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Nil Crede

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About Nil Crede

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  1. Thanks for the advice... However, the reason I am interested is because I own an identical block not far away, and have had pretty much trouble-free renting for 8 years [97.5% occupancy, only occasional minor damage]. I think they're a good [in fact, a brilliant] investment, and I'd like another! And far from the tenants being bolshie, they have fairly low expectations, which suits me fine. I have had very few problems with DSS tenants. The problems I have encountered are with working tenants, and I am resolved never to take working people again! One thing you said which intrigued me is about the Council. Why would they be interested? - they sure aren't interested in the one I own, which is another ex-LA block, resurrected from dereliction by its first owner about 13 years ago... A block of six flats would pull in another £28k a year - not to be sniffed at. If I offered £10k a flat, plus £5k refurb a flat I'd be looking at £105k capital growth on top of the rent. Don't tell me I wouldn't. I could show you identical stuff that achieved that at auction within the past few months. The yields are fantastic. I know this market well...
  2. I wonder if anyone can estimate the costs of the following. There may be an opportunity for me to purchase a small block of six 1-bedroom ex-local authority flats in an unsalubrious corner of the North West... They are boarded-up and may have suffered slight fire or water damage in some parts, but the building and roof seem structurally sound, and imho could be refurbished. 1. Purchase cost/offer. Refurbished and tenanted @£85-90 per week, each flat would fetch at auction around £32.5k, so a block of six might fetch just shy of £200k. What would I offer for the shell as it stands? I'm estimating less than "half-price", but how much less? 2. The flats are very small, around 30 m^2 each. How much for a very basic refurbishment per flat? £5,000? Any pitfalls to look out for?
  3. I wonder if anyone can estimate the costs of the following. There may be an opportunity for me to purchase a small block of six 1-bedroom ex-local authority flats in an unsalubrious corner of the North West... They are boarded-up and may have suffered slight fire or water damage in some parts, but the building and roof seem structurally sound, and imho could be refurbished. 1. Purchase cost/offer. Refurbished and tenanted @£85-90 per week, each flat would fetch at auction around £32.5k, so a block of six might fetch just shy of £200k. What would I offer for the shell as it stands? I'm estimating less than "half-price", but how much less? 2. The flats are very small, around 30 m^2 each. How much for a very basic refurbishment per flat? £5,000? Any pitfalls to look out for?
  4. Nil Crede

    Isle Of Man

    The link is http://www.iomtoday.co.im/your-shout/Econo...lems.4662528.jp Could you tidy-up/delete some of your failed links, Phillipe?
  5. Nil Crede

    Isle Of Man

    Is the Isle of Man the one true property safe haven? http://www.propertycommunity.com/emerging-...safe-haven.html
  6. Probably a Stamp-duty or CGT fiddle. I don't believe they ever sold at the recorded prices....
  7. Flat 10, Marina House, 13 Cambridge Road, Liverpool, Merseyside £49,000 http://www.mouseprice.com/PropertyDetails....nViewID=6145212 At the height of the madness these studio flats touched £100k http://www.houseprices.co.uk/e.php?q=l22+c...+road&n=100 this one failed to sell in the auction at £49k As recently as 2003 they were changing hands at around £20k Is this they type where we'll see the supposed 80% drops? And make no mistake, this is in a very nice area - Crosby/Waterloo, one of the poshest places in the North West....
  8. See how the sheeple are told he is "a Russian oligarch"...
  9. Nil Crede

    Isle Of Man

    link http://www.hbosplc.com/economy/includes/16...ofManQ42008.doc
  10. Nil Crede

    Isle Of Man

    According to the HBOS figures released today, IOM house prices bounced back in fourth quarter 2008, with quarterly growth of 1.7%, leading to annual growth of 2.2%... Steady as she goes, then...
  11. Can you expand upon this? How can you make it a condition if [AFAIK] since April 2008 it is a statutory rule that the Council cannot pay Local Housing Allowance direct to the landlord (unless the tenant falls 8 weeks into arrears) ?
  12. Nil Crede

    Isle Of Man

    Prices dropped by 1.5% in the last quarter, and the annual rate of increase has flattened... http://www.hbosplc.com/economy/includes/17_10_08_IsleMan.doc
  13. Thanks for this. Heads-up on a new Merseyside Auction House holding its first auction in 3 weeks time. http://www.mpalimited.co.uk/index.asp
  14. I belief you are quite correct in your analysis. It sounds like an example of Simpson's Paradox. http://en.wikipedia.org/wiki/Simpson%27s_paradox
  15. The legal docs say they paid £204k for it in November 2002. Now they think the "market value" is £500k
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