BTL Tycoon plans ftb'r extinction?

Doozergirl

prudryden wrote: »

Doozer - on your £100mm. Keep your chin up - the first £100mm is always the hardest. Once you get it, however, the rest comes easy.

This time next year, pru

This time next year.

abaxas

Nothing to see here. Just a bit of 'property ramping' to try and up the market.

Doozergirl

abaxas wrote: »

Nothing to see here. Just a bit of 'property ramping' to try and up the market.

When did you have the sense of humour bypass?

Jonesya

I don't think it'll make a difference - £500M, flats averaging say, what, £150k so 3333 properties in all, hardly a big chunk of the UK market.

I struggle to see how the venture will turn a profit though, particularly given current rental yields.

Generali

I'd say that he's positioning himself to take advantage of a crash. He's quoted in a few articles (e.g. here and here) that HPs are very high.

It seems that the aim is to invest the money over 5 years. Presumably he's looking to buy up new build (i.e. ready-to-let) places from bankrupted or financially distressed developers.

RHemmings

In terms of bubble theory, I think we have found the greatest fool.

epz_2

agreed, if anyone borrows 100mill and invests in a market with an average yeild of 5% when interest rates are hitting 6% then you will go bust very fast, i dont care how rich you are 1% of 100mill is still a lot to lose a year.

Doozergirl

He's not going to buy with a yield of 5% though, if he's taking advantage of desperate developers. He's going to buy at the lowest price he can, which might be just the build cost if the developers are in dire straits.

wifeforlife

manhattan wrote: »

Interesting article from sky news:

property tycoon vincent tchenguiz is bidding to become one of britains biggest residential landlords.

He is to take advantage of the buy to let exodus with a deal with the royal bank of scotland on monday.

They plan to buy large numbers of homes "off plan" 18 months before they are completed that will be let to people unable to get onto the property ladder.
The initial fund of £100 million is intended to grow to £500 million.



Looks like they are trying to take advantage of ftb'rs rather than help them to me?

What do you guys think?

Maybe it's just me but I cant see where it says he's buying all these flats/apartments people are refering to?

I think it's an absolute outrage, I'm sick of this country, the rich getting richer and the poor getting poorer.

Cate

nelly_2

cathy2702 wrote: »

Maybe it's just me but I cant see where it says he's buying all these flats/apartments people are refering to?

I think it's an absolute outrage, I'm sick of this country, the rich getting richer and the poor getting poorer.

Cate

hating this country is my hobby, I devote a lot of time to my hobby too