Tuesday, Mar 24, 2009
Comedy Club chief reveals 50% off residential property sale
FT: Assetz reveals grand property endeavour
"People seem to realise the UK is pretty close to stabilising in the residential market and are trying to invest," he said. "Most housebuilders won’t listen to individual investors - you might be able to buy two or three units and even get a good price, but we have the ability to get a lot more due to our relationships with the companies and our experience.
"We can acquire assets that are already 40 per cent off, but as we can complete the purchase quickly, we can easily get another 10 per cent on top of that knocked off the price."
Posted by jack c @ 08:11 AM (1091 views) Add Comment
8 Comments
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1. crunchy said...
Fill your boots folks!
2. nubbers said...
I wonder if any of the properties will turn out to be reposessions from previous clients?
3. quiet guy said...
I suppose this is a taste of the kind of thing we will be hearing a lot about when there is credible evidence of a bottom to the market - BTL investors looking for easy money. Of course, Assetz don't really care whether the market goes up or down or whether their investors make money or not because they just take a cut for acting as a middleman. Investors who lose money on this only have themselves to blame. Not pretty.
4. quiet guy said...
@nubbers
LOL
5. it_is_going_with_a_bang said...
"distressed property fund"
You can take that a number of ways.
6. Fly By Night said...
If they can get such good deals, then why pass them onto others? Why not keep the deals for themselves? The answer is obvious, and the question and answer apply to all get-rich-quick-schemes.
7. mr_smith said...
well I think it doesn't sound that bad. the main thing against believing him is that he has been predicting the end of the property crash in three months ever since it started.
However, if you do believe it is close to stabilising then a fund like that might be quite good. like a market tracker for property. seeing as you couldn't get a BTL for 10k deposit now and you would have a lot of risk (bad tenants, by a dodgy flat in a dodgy location etc..) it does seem a good way to spread the risk. however if you buy now you might get the single figure yeilds he's talking about (which is not bad) but you might also get a 20-30% captial depreciation in the short term. not good.
still you'd have to say that as all the houses will still be there it can't go totally tits up. I'd be interested to know what the charges are on their fund though. High I'd bet
8. mr_smith said...
well I think it doesn't sound that bad. the main thing against believing him is that he has been predicting the end of the property crash in three months ever since it started.
However, if you do believe it is close to stabilising then a fund like that might be quite good. like a market tracker for property. seeing as you couldn't get a BTL for 10k deposit now and you would have a lot of risk (bad tenants, by a dodgy flat in a dodgy location etc..) it does seem a good way to spread the risk. however if you buy now you might get the single figure yeilds he's talking about (which is not bad) but you might also get a 20-30% captial depreciation in the short term. not good.
still you'd have to say that as all the houses will still be there it can't go totally tits up. I'd be interested to know what the charges are on their fund though. High I'd bet