Felixstowe Docks in trouble?

pickles110564

Vinegartits wrote: »

I can almost hear the snarl of fear behind your post! OK, I will answer you this one last time Pickles, more out of amusement than anything, and then I must get on with my work:

There is a little-known function on this board called "Not logging in" that some of us like to use when not posting, you should try it.

There are none so stupid as they who will not inform themselves; you operate in a world of half-baked anecdote and wishful thinking, one docker wanting to get "on the ladder" does not constitute a housing recovery. I have repeatedly given you the means to inform yourself yet you repeatedly refuse to do so QED you wish to remain in denial and I am wasting my time.

Perhaps when you miss your bonuses this year, or if you manage to get your unspeakably ugly house on the market, reality may take hold but whilst you persist in manufacturing meaningless data to keep your own fear at bay there is no point in entering into a dialogue with you.

Yet again no answers just spin.
But as always I will answer you.
You say my latest property has no kerb appeal. This shows how naive you are in property development, you do not buy the best house in the road, you buy the one that has the most potential for you to turn around and increase its value.
Why do you think that I do not understand how to turn around an ugly duckling? How do you think I have managed to buy into one of the best roads in Felixstowe? I have always admitted that I am not as well educated as you guys and girls on here but I have proved several times that I can turn properties around.
Fact, If I did not how, how did I smash the celing price for a bungalow in Glenfield road? Just to help you do your research I bought for £205k and turned it around in three years.
Another one to help you , I bought in Brook Lane for £125k and sold for nearly an extra £100k.
You have never admitted why you have such a grudge against the Port but I have enjoyed the sparing between us and long may it continue if you answer instead of ducking the questions.
Best Rgds
Pickles

Vinegartits

pickles110564 wrote: »

Yet again no answers just spin.
But as always I will answer you.
You say my latest property has no kerb appeal. This shows how naive you are in property development, you do not buy the best house in the road, you buy the one that has the most potential for you to turn around and increase its value.
Why do you think that I do not understand how to turn around an ugly duckling? How do you think I have managed to buy into one of the best roads in Felixstowe? I have always admitted that I am not as well educated as you guys and girls on here but I have proved several times that I can turn properties around.
Fact, If I did not how, how did I smash the celing price for a bungalow in Glenfield road? Just to help you do your research I bought for £205k and turned it around in three years.
Another one to help you , I bought in Brook Lane for £125k and sold for nearly an extra £100k.
You have never admitted why you have such a grudge against the Port but I have enjoyed the sparing between us and long may it continue if you answer instead of ducking the questions.
Best Rgds
Pickles

I am sorry Pickles, I had no idea you were a professional property developer. Indulge me a moment, calculate how much the first property you bought cost and then calculate the cost of the latest, work out how indebted you are and then go to one of the many HPI calculators on the web. You will find you didn't add any value at all, it was all HPI.

You bought the current one for £350k you say, costs of £20k let's say, how much to do it up? £50k? Let's call it £450k all in.

How much can you expect to get for it? More than it cost to buy? I doubt it, you will make a serious loss on this one because you have added no value Pickles; call this a eureka moment but all you did was mess about for a few years in each property and move up to a bigger house/bigger debt courtesy of HPI. Congratulations.

Oh, and if you call "turning an ugly duckling" painting the front door, well you are indeed the master. The house is so unappealing because yes, it is ugly and there is little you can do about it, but it also looks cheap. You have not spent the money where it counts in a road where it will matter. A B&Q kitchen is not going to cut it in P******s Road, people will expect better and you know it. You bluster and you brag, you put up no real argument, you give no facts; look at Property Bee, look at local insolvencies, get real and stop trying to pick a fight with me, it will not alter the timing of your own financial demise one iota.

mewbie_2

pickles110564 wrote: »

Fact, If I did not how, how did I smash the celing price for a bungalow in Glenfield road? Just to help you do your research I bought for £205k and turned it around in three years.

I know the answer to this by the way. It's HPI. And three years sounds like a lifetime.

We all watched the TV programs where dimwits were told what to do by Sarah B, they ignored it, and still 'made' a fortune. Really looking forward to the new Snake and Ladders one coming up. (I like reverse property !!!!!! - you know - the ones where they suffer)._party_ Maybe you should try to get on it?

Does anyone remember that lovely Greek man who sold his house for 550k at the height of the boom? He was rolling in it. When they caught up with him again he was not quite so cheerful, and was facing bankruptcy. I liked him. But fools and their easy money are soon parted.

Pickles - have you only ever done this 'developing' stuff during a period of rapid HPI and easy credit? Paint door, and sell house for 20% more? Gotta be a lot harder in this climate surely.

pickles110564

Brook Lane bought for £125k in 1999 sold for £244k in feb 2002.
Dellwood ave bought for £165k in feb 2002 sold for £287k in oct 2004.
Glenfield ave bought for £205k in oct 2004 sold for £374k in may 2007.

Brook lane other prices.
Number 76 sold £294k in dec 2000
Number 41a sold £167k in mar 2002
Number 60 sold £246k in aug 2004
Rightmove average £198150.
Highest other seller was Number 53 sold in jul 2007 £420k
Dellwood ave other prices.
Number 25 sold £225k nov 2003.
All others sold since then were semi det.
Rightmove average price £174234.
Highest ever seller was mine.

Glenfield ave other prices.
Number 25 sold 228K in 2006
Number 58 sold £175k in 2007
Rightmove average price £203968.
Highest other seller semi det £263k in nov 2007.

There you go Vinegartits as usual move facts from myself. If all I do is add a coat of paint(as says you) pretty impressive results.
You say I move up to a bigger house each time. Wrong again every house when I bought was smaller than the previous one.
You say I am in financial demise, you do the maths.

Mewbie,
You say it has all been down to HPI, if so why are most other properties in the roads that sold did not get anywhere near my sold prices and if the bears on this forum are correct they never will.
You can see the time spread of these properties and other dates around them so make up your mind for yourself.

Vinegartits as usual you still have not answered one question but still try to deflect or spin your way out.
Maybe one day you will be man enough to answer maybe one question.
Least others can see you for yourself and realise that you are all talk no facts to back up your fiction.
Dont bother posting again until you start admitting you were wrong as you are just making yourself foolish.
Best Rgds as always
Pickles

mewbie_2

pickles110564 wrote: »

Brook Lane bought for £125k in 1999 sold for £244k in feb 2002.
Dellwood ave bought for £165k in feb 2002 sold for £287k in oct 2004.
Glenfield ave bought for £205k in oct 2004 sold for £374k in may 2007.

Interesting how much the purchase prices shot up over the period, given that you buying a smaller house each time.
1999 - 125
2002 - 165
2004 - 205
Either they saw you coming, or it was HPI.

pickles110564

mewbie wrote: »

Interesting how much the purchase prices shot up over the period, given that you buying a smaller house each time.
1999 - 125
2002 - 165
2004 - 205
Either they saw you coming, or it was HPI.

I hate you, All that time I spent and have helped you to bring me down in flames.
Mewbie, granted HPI is there for you to view but even you must see that I could not have broken celing prices with just a coat of paint?

mewbie_2

pickles110564 wrote: »

I hate you

Good. We're getting somewhere.

I am prepared to concede you may have 'added value'. But based on the information how on earth do I know what element that is?

For example. Buy 100k - sell 200k. Clearly may not all be HPI. But how much was added value - ie. how much was the cost and worth of the extra bit. Buy 100k - add bedroom (cost 10k) - sell 200k. At least I can see that the bedroom added value.

But you can't really quote an in and out figure without including costs and take that at face value. I may be a twit but I'm not stupid.

JonnyBravo

pickles110564 wrote: »

Vinegartits as usual you still have not answered one question but still try to deflect or spin your way out.
Maybe one day you will be man enough to answer maybe one question.
Least others can see you for yourself and realise that you are all talk no facts to back up your fiction.
Dont bother posting again until you start admitting you were wrong as you are just making yourself foolish.
Best Rgds as always
Pickles

I'm afraid pickles you are a hypocrite.

I've observed you going back through this thread deleting posts that you realise were foolish/wrong, when people were questioning you on them.

At least Vinegartits has the balls to leave his posts in place for all to see.

mewbie_2

It's really tricky working out 'profit' - they never show it properly on Sarah Beeny.

Example:
100k Buy
10k Costs - fees, etc.
10k Mortgage
20k Renovation
====
140k

200k Sell
-10k Selling costs - fees, etc.
====
190k

Profit 50k

But. If then add on say 50% HPI over a three year period to the original 100k purchase cost. You make precisely nothing.

JonnyBravo

mewbie wrote: »

It's really tricky working out 'profit' - they never show it properly on Sarah Beeny.

Example:
100k Buy
10k Costs - fees, etc.
10k Mortgage
20k Renovation
====
140k

200k Sell
-10k Selling costs - fees, etc.
====
190k

Profit 50k

But. If then add on say 50% HPI over a three year period to the original 100k purchase cost. You make precisely nothing.

Eh?

Have the pixies stolen your brain this morning mewbie?

How do make that 50k disappear?



You've still made that 50k.

It can only be considered to be "nothing" if general inflation has been (in your example) 50% also. Just because one class of investment has seen that inflation doesn't make it worthless.
(It may be that the improvements have been worthless but that is a very different scenario to the whole investment having made no money.)