Your getting £10 Million!!!!
- Thread starter Roland0
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Soldato
I'd buy a small house with you if you like?
Caporegime
Buy house, bank rest and live off interest.
this ^^^
My advice (if you read it) was that although you could make more money elsewhere why have the hassle of the mortgage. As for the contention that a sophisticated investor would put £10m in a low risk bond, that is totally and utterly laughable. A sophisticated investor would place the money in a range of investments, some bonds, some more liquid money with banks, some may be in a hedge fund of funds, some with private equity, some in real estate, you get the picture. I don't think I implied gambling at all or even anything vaguely high risk.
If your only objective was to not put any of your capital at risk then your option would be incredibly dull but would achieve it, albeit significantly impacting your potential for growth.
Associate
I wouldn't be thinking too conservative if i had 10 MILLION!
Soldato
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Man of Honour
It would be great to think you could bank the 10 million and live off the interest but once you know the money is there you'll start digging into it.
Does this also mean that if you see a £50,000 car you want you will have it on the knock too?
I know a fool who did something similar but not with as much money.
He won 60 grand and decided to buy a house which was 60 grand.
After talking with an 'expert' he banked the money to pay his 60 grand mortgage off.
He sold his terraced house for 20 grand and filled his new house with 20 grands worth of goods and repairs.
Everything was tickety boo until he decided he wanted a 25 grand car and then a 5 grand holiday.
Very soon he had spent all the money and he was left with a 60 grand mortgage which he couldn't pay and ended up selling the house.
If I had 10 million I'd buy it outright because I know it would be hard not to spend the money in the bank.
Does this also mean that if you see a £50,000 car you want you will have it on the knock too?
I know a fool who did something similar but not with as much money.
He won 60 grand and decided to buy a house which was 60 grand.
After talking with an 'expert' he banked the money to pay his 60 grand mortgage off.
He sold his terraced house for 20 grand and filled his new house with 20 grands worth of goods and repairs.
Everything was tickety boo until he decided he wanted a 25 grand car and then a 5 grand holiday.
Very soon he had spent all the money and he was left with a 60 grand mortgage which he couldn't pay and ended up selling the house.
If I had 10 million I'd buy it outright because I know it would be hard not to spend the money in the bank.
Caporegime
Sounds like a mate of mine! Similar situation although around £100k - He's an Idiot!
I'd be happy to have the £10M and then decide!
Associate
B - well a few B's actually - getting somwwhere that would be mine no matter if things went lady lumps skywards.
Also a beach bar in mexico
Also a beach bar in mexico
Hold fire,
Who'll give you a mortgage based solely on what's in your bank and not your earnings?
So you might want a 400k house...........if you're earning £100k a year then fine, but I'm guessing you don't.
If this is the case, this question and thread is terrible!
Who'll give you a mortgage based solely on what's in your bank and not your earnings?
So you might want a 400k house...........if you're earning £100k a year then fine, but I'm guessing you don't.
If this is the case, this question and thread is terrible!
check yoself before you wreck yoself!
.......erm 10m at 5% is approx 500k pa gross income
well with thr 10 mill in banks he'd be earing well over 100k every year.
Can you count that as 'income' though?