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The Masked Tulip

British Buy-To-Let Investors Cash In On Repossessed Us Homes

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The homes are selling for as little as £20,000 in cities such as Detroit

I do hope they haven't been paying 100x more than the houses are worth in parts of the city that are about to be abandoned :D

otherwise the money is rolling in

Yes because that's all houses are ****ing for isn't it. :angry:

I'll rent it out as and when but I accept rents are low. I'm hoping sales prices will eventually rise again

That one's in Spain, a country where it's been estimated if builders don't stick two bricks together for the next 10 years there still won't be a shortage.

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Lynn Duggan says: "I admit that I've invested in a photograph of a house on a website. I'm never going to see it and there must be some risks. No one wants to lose £30,000 but an investment that size is not a disaster if it goes wrong.

Madness. Although at least she isn't leveraged. It's not the size of the investment that determines if it's a disaster, it's how much of her total wealth that 30k represents.

"there must be some risks". It's just priceless isn't it. You can almost feel sorry for BTL patsies investors

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Scumbags

+1. Fat bitch.

"We were attracted by the principle of a government-guaranteed rental scheme which, if it does what it claims, will cover the purchase price of the home in seven years."

Government props for overpriced assets. Nothing changes. I bet Mervyn King is working on such a scheme this weekend.

Edited by Constable

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...to profit from "rent guarantee schemes" apparently. Love "free enterprise" when it rely's on some kind of state support or guarantee! What can go wrong here! laugh.gif

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I do hope they haven't been paying 100x more than the houses are worth in parts of the city that are about to be abandoned :D

Yes because that's all houses are ****ing for isn't it. :angry:

That one's in Spain, a country where it's been estimated if builders don't stick two bricks together for the next 10 years there still won't be a shortage.

The Question for a million pesetas is

"Do they actually have full title to the land house stands on, was house built legally

with all the right Govt permissions etc

The Spanish housing minefields!

Bet they are selling the ones with 'dodgy' land history orf first - let the new owner argue in court with the descendants of a previous land owner/the govt officials!

Edited by erranta

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Posted that link on one of my facebook profiles, and one of my US (Ohio) friends thought it was funny they were paying so much. He bought his place recently in Youngstown, Ohio for $3k. Also another acre of land has become available to him, due to tearing down unwanted homes.

Edited by Sir John Steed

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West side of Florida has been recommended to me rather than Southern California where I am currently looking to buy a house for future retirement. A nice condo in CA is still around $275,000 in a good area and less than a couple of miles from t' beach.

FL, on the other hand, has much the same sort of thing for $150,000 --

I am tempted beyond all human limits to fly out there in March and buy summat as $150k is about what you could buy a derilict

2 BR flat over a chippy in Nottingham for.

http://www.coldwellbanker.com/property?action=list&freeTextAddress=saint+petersburg+fl&radius=5&countryId=1&numberOfBeds=2&minPrice=80000&maxPrice=150000&priceRangeCriteria=PRICE_RANGE#modalDetail

Status:ACTIVE LISTINGType:Condominium/Townhouse Price:$150,000Price/Mo:$973 Location:5124 Coquina Key Dr SESt Petersburg, FL 33705Country:USACourtesy of:Mls# or ID#:7494062Beds:2Baths:13/4 Baths:
Half Baths:11/4 Baths:
Sq.Ft:1124
Edited by Realistbear

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when I read the words Detroit my heart sunk, she must be off her rocker.

Perhaps that's what it is - they hand our crack pipes on these magical tour buses :lol:

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with companies like this involved...what coud possibly go wrong

http://international...htm?propID=3060

and a section 8 tenant offers this exciting benefits to the Assetz helped landlord

The landlord cannot charge a Section 8 tenant more than FMR and cannot accept payments outside the contract which would cause the total rent to exceed FMR.

In addition, landlords, though required to meet fair housing laws, are not required to participate in the Section 8 program. As a result, some landlords will not accept a Section 8 tenant. This can be attributed to such factors as:

  • not wanting the government involved in their business, such as having a full inspection of their premises by government workers for HUD's Housing Quality Standards (HQS) and the possible remediations required[9]
  • fear that a Section 8 tenant or their children will not properly maintain the premises
  • a desire to charge a rent for the unit above FMR
  • unwillingness to initiate judicial action for eviction of a tenant (HUD requires that Section 8 tenants can only be evicted by judicial action, even where state law allows other procedures)
  • racial profiling (a large percentage of Section 8 tenants are minorities)
  • a desire to not inflict the social pathologies associated with section 8 tenants, such as crime, vandalism, drug use, drug dealing and littering on the surrounding community[citation needed]

Depending on state laws, refusing to rent to a tenant solely for the reason that they have Section 8 may be illegal[citation needed]. Landlords can use only general means of disqualifying a tenant (credit, criminal history, past evictions, etc.).

However, other landlords willingly accept Section 8 tenants, due to:

  • a large available pool of potential renters (the waiting list for new Section 8 tenants is usually very long, see below)
  • generally prompt regular payments from the PHA for its share of the rent
  • a perceived higher quality of tenants, since tenants can be permanently removed from the Section 8 program if they damage the rental unit or fail to pay their share of the rent

Whether voucher or project-based, all subsidized units must meet HQS, thus ensuring that the family has a healthy and safe place to live. This improvement in the landlord's private property is an important by-product of this program, both for the individual families and for the larger goal of community development.

In many localities, the PHA waiting lists for Section 8 vouchers may be thousands of families long, waits of three to five years to access vouchers is common, and many lists are closed to new applicants.

Families who participate in the program must abide by a series of rules and regulations, often referred to as "family obligations," in order to maintain their voucher, including accurately reporting to the PHA all changes in household income and/or family composition so the amount of their subsidy (and the applicable rental unit size limitation) can be updated accordingly. In recent years, the HUD Office of the Inspector General has spent more time and money on fraud detection and prevention.

Edited by Bloo Loo

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+ 1

You'd be safer buying a place in Mogadishu than Motown

According to the HO, Scotland has the 3rd highest murder rate in the EU-US. Not like the days of Billy Connolly when a Glaswegian hello was all you got if you looked at someone funny. Now its a knife up your Jacksy.

http://www.crimlinks.com/MurderRateInternational.html

Murder Rates in
Europe & the U.S.A.
Homicide Rates per 100,000 Citizens
Country Murder Rate
United States of America 5.6
Finland 2.23
UK Scotland 2.17
Belgium 2.04
UK Northern Ireland 1.59
Portgual 1.47
France 1.46
Ireland 1.45
UK England & Wales 1.43
Luxembourg 1.42
Denmark 1.17
Italy 1.13
Spain 1.12
Netherlands 1.06
Greece 1.05
Sweden 1.05
Germany 0.9
Austria 0.64

http://news.bbc.co.uk/1/hi/uk/5006852.stm' rel="external nofollow">
Nottingham also had the highest murder rate - with 5.21 crimes for every 100,000 population - followed by St Helens, Merseyside, with 4.87, according to Reform. London came 21st with 2.12.
Home Office research on 'Homicides, Firearm Offences and Intimate Violence 2008/09' quotes recent comparative homicide figures published by Eurostat.

Globally, the US has a very small comparitive murder rate. Not wanting to sound racist but the stats show that higher rates of murder seem to be in Africa and people from this continent are found in high concentrations in some parts of the US. The same could be said about South Americans who also live in the US is large concentrations (see murder rate for Venzuala and Columbia for example--dreadful). We do not have high concentarions of these people groups in our country............yet.

Murder rates around the world

Click headings to sort

Country/ Area Homicides per 100,000 pop Period

Afghanistan 3.4 2004

Albania 6.6 2004

Algeria 1.4 2004

Andorra 1.4 2004

Angola 36 2004

Anguilla 8.3 2004

Antigua and Barbuda 7.7 2004

Argentina 5.3 Ave 2004-2006

Armenia 2.5 2004

Australia 1.3 2004

Austria 0.7 2004

Azerbaijan 2.4 2004

Bahamas 22.5 2004

Bahrain 1 2004

Bangladesh 2.3 2005

Barbados 15.1 2004

Belarus 8.3 2004

Belgium 2.1 2004

Belize 30.1 2004

Benin 12.7 2004

Bermuda 1.1 2004

Bhutan 4.3 2004

Bolivia 5.3 2005

Bosnia and Herzegovina 1.8 2005

Botswana 21.5 2004

Brazil 30.8 Ave 2003-2005

Brunei Darussalam 1.4 2004

Bulgaria 3.1 2004

Burkina Faso 18.1 2004

Burma 15.7 2004

Burundi 35.4 2004

Cambodia 18.5 2004

Cameroon 16.1 2004

Canada 1.5 Ave 2002-2004

Cape Verde 10.7 2004

Central African Rep 29.1 2004

Chad 19 2004

Chile 5.5 Ave 2003-2005

China 2.2 2004

Colombia 61.1 Ave 2003-2005

Comoros 9.3 2004

Congo 18.8 2004

Congo, the Dem Rep of the 35.2 2004

Costa Rica 7.3 Ave 2004-2006

Cote d'Ivoire 45.7 2004

Croatia 2 2004

Cuba 6 Ave 2004-2006

Cyprus 1.8 2004

Czech Rep 2.2 2004

Denmark 1.1 2004

Djibouti 3.5 2004

Dominica 10.3 2004

Dominican Rep 16.8 2004

East Timor 11.7 2004

Ecuador 16.8 Ave 2003-2005

Egypt 0.7 2005

El Salvador 56.4 Ave 2004-2006

England & Wales 1.6 2004

Equatorial Guinea 24 2004

Eritrea 15.9 2004

Estonia 6.7 2004

Ethiopia 19.3 2004

Fiji 0.7 2004

Finland 2.8 2004

France 1.6 2004

Gabon 17.1 2004

Gambia 13.5 2004

Georgia 6.2 2004

Germany 1 2004

Ghana 11.6 2004

Greece 1 2004

Grenada 4.9 2004

Guatemala 26.3 Ave 2002-2004

Guinea 17.3 2004

Guinea-Bissau 16.3 2004

Guyana 19.2 Ave 2003-2005

Haiti 5.3 2004

Honduras 13.8 2004

Hong Kong (Spec Admin Reg China) 0.6 2004

Hungary 2.1 2004

Iceland 1 2004

India 5.5 2004

Indonesia 8.9 2004

Iran 2.9 2004

Iraq 6.7 2004

Ireland 1.1 2004

Israel 2.6 2004

Italy 1.2 2004

Jamaica 33.7 2004

Japan 0.5 2005

Jordan 1.2 2005

Kazakhstan 11.9 2005

Kenya 6.7 2005

Kiribati 6.5 2004

Korea, north 18.9 2004

Korea, south 2.2 2004

Kuwait 1.4 2004

Kyrgyzstan 8.1 2004

Lao People's Democratic Rep 5.4 2004

Latvia 8.6 2004

Lebanon 2.4 2005

Lesotho 37.3 2005

Liberia 16.8 2004

Libya 2.9 2004

Liechtenstein 2.9 2004

Lithuania 9.1 2004

Luxembourg 0.4 2004

Macedonia 2.4 2004

Madagascar 11.7 2004

Malawi 18 2004

Malaysia 2 2005

Maldives 2.1 2004

Mali 18 2004

Malta 1.7 2004

Marshall Islands 1.8 2004

Mauritania 15.2 2004

Mauritius 2.5 2004

Mexico 10.9 Ave 2004-2006

Micronesia 0.9 2004

Moldova 7.2 2004

Monaco 3.1 2004

Mongolia 13.1 2004

Montenegro 3.6 2005

Morocco 0.5 2004

Mozambique 20.2 2004

Namibia 12.8 2004

Nauru 9.9 2004

Nepal 2.1 2005

Netherlands 1.4 2004

New Zealand 1.5 2005

Nicaragua 17.4 Ave 2003-2005

Niger 20.2 2004

Nigeria 17.7 2004

Northern Ireland 2.4 2004

Norway 0.8 2004

Oman 2.1 2004

Pakistan 3.6 2004

Palau 0.9 2004

Palestinian Terr 4 2005

Panama 13.4 Ave 2002-2004

Papua New Guinea 15.2 2004

Paraguay 17.8 Ave 2004-2006

Peru 3 Ave 2002-2004

Philippines 21 2004

Poland 1.7 2004

Portugal 1.4 2004

Puerto Rico 18.9 Ave 2003-2005

Qatar 0.8 2004

Romania 2.4 2004

Russian Federation 29.7 2004

Rwanda 26.6 2004

Saint Kitts and Nevis 22.7 2004

Saint Lucia 21.3 2004

Saint Vincent and the Grenadines 16 2004

Samoa 1.1 2004

Sao Tome and Principe 5.4 2004

Saudi Arabia 3.2 2004

Scotland 2.6 2004

Senegal 14.2 2004

Serbia 1.4 2005

Seychelles 3.5 2004

Sierra Leone 34 2004

Singapore 0.5 2004

Slovakia 2.3 2004

Slovenia 1.5 2004

Solomon Islands 1.5 2004

Somalia 3.3 2004

South Africa 39.5 2004

Spain 1.2 2004

Sri Lanka 7.2 2004

Sudan 28.6 2004

Suriname 11.8 Ave 2003-2005

Swaziland 12.7 2004

Sweden 1.2 2004

Switzerland 2.9 2004

Syria 1.2 2005

Tajikistan 2.4 2004

Tanzania 26.1 2004

Thailand 8.2 2005

Togo 13.7 2004

Tonga 1 2004

Trinidad and Tobago 13.7 2004

Tunisia 1.7 2004

Turkey 6.9 2004

Turkmenistan 7.8 2004

Uganda 7.3 2004

Ukraine 8 2004

United Arab Emirates 0.7 2004

Uruguay 4.7 Ave 2003-2005

USA 5.9 Ave 2003-2005

Uzbekistan 3.5 2004

Vanuatu 1 2004

Venezuela 32.5 Ave 2003-2005

Viet Nam 3.8 2004

Yemen 2.5 2004

Zambia 22.9 2004

Zimbabwe 8.4 2004

Edited by Realistbear

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The Belgrave Group mentioned in the Guardian article are doing very well with our press. They also got a good blurb about it in the Wail last August:

http://www.dailymail.co.uk/property/article-1300796/Brave-buyers-invest-bargain-bedroom-house-Detroit-30-000.html

Quick - somebody tell all the Chinese etc that are buying up London, what a blunder they have made. One crappy flat in London or 20 properties in the USA?

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Globally, the US has a very small comparitive murder rate. Not wanting to sound racist but the stats show that higher rates of murder seem to be in Africa and people from this continent are found in high concentrations in some parts of the US. The same could be said about South Americans who also live in the US is large concentrations (see murder rate for Venzuala and Columbia for example--dreadful). We do not have high concentarions of these people groups in our country............yet.

It's not racist if it's a fact, and it is a fact.

As for that woman 'investing' in Detroit, I hope she loses the fekkin lot. :angry: :angry:

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The house will look nothing like the photograph she has seen (reality is it will be a much smaller vandalised dump) and she will end up paying the management company $100/ month for the next 5 years and never have anyone renting it.

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Globally, the US has a very small comparitive murder rate. Not wanting to sound racist but the stats show that higher rates of murder seem to be in Africa and people from this continent are found in high concentrations in some parts of the US.

So your non-racist point is? According to your previous statement the high concentrations of them don't appear to be a problem.

A lot of African and South American countries have historically tended to have problems with American and European government supporting unpopular regimes and helping overturn democratic govts who refused support their commercial interests. This leads to continual conflict in these places. I think this sort of thing is more likely to be the catalyst for creating an unstable, violent country rather than anything genetic.

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