pathetico propertio

Sprintz

know what you mean Spuds, think certain BTL can become greedy overtime and feel sorry for the FTB ... to be honest it's time for the new generation to establish themselves and given the chance to own a REASONABLEY priced property - not one which will bankrupt them!

good observation with the way these property programmes are gonna go ... althow I hope Property Ladder survives as it seems whatever Ms Beeny says is gospel and always correct!

An interesting programme would be one catching illegal BTL...a quick sure way of flooding the market for FTB's

Sprintz

http://www.bbc.co.uk/iplayer/episode/b00hc266/Homes_Under_the_Hammer_Series_12_Episode_29/

Homes under Hammer

i wonder if that lass made it up 'Church Road Law'??

apparently since her house was on a street next to a church, the church had the authority to ask for repair money??!! what bleeding b0110cks is this?


there's also mention of mundic block in a 3 bed terrace in cornwall, which only fetched £85K - didn't realise mundic was such a scary word for lenders


it's true this show is struggling to find willing participants - what was all that sh1te about a recording studio???

spuds_2

No, I think the church repair thing is legal, but rarely used.

I did wonder if they were struggling for participants too - there have been a lot of commercial premises recently, like the guy with the £4k garage. Perhaps with the downturn, punters are not so willing to be on the show again in 3 months time in case they haven't made any money.

Sprintz

Homes under Hammer getting increasingly desperate showing footage from 2007:

http://www.bbc.co.uk/iplayer/episode/b0090cyh/Homes_Under_the_Hammer_Series_9_Episode_19/

Middle aged female lass with a Turkish Toy Boy (TTB) are a shining example of how NOT to be a BTL Investor :rotfl:

TTB dead set on refurbishing property to let out in time for student year...instead spends that crucial time on holiday in Thailand :eek:

Then Presenter rightly rips TTB apart for setting a stoopid 1 week target date to complete refurb :T

spuds_2

Yep, that just about summed it up. The place was a trashed student hovel that he was going to refurb in a week, but missed the start of term so no refurb, no tennants. It wasn't the sort of place you could rent to a family or professionals either.

There was one this week where an Asian BTL guy had bought a house to do up and let. Martin was very impressed that he had a portfolio of properties worth £8 million after about 15 years. Martin then kept referring to the guy himself as being worth £8 million - really annoying. Surely he is only 'worth' whatever the houses are valued at, minus the mortgages on them? Which will presumably be well short of £8 million.

Again, the impression being given was that buying houses as BTL's was a guarantee of riches.