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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
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
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 ??
Both would yield 11% and rent till the cows come home ??
You`re tempted I sense.....
Trouble is... 10% BMV in Jan could become in fact MV in Feb if they are not sold
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
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
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.
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
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.
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.