Hold Fast Posted June 29, 2012 Share Posted June 29, 2012 According to the listing it "represents a gross yeild of 6.64%". Never been a landlord myself but I can't imagine the hassle of managing and maintaining 97 properties would be worth it for less than 7%. http://www.rightmove.co.uk/property-for-sale/property-23425239.html Quote Link to comment Share on other sites More sharing options...
Aidan Ap Word Posted June 29, 2012 Share Posted June 29, 2012 According to the listing it "represents a gross yeild of 6.64%". Never been a landlord myself but I can't imagine the hassle of managing and maintaining 97 properties would be worth it for less than 7%. http://www.rightmove.co.uk/property-for-sale/property-23425239.html And that is 6.64% (or whatever) at the *asking* price. Hearing the sound of tinkling glass? Aidanapword Quote Link to comment Share on other sites More sharing options...
Russe11 Posted June 29, 2012 Share Posted June 29, 2012 (edited) 11miliion over 92 properties is a average of £120k per property, where as the average rent is £662pcm. Does not add up to a sustainble btl business Edited June 29, 2012 by Russe11 Quote Link to comment Share on other sites More sharing options...
swissy_fit Posted June 30, 2012 Share Posted June 30, 2012 11 million quid for a yield of 6.64%! FFS you could get that yield on a range of cast-iron shares, bonds etc and do nothing. And in scumville-on-sea as well! Unless it's very good property with virtually guaranteed tenancies, that is well, well overpriced. Student lets and the like have to have yields of 10% or above for good reasons. Quote Link to comment Share on other sites More sharing options...
porca misèria Posted June 30, 2012 Share Posted June 30, 2012 11miliion over 92 properties is a average of £120k per property, where as the average rent is £662pcm. Does not add up to a sustainble btl business £120k is not particularly cheap in a Plimuff context. Look at an area like Laira: £120k looks quite pricey for that kind of rent. Or buy in student-land and go HMO for a much higher rent. Quote Link to comment Share on other sites More sharing options...
Charlie Don't Surf Posted June 30, 2012 Share Posted June 30, 2012 Over 160 separate tenancies. That's a full time job. TYPE UNITS PROPERTY LOCATION INCOME FLAT 4 flats Roman Drive £625.00 FLAT 4 flats Rashleigh Place £500.00 FLAT 1 flats Castle Hill Court £450.00 FLAT 4 flats 11A Albert Road £1745.00 FLAT 4 flats 15 Albert Road £1745.00 FLAT 12 flats 12/13 Woodland Terrace £6525.00 FLAT 6 flats 16 Garden Crescent £2470.00 FLAT 6 flats 17 Garden Crescent £2600.00 FLAT 5 flats The Roscoff £1918.33 FLAT 19 flats Meffifield £9050.00 FLAT 8 flats 24 Mount Gould Road £2621.66 FLAT 5 flats 12 Radford Road £1820.00 FLAT 4 flats 27 Brookside £550.00 HOUSE 6 rooms 19 Headland Park £2208.00 HOUSE 6 rooms 20 Headland Park £2208.00 HOUSE 6 rooms 21 Headland Park £2208.00 HOUSE 6 rooms 33 Headland Park £2208.00 HOUSE 7 rooms 19 Lisson Grove £2576.00 HOUSE 8 rooms 12 Rochester Road £2944.00 HOUSE 11 rooms 44 Lipson Road £4048.00 HOUSE 10 rooms 40 Connaught Avenue £3680.00 HOUSE 7 rooms 85 Clifton Place £2576.00 HOUSE 10 rooms 12 Hill Park Crescent £3680.00 Total properties 92 £60,956.00 Quote Link to comment Share on other sites More sharing options...
porca misèria Posted June 30, 2012 Share Posted June 30, 2012 Over 160 separate tenancies. That's a full time job. Of course. It's a business. It'll need to employ at least a couple of people directly, plus have a good number of tradesmen on its books for works. There are some inconsistencies in your figures" TYPE UNITS PROPERTY LOCATION INCOME FLAT 4 flats Roman Drive £625.00 FLAT 4 flats Rashleigh Place £500.00 FLAT 4 flats 27 Brookside £550.00 Those look like rents per flat: divide any of them by 4 and it looks more like the nominal amount a working teenager might pay mum for the bedroom at home. Whereas the others look like total rents over all the flats (or rooms in an HMO). FLAT 1 flats Castle Hill Court £450.00 FLAT 4 flats 11A Albert Road £1745.00 FLAT 4 flats 15 Albert Road £1745.00 FLAT 12 flats 12/13 Woodland Terrace £6525.00 FLAT 6 flats 16 Garden Crescent £2470.00 FLAT 6 flats 17 Garden Crescent £2600.00 FLAT 5 flats The Roscoff £1918.33 FLAT 19 flats Meffifield £9050.00 FLAT 8 flats 24 Mount Gould Road £2621.66 FLAT 5 flats 12 Radford Road £1820.00 HOUSE 6 rooms 19 Headland Park £2208.00 HOUSE 6 rooms 20 Headland Park £2208.00 HOUSE 6 rooms 21 Headland Park £2208.00 HOUSE 6 rooms 33 Headland Park £2208.00 HOUSE 7 rooms 19 Lisson Grove £2576.00 HOUSE 8 rooms 12 Rochester Road £2944.00 HOUSE 11 rooms 44 Lipson Road £4048.00 HOUSE 10 rooms 40 Connaught Avenue £3680.00 HOUSE 7 rooms 85 Clifton Place £2576.00 HOUSE 10 rooms 12 Hill Park Crescent £3680.00 Total properties 92 £60,956.00 Quote Link to comment Share on other sites More sharing options...
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