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TheCountOfNowhere

Buy to Let....£1.6M off asking price

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one of the povertylater DEBTjunkie champions has diversified all his DEBT across multiple different floors of the same block of flats. he's going bankrupt.

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6 minutes ago, This time said:

Knew I recognised it.  Thanks.

He was the highest bidder in 2007.  That alone doesn't make him deserving of mad-gainz when trying to sell ("because I deserve it for the work").    I don't know what it's worth in this market, but what I totally differed with pipllman about on that thread, was the suggestion it doesn't matter what you pay to buy a property (of block of properties), that you deserve 'mad-gainz' when you come to sell because you were highest bidder previously.

Quote

 

John McClane: You got their attention now, don't you?
Thomas Gabriel: That's right. I am doing the country a favor.
John McClane: By tearing it apart?
Thomas Gabriel: Better me than some outsider. Some religious nut job bent on Armageddon. Nobody wants to see that happen. 
John McClane: Ah, ********. It's always been about the money.
Thomas Gabriel: What, I shouldn't get paid for my work? I'm working my ass off here, John.
John McClane: Well, just sit tight, asshole. I gotta check for you.

DieHard 4.0

 

@thewigI also thought it might be associated to one of the PovertyLaters, but not so sure.

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1 hour ago, Wayward said:

The auction was last month...wonder what they got for it...? or whether reached reserve...

It's still listed...so Nothing !!!!

 

I thought I'd posted this one before, last time we found out

 

" A FORMER estate agent who was shocked by the state of a Coventry block of flats ended up buying them himself – for a whopping £2 million. "

They could be looking at a massive loss now.

Must be worth  £1M by now.

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" An ideal-buy-to let investment with approximately 86 flats currently let generating approximately £415,000 in rental income. "

If my adding up is right that's....16% ?, less costs of course.

I'm no expert but that sounds brilliant, us mere mortals con only dream of such great returns.

 

 

 

 

 

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Chinese investor will buy without even having a look...we need Chinese 'investment' otherwise how are we going to pay for their junk in return...?

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8 hours ago, Wayward said:

Chinese investor will buy without even having a look...we need Chinese 'investment' otherwise how are we going to pay for their junk in return...?

That doesn't make any sense.

Why would they buy anything at any zany price, just so the owner can walk away with £2.6M?  

Is the seller going to then spend his life buying up Chinese products?  Are the tenants to new Chinese owners going to be offered free rent to buy Chinese products?

Why didn't they buy it at £4m asking price of earlier this year?  Why didn't they buy it in 2007 when current owner bought it?

Some are going to learn there isn't always a buyer willing to pay moar.

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On ‎23‎/‎11‎/‎2016 at 0:20 AM, Venger said:

That doesn't make any sense.

Why would they buy anything at any zany price, just so the owner can walk away with £2.6M?  

Is the seller going to then spend his life buying up Chinese products?  Are the tenants to new Chinese owners going to be offered free rent to buy Chinese products?

Why didn't they buy it at £4m asking price of earlier this year?  Why didn't they buy it in 2007 when current owner bought it?

Some are going to learn there isn't always a buyer willing to pay moar.

I never said it made sense...

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