spunko2010 Posted May 4, 2016 Share Posted May 4, 2016 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 Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted May 4, 2016 Share Posted May 4, 2016 Oh dearie that bedroom is dire. Looks like a HUTH renovation. Quote Link to comment Share on other sites More sharing options...
CunningPlan Posted May 4, 2016 Share Posted May 4, 2016 Frack me - 3.1% gross yield. No wonder they are selling. Quote Link to comment Share on other sites More sharing options...
justthisbloke Posted May 4, 2016 Share Posted May 4, 2016 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. Quote Link to comment Share on other sites More sharing options...
Agentimmo Posted May 4, 2016 Share Posted May 4, 2016 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". Quote Link to comment Share on other sites More sharing options...
Guest BillyNI Posted May 4, 2016 Share Posted May 4, 2016 Master bedroom would piss off even a midget. Quote Link to comment Share on other sites More sharing options...
justthisbloke Posted May 4, 2016 Share Posted May 4, 2016 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. Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted May 4, 2016 Share Posted May 4, 2016 495k stashed in the equity market, gold, bitcoin, china or a 2 bed rabbit hutch in kent? Hmm tough choice Quote Link to comment Share on other sites More sharing options...
Cosmic Apple Posted May 4, 2016 Share Posted May 4, 2016 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! Quote Link to comment Share on other sites More sharing options...
olde guto Posted May 4, 2016 Share Posted May 4, 2016 Here are a few I've spotted in the past Massive BTL portfolio (17 in total) in several towns http://www.rightmove.co.uk/property-for-sale/property-40684848.html 18 bedroom HMO!?! http://www.rightmove.co.uk/property-for-sale/property-55553885.html As all of these agents were originally just letting agents it's a fair bet most of the properties the are trying to shift are (ex)BTL http://www.rightmove.co.uk/estate-agents/agent/Keylet/Cardiff-79972.html#ram_current_properties http://www.rightmove.co.uk/estate-agents/agent/CPS-Homes/Cardiff-23750.html#ram_current_properties http://www.rightmove.co.uk/property-for-sale/find/Imperial-Property-Services/Cardiff---Sales.html?locationIdentifier=BRANCH^152144&includeSSTC=true&_includeSSTC=on Quote Link to comment Share on other sites More sharing options...
Odysseus Posted May 4, 2016 Share Posted May 4, 2016 Just reduced today.... http://www.rightmove.co.uk/property-for-sale/property-53587096.html Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted May 4, 2016 Share Posted May 4, 2016 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. Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted May 4, 2016 Author Share Posted May 4, 2016 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 Quote Link to comment Share on other sites More sharing options...
eek Posted May 5, 2016 Share Posted May 5, 2016 Here are a few I've spotted in the past Massive BTL portfolio (17 in total) in several towns http://www.rightmove.co.uk/property-for-sale/property-40684848.html 18 bedroom HMO!?! http://www.rightmove.co.uk/property-for-sale/property-55553885.html As all of these agents were originally just letting agents it's a fair bet most of the properties the are trying to shift are (ex)BTL http://www.rightmove.co.uk/estate-agents/agent/Keylet/Cardiff-79972.html#ram_current_properties http://www.rightmove.co.uk/estate-agents/agent/CPS-Homes/Cardiff-23750.html#ram_current_properties http://www.rightmove.co.uk/property-for-sale/find/Imperial-Property-Services/Cardiff---Sales.html?locationIdentifier=BRANCH^152144&includeSSTC=true&_includeSSTC=on 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... Quote Link to comment Share on other sites More sharing options...
justthisbloke Posted May 5, 2016 Share Posted May 5, 2016 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. Quote Link to comment Share on other sites More sharing options...
Flopsy Posted May 5, 2016 Share Posted May 5, 2016 (edited) http://www.rightmove.co.uk/property-for-sale/property-41685192.html?utm_content=v2-ealertspropertyimage&utm_medium=email&utm_source=emailupdates&utm_campaign=emailupdatesinstant&utm_term=buying&sc_id=16549744&onetime_FromEmail=true Milton Keynes. I am guessing it is ex-BTL as "investor buyers only" under the key features and these have been on sale for a while now 8 apartments http://www.rightmove.co.uk/property-for-sale/property-40093746.html and 5 apartments http://www.rightmove.co.uk/property-for-sale/property-40093545.html and 2 apartments http://www.rightmove.co.uk/property-for-sale/property-34073859.html and 1 apartment http://www.rightmove.co.uk/property-for-sale/property-53024140.html and 1 apartment http://www.rightmove.co.uk/property-for-sale/property-52959001.html Edited May 5, 2016 by Flopsy Quote Link to comment Share on other sites More sharing options...
janch Posted May 5, 2016 Share Posted May 5, 2016 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? Quote Link to comment Share on other sites More sharing options...
eek Posted May 5, 2016 Share Posted May 5, 2016 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. Quote Link to comment Share on other sites More sharing options...
spunko2010 Posted May 5, 2016 Author Share Posted May 5, 2016 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. Quote Link to comment Share on other sites More sharing options...
jfk Posted May 5, 2016 Share Posted May 5, 2016 Just reduced today.... http://www.rightmove.co.uk/property-for-sale/property-53587096.html Scandalous how narrow that place is... Quote Link to comment Share on other sites More sharing options...
Parkwell Posted May 5, 2016 Share Posted May 5, 2016 Just reduced today.... http://www.rightmove.co.uk/property-for-sale/property-53587096.html 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. Quote Link to comment Share on other sites More sharing options...
Bear Hug Posted May 6, 2016 Share Posted May 6, 2016 9-bed in Reading. *3% stamp duty paid by the seller for A quick sale* And seller is a member of staff of estate agency. 7.2% gross? No chance in hell. http://www.zoopla.co.uk/for-sale/details/39732449?search_identifier=1ec482bc935017b0ec223563028244ee#4wM1xMD2MlvTzrHm.97 Quote Link to comment Share on other sites More sharing options...
GreenDevil Posted May 6, 2016 Share Posted May 6, 2016 9-bed in Reading. *3% stamp duty paid by the seller for A quick sale*[/size] And s[/size]eller is a member of staff of estate agency. 7.2% gross? No chance in hell. http://www.zoopla.co.uk/for-sale/details/39732449?search_identifier=1ec482bc935017b0ec223563028244ee#4wM1xMD2MlvTzrHm.97 I can see a queue forming as you post... Quote Link to comment Share on other sites More sharing options...
Roman Roady Posted May 7, 2016 Share Posted May 7, 2016 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. Quote Link to comment Share on other sites More sharing options...
crashbaby Posted May 7, 2016 Share Posted May 7, 2016 2-bedroom flats @ £350k in central London. All 3 added today and located in the same building, near Angel. For sale by auction. http://www.rightmove.co.uk/property-for-sale/property-54069001.html http://www.rightmove.co.uk/property-for-sale/property-54069079.html http://www.rightmove.co.uk/property-for-sale/property-54069103.html http://www.rightmove.co.uk/property-for-sale/property-54069001.html Quote Link to comment Share on other sites More sharing options...
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