Rightmove apartments investment only?

[Deleted User]

Hi all. Hoping somebody can help.

When browsing Rightmove for apartments to buy (to live in). Almost all of the results for new properties mention net rental income in their property description.

Does this mean these are for investment only? Several clearly state 'investment only' in the title/description, but some don't, so i'm confused as to whether these can be bought to live in , rather than rent out.

Can anyone help?

A few example are:

http://www.rightmove.co.uk/property-for-sale/property-70043771.html

http://www.rightmove.co.uk/property-for-sale/property-70051064.html

http://www.rightmove.co.uk/property-for-sale/property-52672614.html

Thanks

Comms69

In the links you've posted I assume it's because it's off plan and simply a marketing ploy.


BUT there are times when the tenant is either on a long fixed term or a protected tenancy (and virtually impossible to evict) where the LL doesn't want time wasters.

TheMoniac

On the examples you give the agents look like companies that specialize in investment properties. Assuming they are not already let then these are just their projected investment return figures. You are searching in Manchester, and there is quite a bit of new build investment property in that market at the moment.

Comms69

TheMoniac wrote: »

On the examples you give the agents look like companies that specialize in investment properties. Assuming they are not already let then these are just their projected investment return figures. You are searching in Manchester, and there is quite a bit of new build investment property in that market at the moment.

Im fairly sure the pictures are artists impressions

need_an_answer

Looked at a few of these types of apartments a couple of years ago when considering Man Uni.

There is nothing to stop a residential purchase although the blocks are being marketed more to the investment side and lets.

Watch out on the management charges too,they were from memory quite steep for what you get.

Our personal view was it was more tenant focused rather than the line of home ownership.
The other thing to consider is with so many available and even new ones springing up all round that area it may make resale not so easy unless you were prepared to hold for many years.

eddddy

This one sounds like an investment scheme...

[Deleted User] wrote:

http://www.rightmove.co.uk/property-for-sale/property-70051064.html

These schemes sometimes work like this:

A developer is saying...

- I need 100 people to pay me a deposit of £65k (= £6.5m)...

- I'll use the £6.5m to buy a piece of land and build 100 flats on it. (At this stage the developer probably only has an option to buy the land.)

- Later, each of the 100 people pay me another £65k and I'll give each of them one of the flats

So possible outcomes include...

- You end up with a really good flat for £130k

- You end up with a rubbish flat for £130k, a year or two later than you expected

- The developer goes bust and you lose your initial £65k

So it's up to you to thoroughly research whoever it is that gets your £65k, their track record, the viability of the scheme, etc.

Here's an example of the 'worst case scenario' happening: https://www.manchestereveningnews.co.uk/business/business-news/dylan-harvey-residential-in-administration-926233

TheMoniac

If you are looking at investment for BTL consider whether buying off-plan or new build is the best option. When properties are marketed to investors then many will end up on the rental market. That means lots of choice for tenants all in the same location, and price competition. In the long term you may have to accept lower rents to minimize your void periods.