Did anbyody see I Want it Now Tuesday 30th with Penny Smith

jackieblue

I caught some of this programme (7pm) and missed some info I would like. Did anybody see or record it by any chance.

If you did, could you please let me know as the kids were fighting just as the "expert" was saying something.

Many thanks.

mystic_trev

Total crap.The experts said they shouldn't buy in France as it would cost them "£11,000 a year" instead they should buy 2 BTL's in Colchester where they would make £6,000 a year! This was total rubbish. I worked the figs out and they would have needed a yield of 10% without voids.Colchester is a good place for BTL but yields are still only around 4.5% - 5%

In the end the couple decided to ignore the experts, but have now changed their minds and are thinking of buying in Spain!!!!!

jackieblue

Hi. I'm glad you said that. I hadn't heard of anywhere with the yields she was suggesting and I missed the town names but I thought one of them was Colchester.

Did she say £30 would be a deposit on two properties @ £100k each and that they would clear £250-£300 a month on each after mortgage and management charges ?

I couldn't make it add up at all and although I missed a lot it seems you agree. Thanks for making me feel better.

F_T_Buyer

That program was clearly trying to encourage property investment in this country rather than abroad. The figures mentioned for the UK were a complete joke, and were totally unrealisitic.

The required yield without voids was 8.5% (assuming 5% APR mortgage).

The BBC hit a new level of property ramping with that program. It was a total discrace. Something you would expect from Kirsty and Phil.