the monkey 342 Posted December 5, 2014 Report Share Posted December 5, 2014 tenants don't get me on that one tapped into next doors gas and electric supply ,don't ask me how they did it without killing themselves wondered why the heating was always on full belt I could fill a book with the horror stories but made a few quid out of it Quote Link to post Share on other sites
WILF 50,683 Posted December 5, 2014 Report Share Posted December 5, 2014 Get a few of those houses that are a quid in those northern pisshole areas and get packed to the gunnels with Cosovans 5 to a sq yard !!!.......jobs a good un. Tell you what, that Van Hoostraden would have nothing on me !! Lol Quote Link to post Share on other sites
loafer 49 Posted December 7, 2014 Report Share Posted December 7, 2014 Unlacedgecko your plan is flawed to say the least , the houses at 20k are 20k for a reason they will need at least 10k to bring them up to scratch, the market in these areas are all ready over subscribed. The rents are paid direct to the tenant and not the landlord, so you will be chasing it in more cases than not. When properties are empty you pay full council tax from day one then after six months one and a half times it. If you don't bring the property up to scratch you will constantly be maintaining it this is were the letting agents make there money unless you do it all your self they charge ten per cent management plus your repairs one months rent finders fee plus set up and contract .In some of these areas you also have to purchase a licence to rent from the council. This applies in the Burnley area. The BTL mortgages will not lend on less than 40k if my memory is correct .Your figures will not add up as you plan anybody making 8 per cent around Burnley would be doing very well ,the headaches in this lower end market are well known a lad from Northhampton has houses up here one of them has had the boiler removed three times another one whilst empty had the floor pinched. I could tell lots of these tales. But on a positive note good luck. 1 Quote Link to post Share on other sites
unlacedgecko 1,467 Posted December 7, 2014 Report Share Posted December 7, 2014 Unlacedgecko your plan is flawed to say the least , the houses at 20k are 20k for a reason they will need at least 10k to bring them up to scratch, the market in these areas are all ready over subscribed. The rents are paid direct to the tenant and not the landlord, so you will be chasing it in more cases than not. When properties are empty you pay full council tax from day one then after six months one and a half times it. If you don't bring the property up to scratch you will constantly be maintaining it this is were the letting agents make there money unless you do it all your self they charge ten per cent management plus your repairs one months rent finders fee plus set up and contract .In some of these areas you also have to purchase a licence to rent from the council. This applies in the Burnley area. The BTL mortgages will not lend on less than 40k if my memory is correct .Your figures will not add up as you plan anybody making 8 per cent around Burnley would be doing very well ,the headaches in this lower end market are well known a lad from Northhampton has houses up here one of them has had the boiler removed three times another one whilst empty had the floor pinched. I could tell lots of these tales. But on a positive note good luck. Thanks for the encouragement. Quote Link to post Share on other sites
Qbgrey 4,363 Posted December 7, 2014 Report Share Posted December 7, 2014 You better of buying a reasonable priced house in a area free of unemployment.good Tennant's.good rents less hassle.and house price rise too. 1 Quote Link to post Share on other sites
Lab 10,979 Posted December 7, 2014 Report Share Posted December 7, 2014 If I had a decent lump of money id no exactly what I was going to do with it. Id buy the biggest building i could in Aberdeen and change it into apartments and rent it out. The money up there is unreal and during the week you struggle to get anywhere to stay. I would have a restaurant in it and I'd have a bar in it with strippers as well. Make a f***ing fortune! Quote Link to post Share on other sites
albert64 1,882 Posted December 7, 2014 Report Share Posted December 7, 2014 labs right, I was in Aberdeen the other week £175 a night with no f***ing brekkie Quote Link to post Share on other sites
treecreeper 1,136 Posted December 7, 2014 Report Share Posted December 7, 2014 (edited) House prices in aberdeen rising quicker than london according to the news the other week. I was up there a few week back and the bloody traffic isn't far off either. Edited December 7, 2014 by treecreeper Quote Link to post Share on other sites
the monkey 342 Posted December 7, 2014 Report Share Posted December 7, 2014 I,ve had mates that have bought bargain houses in run down areas. You have to have builders willing to live in or as quick as you put copper pipe,radiators,boilers etc it will be all gone one night Quote Link to post Share on other sites
dare 1,103 Posted December 7, 2014 Report Share Posted December 7, 2014 Cheap property with an investment in some vietnamese gardeners might be a better plan then lol Quote Link to post Share on other sites
steve66 3,769 Posted December 8, 2014 Report Share Posted December 8, 2014 Silvers cheep at the mo ,don't think you make any real money from it though Quote Link to post Share on other sites
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.