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Holiday Lodge Investment
Comments
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silvercue said:
...and the contract terms and conditions state they are only allowed to increase in line with inflations.
When people say 'inflation increase' it is easy to assume they mean something like RPI or CPI... then you check in the small print and find they are using some obscure index which can run ahead of RPI/CPI by a mile. There are dozens of industry-specific price indexes and they could pick any one as their preferred choice, whilst still calling it 'inflation'.
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If you have FB look on Holiday Park action group page , it will open your eyesSealed pot challenge number 003 £350 for 2015, 2016 £400 Actual£345, £400 for 2017 Actual £500:T:T £770 for 2018 £1295 for 2019:j:j spc number 22 £1,457Stopped Smoking 22/01/15:D:D::dance::dance:- 5 st 1 1/2lb :dance::dance:1
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I don't have Facebook if that is what you mean by FB1
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silvercue said:I don't have Facebook if that is what you mean by FBSealed pot challenge number 003 £350 for 2015, 2016 £400 Actual£345, £400 for 2017 Actual £500:T:T £770 for 2018 £1295 for 2019:j:j spc number 22 £1,457Stopped Smoking 22/01/15:D:D::dance::dance:- 5 st 1 1/2lb :dance::dance:0
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If I understand correctly, this is an investment that you can give to an agent to manage for you, and it will yield 10% without any work on your part. Given that people can borrow money for say 3% at the moment, 10% sounds a bit too good to be true. IYSWIM.No reliance should be placed on the above! Absolutely none, do you hear?2
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silvercue said:Hi,
I am looking at buying a holiday lodge in Cornwall/Devon for an investment. Aim is to let it out for holidays using an agency (I may have no choice in the agency depending on where I buy). I would like to hope I can get somewhere close to10% ROI after costs. Of course I will then have to deal with any CGT or Income Tax implications too. I am looking for somewhere that does not charge a fee to sell later down the line. I am already at the stage of looking at some specific lodges. Though other than just searching through websites one by one I am not sure where else to find good info from independent sources on where to buy/avoid etc
I have been given some projected revenues and am awaiting cost breakdowns, but it looks decent
I was wondering if anyone here has made a similar investment and whether they have any advice/tips, or things to watch out for.
I have a feeling that there may be a host of unexpected costs/issues that could make this less attractive after a year or two.
I am looking at something like £200-250k spend. Agency are looking at 26% + VAT cut of rental (which seems high). Overall, I still think this could generate about 20k after costs and before tax, though still waiting on more detail.
Please take a few minutes to read this recent thread.
https://forums.moneysavingexpert.com/discussion/6275401/landal-greenparks-lodge-investment/p1
Then try a search on the name of any company you are still considering.
Please note, I make no comment about any specific company offering such 'investments'.
I, and some of my esteemed colleagues who post regularly on the Savings & Investment forum have received official warnings and mention of possible legal action in the past, simply for pointing out the inadvisability of such 'investments'.2 -
badger09 said: Please note, I make no comment about any specific company offering such 'investments'.
I, and some of my esteemed colleagues who post regularly on the Savings & Investment forum have received official warnings and mention of possible legal action in the past, simply for pointing out the inadvisability of such 'investments'.I will....Gavin Woodhouse is an entrepreneur who raised more than £80m from amateur investors between 2013 and 2019.
He gave investors the chance of buying a room in a care home, a hotel or another form of holiday accommodation.
He typically promised 10 yearly dividends of about 10% - paid out of the rent the room would generate - plus a commitment to buy the room back after a decade at 125% of the purchase price.
A high court judge put the businesses into administration ruling that Mr Woodhouse's business model appeared to be "thoroughly dishonest" and a "shameful abuse of the privileges of limited liability trading".
Any language construct that forces such insanity in this case should be abandoned without regrets. –
Erik Aronesty, 2014
Treasure the moments that you have. Savour them for as long as you can for they will never come back again.1 -
10% ROI after costs does sound too good to be true, unless there's a significant risk involved. I'd look at everything *extremely* carefully. If it was a genuinely low risk investment with a 10% return they would be flying off the shelves without needing a sales team! What are depreciation and fees like on these lodges?2
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letsbetfair said:10% ROI after costs does sound too good to be true, unless there's a significant risk involved. I'd look at everything *extremely* carefully. If it was a genuinely low risk investment with a 10% return they would be flying off the shelves without needing a sales team! What are depreciation and fees like on these lodges?
No reliance should be placed on the above! Absolutely none, do you hear?0
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