What Does It Mean When Someone Owns

[Amena1234]

Second house which is a buy to let ? Are they Rich?

[newmodarmy]

How do you define rich?

Does a label help?

[Canary42]

The answer is a matter of personal opinion, probably influenced by the opinion-holder's own level of wealth.   

 

What is your opinion Amena ?

[ToraToraTora]

no of course not.

[wolf63]

It is just an investment.  I was thinking of investing in property.

[cashier]

What does it matter to you?  Why are you so interested in how much money people have?

[Tilly2]

Is this a possible spouse?

[Old_Geezer]

No. It means they had sufficient to be considered a low enough risk to lend to for a property purchase as an investment. It also means they either didn't realise the government would keep passing laws to make them irrelevant as far as the landlord/lady and tenant arranfement is concerned, or they were happy to be considered a nothing with no rights.

[Old_Geezer]

...arrangement...

[wolf63]

I must admit that I wouldn't borrow money to purchase a second house.

If I didn't have the cash to spend I wouldn't bother.

[Peter Pedant]

yes. very rich

[davebro3]

many folks inherit a property & rent it out rather than sell it

[DocHH]

What is rich? Elon Musk may well consider the Duke of Westminster poor! It is all relative.

How much in assets and income do you consider to be deemed rich?

If a person owns 2 flats worth £100,000 and another 2 houses worth £250,000 are they both rich!

[drmorgans]

 

15.28:

The OP says the rental property is buy to let.