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  • Buy-to-Let

    Ex-council property suited to BTL?

    If I can get them at the right price I buy 3 Bed Council houses till the cows come home

    Great renters

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.

    One of my rentals is a 3 bed terrace ex LA 1945 home fit for heros type of build. It is on an estate where most of the properties are now owner occupied and it rents very very well. Zone 5/6 SE London. The same style of property in another location might be a different proposition. A 3 bed ex-LA house that rents for £1,250 in my area is about £200k cheaper than a 1930s non-LA build, difference in rent is about £350pm.
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    Yes love ex LA properties and they are good solid yielders

    About 30% of my portfolio are these

    Don`t love dealing with the LA though, but you cant have everything your own way in life


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    Jonathan Clarke. http://www.buytoletmk.com

    I’ve a 2 bed low rise flat, had it 20 years, in that time probably less than 6 months of void, paid 25k for it and realistically it may be worth 100k now, ( if i could find a buyer with cash or willing lender) any similar flat not ex LHA would likely fetch 140-160k. 
    The property is “managed” by an ALMO for the LA, over the years they’ve flattered their performance by putting anything off that they can and what has been done was on a “ lowest bidder” basis, as a result i’m looking at very substantial charges in the next few years.
    Quite a few similar places on the market, when the actual bills start arriving the value of these will plummet, if the council has any common sense they’ll buy them back, if they don’t opportunities may arise for cashbuyers.
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    Depends on the feel of the road. We like council houses, boxy but good. Some tenants, especially the young upwardly mobile ones that many hope to get, drive away when the realise its ex council.

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    I do like ex-council homes too and flats (in London). They rent out well and are reasonably priced. I would say before buying check that there are privately rented houses/flats on the estate, i.e. there is private rental demand in the area and not all properties are social housing. If that checks out then press on, I have found most people that grew up on the estates end up renting there to begin with and usually for 5+years. Capital appreciation does not miss the ex-council properties too as often stated. Although you may not get the same amount of capital growth as posher properties, you do find that there is sufficient growth to make it a great long term investment.

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