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Btl As A Business


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#31 shifty_FTB

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Posted 07 November 2011 - 03:04 PM

I wouldn't buy there because mort of it is a shi**ole


well there is that too :rolleyes:

#32 yadayada

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Posted 08 November 2011 - 09:41 AM

Yep lots of ROI BTLers. I also know three personally who own in the holy lands. One has been trying to see for monts and months. No chance because 1: that ship has sailed and 2: they are shit holes.


Every chance of sales if prices are dropped enough - slash it, they will come.
I'd say 40,000 a go would get them shifted - that's where I'd be buying anyway. What do others think?

Drunken street football at 3a.m., anyone?

#33 shifty_FTB

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Posted 08 November 2011 - 10:17 AM

Every chance of sales if prices are dropped enough - slash it, they will come.
I'd say 40,000 a go would get them shifted - that's where I'd be buying anyway. What do others think?

Drunken street football at 3a.m., anyone?



dont think they will go down to 40,000 ever. some of these have 8-10 bedrooms so obviously used a student houses with a sink in each room, would probably have to gut every room, im not a builder but i'd imagine it would cost a lot

#34 2buyornot2buy

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Posted 08 November 2011 - 10:48 AM

dont think they will go down to 40,000 ever. some of these have 8-10 bedrooms so obviously used a student houses with a sink in each room, would probably have to gut every room, im not a builder but i'd imagine it would cost a lot


The vast majority will be the 3-4 bed conversions with one of the "bedrooms" being down stairs. I think 40K is pretty realistic. The were previously 2 up 2 downs. Again it is a shithole with lots of vacant properties.

#35 yadayada

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Posted 08 November 2011 - 11:04 AM

The vast majority will be the 3-4 bed conversions with one of the "bedrooms" being down stairs. I think 40K is pretty realistic. The were previously 2 up 2 downs. Again it is a shithole with lots of vacant properties.


High vacancy suggests a low demand - can this be right? Either that or the landlords' idea of rental values is too optimistic.

Now that it's going to cost dozens of thousands to get through Queen's, I'd expect more students to be going home to Mammy in the evenings, which is going to lead to a decreased Ballystudent population. And postponed loss of virginity.

Edited by yadayada, 08 November 2011 - 11:05 AM.


#36 Shotoflight

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Posted 08 November 2011 - 12:25 PM

http://www.nihe.gov....ousing_benefit/

During 2010/11 we paid out a total of 573.3m in Housing Benefit. 211.9m was paid in respect of public sector claims and 361.4m in respect of private sector claims (this includes payments for housing association tenant claims).

This was an increase of 10.7% over the previous year. The number of people receiving Housing Benefit increased by 4.3% during the year to a total of 156,991 (68,121 in Housing Executive tenancies, 22,395 in housing association tenancies and 66,475 in the private rented sector).

In addition, a further 2.2m was paid to 17,867 Rate Relief claimants and 0.5m was paid to 4,147 Lone Pensioner Allowance claimants.

We continued our efforts to reduce the level of fraudulent claims and during the year 276 cases were referred to the Benefit Investigation Service of the Social Security Agency for investigation.

The level of overpayments increased from 23.4m to stand at 26.9m at the end of the year. During the year overpayments amounting to 18.4m were identified and 13.1m was recovered with a further 1.8m being written off.

#37 PJ1977

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Posted 09 November 2011 - 06:34 PM

I presume that if David Ford's prison reforms go ahead there are going to be a bunch of yield hungry ex-Screws putting their tax-free bungs into BTL?

#38 Malthus

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Posted 09 November 2011 - 07:16 PM

I presume that if David Ford's prison reforms go ahead there are going to be a bunch of yield hungry ex-Screws putting their tax-free bungs into BTL?


Was thinking the same PJ , could be the last chance for savvy investors to find a greater fool
"You only find out who is swimming naked when the tide goes out." Warren Buffet

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#39 nigooner

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Posted 10 November 2011 - 09:46 AM

I have a few BTLs, purchased in the last few years.they are new builds that yield about 11-12%. They are on repayment mortgages over 15 years.

I can safely say that the profit from them would not be enough to call it a 'business',even if I had 30 of them!. They are a long term investment that will make little profit until the mortgage is paid off.they are an investment that will provide a nice income in 15 years.

Unless someone has a large portfolio,probably 50+ houses,I don't know how they can rely on them for a good income today.and that's even if they are interest only,repaid over 25 years.

#40 2buyornot2buy

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Posted 10 November 2011 - 10:16 AM

I have a few BTLs, purchased in the last few years.they are new builds that yield about 11-12%. They are on repayment mortgages over 15 years.

I can safely say that the profit from them would not be enough to call it a 'business',even if I had 30 of them!. They are a long term investment that will make little profit until the mortgage is paid off.they are an investment that will provide a nice income in 15 years.

Unless someone has a large portfolio,probably 50+ houses,I don't know how they can rely on them for a good income today.and that's even if they are interest only,repaid over 25 years.


Repayment over 15 years and yield 12%. New builds???? What did you buy repos? I seriously haven't saw one single new build in any of my markets that would yield 12%.

#41 nigooner

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Posted 10 November 2011 - 11:08 AM

They were new builds about 4 years ago,just never been lived in.

#42 2buyornot2buy

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Posted 10 November 2011 - 11:18 AM

They were new builds about 4 years ago,just never been lived in.


Repo I would imagine then? Or they we going to be repos?

#43 nigooner

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Posted 10 November 2011 - 11:20 AM

Repo I would imagine then? Or they we going to be repos?


Yea they repos,but had been repod for a considerable amount of time!

#44 2buyornot2buy

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Posted 10 November 2011 - 11:23 AM

Yea they repos,but had been repod for a considerable amount of time!


Yeah I was wondering. No chance of getting that yield on any newbuild that wasn't a repo.

#45 house67

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Posted 11 November 2011 - 12:19 PM

Do you mean these dodgy 3 bedroom houses sale agreed a few days ago in the Ballymena area?

http://www.propertyp...dential&st=sale

House 1, 3 bedroom house 50k DHSS tenant 94.33 per week 4905 pa + rates @ 608 pa total 5513 pa Gross yield 11%.

House 2, 3 bedroom house 48k DHSS tenant 94.33 per week 4905 pa + rates @ 376 pa total 5281 pa Gross yield 11%.

House 4, 3 bedroom house 40k DHSS tenant 94.33 per week 4905 pa + rates @ 645 pa total 5550 pa Gross yield 13.8%..

Minimum gross yield of 11% assuming the property sold for the asking price,sounds ok to me. But I would buy at auction or direct from the bank (i've been offered a few like for around 30k ish each.

As for lots and lots of BTL's in Ballymena. There's no more than in other similar areas.

Larne Area 58 available
Ballymoney Area 63 available
Ballymena Area 65 available
Carrickfergus Area 73 available
Coleraine Area 381available (big student area)


So which bank is offering btl houses at 30k then ?




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