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Investment Portfolio Up For Sale

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Didn't read beyond the 'why property' section on the second page of the pdf.

Does anyone really believe that prices in N Ireland will double in next 7-10 years without hyperinflation in the wider economy?

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Thoroughly shitty for risk aversion or investment purposes but there's almost always a mug out there keen on buying crap properties in the middle of nowhere (or even in apparently attractive cities) relying on the government to support rent prices. Really bad investments even at low interest rates. Nice WordArt though

Edited by fallingbuzzard

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There must be some coverage of this in the local press. They mentioned the sale on Radio Ulster this morning.

Right confess who’s the reporter?

Yup - It is front page news on todays Irish News. Reckon the reporter, James Stinson, must spend some time looking around here once in a while.

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Yup - It is front page news on todays Irish News. Reckon the reporter, James Stinson, must spend some time looking around here once in a while.

It all adds to the negative sentiment. I’ll have to pick one up on the way home from work.

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lol. I got an awful mental picture there. My head hurts.

A large pair of cast iron swingers and a brass neck, the whole lot of them.

How else could they ask the prices they ask and spout the gibberish they do in brochures, at inquiries/viewings and to the media.

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A large pair of cast iron swingers and a brass neck, the whole lot of them.

How else could they ask the prices they ask and spout the gibberish they do in brochures, at inquiries/viewings and to the media.

I think its called collective insanity. They've talked the shite for so long they actually believe it. Estates agents do nothing a shop assistant couldn't and builders stack bricks on top of each other. We'll done lads. Sure we'll all take out million pound mortgages and you can fly choppers and live on the Malone road. Sure you all deserve it. Society owes you all a debt.

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I think its called collective insanity. They've talked the shite for so long they actually believe it. Estates agents do nothing a shop assistant couldn't and builders stack bricks on top of each other. We'll done lads. Sure we'll all take out million pound mortgages and you can fly choppers and live on the Malone road. Sure you all deserve it. Society owes you all a debt.

The evidence would suggest a lot of 'customers' believed it too!

Regarding this firesale, can you imagine if you were trying to sell a house in this area to trade up, then the market is saturated with this? I'll wager a bet the condition of these properties 'varies'.

In this ultra benign interest rate market and with rental demand (and rents) booming (apparently), alongside favourable CGT and business incentives, how come this guy, a 'professional' in the business with numerous contacts and business relationships, came a cropper. Is it a one off - is he an innumerate dud, or is it a sign of things to come esp for the smaller 'investor'?

And of course we have the spectre of interest rate rises never too far away in an uncertain and turbulent, local and global, economic environment.

Oh, I forgot about NAMA - my bad.

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Interesting portfolio here

http://www.propertynews.com/Property/Belfast/ECSECS26671/Residential-Investment-Portfolio-in-North-and-East-Belfast/195187264/Page4

but you need to sign a confidentiality agreement before you get any details.

This lot (sorry "residential investment portfolio)" of 38 units was advertised in yesterday's Irish News page 11 to be sold as 1 or 2 lots.

According to BTW cairns, the 38 units "produce" £114,000 per annum.

Now where's that agreement I have to sign? :unsure:

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I liked that bit. 14 vacant units and 73% NIHE. sounds a bit risky to me.

I didn't look below the photo to see that. There's quite considerable detail there. What's left to be confidential - the owner and names of the tenants?

Any NIHE singletons will be getting the benefit capped with, no doubt, further cuts in the pipeline to the overall HB budget and many tenants like everyone else will continue to struggle with, for example, paying the rent. And it will go to them first with the universal credit.

Think I'll pass.

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I'm going to put my neck out and say member of staff of the agency or family member.

The owner being an EA had crossed my mind.

If so, it's what the term 'delicious irony' was made for.

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Confidentiality agreement you say? There's loads of info there - if I have time I'll nip into the Land Reg and find out exactly who is selling.

Edited by PJ1977

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I think if it's an agent selling it they have to tell you so, like 'a member of staff has a personal interest in this sale'. I have seen one on the market with GOC that says this.

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  • 152 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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