Investors Moving In?

Thrugelmir

BuddyBonthenet wrote: »

I just watched Homes Under the Hammer this morning and one of the people who bought a property at auction in July 08 in Marple (Stockport area on commuter belt for Manchester) had already bought 8 properties as investments that were now let out.

In the Nov 08 update the buyer said he had already bought two other properties, was in the process of buying one other, was actively looking at buying two others and would continue to buy for the next year or so, as he was now buying properties for 30%-40% less than they were worth 12 months ago. He does buy properties at auction that need work, but he was then renting each one out so that the income financed the work on the next property.

BTW he was still working full time whilst doing all this!

Yesterdays was more interesting. First time BTL investor. To cut a long story short obviously had no idea of what she was doing. When returned to view the property after refurbishment there were 3 other houses in the terrace with "For Let" signs visible! :eek:

BuddyBonthenet

Thrugelmir wrote: »

Yesterdays was more interesting. First time BTL investor. To cut a long story short obviously had no idea of what she was doing. When returned to view the property after refurbishment there were 3 other houses in the terrace with "For Let" signs visible! :eek:

I did see that - and her property was going to be at the bottom of the list with that breakfast bar - what a numpty she was!

Thrugelmir

BuddyBonthenet wrote: »

I did see that - and her property was going to be at the bottom of the list with that breakfast bar - what a numpty she was!

I now record the programme so I can skip the 20 minutes of repeated footage. As its relatively current I find it an interesting insight into the property market and the obvious fact that so many people saw it as instant way of making large sums of money.

JonnyBravo

Cleaver wrote: »

all the restaurants in the mid-range prices will just disappoint. Apply that same theory to travel too ...... you'll have a better experience either way than the Marriott or Ibis.

Mid-range? Ibis?

Ibis? Mid-range?

Ibis?

oh dear oh dear......

:huh:

Ibis?



Wouldn't let my dog, (if I had one), stay there

BuddyBonthenet

Thrugelmir wrote: »

I now record the programme so I can skip the 20 minutes of repeated footage. As its relatively current I find it an interesting insight into the property market and the obvious fact that so many people saw it as instant way of making large sums of money.

LOL! I watch it on iPlayer so I can skip those bits too!

I did wonder if they rushed to get this series shown so the prices were more relevant with the market changing so quickly. There are still a lot of people at every auction they show. There seem to have been a lot more repossessed properties recently that were in a reasonable condition. If I came into some money so that I could buy a property outright I'd consider an auction at the moment.

Cleaver

JonnyBravo wrote: »

Mid-range? Ibis?

Ibis? Mid-range?

Ibis?

oh dear oh dear......

:huh:

Ibis?



Wouldn't let my dog, (if I had one), stay there

Even when I used to work away alot and stay in many hotels I never actually set foot in an Ibis, but this was more out of chance than design. Are they bad then? I always assumed they were a Holiday Inn / Marriott kinda standard? I take it I'm rather off the mark...

BuddyBonthenet

Cleaver wrote: »

Even when I used to work away alot and stay in many hotels I've never actually set foot in an Ibis, but this is more out of chance than design. Are they bad then? I always assumed they were a Holiday Inn / Marriott kinda standard? I take it I'm rather off the mark...

Just a bit going by the Ibis I've seen.

PS I don't like pate.

JonnyBravo

Cleaver wrote: »

Even when I used to work away alot and stay in many hotels I never actually set foot in an Ibis, but this was more out of chance than design. Are they bad then? I always assumed they were a Holiday Inn / Marriott kinda standard? I take it I'm rather off the mark...

Yeah I'd say more Best Western than Marriott.

Best Western.... yeah right..... Best West of where? :rolleyes:

Degenerate

Cleaver wrote: »

Holiday Inn / Marriott kinda standard? I take it I'm rather off the mark...

I'd say you're also way off the mark mentioning Holiday Inn and Marriott in the same sentence. (Marriott is a higher standard by a long way.)

BuddyBonthenet

Degenerate wrote: »

I'd say you're also way off the mark mentioning Holiday Inn and Marriott in the same sentence. (Marriott is a higher standard by a long way.)

I agree - a Marriott would be at the top of my list - an Ibis would be near the bottom.