Top Tips!

[Mr Mystery]

Life! It's hard! But it gives you.....wisdom! And insight! And the very occasional leg up!

Let's share!

Here's one from me!

Mortgage PPI. Despite what the interwebs and media might tell you, this is a really good thing to have. After all, if you get squished or perished or redundanted, you won't be earning. And not earning means unable to pay your rent. MPPI does this for you. But, with the current scandal of PPI in general, hundreds, if not thousands of people are cancelling this cover because they're being told it's bobbins.

What does this mean? Well in short, when the next recession hits, there will be a great deal of people out there losing jobs and income without the protection, which will very likely lead to a higher than normal rate of repossession.

My Top Tip for this? If you've ever fancied buy-to-let as a dalliance or career path, you could do a lot worse than plan to take advantage of this coming storm. Get saving up a warchest for desposits.

When properties are auctioned, you get them cheap as the bank just wants shot of it. A prepared individual could jump the crest of that wave!

Mercenary I know. But sod it. As the thread said, life is hard!

[Denzark]

Good Work MM I love it when you unleash your inner Thatcher...

[Wolfshade]

I have my MPPI, because I am a Boss.

Here is a top tip.

If you cannot tell which bell you are supposed to be following and you have a choice between a larger one and a smaller one, always assume that it is the larger one.

[Mr Mystery]

Good Work MM I love it when you unleash your inner Thatcher...

I dunno.

My plan depends on people failing to seek adequate financial protection, and borrowing way more than they can actually afford, because the telly told them to.

Plus, it would help heal the economy, in it's own way. Just got to strike at the right time!

Buy property at auction during a slump - Reckon you can save as much as 30% on the previous price. Then, as Happy Days said 'sit on it', renting it out to cover the mortgage repayments.

When the economy is back on track, and house prices rise, flog it off again. Retrieve your deposit amount, plus whatever capital has already been repaid, and bank any profit made on the usually inexorable price increase.

Take that money, and slap it off your own mortgage, making life that little bit sweeter all round.

It's a great plan, you just need to be in position when it comes, which is the trick!

[KingMardi]

Tip from Louisiana:

When ordering a daiquiri from a drive through place, have them give you two lids, one with the straw in it, and another with a strip of tape covering it. If the tape is on it, it’s not considered an open container.

[Wolfshade]

Wait! You have drive through pubs?

[KingMardi]

Believe it!

http://www.daiquirisandcreams.com/

[Denzark]

I dunno.



Buy property at auction during a slump - Reckon you can save as much as 30% on the previous price. Then, as Happy Days said 'sit on it', renting it out to cover the mortgage repayments.

When the economy is back on track, and house prices rise, flog it off again. Retrieve your deposit amount, plus whatever capital has already been repaid, and bank any profit made on the usually inexorable price increase.

Take that money!


Or keep it and rent it out - be a Slum Lord like Sheriff Fatman in the eponymously named Carter USM song.

[Mr Mystery]

Nah. Better to flog it off, take the profit, and kill your own mortgage.

Frees you up a treat!