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spunko2010

Ex-Btl Sale Watch

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In the spirit of the "BTL Finance Watch" megathread, thought I'd start a similar thread to share and marvel and all the ex-BTL properties being placed onto the for sale market. There's been a few of them in the past month or so round my way. So to get the party started:

http://www.rightmove.co.uk/property-for-sale/property-54009571.html

http://www.zoopla.co.uk/property-history/the-hop-barn/ladham-road/goudhurst/cranbrook/tn17-1ls/17761473

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In the spirit of the "BTL Finance Watch" megathread, thought I'd start a similar thread to share and marvel and all the ex-BTL properties being placed onto the for sale market. There's been a few of them in the past month or so round my way. So to get the party started:

http://www.rightmove.co.uk/property-for-sale/property-54009571.html

http://www.zoopla.co.uk/property-history/the-hop-barn/ladham-road/goudhurst/cranbrook/tn17-1ls/17761473

I make that something like 3.1% gross yield (if we're going on asking prices/rent). As the difference between gross and net yields is significant, and the difference in net yield between active management and passive investment is yet more significant, I simply don't understand why anyone does it.

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I simply don't understand why anyone does it.

CAPITAL GROWTH.

It's the only number that the majority of BTL LL's understand. Every else is "complex".

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CAPITAL GROWTH.

It's the only number that the majority of BTL LL's understand. Every else is "complex".

Well, the shares I bought around 2009[1] have given me lots of capital growth as well. And in the interim, I've been collecting my divis in my bank account whilst sitting on the beach, riding my bike, or minding my garden. No tenant selecting, rent chasing, boiler fixing, void fearing for me.

[1] Yeah, I know. I picked the timescale for effect. But the point remains.

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495k stashed in the equity market, gold, bitcoin, china or a 2 bed rabbit hutch in kent? Hmm tough choice

Difference is that its not £495k cash they are spending, its £100k equity and £2k a month. If it weren't for leverage houses would be much MUCH MUCH cheaper!

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Difference is that its not £495k cash they are spending, its £100k equity and £2k a month. If it weren't for leverage houses would be much MUCH MUCH cheaper!

The leverage may have further relevance as and when the market turns. ;)

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I'm guessing in the case of the barn it was already theirs and they converted it. There's a farm next door you see this quite a lot

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less than 8% yield on student properties as universities and special created corporates spend billions increasing their own supply of rooms to improve the student's experience...

I couldn't think of anything worse or more stressful to spend my money on...

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Difference is that its not £495k cash they are spending, its £100k equity and £2k a month. If it weren't for leverage houses would be much MUCH MUCH cheaper!

Well, brilliant. To go with worry about voids, maintenance, legislation, etc, etc, I also get to stay awake at night worrying about debt, interest rates, central bank policy, etc, etc.

As you can tell, I've not got the right attitude for this BTL lark.

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http://www.rightmove.co.uk/property-for-sale/property-53928355.html?premiumA=true

This one I posted about the other day. I viewed it and have had 2 phone calls from different people at the same agent. I said I would make a low offer around £150K/£160K but I would have to see it empty first. It was a virtual slum inside and needed a complete refurbishment.

Why are btlers trying to sell properties before the tenants have gone? Haven't they milked them enough?

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http://www.rightmove.co.uk/property-for-sale/property-53928355.html?premiumA=true

This one I posted about the other day. I viewed it and have had 2 phone calls from different people at the same agent. I said I would make a low offer around £150K/£160K but I would have to see it empty first. It was a virtual slum inside and needed a complete refurbishment.

Why are btlers trying to sell properties before the tenants have gone? Haven't they milked them enough?

Because they cannot afford a 1 month (or day) void.

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Just reminded me. I viewed a BTL about 5 years ago where the tenant was laying on the sofa watching TV while I looked round.

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I've been looking at that area on and off for some time and it feels like there's an increase in tenanted properties lately. A bunch went to auction last month and quite a few didn't sell then went back on rightmove. 6 bed terraces but they have gone now.

Also block of 4 flats that stinks of BTL

http://www.rightmove.co.uk/property-for-sale/property-52790614.html

and HMO places

http://www.rightmove.co.uk/property-for-sale/property-49984967.html

http://www.rightmove.co.uk/property-for-sale/property-53204531.html

More flats with tenants

http://www.rightmove.co.uk/property-for-sale/property-39877419.html

http://www.rightmove.co.uk/property-for-sale/property-53519458.html

http://www.rightmove.co.uk/property-for-sale/property-40123896.html

http://www.rightmove.co.uk/property-for-sale/property-40667808.html

http://www.rightmove.co.uk/property-for-sale/property-39181254.html

There are lots more empty flats with no onward chain that must have been BTL at first.

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I stayed in Goudhurst last Sept in the Pub next to the church (Star and Eagle??).

Nice place but the road is V Busy.

Still not worth the money being asked.

When the financial jobs in London all implode, which they will, this sort of place is going down.

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