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waitandsee

Hmm

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Another BTL'r bails out. At an average of over £100k for each unit (including bedsits) in Reading I predict a huge cut within a month.

VP

You can get a one bed room 'luxury apartment' (certainly more luxurious than a bedsit anyway) for much cheaper than £118k with all assortment of accessories thrown in, and we're not even talking a bulk purchase.

How much rent would a bedsit generate in a week, £60?

The land lord may have been retained under a local authority/immigration service lease which has now expired, they made a blunder in signing fixed 3 year leases a few years back without get out clauses.

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been told by a reliable source that a landlord in wales is in the process of offloading over 300 properties.

also saw in the metro today a landlord selling a whole street somewhere up north for 2.5 mill, being rented out for 180k ish pa.

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been told by a reliable source that a landlord in wales is in the process of offloading over 300 properties.

also saw in the metro today a landlord selling a whole street somewhere up north for 2.5 mill, being rented out for 180k ish pa.

At least that is a viable yield, 180k/2.5 mil =7.2%.

But why didn't these guys get out when the mortgage approvals fell?

Were they waiting until they were sure prices were dropping?

Not the smartest thing to do, considering Joe Soap has figured out the same thing.

I remember a Times article a few months back, BTL fool saying he could just sell if it didn't work out.

Well welcome to the real world, in a housing bust you can't sell property unless you're prepared to cut the price drastically.

It's no fun being in BTL...

Edited by BandWagon

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  • 335 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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