Property Snakes and Ladders; 2009

silvercar

Making a profit on the second development was even luckier than the first. He didn't even do any work! Stopping 'cos his heart wasn't in it and still making 40k, jeez what sort of example does that set. Next Beenie will be saying we can all make money in property!

lostinrates

I remember house hunting with friends in that area in the beginning of the decade, and even considering the locations and conditions, I think he was very shrewd to even find properties at those prices. I love Herefordshire and would move there merrily.

Thrugelmir

lostinrates wrote: »

I remember house hunting with friends in that area in the beginning of the decade, and even considering the locations and conditions, I think he was very shrewd to even find properties at those prices. I love Herefordshire and would move there merrily.

Considering house prices had dropped around 20%. Did you believe his statement that the land had increased in value by £40k? Considering only demolition had taken place. Personally I think his bank said NO to a loan. So he was forced to sell.

PasturesNew

Thrugelmir wrote: »

Considering house prices had dropped around 20%. Did you believe his statement that the land had increased in value by £40k? Considering only demolition had taken place. Personally I think his bank said NO to a loan. So he was forced to sell.

He'd made a big wedge immediately prior... surely he'd paid cash for it all to that point...?

Or do I just not get the whole debt thing? Had he actually wasted it all on new cars/holidays and paying off other debts ... and beers etc ... and actually only put 10% down?

Lotus-eater

mewbie wrote: »

What happened to the Brighton guy? I thought they were going back to revisit?

Feeling ripped off, basically a repeat. And a bloke called !!!!!!?

Sheesh - we all know an amateur developer who has got burnt in this market. Pickles - give Sarah a ring will you? She'll love that gravel drive.

Totally a repeat and the name !!!!!!..... I snorted with laughter and had to ask the OH if I had heard that right

Again, a full recount of the profit they are going to make..... without any explanation of any fees, or mortgage/ loan payments. Waste of time and I don't believe some of the figures anyway.

silvercar

He must make some serious money on the music side. He stopped work on the first development to earn a bit of money and came back 3 months later with enough money to finish the development. This is just a hobby really; one he has now got bored of.

Mini_Bear

I thought "!!!!!!" was very lucky but had a good attitude about him.
I could see the relief in Beenies eyes wen he said he wouldnt be doin any more property developing, one less person as competition.
I really think they should have stressed more that !!!!!! made his proper fortune on the first property before the slump. one of my colleagues, buoyed by the programme last nite, is now lookin at remortgaging her parents house to flip a property close by! worrying times.
does anyone think there will be another programme next week?

SUESMITH_2

lostinrates wrote: »

Powerboat woman's come dine with me is on More four on freeview! whoop!

which one was she in? fancy having a laugh

as for hte one last night, what a pair of twits, would have liked to see more of hte idiot from brighton, could you imagine lugging all your stuff up all those stairs? bad enough dragging the shopping in from the car

poppy10_2

Back to Rotherhithe - has this been posted?
http://planningonline.southwarksites.com/planningonline2/AcolNetCGI.exe?ACTION=UNWRAP&RIPNAME=Root.PgeResultDetail&TheSystemkey=9531130

30/01/2009
49 BRUNEL ROAD, LONDON, SE16 4LD
Proposal: Change of use from a single live/work unit and a separate office/studio (Class B1) to two new residential units, 1x 2 bedroom dwelling and 1x 1 bedroom dwelling with no external alterations.
Decision: Refused 05/05/2009
Reason: 1) The proposed change of use would result in the loss of Class B1 floorspace on a site than fronts onto a classified road. The application would therefore result in the loss of an employment site which benefits from direct access to a main road. As such, it is contrary to Policy 1.4 Employment sites outside the preferred office location and preferred industrial locations of the Southwark Plan 2007 and to the objectives of the Plan to protect business sites with locational advantage.
2) The site lies within Flood Zone 3a defined by Planning Policy Statement 25 as having a high probability of flooding where the risk to life and / or property, from tidal inundation would be unacceptable if the development were to be allowed; due to the fact that the proposed development does not have a safe means of refuge in the event of flooding. Consequently, there would be an unacceptable risk to the health and safety of the occupants in a flood event, which is contrary to policy 4.2 Quality of Accommodation of the Southwark Plan 2007.


_____
In the programme they suggested that they already had permission for converting the sausage factory into flats. Instead they've just resubmitted their application, it's in a consultation period at the moment.
http://planningonline.southwarksites.com/planningonline2/AcolNetCGI.exe?ACTION=UNWRAP&RIPNAME=Root.PgeResultDetail&TheSystemkey=9532512

nearlynew

Well and truly shafted.

Greed and stupidity is a wonderful combination.