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House Price Crash Forum

property flipper

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About property flipper

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    HPC Newbie
  1. interest rates going down what ducking planet are you on. If rates are set to drop why are banks forcing companies to hedge there borrowing cost .
  2. [The bank will not revalue the house unless the borrower is in default, the bank borrows the money on the market for the term of the fixed rate period at the onset of the mortgage at a fixed rate, they may not lend you any more money but they are not going to call in a portion of a loan.
  3. We think a new tax needs to be imposed on people how rent property from buy to let investors to creat a fund to bale out landlords how have over strectched .
  4. [] Hrm, maybe you could also steal some candy from a child whilst you're going about that task. great idea ,dont you realise when prices crash you will be buying houses from people like this poor chap
  5. [trying to find his name in phone book now, do you think it is to early to make him a low offer on his house he may be desparate to sell, will he work again, ageism is illegal, bring it on bring it on.
  6. we buy a lot of property in london auctions from mortgage companies . we can normally get 30% of the agents price , more if it does not sell in the room .
  7. [we still have loads of buy to sweat investors out bidding each other for property with rental income in place but it is getting harder to sell property which is empty and needing refurb
  8. what great news loads of desparate sellers in warwick i smell doom and gloom. Hopefully a few repo,s coming up . bring it on bring it on
  9. [if the market drops 30-40 % no one will have the confidence to buy.The banks will not lend any more money and may even call in loans . bring it on repos will be ever where.
  10. We have bought 2x houses in south wales 1 in porth for £22k, 1 in abercynon for £18K both are let at £300pcm can they realy fall that much. Both were purchased from local agents with in the last month and are in reasonable condition for the valleys .
  11. The rise in rents may be due to a small mortgage book in that area, and landlords selling rough houses in favour off new city centre flats which acheive more rent.
  12. I am the director covering South wales. Most of the btlers remortgage there own house to raise a deposits. They borrow 85% on a interest only loan. Some use unsecured loans to get there 15% and i know of 2 cases of people using credit cards. These were builders who refurbished the property and remortgaged very quickly at a higher value. The people being repossessed with the 18 properties have remortgaged and remortgaged to grow there empire but now prices are falling there is no more easy money, they are crap at being landlords so they will go under,(no tears please) . The mortgage companies get around the rent figures by taking a veiw on the whole portfolio not each property. At present they are desperate to lend to any one. We always try to sell our properties as the tenant moves in so we are not really involved in long term letting, but 8-10 tenants to 1 house sounds a nightmare .Good yeilds can be had in poorer areas with family tenants but you have to look hard , know your trading area and be very persistant my strike rate is for every 100 veiwings i may get 4 houses at best.
  13. I will offer you 2 mars bars and a bag of chips if you can exchange this week
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