X

Sign Up

or

By signing up I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Sign Up

Sign Up With Facebook, Twitter, or Google

or


By signing up, I agree to Property Tribes Terms and Conditions


Already a PT member? Log In

Log In

or


Don't have an account? Sign Up

Forgot Password

To reset your password just enter the email address you registered with and we'll send you a link to access a new password.


Already a PT member? Log In

Don't have an account? Sign Up

  • Section 24 HQ

    Landlords being repossesed

    This week my phone has rang twice from Estate Agents asking if I was interested in purchasing  Two Ex BTL properties ??

    Both are below value by around 10% and would rent well

    This is the first time in quite a few years I have been contacted about repo property

    there has been nothing for some time ???

    I have to ask the question why >? is it just a Landlord who has not been paying there mortgage or is it Landlords handing back the keys because of S24

    I will be keen to see who buys the property

    will it be another Landlord or a FTB

    it will be interesting to see what they do sell for

    0
    0

    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.

    Yes same here  - I haven`t seen a repo for a long time  let alone a LL repo

    Landlord cannibalism wont be  pretty -   but someone has to do it

    0
    0

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

    It will be interesting to see if I have more calls

    the property's are below value but not a lot BMV

    lets see who buys ??



    0
    0

    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.

    Both would yield 11% and rent till the cows come home ??


    0
    0

    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.

    You`re tempted I sense.....

    Trouble is... 10% BMV  in Jan could become in fact  MV in Feb  if they are not sold


    0
    0

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

    old habits die hard

    I have just ran the figs and doing this via a company just doesn't make sense

    If every thing ran to plan you I could make £2200 profit a year  for a cash injection of 16K st

    But If I wanted the income I would pay over 50% tax that brings it down too 1100 net

    I could invest in an Isa and get 8% JC with no work

    This is my dilemma It wont bounce in price and rents are not going up a lot

    so really bottom line is £1100nett for a 16K investment and that's if its rented 365 days a year with no repairs




    0
    0

    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.


    You need to put in an offer 25% BMV

    See what happens

    You haven't much to lose

    There is no love between LL

    It is a war.

    If you can take advantage of another  LL  then you should.

    It is nothing personal it is just business

    0
    0

    I think we all have to be a bit careful comparing returns from property with investment in shares.  The latter are doing exceptionally well at the moment but that can all change very quickly. I  know someone who was once a millionaire on paper in shares and now has nothing.  The old advice to spread your options and take nothing for granted still holds good.

    1
    0

    I have to agree before S24 I was 100% property and look whats happened

    Now I am building my pensions and ISA investments to have a foot in both camps

    long term both do well

    A crash in both sectors can be a purchasing time


    0
    0

    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.

    Can you please talk me through how to get an 8% return from an ISA, I know nothing on this subject and a googling shows pathetic returns.

    I've had a sum sat in the bank from the sale of some land over a year ago, it would have been reinvested quickly but for the government meddling etc but I cant stand to see it just sat devaluing there any longer.

    0
    0

    Interesting conundrum you face.

    I reckon there are many like you in the same situation..

    Personally  if I had rental properties  I would do the simplest  thing and try to remortgage to an offset one and then put all the spare funds you have into the offset account. .So you will have reduced S24 effects and you will be earning gross on your offset savings what your mortgage interest rate is.

    That is the safest approach .Invest in your own debt but have immediate access to the funds if you want using the offset facility.

    0
    0