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I came across the below on Rightmove:https://www.rightmove.co.uk/property-for...31434.html
It's not my patch but I know the area well Its a very popular area for Landlords who cater for LHA Customers and Its the first time I have seen an investor sell 21 properties in one go.
I am not sure why they are for sale
I do think Landlords are selling now but its been very slow sell of
This ups the pace for the area and it has to have an effect on the Price of properties where they are located
We are living in changing times.
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.
Is Tyne a good place to invest?
It can be but you need to know your streets personally I would not buy in the area that are listed here
it’s mostly selective licensing areas high yields but with lots of management issues potentially
I think this will be an out of area landlord selling up
It appears that way, doesn't it?
Why is this person selling? 8 of the 21 are vacant.. it seems there’s a clue in there somewhere.
If my guess is right it will not be a newcastle landlord
I saw the same in the last crash outsiders pile in and don’t relise the management implications
and they try and sell up
I spoke to one country wide landlord at the NLA and he said the only place he lost money was in Newcastle
its a very local market indeed
This one has just sold near me:
Only 10 properties, but it looks reasonable.
I’m interested when an entire portfolio goes up for sale.
It’s interesting to see what others have built and the incomes they get. It’s rare you get to see that detail in forum posts.
Looking at the brochure breaks down the properties and income against each.
The first 21x properties is a real mixed bag. I was surprised at how many flats were in there tbh. 5x E-rated properties so would need upgrading EPC-wise soon.
I personally wouldn't touch that lot with a bargepole!
The second batch of 10x properties looked far more attractive property-wise, not surprised they've sold as there's potential there.
I am not sure but the property I’m newcastle are in a selective licence area which has not been mentioned in The tenanted property
i don’t think a licence can be transferred so that’s a fee of around £400 per property
the orher issue is low EPC so more money would need to be spent on each property
this area is not a good area to invest in its full of management issues
if you move away from this area pickings are far better
it all comes down to local knowledge
I am surprised there is no mention on a selective Licence on the add I thought it would have been highlighted as the properties are being sold with Tenants
Yep, this is where your local knowledge comes in DL.
Have you found out a price for this as it says POA?
Rental income looks reasonable on the face of it, in that it's a good number on paper, but I'm sure it's been hard earned (as most investments are) to get to this point.