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Property investment in Liverpool
Comments
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It is a company called rw investment and they are endorsed by Zooola as well.
Zoopla does not provide financial advice or endorse unregulated investment schemes. Listing RW Invest on their website is not endorsement.What has attracted us is the payment as it is down payment of 40k then the rest after a year which suit our situation
If you really want to invest all your money in a flat then why not wait until next year and buy one that actually exists with your £140k? (It's not what I would do but it's less likely to lose all your money.)0 -
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barnstar2077 wrote: »I agree with Reaper. Do your homework first, once you know the property / renting market in your chosen area inside and out then it is time to find a property. Asking random people on the internet if you should gamble 140k in a new development being built by a company you are not that familiar with is insanity.
Having said that, the 7% yield has my alarm bells ringing. It sounds like the sort of thing a company might say to reel people in.
Is there nowhere near where you live that you could buy a property in? Somewhere you are familiar with.
I disagree. Gambling £140k in a new development built by a company you are not that familiar with is insanity. Checking beforehand is the first sign that there's still some glimmering of sanity left.0 -
What has attracted us is the payment as it is down payment of 40k then the rest after a year which suit our situation that is why, but now I'm hesitant as reading from your answers seems to be there is a lot of hidden cost as well as there is no guarantee of rent income
If you need those items pointing out to you, you need an adult to look after your money as you clearly are a serious risk to them. I'm serious.
There are people on here who have put all their pension money into schemes like this and lost most or all of it. Now I see how this happens.0 -
. If you need those items pointing out to you, you need an adult to look after your money as you clearly are a serious risk to them. I'm serious.
There are people on here who have put all their pension money into schemes like this and lost most or all of it. Now I see how this happens.
Yes I came to those who guide people as I have never done this before and yes I wanted those thing to be pointe to me in baby step0 -
It is up to you, but there are many of these new-build flats in Liverpool; far too many to let! There are hundreds lying empty. People generally prefer small houses, of which there are many available. They have built endless student tower-blocks which they are hoping to rent out. Many students prefer a house-share in a cheap area rather than a fancy flat. Not so long ago there was a programme on TV about the poor quality of these high-rise flats (or luxury apartments as they tend to be described) They try to sell them as "for young professionals" and there are only so many of those around; certainly not enough to fill all the flats already available!
As a Liverpool resident I would advise you to think very hard before parting with your hard earned money and perhaps look at small terraced houses that you will most likely be able to let rather than a "proposed development".0 -
horsechestnut wrote: »It is up to you, but there are many of these new-build flats in Liverpool; far too many to let! There are hundreds lying empty. People generally prefer small houses, of which there are many available. They have built endless student tower-blocks which they are hoping to rent out. Many students prefer a house-share in a cheap area rather than a fancy flat. Not so long ago there was a programme on TV about the poor quality of these high-rise flats (or luxury apartments as they tend to be described) They try to sell them as "for young professionals" and there are only so many of those around; certainly not enough to fill all the flats already available!
As a Liverpool resident I would advise you to think very hard before parting with your hard earned money and perhaps look at small terraced houses that you will most likely be able to let rather than a "proposed development".
Very well put and I agree with the opinions you express above. It's sad to see these ugly tower blocks pop up all over the city and watch them largely remain empty for years …. or worse still, remain half built or half converted for years when the investment money runs out. I'm sure it can't just be a Liverpool phenomena!0 -
Where about it this development? Loads of stalled developments at the minute in the city and can't think of any being built as you describe!
As for £900 rent not likely but depends on where it is?0 -
That is the beauty of these forums you got people who are there for guidance without patronising people and people who feel superior to other and put them down.
Yes I came to those who guide people as I have never done this before and yes I wanted those thing to be pointe to me in baby step
I think you need a wake up call rather than mollycoddling if "hidden costs" and "no guarantee of rental income" are news to you !
Better you are annoyed, shocked and take a step back and review your naivety, than lose £140,000.
Have you even written down what costs will be for any sort of BTL?
Not just what the property costs but legal, ground rent, sdlt, maintenance, voids, agency, tax.
Are you aware of the legal duties on you as the landlord of a rental business?? And the penalties for missing out on them? The tax treatment? Read a book on it? A website?
Start with understanding that.
Next, do you have a basic spreadsheet? Back of a envelope?
Put some figures in for a start even if they are made up.
Only then look at properties and start putting the numbers in for those specific figures.
No point deciding these flats are not a good investment and then diving into, say a 3 bed terrace instead, if you haven't done the basic work to understand how the maths work first.
On which point have you compared returns from property to other investments including those in your pension? If not, why not?0 -
Where about it this development? Loads of stalled developments at the minute in the city and can't think of any being built as you describe!
As for £900 rent not likely but depends on where it is?0
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