"The Downswings of Property and Poker"

[Eso Kral]

age ?..real name? did we sit same table Monte Carlo day one?

oh and good read so far looking forward to this..

oh and do you wanna buy a house in Leicester i wanna sell?

Hi,  we know each other and spoke this weekend at DTD when you binked your seat but didnt sit together at the monte carlo.
My real name is Richard Blacklock we spoke at the bar and i introduced myself to you when you had said it would be good for all blondes to say hi.
A house in Leicester yeah sounds good i can probs put that one on the credit card 

mate so sorry
i am so so bad with names and faces .....

No problems bud

[pleno1]

grinding tonight?

[leethefish]

age ?..real name? did we sit same table Monte Carlo day one?

oh and good read so far looking forward to this..

oh and do you wanna buy a house in Leicester i wanna sell?

Hi,  we know each other and spoke this weekend at DTD when you binked your seat but didnt sit together at the monte carlo.
My real name is Richard Blacklock we spoke at the bar and i introduced myself to you when you had said it would be good for all blondes to say hi.
A house in Leicester yeah sounds good i can probs put that one on the credit card 

mate so sorry
i am so so bad with names and faces .....

No problems bud

next time you see me slap me on my bal head and say its meee.....

[Eso Kral]

hello rich

just a few about property as i am trying to force my mum to rent our home out and buy another property

Hi Paul


do you think its the best time to invest in property atm?
Well a deal is a deal whenever you buy it so if its at the right price its not a bad time to invest but i would be doing my research to make sure im not paying over the odds, with all the uncertainty in the markets its still price sensitive.

also which type of property (students, professionals, lower class, family etc etc) is the best to invest in considering you dont have a huge amount of capital atm 10k>? or is it better to save up for a better deposit?
The bigger the deposit the better the rate you will get from the lender its amazing the difference can be from 10  - 15% so i would work out the difference and  probs save it as the market is unlikely to move upwards at the moment so you dont risk losing money or the gap getting wider by waiting   eg you save an extra 10k and in that time the property you were looking to buy rises by 8% and was worth 160k so you saved 10k but have to pay an extra £12800 more so your actually 2800 worse off.

if you had 30k to invest in property would you
get one ok house 180k( average price around lincoln for 4 bed house)
or two 90k houses
I would buy 2 houses as if your looking long term ie 5-10 years then if the market jumps you have 2 lots of jumps plus you have to be running really bad if you bought 2 bad props that you cant rent out whereas if your big house is not rented out you have maximum pain, oh and if you buy 2 flats at 90k your rental yield is most likely going to be better.

[redsimon]

Looking forward to the diary Richard.

On the property/ BTL front is it possible to leverage your money if you have no verifiable source of income?

i.e. Could you get 50% LTV (i.e stump up £80K cash deposit on a £160K property(ies) based on projected rent more than covering interest only mortgage, or do you need a "job" as well

[Karabiner]

Love the new diary and looking forward to this on a daily basis especially after meeting you the other week.

It may well just be me but I have trouble reading the text in blue, or red for that matter.

Work away...

[Eso Kral]

As I've mentioned before I bought a house with two people, it didn't go well and I moved out after a month and didn't want anything more to do with it, they continue to pay it however have missed multiple payments, I can't get off the mortgage as they would have to remortgage it and no bank would touch it, I also had problems as I foolisly had direct debits in my name which I cancelled but then just paid them all off so with all that my credit rating is smashed. Anyway, as you know I now grinds the poker and thus have no proof of income, so with all that said I'm pretty much fooked yeah How tough will it be for me to even rent a property do you think ? I know you can't run a business from a rented property but I assume there's obv a way around this as far as pokers concerned as obv some ppl must.

Hey Raymondo,
Ok your situ will be like many poker players, in your case you need to get your credit report and make sure your repairing it to improve your credit rating. If its that bad and you cant get any credit at the moment even if you dont need it take some pre paid credit card which charges a small fee per year which they take monthly and it shows as a loan on your rating to improve your rating.
If you cant get off the mortgage and they have missed payments then this obv goes against you which is not good as lenders are very fickle at the moment so they cherry pick who to lend to and require healthy deposits. In terms of proof of income when your personal rating is repaired and you have a good deposit if you have a creative mortgage consultant they can normally help out, it may cost a few hundo in drinks but its worth it.
I know people who can afford the mortgage but cant prove it and have managed to get them houses they wanted but it is very deposit and credit score biased.
With rentals some agents are maybe more flexible than others so it may be worth while wading through them and finding out what they need to do before recommending you as a tenant plus if you know someone who has there own business and may be willing to say that you work for them just to get you started or if your buying with someone else you can put the property in their name but make sure before they exchange contracts on it you have a good DECLARATION OF TRUST lodged with a solicitor that outlines what your both putting into the property and what shares in the property you each own when it is to be sold to protect yourself.

How is the pokerz going now, you prefer this year or last year in terms of grinding?

[Eso Kral]

About time Rich. Bookmarked.

Ty  snap

[Eso Kral]

grinding tonight?

Hi M8,
No unfortunately my grind this week is   Weds Thurs Sunday as the OUTLAWS are over for 2 weeks from Slovakia so having disappeared to Edinburgh for 4days i need to do some normal life stuff first but if your around and fancy a chat or session whilst playing lmk.
I will send you a couple of hands to look through and will get round to the pokerstars thing 2moro  4sure!

[Eso Kral]

Love the new diary and looking forward to this on a daily basis especially after meeting you the other week.

It may well just be me but I have trouble reading the text in blue, or red for that matter.

Work away...

Thanks Ralph it was good to meet you and put a face to an avatar as well, just for you i will keep this as normal. 

[Eso Kral]

Looking forward to the diary Richard.

On the property/ BTL front is it possible to leverage your money if you have no verifiable source of income?

i.e. Could you get 50% LTV (i.e stump up £80K cash deposit on a £160K property(ies) based on projected rent more than covering interest only mortgage, or do you need a "job" as well

If your genuinely looking for a property and have this issue pls pm me your contact details, ie name and number and i will gladly get in contact or put you in touch with someone who can help and if it means collecting paperwork etc im at DTD once a month or hook up with other regs on here so something can always be sorted, but in answer to your question if its a buy to let most lenders want at least 125% on the mortgage payment as the rent so if the property qualifies this way then proof of income need not be an issue however the set up fees are really extortionate for buy to lets so it may be worth looking at other options.

[redsimon]

Cheers Richard. Monies locked up until next May, looking at options for after then. I'll do a bit more research locally into rental incomes/property values. I'll probably bump into you at DtD in the meantime.

[Eso Kral]

Ok before I go back thorugh how I started off playing poker and my general degeneracy in my twenties I will talk a bit about my life now.
For those who dont know me  My name is Richard Blacklock and i am 37 years old living in Leigh on Sea in Essex with my AMAZING wife Petra and our little baby boy Maxwell Andrew Blacklock and overall life is pretty good, we have our tough times as all do but i would like to think that were a pretty good team and have to be as all of Petra's family live back in Slovakia so its kinda us against the world.
I met Petra 5 1/2 years ago when she was a valet at the Westcliff casino in Southend where i had been playing for about 2years and i looked at her and thought she was unbelievably beautifull and we started chatting before after a couple of weeks i plucked up the courage to ask her out, only to be told that she was not allowed to date customers. Never one to give up at the first objection i eventually convinced her to come on a date and we just really clicked and depite her only really coming to England to learn the language and improve her life back home luckily for me our relationship grew and we got engaged a year and a half later and married a further 18months on but more of that later.
Petra left the casino 6months after we metand with a little help and a few nudges we managed to get her a job as a studio assistant at a local photographers working with a well respected photographer who trained her and within 2 years she was the main photographer for the company and imo is a great photographer with amazing vision and creativity.
As you will see i am immensely proud of her achievements over here and as a new mum and as you will see from photo's to come im definatley batting out of my league.

[mondatoo]

As I've mentioned before I bought a house with two people, it didn't go well and I moved out after a month and didn't want anything more to do with it, they continue to pay it however have missed multiple payments, I can't get off the mortgage as they would have to remortgage it and no bank would touch it, I also had problems as I foolisly had direct debits in my name which I cancelled but then just paid them all off so with all that my credit rating is smashed. Anyway, as you know I now grinds the poker and thus have no proof of income, so with all that said I'm pretty much fooked yeah How tough will it be for me to even rent a property do you think ? I know you can't run a business from a rented property but I assume there's obv a way around this as far as pokers concerned as obv some ppl must.

Hey Raymondo,
Ok your situ will be like many poker players, in your case you need to get your credit report and make sure your repairing it to improve your credit rating. If its that bad and you cant get any credit at the moment even if you dont need it take some pre paid credit card which charges a small fee per year which they take monthly and it shows as a loan on your rating to improve your rating.
If you cant get off the mortgage and they have missed payments then this obv goes against you which is not good as lenders are very fickle at the moment so they cherry pick who to lend to and require healthy deposits. In terms of proof of income when your personal rating is repaired and you have a good deposit if you have a creative mortgage consultant they can normally help out, it may cost a few hundo in drinks but its worth it.
I know people who can afford the mortgage but cant prove it and have managed to get them houses they wanted but it is very deposit and credit score biased.
With rentals some agents are maybe more flexible than others so it may be worth while wading through them and finding out what they need to do before recommending you as a tenant plus if you know someone who has there own business and may be willing to say that you work for them just to get you started or if your buying with someone else you can put the property in their name but make sure before they exchange contracts on it you have a good DECLARATION OF TRUST lodged with a solicitor that outlines what your both putting into the property and what shares in the property you each own when it is to be sold to protect yourself.

How is the pokerz going now, you prefer this year or last year in terms of grinding?

It'll be two years before I'm looking to do anything so hopefully can repair credit in the meantime plus the housing market might improve.

Poker is good thanks, as far as comparing this year to last, I was playing 45mans last year and making more money but longterm cash is much better and much more interesting.

[celtic]

Come on, hurry up with the pics of your 17 year old wife pls.