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Any views on good spec house but not so good location?
How much should one weigh the location against the house within? The area is off main road near facilities but considered dodgy.
How does one peg one's price based on that?
Don’t do it!
the spec can be changed, a dodgy location will probably stay dodgy, and good tenants will avoid it no matter how nice it is inside
I have someone who is in the business of short lets and not really bothered about area as long as it is within 2 miles to city centre.
He is happy to give me a good rent guarantee pcm.
So considering that, how much can I offer? Asking price is 170k.
Fourth bedroom is 18ftx5'9"!
If you go on this forum for advice, you should then pay attention to the advice you are given.
dont do it !,,
Yes you are right. Advice on this forum has been really helpful.
Vendor pricing expectation is hard to overcome sometimes when they think their interior is the bees knees
I can pick up plaster, paint, a kitchen and a bath and move it in and around to add value
But try as I might i cannot pick up a whole house and move it elsewhere even if the land registry would let me
So choose 3 out of the 4
Good location grotty condition - yes
Good location good condition - yes
Grotty location grotty condition - yes
Grotty location good condition - no
Jonathan Clarke. http://www.buytoletmk.com
So the house is well done up..
The location is good as in 2 miles from city centre..Area has its dodgy aspect but HS2 is coming soon.
There's an old saying. Buy the worst house in the best road. Therefor the reverse applies.
I am more concerned about your friend offering you a "guaranteed rent"!I cannot believe anyone would consider buying a substantial asset on this basis.How long has your friend been in business? What is his track record? How is he able to guarantee the rent? What do his financials look like on Companies House? What happens to the asset you bought on someone else's hearsay if that person goes bust?"Taking someone's word for something" is one of the most risky things an investor could ever do imho.I would re-think your whole approach to this to avoid potential financial loss.
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
I agree with what you say..I am working my financials out on the basis of the conservative rent offered by the lettings agent.