I highlight the downs, but I also highlight the UPS. What’s the point of having a blog if I talk about the UPS only? The problem is, YOU IGNORED THE UPS, you retard.

My guess is that you didn’t even want to find the positives, you just wanted to find as much “negative” information as possible to help craft the most crowd-pleasing thread over at your anti-property-investment forum, so you could get a pat on the ass for good work. Excellent.

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25 Comments- Join The Conversation...

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Daffyd 30th December, 2008 @ 18:12

Hahaha. Don't let them get you down, buddy. There'll be plenty of time to be depressed when you go bankrupt. Now is the time to enjoy life!

Good luck.

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The Landlord Avatar
The Landlord 30th December, 2008 @ 18:34

You think bitter, old people that know extremely little about my awesome situation gets me down? Oh.

I do enjoy life.

I doubt you're genuine about the luck, but thanks anyways.

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lorraine WIlliams 30th December, 2008 @ 18:58

Extremely entertaining.

That guy didnt really do his homework which made him look lousy lol. I just browsed through the forums and noticed it's full of very bitter people. Its pretty sad to think that grown ups can be so bitter and aggressive over something so sincere.

Perhaps if people like that aimed all their anger towards worthwhile causes, instead of people trying to make money from BTL, the world would be a better place

Lorraine.

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Kris 30th December, 2008 @ 19:06

heh I dont get the mentality behind that mob. Do they want landlords to go under? If so, why? I don't want anyone to suffer financially. I dont get it lol

its almost as if they percieve house buyers as criminals. i dont understand why, but i know thats a good thing. I dont want to be so bitter and twisted thats for sure.

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Serena Goode 30th December, 2008 @ 21:03

I'd summarise the issue thus.

Idiot bankers in combination with those recent BTLers who think landlording is a free ride to being a millionaire have been responsible for a massive property bubble which was the main driving cause of the credit bubble. Which is now bursting with horrific effect around the world.

So someone like the rather unpleasant blogger here boasting about how much he hates his tenants is a pretty good representative of the kind of vile self-interested idiots who have done a great deal of damage to this country and its economy and still don't recognise that they are a huge part of the problem.

Capisce?

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The Landlord Avatar
The Landlord 30th December, 2008 @ 21:16

See, that just shows how little you know. You don't even know me or my situation, and you're acting like you do.

You're so stupid that you can't even see past your own ignorance. Not EVERY Landlord is responsible for the current climate. Granted, a lot of landlords saw money signs and made stupid investments (with 100% mortgages). I didn't, so spare me.

I don't think Landlording is a free ride. That's why I purchased with a minimum of 25% deposit for EACH property I purchased. I took into consideration a potential downfall. I worked hard, saved, and invested my money.

I don't hate my tenants at all. I hated ONE tenant because she commited benefit fraud and was a passive liar. I didn't hate her as just a tenant, but as a person. She intentionally wanted to get evicted so she could climb higher up the council housing list. If you want to like that kind of person, then that's your problem. Recognise the difference between a singular and a plural- there's a massive difference.

I'm a Landlord that made a bitchy blog post about a "vile" tenant. It doesn't make me a bad Landlord, nor a bad person, nor someone responsible for the current climate.

Capisce?

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Kris 30th December, 2008 @ 21:23

You 2 arguing seems pointless. I don't particular care for either side, but I'd have to agree with the p-amatuer.

you seem awfully ignorant and bitter Serena. Theres no point blaming people without really knowing the facts, which you clearly dont. You just come across as an insane individual thats so angry that you're lookin to point finger and blame anyone that gets in your way.

hope you guys have a new year and patch things up :)

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Serena Goode 30th December, 2008 @ 21:48

Here's a quote from PA:

"I continue to indugle myself in other property related projects, with the ultimate aim of increasing my portfolio until I’m a property millionaire."

I haven't made any assumptions about you other than that you are aiming to make yourself " a property millionaire". The exact mechanics of your plan and whether you are one of the more or less stupid breed of recent property investors doesn't bother me too much.

Spelling aside, the people who thought property was a free ride to riches really are collectively responsible for some serious problems. I'll tone down the aggressive tone but there is a serious point here. Property investors and foolish lending by banks fuelled the credit bubble and the sub-prime crisis which led to the current crash which is affecting the whole country. I don't think it's a great time to be boasting of moneymaking property investment schemes.

I'm also reacting to PA saying he wanted to "skull fuck (his tenant) with a blunt, rusty axe." That is a pretty vile thing to say about anyone. I understand that he was letting off steam about an irritating business problem, but I think it was beyond the pale to be honest.

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The Landlord Avatar
The Landlord 30th December, 2008 @ 21:51

What's ironic (and disgustingly pathetic) about all this is that Serena is up to her eyeballs in debt, and has serious financial difficulties. Yet, she's here preaching about how we (landlords) fucked up.

Classic.

Sadly, your assumptions about me were based on generalisations, Serena. Your problem, on the other hand, is very real and specific to you :(

But on a genuine note, I'm glad you have faced your financial problems and are currently dealing with it. Next you should consider dealing with your rather wild pyschotic streak.

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The Landlord Avatar
The Landlord 30th December, 2008 @ 21:56

"Property investors and foolish lending by banks fuelled the credit bubble and the sub-prime crisis which led to the current crash which is affecting the whole country."

I've made several posts about how that was an issue, and that's been my opinion all along. But unlike you, I judge people on individual merit, and not just carelessly blame anyone.

A lot of homebuyers, in general, have fucked things up.

In conclusion, you don't really have anything on me, you just stereotyped me. Thanks!

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Serena Goode 30th December, 2008 @ 22:44

Funny. Take two quotes:

"In conclusion, you don’t really have anything on me, you just stereotyped me."

So stereotyping and making assumptions is bad...

"Serena is up to her eyeballs in debt, and has serious financial difficulties."

Oops.

I don't really need to say anything, I'll just let you keep talking.

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Super Ted 30th December, 2008 @ 23:12

It is actually very nice to see my assumptions about landlords being proven correct by the vile parasite that runs this blog.
.
Carry on young man it will remove any shred of remorse when I buy a house repossesed from you or another of your pathetic kind. I will try not to trip on you in the doorway.
.
And yes I DO want fries with that.
.
ST

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The Landlord Avatar
The Landlord 31st December, 2008 @ 00:45

@Serena:
LOL, so you didn't manage to capture my sarcasm then? Thanks for proving my point, though. As soon as I did what you have been doing all along (assuming BS), I did the same in return and you call me on it :)

I don't think anymore talking needs to be done. You proved my point.

@ST:
Sorry, old man, there's no way I’ll be getting repossessed, especially in your life time. So I guess we'll both be buying other peoples' reposessed homes.

I don't represent ALL Landlords. You seem to be suffering from the same delirious symptoms as Serena- complete ignorance.

"And yes I DO want fries with that."- HA HA?

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Sabrina 31st December, 2008 @ 00:55

heh you can tell ST is pretty old because of his unfunny rusty, old man humour.

Amusing how he's called Landlords pathetic. I find it comically unusual how everyone assumes that all landlords are going to get repossessed and are struggling financially.

I'm a landlord and i'm still making good money from it. I don't assume about other peoples financial circumstances because it would be as reliable as a chocolate teapot.

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Sabrina 31st December, 2008 @ 00:58

I do agree with Kris though. Seems all rather pointless arguing.

None of you know anything about eachother, yet you're acting like you do. Where's the facts coming from? As i already said, just because someone is a landlord, it doesn't really mean anything in regards to financial status.

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Serena Goode 31st December, 2008 @ 11:54

Hi Sabrina,

I wouldn't criticise all landlords - it is a necessary part of society after all.

It used to be a minority practise and the housing market has recently been distorted by 1) insanely easy lending on BTL and 2) property investment becoming a craze. But still I wouldn't be hostile to all recent BTLers - it can be a rational decision in spite of the insane market.

I'd only have a go at those who 1) go on about how they are going to become property millionaires and 2) express attitudes of contempt such as the "I Hate My Tenant" article and various posts by PA stating how inconvenient his tenants are. That's the kind of attitude that really doesn't impress.

Basically the property market has over the last few years become a pyramid scheme. This forces many people to take some kind of gamble with regard to buying or waiting to buy. Some BTLs didn't realise it was a pyramid scheme. But for many I think the decision is bascially to recognise that this is a scheme and that those who make money from BTL are doing so in a parasitic manner (eg to others detriment). It is characteristic of this group to see their tenants as a ghastly nuisance but to gloat about the fact that they are being enriched by the process. In that case I think there clearly is some moral dodginess about the attitude. Old-style landlords rarely behave that way. I was criticising PA for his published words and attitudes, not making assumptions about all landlords.

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jonster 31st December, 2008 @ 12:28

Hmm, property amateur – you say you put down a 25% deposit on each house.

Did you save up the 25% for the 2nd and 3rd house or did you release equity from previous houses?

And when did you buy the houses?

Just curious, as it will help to provide everyone with a clearer picture of when you will eventually go bankrupt.

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The Landlord Avatar
The Landlord 1st January, 2009 @ 14:38

Jonster,

I didn't release any equity. All my properties have over 35% equity. And I have no mortgage on my residential home.

My rental income covers repayment mortgages (and monthly over payments) and I have a full-time career, which doesn't pay badly. Additionally, I have savings.

I'll never understand why people like you enjoy other peoples' failure. It's pretty sad. I'm not a criminal. I work hard and I earn an honest living.

Thanks for being such a cunt.

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jonster 1st January, 2009 @ 15:44

It is a pleasure.

I do not have an ideological aversion to BTL. I just think that most people who have ‘invested in the last 3 or 4 years have made a bad decision. I do think you are probably lying in your response to me though. Or maybe you are just and misguided. I cannot be bothered to read through your site because it is badly written, semi literate, miss-spelt drivel.

However, my thoughts are that:

You claim to have bought properties in the 2006/2007 timeframe. At that time, most investors were getting yields of about 4 – 5% from the properties they bought. You claim to be getting a yield that covers your Mortgage IR, Capital Repayment, Tax Payments and indeed, you claim that you can make overpayments. If you have bought the places in 1995, I could believe this statement. As you bought in 2006, I do not – feel free to provide example of how the numbers stack up.

Also – your “35% equity” statement....... how have you arrived at the ‘value’ of your ‘investments’ to come up with this figure? And when were they valued?

You have, so far, had a lucky break with interest rates. That was pure chance rather than ‘shrewd decision making’ though.

IRs will go back up – and rents will probably go down as they usually do in a recession – capital values will decline sharply and banks will probably start making margin calls on their BTL customers. Maybe you have stress tested your model against these scenarios. I am guessing probably not though. I remember the last recession and the property crash of the early 90s. You do not as you are too young. Also, swearing is really not that big and clever, it just makes you look like even more of an idiot.

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HouseofCards 1st January, 2009 @ 17:22

Property blogger is clearly the most stereotypical easy money chasing fool that people portray BTLetters to be.

He keeps going on about making assumptions. It is hard not to when he shows that any assumptions one might make appear to be spot on.

The guy never lets out any of the interesting information. Like how a 24 year old can afford to put down 35% on a house on a regular basis. In reality, the career he claims to have cannot be that well paid (for his age). Even if it was, why is he so obsessed with being a millionaire. Did he have nothing in his youth. He really is a modern day Dellboy...

Classy

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The Landlord Avatar
The Landlord 1st January, 2009 @ 18:23

@Jonster:
"I just think that most people who have ‘invested in the last 3 or 4 years have made a bad decision"

"I do think you are probably lying in your response to me though"

"most investors were getting yields of about 4 – 5%"

"IRs will go back up – and rents will probably go down as they usually do in a recession"

"I am guessing probably not though"

Good stuff. PROBABLY, PROBABLY, PROBABLY. Basically, you have no idea...

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The Landlord Avatar
The Landlord 1st January, 2009 @ 18:40

@HouseofCards:
You answered your own damn question. I have a career, that's how I put down the deposits. How more specific can I get?

You're acting like a self-righteous shit-for-brains.

How am I "obsessed" with being a millionaire? Because I blog about my property investments, or because I have a caption that says, "DOCUMENTING ONE MAN'S JOURNEY TO BECOMING A PROPERTY MILLIONAIRE"? It's just a caption. However, Heaven forbid that someone wants to make money and secure a future from property. MY GOD, what a bastard!

My youth was, and still is great. However, i have to question the state of your old age; so bitter, and in disbelief about something so believable. You're sitting here having a mental masturbating over someone else's possible success. I'm not sure why a lot of you people are having such a hard time to come to grips with my situation. Is it because it angers you to see other people doing OK in life, consequently you refuse to believe?

Here's an idea...stop being such an ignorant, bitter, twisted twat and get on with YOUR life because it's clearly suffering.

Get over yourself.

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jonster 1st January, 2009 @ 22:20

Hah hah, share the numbers then wonder boy. That will shut us all up. And, just out of interest, when did you buy your last house and how much for?

As for my guesses, they are based on experience of the last recession. How are your memories of the last recession?

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sam 8th January, 2009 @ 03:03

Hey property amateur. Great site. Funny as fuck.

Why to HPCrashers still hate landlords? They all seem to agree buying residential property is financial suicide until prices return to long run multiple of average earings (eg another 25% off or so). Yet even HPCrashers presumably have to live in houses whilst the crash gathers the momentum of doom. Should they not have some good feeling (gratitude? sympathy? glee?) that some others are prepared to rent them a home. Indeed in their view property amateur is surely a wonderful guy offering a HPCrasher shelter from both the physical elements and the metaphorical tsunami of real estate armaggedon.

Basically what I am trying to say is that super ted and house of cards and all you other HPCrashers should try to be happy. Relax, kick back on your rented sofas, smoke a hamlet and enjoy the crash.

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sid 10th December, 2009 @ 09:45

I am 25yrs, I have four properties and I also saved for my deposits.I find it hard that people don't believe LL that this can be done. I also want to become Super Rich.

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