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starting a property investment buisness
Comments
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The buying bit is probably the easy bit; lots to choose from, and some good bargains to be had from those selling due to Death, Divorces or Debt.
You'd probably need at least a 25% deposit to put down to get a mortgage for this sort of venture, perhaps even more... Do you have a big chunk of cash in your bank account?
The re-selling bit will be your downfall, as people can't get mortgages, so you'll end up with "pretty" properties on your hands that you can't sell. In which case, you'd end up becoming a landlord...Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
Brilliant.......:TI came in to this world with nothing and I've still got most of it left. :rolleyes:0 -
that's all.I'll have some cheese please, bob.0 -
This HAS to be a joke.Savings
£14,200 with £1100 M.I.A. presumed dead.0 -
This HAS to be a joke.
Hi there,
Re:- your reply to my recent thread, you wrote:-
"This HAS to be a joke.":A :A
At the moment we are looking at purchaseing a grade two cottage in a rather select rural village.
It is in need of a lick of paint and maybe a new thatched roof, electric points here and there and maybe some hot water.
Do I have your permission to enter into such a venture, as I am obviously worthless compared to such as you!!!!!
Many thanks for you very adult reply, I have learned so much by it.:rolleyes: :rolleyes: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl:
Moon'0 -
Yeah, I got your PM. Thanks for that.
I will explain myself.
So you're looking at starting a property investment business in a time where property prices are freefalling? When newspapers report drop after drop, week after week.
A time where even if you add 10K of value to the property, selling it is still going to be harder than any of the work done to the house.
It would be, quite honestly, moronic for someone who has to ask for help on a forum to invest in such a venture.
If you need to ask, then you're in no position to try something this daring.Savings
£14,200 with £1100 M.I.A. presumed dead.0 -
It's your money, fill yer boots. Plenty of books and advice out there. Do me a favour? Come back in 6 months and tell everyone how wrong they were. Looking at property !!!!!! programmes there are still some people going to the auctions. Good luck.Been away for a while.0
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LOL, nice wind up, you certainly roped in most of the above posters believing you were seriousChuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0
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Serious or not, the reality is there are many sharks moving in to capitalise on the current market conditions. Some enterprising folk will always find a way to make cash. The trick will be in buying properties at the right price (plenty of distressed sales at auction and more to follow) and doing the right amount of work in the right time.
Prices may or may not have a long way to drop, but rental yield and demand should be your measure. Plenty of big time landlords are sweeping up at the moment and will continue to do so. Once their tennant pays off the mortgage for them why do they care if they bought the flat for 100k or 50k. Just as long as they didn't buy it for the 200k that some people have - oops!
Not something I'd do though! Far too much like hard work.0
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