Property Snakes and Ladders; 2009

PasturesNew

Just tracked it down, they sold one of the cottages in March 2008 for £208k.
http://www.houseprices.co.uk/e.php?q=3+cottages+wanborough&n=100

They put them on the market for £235k

BettiePage

Getting fed up with the repeats now. I just record them and FF to the last 15 minutes.

PasturesNew

£250k is what they thought they were worth when they'd done them.
Agents said (2007): £230k, £235k, £240k.

mewbie_2

BettiePage wrote: »

Getting fed up with the repeats now. I just record them and FF to the last 15 minutes.

Well its that time now.. getting excited.

PasturesNew

Library/School. Last one is available for rent:
http://www.rightmove.co.uk/property-to-rent/property-26266046.html

£650/month

mewbie_2

Fave quote. One woman to the other.. "unless they go down even more - he he he".

mewbie_2

PasturesNew wrote: »

Library/School. Last one is available for rent:
http://www.rightmove.co.uk/property-to-rent/property-26266046.html

£650/month

I'll rent it. No parking? Middle of nowhere? Shops miles away? No garden? Brilliant.

PasturesNew

OK, final figures for the two sisters were:

Former library and school - turn into three 2-bed flats
Started: Nov 2007
Finished: March 2009

Bought for: £228k
Budget: £150k
Sell: £170x3 = £510k
Profit £130k

One exchanged and completed, after 6 months of being on the market
Sold for: £158k
Other 2 on the market for £165k and £160k
Beeny said "drop the prices considerably to get them sold"

After that they accepted offer on 2nd for £145k and had the 3rd up for £140k

Not sure if they said how much they'd spent, I wasn't listening... but £378k was original buy+budget. Sold two at £158k+£145k = £303k (plus interest and costs for 18 months). I guess costs might be £15k (solicitor, architect/planning, interest, EA fees x2, solicitors again)

Still ahead ... how do they all manage it. Jammy bugg4hs.

PasturesNew

mewbie wrote: »

I'll rent it. No parking? Middle of nowhere? Shops miles away? No garden? Brilliant.

No parking, middle of nowhere and right on the junction of a large roundabout on a busy commuter road.

Ideal.

lostinrates

I missed it. Thank goodness for PN, eh?