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King_Nick

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About King_Nick

  • Rank
    HPC Newbie

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  • About Me
    Property investor, developer.
  • Location
    London
  1. @RandomBear. Agree with this, I am seeing this alot in prime areas of London (Knightsbridge, Kensington etc), Estate agents have been listing property either bang on its market value or very close to, normally being bullish they'll price it up hoping it will stick but in most cases the offer will be withing 5-10% of the asking price. Of course in the current market, its a bit of a scam still, because there is no stock on the market, they're attracting lots of bits and people are competing I saw a four bedder go last week listed at £975k for over £1m. So they're still getting their fees paid,
  2. Sorry to hear that. Don't get too disillusioned, its January, which is slow at the best of times and the SE as mentioned has a real problem with supply at the moment, at least to estate agents anyway WIll very probably start to pick up again mid to late February and into Spring.
  3. You'll essentially be a landlord with a rental income from investments, yes you're liable to pay tax on these and capital gains if you sell. You need to get advice from an account/tax specialist on your particular situation. If its through a sole trader you'll still have to pay 40% if you go over the threshold if you want to draw out the funds personally. However, there is a plus side, which is that you can offset your costs against your income. You can put in all your investments, interest from finance, professional fees, your own time, your travel expenses and then you only pay taxes on t
  4. Have you looked on mouseprice.co.uk and nethouseprice and tried to see what other properties in the street / area of similar size are selling for? Despite what the estate agents are saying you can get bargains I do it for a living but the vendor needs to be motivated to do so, which normally means they need to move quickly for some reason or another and your advantage is your not in a chain. If they're in no hurry to move and want to wait to the right offer, then you'll need to be fairly close to what they're looking for. Having an idea of what other properties are actually selling for can h
  5. One other things, if you can try to get the exact size in square foot of this and like properties for sale or recently sold, then you can work out price per square foot averages. This is the most accurate way to work out 'market value', this will also help you work out a rough idea of how much extra an extension value might add for example. Say for arguments sake the other property that sold for £480k was 1,500 square feet, then you can work out the price per square foot at £320. If you added a roof extension which gave you a whole new floor adding 500 square feet. That is potentially £160k
  6. £420k? + £60K renovations makes the full market value of the full market value of another sale, that would make sense how they've come to list it at that price, personally I think a property that needs renovation should be going for less than that. Try to find out exactly what the vendors situation is, if with agents they'll be reluctant to say but ask anyway, be indirect if you need too. Find out if you can if they have had any other offers? If not, why not? If so, why did they fall through? How long has it been on the market? If its on with more than one agent, ring them both up and make
  7. Hey, Probably a bit late for you now. I rented before Christmas and looked in Barbican, Old Street and a few places around Docklands including PP. I also work as a property investors, so have done due diligence on PP before too for a client. The additional things like the gym and pool etc are easy to blag more money from renters, but you still might be better looking else where and working out the cost of paying for a gym is more or less. Its not free, the owners of properties pay for it in high service charges. I haven't done extensive work but my basic findings were lots of buy to let
  8. Hi All, First post on these forums and I thought I'd dive straight in. I was actually searching for info on buy to let investments +2010 +Stratford and came up with a indexed post from 2006 in this very forum and I thought why not come in and have a chat. A friend of mine has bought property in East London, very close to the Olympic Village area, her investment strategy is a little simplistic for my liking and she only has one option which is capital growth because she bought at near to market value and the rental yield is low or zero after costs.The property is a two bed which is already
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