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  • Property-a-holics

    Anyone bought recently?



    By recent I mean say this year?

    If not, do you have any plans to buy, and if so, what, and when?

    Me, I'm out of the game for a good few years now. I'm into paying back my PPR mortgage (then onto the BTLs) which feels good as I want to be unencumbered by the end of the mortgages (approx. 19 years).

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    No.  We've sold 4 properties in the past 3 years!  

    I sometimes get tired of the constant endless emails saying things like ... The washing machine has broken down, the tenant has handed in their notice, the tenant has decorated one of the kiddie's bedrooms with Peppa Pig wallpaper, the boiler has broken down, the tenant's direct debit bounced, there is mould in the bathroom ...... not to mention all the invoices for service charges and ground rents from flats!

    They seem to come in 3's, but less so now 4 properties (all flats) have been sold. Smile

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    Interesting you say some of the reasons Vanessa. I've found that due to tenant selection and guarantees (eg. extended guarantees and British Gas) I've managed to reduce those sort of calls. I find that having the BG services available online whereby I can book up with the tenant for when they'll be in saves a wasted journey and a lot of hanging around. 

    Mind you, womens hair clips seem to be a regular feature in the pump at the bottom of the washing machines. I'm getting quite good at removing those now!

    I've not invested in flats for the reasons you've mentioned so thankfully those aren't an issue. £2.5K to redecorate the communal areas of a block (I nearly bought in) when I could have done it for £500 all-in has put me off those little money-makers ;->


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    Hi Adam


    I am in the process of buying a few at the moment, new build two and three bed houses in Doncaster and North Wales, 7% yield.


    Paul

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    Haha V, I know exactly what you mean....

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    I haven't purchased in nearly 3 years

    I have my Business now and I am going to enjoy the freedom it brings me

    I cant see any good reason to buy more now

    The tides are against us at present


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    Learn Change and Adapt ?????

    Everybody that I know has been rationalising their portfolio in line with the comments^^^ . I put it down to my age, and hence the age of the people I know. Clause 24 is only the cake icing, most had decided on rationalising years ago. Once you have a large portfolio attention turns from building it to running it, and that fabled myth "Passive Income". The closest you come to that is a small number of high quality unencumbered properties.

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    I think the Age factor is correct when you think BTL is going to be 21 this year

    Most of us who started then will be cracking on to 60 ish and as I age I just don't have the fire in my belly at present for more to be honest

    There comes a time to stand back and enjoy life and stop striving

    I have had great opportunity but I don't think new Landlords will have the same ride as I have when money was easy to borrow and build a large Bussiess

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    Learn Change and Adapt ?????

    Interesting point about the age of BTL!

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    I'm actually looking to increase my portfolio. I had an offer accepted on a 2 bed in London (E3) which should complete in 4 weeks, and I'm actively looking to purchase another 3 or 4 units this year. As I'm only looking in East London (E1, E3, E14, E16) I'm finding it extremely difficult to get value - looking for 5.5% ROI.

    What annoys me is the steady list of agents sending me details of 'fantastic' opportunities with a yields of 3% and then wonder why I'm not snapping them up

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    I've recently made an offer on a doer upper near me. If I get it the legals and works will take a few months, after which I'll decide whether to let, holiday let or sell - depending on the latest from the government!

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