The best of British builders!!!
- Thread starter DM
- Start date
Let me get this right, this house is 200k behind current value, why dont you buy it
no its 200 under original asking price
, its around 75 to 85k under what I think is market value.The guy built 2 of them, we have just bought one I did think about buying the second one but to be honest I am way over stretched with the project I have up north which has gone way way over budget!
no its 200 under original asking price
The guy built 2 of them, we have just bought one I did think about buying the second one but to be honest I am way over stretched with the project I have up north which has gone way way over budget!
He who dares wins, get it bought
![[TW]Sponge](/styles/overclockers/avatars/6.png){kind=avatar}
Soldato
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Good on them. They are entitled to a break you know!
He who dares wins, get it bought
lol yah we are still doing the maths, if the guy does not manage to shift it at auction I may still think about it after my place is done.
I have seen a few good deals in the last couple of auctions.
Buy it and let it, thats the worst case if you cant flip it.
We stopped flipping because letting is so strong at the moment, keep it a year see what happens to the market, absolute worst case you come back to it in 15 years and you got a nice cash injection to come.
Indeed, it seems like a great way to keep Southerners gardens watered in the summer. I would also be good if there was a tank for other, indoor use as well as hosepipes - e.g. toilet flushing - get a filter and a tank in the roof for that would save loads of water! Surprised all new builds don't come with stuff like that.
Anyway, seeing as I live in Yorkshire and have a stream in my garden, water shortage never bothers me
.In the last 3 auctions I've been to everything that sold was sold way way over priced! Haven't seen a bargain in ages
Keep going to the auction, i have at least 5 wasted days before i get one, sometimes more.
TBH, I think me and my dad will just put a phone bid with the max we want to pay for a house. Its just easier than travelling down for some potential disappointment, if we don't get it we don't get it.
How much cash do you need to get started in BTL ?
Can you get a mortgage for places or do you have to get a loan from bank ?
What sort of return do you get ?
Fed up with crap rate on my savings. Maybe this is the way to get some reward for being prudent.
Can you get a mortgage for places or do you have to get a loan from bank ?
What sort of return do you get ?
Fed up with crap rate on my savings. Maybe this is the way to get some reward for being prudent.
Soldato
- Joined
- 14 Jul 2005
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- Bristol
Nothing wrong with Bacon Lettuce Tomato sandwich experts?
I should read a thread rather than respond to a link.
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Its been a long time since we used mortgages but as far as i know buy to let lenders max out at about 80% of the property value.
Returns the rule of thumb is supposed to be 5% of the property value p/a so a 200k property returns 10k, but at the moment we are doing better than that slightly maybe 12-13k p/a for a 200k ish property.
Bear in mind maintenance and any down time you might have between tenants as well.
this tbh...
When I was a student I helped out an army mate for couple of weeks one summer with some labouring etc.. for his dad's building firm. Was very easy work - would turn up around 9:30 have numerous tea breaks until the 1 hour lunch at 12:30 and then start clearing up etc.. at 4:30 so as to go home at 5pm...
Was great at the time, working outdoors, getting a bit of a workout at the same time, plenty of breaks, lots of banter...
Some physical exercise involved but nothing compared to lugging a bergan around on exercise or digging in etc...
Well someone has to provide housing tbh... If the market dictates that there is more need for flats than larger family homes then someone is going to step up and cater for that need.
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That may be so, but I have to go through Croydon every day on my commute and invariably somebody there spoils my day, every day. Usualy most likely to happen if I have to use the tram.
Mark, you should drop me a line if you're in/around Beckenham. I'm right by the cinema. I could do with picking your brains about this property malarky
