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Buy to let fever?

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Comments

  • F_T_Buyer
    F_T_Buyer Posts: 1,139 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Tassotti wrote:
    okay...been overcome by the doom mongers.

    Portfolio for sale....Value £7300000


    Passive Income £8k per month

    Going to take the profit( 3.2 million) and invest in gold

    Any advice on stocks and shares?

    Woah. How do you plan to sell? With sitting tennets? As a portfolio? Or kick em out before you sell?
  • poopscoop
    poopscoop Posts: 315 Forumite
    Part of the Furniture Combo Breaker
    F_T_Buyer wrote:
    Woah. How do you plan to sell? With sitting tennets? As a portfolio? Or kick em out before you sell?

    You can sell properties with tenants.
  • poopscoop
    poopscoop Posts: 315 Forumite
    Part of the Furniture Combo Breaker
    Tassotti wrote:
    okay...been overcome by the doom mongers.

    Portfolio for sale....Value £7300000


    Passive Income £8k per month

    Going to take the profit( 3.2 million) and invest in gold

    Any advice on stocks and shares?

    :rotfl: nice one Tassoti, You could always slowly trickle it into a Stocks & Shares ISA like most low-riskers
  • F_T_Buyer
    F_T_Buyer Posts: 1,139 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    poopscoop wrote:
    You can sell properties with tenants.

    I know. But you generally get a lower price for it as it limits the market you are selling too.
  • poopscoop
    poopscoop Posts: 315 Forumite
    Part of the Furniture Combo Breaker
    F_T_Buyer wrote:
    I know. But you generally get a lower price for it as it limits the market you are selling too.

    it depends, as I see a lot of tenanted student properties sold quicker with tenants in as an income is ready available.

    just last year at an auction a property with guide price of £80k in a really really bad area fetched £160k because it had DSS tenants in it. You could have bought next doors property for £50k.
  • BobProperty
    BobProperty Posts: 3,245 Forumite
    1,000 Posts Combo Breaker
    poopscoop wrote:
    it depends, as I see a lot of tenanted student properties sold quicker with tenants in as an income is ready available.

    just last year at an auction a property with guide price of £80k in a really really bad area fetched £160k because it had DSS tenants in it. You could have bought next doors property for £50k.
    Bet the vendor couldn't believe their luck. Didn't know the DSS paid £2000 per month for anywhere. What do you mean they don't :eek:
    Tassotti - that £8k is net (like after the mortgage payments) isn't it? Otherwise that looks like an awful return, £96k on a value of £7.3m? That's 1.315% Have I got that right?
    A house isn't a home without a cat.
    Those are my principles. If you don't like them, I have others.
    I have writer's block - I can't begin to tell you about it.
    You told me again you preferred handsome men but for me you would make an exception.
    It's a recession when your neighbour loses his job; it's a depression when you lose yours.
  • poopscoop
    poopscoop Posts: 315 Forumite
    Part of the Furniture Combo Breaker
    BobProperty wrote:
    Bet the vendor couldn't believe their luck. Didn't know the DSS paid £2000 per month for anywhere. What do you mean they don't :eek:

    Hi Bob, it was a run down property split into 5/6 dodgy studio flats. Spot the ones that paid well over http://www.nethouseprices.com/index.php?con=sold_prices_street_detail_ew&localityKey=00000&townKey=0787&thoroughKey=085452&street=Cross%20Green%20Avenue&year=&house_style=&house_age=&house_type=
  • BobProperty
    BobProperty Posts: 3,245 Forumite
    1,000 Posts Combo Breaker
    poopscoop wrote:
    Hi Bob, it was a run down property split into 5/6 dodgy studio flats. Spot the ones that paid well over http://www.nethouseprices.com/index.php?con=sold_prices_street_detail_ew&localityKey=00000&townKey=0787&thoroughKey=085452&street=Cross%20Green%20Avenue&year=&house_style=&house_age=&house_type=
    Bet the owners of 26 are wondering what they did wrong :D
    Do you know if the £50k on number 28 two months after the previous transaction was a sale at a massive loss or just a secured loan to pay for all the HMO work? :D
    A house isn't a home without a cat.
    Those are my principles. If you don't like them, I have others.
    I have writer's block - I can't begin to tell you about it.
    You told me again you preferred handsome men but for me you would make an exception.
    It's a recession when your neighbour loses his job; it's a depression when you lose yours.
  • competitionscafe
    competitionscafe Posts: 4,050 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Pity the site doesn't give no of bedrooms or floorspace in m square - according to it a garage sold for almost as much as a residential property?

    XX Gloucester Lane,
    Edinburgh,
    Midlothian,
    EH3 6ED £225,000 - Residential
    10-Jan-2006

    Map (EH3 6ED)


    XX Gloucester Lane,
    Edinburgh,
    Midlothian,
    EH3 6ED £180,000
    Garage
    16-Dec-2005
    Map (EH3 6ED)

    £180k for a garage - I know Edinburgh is expensive but that can't be right! :)

    Also found some properties [Great King Street, Edinburgh, Midlothian, EH3] where there was no price - it just says 'Love, Favour and Affection ' - eh?! What's that all about? :)
    "The happiest of people don't necessarily have the
    best of everything; they just make the best
    of everything that comes along their way."
    -- Author Unknown --
  • mystic_trev
    mystic_trev Posts: 5,434 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    competitionscafe wrote:
    £180k for a garage - I know Edinburgh is expensive but that can't be right! :)

    Also found some properties [Great King Street, Edinburgh, Midlothian, EH3] where there was no price - it just says 'Love, Favour and Affection ' - eh?! What's that all about? :)

    1. Garage - Commercial property or Garage block?

    2. 'Love, Favour and Affection ' This is Land Registry "speak" for a gifted property.
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