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2 bed terrace 84k
oz0707
Posts: 918 Forumite
Hi all
In east mids.
Have a couple other irons in the fire but none seem to be coming off. Getting bit impatient now as have been considering buying for couple of years. Got money that isnt doing anything in bank. Live in top area now paying 450pcm in rent. Have seen 2 bed terrace in not as good area, but fine for me (young & no kids) asking mid 70's and think they will get around that as seems cheap. Needs a reno but should be able to do for less than 10k. Am in building trade and have turned over houses like this for others. They usually cost them between 8-12k for something like this Dependant on roof and elecs. So considering about 99% of people think market will fall on this forum does it make sense to invest 25k+ (depo and reno) in a 2 bed terrace that will give you repayments of low 300's? I think it makes sense to wait for market to fall, but its done that once and somehow I missed it. Seems very hard to call the bottom. If prices will stagnate, why not jump in?
Cant see this fetching any less than 450pcm in rent once freshly reno'd (safety net). Dont think rents are heading south with state of mortgage approvals
In east mids.
Have a couple other irons in the fire but none seem to be coming off. Getting bit impatient now as have been considering buying for couple of years. Got money that isnt doing anything in bank. Live in top area now paying 450pcm in rent. Have seen 2 bed terrace in not as good area, but fine for me (young & no kids) asking mid 70's and think they will get around that as seems cheap. Needs a reno but should be able to do for less than 10k. Am in building trade and have turned over houses like this for others. They usually cost them between 8-12k for something like this Dependant on roof and elecs. So considering about 99% of people think market will fall on this forum does it make sense to invest 25k+ (depo and reno) in a 2 bed terrace that will give you repayments of low 300's? I think it makes sense to wait for market to fall, but its done that once and somehow I missed it. Seems very hard to call the bottom. If prices will stagnate, why not jump in?
Cant see this fetching any less than 450pcm in rent once freshly reno'd (safety net). Dont think rents are heading south with state of mortgage approvals
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