property market

[townfanjon]

I have been looking for a property to develop for ages, in a word, it's bloody hard mate !!!

 

[REDSAW]

well, just bought the one i was on about last saturday. they were asking £168k 4 bed detatched. got it for £158k no work to do..thats being rented out. (part own 50%).

now thinking to sell ours, rent for £4.5k a year. buy somethink then bring it up to spec. we will then move into that for a short time untill/unless its sold.
then move on!.

 

[rocketmanbkk]

I did it in the late 90's. But here you could've bought a 1 bed flat for £50k, no stamp duty. Paint it & sell it pretty easily for more.

Haven't done it since 2003 when my daughter was born as I lost my bottle.

I got my house paid & 1 flat rented with small mortgage. I was thinking of another buy to let but refurbs around here are top money & everyone want them keeping prices high.

My goal is in 10 years to have 2 flats rented & paid is my house. Here they achieve £750 pcm. That'll do me.

 

[rocketmanbkk]

well, just bought the one i was on about last saturday. they were asking £168k 4 bed detatched. got it for £158k no work to do..thats being rented out. (part own 50%).

now thinking to sell ours, rent for £4.5k a year. buy somethink then bring it up to spec. we will then move into that for a short time untill/unless its sold.
then move on!.

The problem renting part owned is they usually don't allow it to be rented so need to be careful.

 

[rpm]

Bet that £50k one bed flat is to buy now what £150-170K?

 

[rocketmanbkk]

£135/40k

I rented out 4 at one stage.

I had a good life so won't complain.

 

[townfanjon]

After a lot of conversations and research, the days of nicking cheap houses to 'do up' have gone , unless you are very lucky and in the right place at the right time.

 

[REDSAW]

The problem renting part owned is they usually don't allow it to be rented so need to be careful.

nah, thats ok. its 50% untill it gets inherited . then i will be my bro in laws landlord.lol

 

[rocketmanbkk]

After a lot of conversations and research, the days of nicking cheap houses to 'do up' have gone , unless you are very lucky and in the right place at the right time.

Agreed fully. The good old days are long gone.

 

[townfanjon]

I've missed the bloody bus ............. Again lol