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Buy to let fever?

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  • Tassotti
    Tassotti Posts: 1,492 Forumite
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    So based on that, what would this house be valued at in another 40 years time?

    Price Now £180000

    Answers on a post please
  • Tassotti
    Tassotti Posts: 1,492 Forumite
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    rizla01 wrote:
    V

    1stly I will continue to buy flats at auction & EAs (At the right price) and am still able so to do even in the saturated South East.

    I find that the knack is doing a 80k prop up to being valued at 110k, letting it for a sum to cover the loan of 85% Mortgage which I then take out on another property (costing about 90k) do it up and to sell on for 120k.

    Initial investment of 80k now gives a return of 120k (40k less cost of doing up two flats (10-15k) and four mths work) = 40k profit plus any (?) accruing value of the original purchase.

    Doesn't always work out this way but the last two did - and do bear in mind that I am able to do most of the work myself.

    These are just the thoughts of a simple but rational person (me) without the benifit of a degree in economics or financial services and therefore open to scrutiny. Fire Away!

    No Scutiny from me. Just goes to show the doom mongers that there is still money to be made from property if you know what you are doing.

    You may not have a degree in economics or finance, but you understand money, and you buy at the right price.

    I wish you the best of luck in your future projects
  • poopscoop
    poopscoop Posts: 315 Forumite
    First Anniversary Combo Breaker
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    nmiah786 wrote:
    :rotfl:

    Earning the money is easy, keeping hold of it is the difficult part....if we spend most of our time on here we are less likely to have time to spend!!! :j

    true, but if I stay on here too long I will have far less time to do the things I want, like building my business. I have lost focus by spending my time on here. :confused:
  • poopscoop
    poopscoop Posts: 315 Forumite
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    Deemy wrote:
    MAKE fortune cookies :p

    nice one :rotfl:
  • nmiah786
    nmiah786 Posts: 577 Forumite
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    poopscoop wrote:
    true, but if I stay on here too long I will have far less time to do the things I want, like building my business. I have lost focus by spending my time on here. :confused:

    In that case....GET BACK TO WORK NOW!!! :rotfl:
    Debt at highest (November 2005) = £35,856

    Debt currently (August 2006) = £20,790
    &More £1,530, Egg £6,800, HSBC £3,760, Egg Loan £8,700

    Interim goal = £23,400 (Target: February 2006, Missed but acheived May 2006)
    2nd Interim Goal = £15,000, Target October 2006
    Debt Free Date = February 2008 BUT I'M GOING TO BE TRYING FOR SOONER!!! :p
  • BobProperty
    BobProperty Posts: 3,245 Forumite
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    Deemy wrote:
    The shock will likely be external... we already have signs of it brewing i.e. the rush to gold !

    A dollar collapse under the weight of twin deficits, the US housign marker following suit, and echoing like an earth quake aroudn the globe, as do stock market crashes.
    If the dollar is going to take a hit:
    1. What will oil prices do, other than leap like they did in the early 70's?
    2. Where is a safe currency? $ won't be, € won't be, £ won't be - are people getting into Swiss Francs? Yen (unlikely)?
    A house isn't a home without a cat.
    Those are my principles. If you don't like them, I have others.
    I have writer's block - I can't begin to tell you about it.
    You told me again you preferred handsome men but for me you would make an exception.
    It's a recession when your neighbour loses his job; it's a depression when you lose yours.
  • poopscoop
    poopscoop Posts: 315 Forumite
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    "What goes up must come down, Superfresco make it easy it's by Graham & Brown"
  • mystic_trev
    mystic_trev Posts: 5,430 Forumite
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    http://investing.reuters.co.uk/news/newsArticle.aspx?type=propertyNews&storyID=2006-04-24T115000Z_01_NOA442244_RTRUKOC_0_CITYWIRE-PROPERTY-BUYTOLET.xml

    Nuff said
  • eurows
    eurows Posts: 138 Forumite
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    When Phil and Kirsty are on telly telling you to get in. Its time to get out. These two would have you selling your granny if they could get airtime
  • lynzpower
    lynzpower Posts: 25,311 Forumite
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    Only 28 more hours till go gang!!
    :beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
    Theres no dollar sign on piece of mind
    This Ive come to know...
    So if you agree have a drink with me, raise your glasses for a toast :beer:
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