Would you buy a buy to let at the moment

Rinoa

Graham_Devon wrote: »

I'm genuinely interested in this.

When you say, adding value, what do you mean? I think you mean spending money on it, but then you stated sell immediately....which leaves you no time for improvements to add value.

So, either you are not selling immediately. Or you are not adding value by improvements. Obviously it can't be both.

Maybe immediately didnt mean immediately or something?

I just stuggle to figure out how you are going to get a house 15% below asking price, then sell it immediately close to asking price. You would be targetting the exact same buyers who didn't purchase or offer (leaving you to get the 15% off) last time round. Sure, you could get lucky, but this was said as some kind of investment, not getting lucky.

Good grief, I said immediately as opposed to renting it out for 20 years.

For immediately read 3 months.

Graham_Devon

Rinoa wrote: »

Good grief, I said immediately as opposed to renting it out for 20 years.

For immediately read 3 months.

Fair enough, it's now clear. You never mentioned spending any money on it in the initial post either.

I have left my crystal ball in the drawer at work, so sorry for not picking all that up

Strange how you thanked chucky's post though describing it as you originally described it, but are now yourself describing it differently.

Hard to keep up with things around here y'know.

IveSeenTheLight

neverdespairgirl wrote: »

I reckon - 1940, for sure.

How about 1360?

Got any fact figures or links for this?
1940 I guess your of course referring to the second world war.
What happened in 1360? Are you referring to the Edwardian war?

So the two date you choose coincide with wars.
Have you got a tin hat for the next one?

neverdespairgirl

IveSeenTheLight wrote: »

Got any fact figures or links for this?
1940 I guess your of course referring to the second world war.
What happened in 1360? Are you referring to the Edwardian war?

So the two date you choose coincide with wars.
Have you got a tin hat for the next one?

1940 - combination of the Second World War, and a bubble 15 years earlier.

As for 1360, your dates are well off. there was no "Edwardian War", anyway - Edward III was at war most of his reign, but 1360 was nothing special. In fact, 15 years earlier, in 1345, was teh major sacking of Caen, and Crecy in 1346.

Between 1345 and 1360, however, was the Black Death.

dopester

chucky wrote: »

i've heard of people offering estate agents season tickets to clubs as a gesture of goodwill if they got them a property at a price that works for them. it maybe wrong but it happens.

I guess the EAs will need something to do on Saturdays given there will be ever fewer proceed-able normal viewers and buyers at around current asking prices. Go-go BMV overpayers.

Blacklight

Right then, notwithstanding world war III, nuclear holocaust or zombie apocalypse, I'd say it's a pretty good bet that it will go up in value in the long term.

rockitup

Rinoa wrote: »

Depends on the whims of your local tax office.

If you did 6 a year you wouldn't get away with it. One a year they probably won't bother, at least not for the first few years.

I sold a commercial property a few years back, put it on my tax form and fully expected to pay a fair whack on the profit I had made ~ tax office never asked me for a penny.

The HMRC are starting to crack down on property developers/refurbishers and BTL over the last year or so and I don't think someone could even get away with more than the first one now Rinoa.

Times they are a changin'

Gorgeous_George

Q. Would I spend £200,000 on a house to let out at £850 per month?

A. No.

I'd need the rent to be twice as much to even bother doing the detailed maths. Or, I'd need the house to cost half as much to bother doing the maths.

Q. Will house prices fall or rise?

A. Fall.

Huge ConDem-inspired job losses are about to destruct the UK economy.


Q. Will interest rates rise?

A. Yes (eventually).

When they start to rise, the ConDems will be keen to inflict as much misery as possible on borrowers so that their rich friends are happier.


Q. What would I do with the extra £900 per month that I'd have?

A. I'd be more tempted to lend £900 per month at Zopa (but do the risk assessment/research first).

GG

IveSeenTheLight

Blacklight wrote: »

Right then, notwithstanding world war III, nuclear holocaust or zombie apocalypse, I'd say it's a pretty good bet that it will go up in value in the long term.

Do some people really wish for WWIII or anothe black plague in order to see houses drop earlier than they were 15 years previously.

I think they'd have more worrying things to care about.

Thrugelmir

Rinoa wrote: »

I sold a commercial property a few years back, put it on my tax form and fully expected to pay a fair whack on the profit I had made ~ tax office never asked me for a penny.

Maybe your under investigation.