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9 Bedroom House For £74K In Bournemouth

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http://www.rightmove.co.uk/property-for-sale/property-29399501.html

42063_110377A_10377_IMG_02_0001_max_620x414.JPG

One small problem...

Grade II listed nine bedroom hotel arranged over four floors. Conveniently located for the West Cliff and Town Centre. Suitable as a 'going concern' or 'Buy-to-Let'. Approximatley 6 years remaining from an original 15 year lease with the opportunity to re-negotiate providing there is no change of use. Ground Rent: £9,600 per annum payable in quarterly instalments.

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http://www.rightmove.co.uk/property-for-sale/property-29399501.html

42063_110377A_10377_IMG_02_0001_max_620x414.JPG

One small problem...

Grade II listed nine bedroom hotel arranged over four floors. Conveniently located for the West Cliff and Town Centre. Suitable as a 'going concern' or 'Buy-to-Let'. Approximatley 6 years remaining from an original 15 year lease with the opportunity to re-negotiate providing there is no change of use. Ground Rent: £9,600 per annum payable in quarterly instalments.

I think it means they are selling a six year lease on it for £74,000 rather than selling the edifice so with the ground rent that translates to £130,000+ over that period.

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http://www.rightmove.co.uk/property-for-sale/property-29399501.html

42063_110377A_10377_IMG_02_0001_max_620x414.JPG

One small problem...

Grade II listed nine bedroom hotel arranged over four floors. Conveniently located for the West Cliff and Town Centre. Suitable as a 'going concern' or 'Buy-to-Let'. Approximatley 6 years remaining from an original 15 year lease with the opportunity to re-negotiate providing there is no change of use. Ground Rent: £9,600 per annum payable in quarterly instalments.

That works out at about £1800 a month rent if you just live in it for 6 years. Wouldnt be hard to fill some of those rooms with people that would pay that rent for you. Seems like a bloody good deal to me.

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back of a fag packet business plan:

lease cost: 1800/month

income: rent rooms out to 9 hookers at 2000/month (rent includes a 'security' service for the hookers) = 18000/month

salary for a total of 4 security guards (12 hour shifts 4 days on/off each) 4 x 1500 = 6000/month

Profit: 10200/month :)

--

Edited by wise_eagle

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salary for a total of 4 security guards (12 hour shifts 4 days on/off each) 4 x 1500 = 6000/month

You plan to pay below minimum wage and no perks?

Or you plan to evade all taxes, deny your staff statutory holidays, etc?

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back of a fag packet business plan:

lease cost: 1800/month

income: rent rooms out to 9 hookers at 2000/month (rent includes a 'security' service for the hookers) = 18000/month

salary for a total of 4 security guards (12 hour shifts 4 days on/off each) 4 x 1500 = 6000/month

Profit: 10200/month :)

--

ITYF that dealing drugs is a more rewarding way of risking five years inside

tim

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You plan to pay below minimum wage and no perks?

Or you plan to evade all taxes, deny your staff statutory holidays, etc?

Why BMW? 12h/d 4d on /4d off means 180 hours a month. I'm not sure what MW is currently but I believe around 6 pounds which would make it 1080 pounds a month, I suggested paying 1500.

Holidays could be covered by temp staff.

Of course the profit mentioned is before tax.

ITYF that dealing drugs is a more rewarding way of risking five years inside

I don't think renting out rooms at a fixed monthly price to hookers is illegal (otherwise no hooker would be able to rent a room/flat).

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  • 311 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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