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George Abdgwengo

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About George Abdgwengo

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  1. Never been a better time to start TMT, I'm looking to buy another now. One thing I have found, is that the trades are getting cheaper if you get a few quotes, as are the kitchen/plumbing/builders merchants. I enjoy a bit of DIY, but I've learned that a good painter and decorator makes all the difference. You could even just project manage, and outsource all the work. The hard part is finding the bargains, the easy part is selling a newly refurbished house cheaper than the delusional sellers in the area, with their 1970s bathrooms.
  2. We STR'd early 2009, accepting a few grand off the Dec 2006 purchase price of a house we should never have bought. Instead of earning 1% in the bank, we invested our equity in....wait for it....... property. I'm as bearish as they come, and still waiting for prices to drop, but it seemed there was money to be made in the meantime. I've bought and sold 3 houses over the last 3 years in Swansea East, making a modest 20-25% each time. We buy cheap, fit a new kitchen / bathroom, give them a lick of paint and sell them cheap. We are now in a position where we can buy cash at auction. Don't worry, I won't be buying a Range Rover, I just want to get to the point where I can buy a nice family home with as little or no mortgage as possible. The way I see it, every pound I put towards it, is actually worth over £2 over a 25 year mortgage. What's the general consensus now in Swansea? I haven't seen any significant drops around here. Probably because everyone who actually works, works for the government?. Asking prices are still ridiculous. People are asking £140k for houses I'd only ask £125k for refurbished.
  3. That guy with the N2GEL plate and the £1000 merc was just strange - Google N2GEL and have a look at his myspace page and his optimistic domain name pricing
  4. Pretty much the whole credit crunch / recession summed up in a 90 second sketch - excellent.
  5. I almost bought a house where a two storey extension had subsided, then underpinned at a cost of £60k to the insurers. Why they didn't just knock the extension down and rebuild for about £20k I don't know. Anyway, I found that I would only be able to get buildings insurance from the insurer who paid the claim for a period of 10(?) years without further movement. Walked away, didn't even take my barge pole with me.
  6. Yeah, I've just never seen them in the property post like that - normally hidden in the bowels of the paper.
  7. Only really noticed these tonight in amongst the usual adverts - tells you the address and how much has been offered. Feb 24th 2009: John Francis: 10 Peter Alan: 2 Clees: 2 Some agents only advertise every other week thesedays, so these notices will be tucked away in the Saturday classifieds.
  8. Bugger. Could have sworn I've seen houses listed on there that I knew were repos. Criminal!
  9. There's a Repo round the corner which completed mid December for £129950, sold (new build) in June 2006 for £163,500 (-20.5%) - there's at least 2 others within a stone's throw going through atm. Not showing on houseprices yet, but I think it can take upto 12 weeks for the figures to reach Land Reg - so 2-3 months from now we could be in for some big drops.
  10. Where? We had 4 in a week beginning of the month here in Swansea, 2 offers and a sale agreed. Fingers crossed 3rd time lucky. Thank god for dead cats
  11. UK troop withdrawal from middle east etc next 12 months + massive recruitment drive to police and armed forces in next 12 months = no UK riots in Summer 2010....
  12. Currently paying £930pcm on rental, will be paying £280/month on their interest only tracker mortgage... Why would you possibly take out an interest only mortgage in those circumstances?
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