Buying without mortgage. £35k Budget

Gra76

Even in Hull there's not a lot of properties for £35k (in decent condition) with 2 bedrooms unless you get lucky at auction.

You used to be able to buy houses for £5k a time in some of the less desirable areas of Hull but those days are long gone. I know of people who bought almost entire streets of run-down houses, did up the houses and then let them all out and, I would imagine, are currently making a ton of money with rental prices the way they are.

bangersnmash

Fire_Fox wrote: »

Bangers!!!!!!!!!!!!!!!!!!!! :iloveyou:

I was thinking .... one or two days a week each working, five or six days a week communal drinking, non? Current owners have insufficient chiefs and too many indians, we need more chiefs and fewer indians. :beer:

Aw, sweet! I love you to, Fiery! You're great, you're the one! Fantastico.

Yes, the owners of that gig are onto a winner, as long as they can recruit an endless stream of muggins to do all the work for them.

If every two or three years they reinvest their £48k or £72k profit in buying another one, then reinvest the profits of that one as well, then after a decade or two they could have a whole chain of them. And make a flipping fortune! And all they've got to do is a bit of recruitment and arms length management. Amazing, nice work if you can get it.

The poor desperate workers might as well rent out the three bed accommodation seeing as they're never going to be in it except for sleeping because they're going to be in the pub part working nearly every hour of every day. So just fling a mattress on the floor in one of the storage parts, the only time you're using it you're going to be totally knackered and asleep as soon as your poor tired little head hits the pillow so it doesn't matter what the room looks like, you'll never have time or energy to notice.

Yes, a hard life being someone else's donkeys. I wouldn't mind being the owner, that sounds like a good'un, sounds like a right good earner. But being the hamster on the wheel, running fast continuously but never getting anywhere - oh dear, what an awful position to be in.

maninthestreet

Blue22 wrote: »

Hmmm I'm guessing from your post that you have never visited Jaywick? I think after 2 minutes in the area you would change you mind about the property being 'cheap'

It really is unlike anywhere else in UK

http://www.aylmer.family.name/trails/east/exc/excpix/exjaywick.jpg

Btw most are rental properties, the owner occupiers left years ago.

http://www.youtube.com/watch?v=sxowB9RVYN4

p00hsticks

sam959 wrote: »

£35k i have never heard a house being that cheap before! .

They've been selling them for £1 in Stoke recently

http://www.thisisstaffordshire.co.uk/Stoke-Trent-families-offered-pound-1-homes-ndash/story-16655826-detail/story.html

Hillbilly1

There are a few things going to auction at £35k ni Carlise. Another poster mentioned it.

They look OK - may be worth checking out the areas?

Morgage_Confused

lol.....maybe Jaywick is not a good idea. I never thought there could be areas in this country like it!

http://www.youtube.com/watch?v=sxowB9RVYN4

bangersnmash

Yes, Jaywick, Essex. Quite.

In the course of researching cheap property I came across Jaywick a couple of years ago and was surprised to find odd little noddy houses going very cheap. It was fairly quickly obvious why they are so cheap as a lot of the area looks like a cross between beach huts and a shanty town.

Here’s an interesting 20 minute documentary about it from 1989. It was originally wooden holiday chalets and due to the low quality was going to be bulldozed in 1971 but the residents fought back at a public inquiry and the plans were cancelled.

In the better part some people like to try to disassociate themselves from Jaywick and so sometimes call their area west Clacton and the properties are 9 to the acre and look fairly reasonable. But in the sink part, called Brooklands it’s 29 to the acre. An unusual part of England, in some respects even worse than Tower Hamlets in London, so the woman from Save the Children says in the doco, quite a feat.

Jaywick area documentary. South East England.
http://www.youtube.com/watch?v=sQ1LHzEHaNY&feature=related

Loopgames

Quick! get yourself to Allsop property auction tomorrow at 9:30 pronto..they've got a few giveaways..example..

Hull property: £15-20k

theGrinch

Loopgames wrote: »

Quick! get yourself to Allsop property auction tomorrow at 9:30 pronto..they've got a few giveaways..example..

Hull property: £15-20k

the winning bid is the key

RAS

Also try the lower end of the market in Huddersfield, Halifax and Dewsbury.

1 bed terraces and 2 bed flats.