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Prices for terraced properties are dirt cheap in Burnley. So tempting. No doubt the cash flow would be great!Any investors in Burnley to give us the pros and cons?Seems like a no brainier..........
Regards Simon Searchlight Finance
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(18-05-2013 06:13 PM)Simon Allen Wrote: The higher the yield the greater the risk of not getting your capital back. There are plenty of decent people in Burnley and surrounding towns but there are also many social problems.
If you are considering investing in an area there is no substitute for visiting it during the day and at night and then you will have your answer.The prices are low for a reason.
(18-05-2013 06:13 PM)Simon Allen Wrote: The higher the yield the greater the risk of not getting your capital back.
Jonathan Clarke. http://www.buytoletmk.com
(18-05-2013 09:22 PM)Jonathan Clarke Wrote: [quote='Simon Allen' pid='94073' dateline='1368897194']
The higher the yield the greater the risk of not getting your capital back.
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Whatever you do, avoid Sixsmith scammers promising to find you a property in Burnley, Salford and similar to buy, do the building work necessary to set up as a multi-let and manage the property for you with above average returns. Scammers take your money in traunches and do little work and when you finally work out they are stealing from you they disappear. Even if you inspect their 'previous' properties its not enough. Burnley is a great place and desreves proper investment - these type of promises should be avoided.
When I started property investment about ten years ago, Burnley was one of the places where "you could make huge profits quickly", but within two years it was a place to avoid due to CPO and the high number of rentaldefaulters.
The same became of Hull around the same time as well.
Investing is all very well from an armchair and hoping that he people you are using are trustworthy, but nothing replaces a day or two walking teh streets and having a look yourself!
The Burnley Local Plan has identified 34 sites across the borough – a mix of brownfield and greenfield – to build the houses which include detached, semi-detached and sheltered housing.
Some of the most prominent brownfield sites include the former Baxi and Perseverance sites in Padiham, Lambert Howarth in Finsley Gate and land at Burnley General Hospital.Full/source story
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