HomeWednesday 19th November – ‘Interesting’ post
I have been away for a few days and I got back late Monday night, so yesterday sat down to open about 5 days post, and there were half or dozen or so letters from finance companies about mortgages.
So my Bank of Ireland mortgages have gone down from 5.15% to 3.64% and the mortgage payment itself on one of those (it’s one of my larger HMOs) has gone down from £1,402 to £904.84 per month – and I have two of those – so that’s an additional £1,000 of income just from that.
Then of course loads of letters from Mortgage Express and the interest rates I am now paying on those are mainly between 2.49% and 2.64% - and I actually now have a mortgage on a ‘cheap and cheerful’ property in Sheffield where the mortgage is £178 per month. The rent on that one is £495.
And so on.
Are we in recession? Credit crunch? Call it what you will but I know this – if you invest wisely and by following the principles and the formulas that I teach – it doesn’t matter if the market is going up down or sideways, you will always be able to make money.
In this case I wouldn’t sell any of these properties today as the values are slightly down on what I paid – but that doesn’t matter because I wouldn’t WANT to sell them today when they are making me so much income.
And in case you think I am being greedy – just be reassured that I am off to the Make A Wish charity ball on Saturday – all the spare money will go there!