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The greatest thread of all...The BTL running for the exit thread


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HOLA441
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HOLA442

Count,

I wanted to respond to a few of your posts today but thought this would be a good place to spew forth my observations and thoughts. 

Thank you for all of your entertaining posts and seemingly, keeping HPC going single-handedly at times. Not seen your twitter account but fairplay for spreading the word.

Having read the original title to this thread, I assumed you meant the BTL brigade were being bailed. I was keen to see your reasoning but you changed the title after a prompt.  To me, it feels as though the latest money printing exercise is giving a golden handshake to the BTLetters. The Golden Goose is being killed but they are getting one hell of a kick back for the carcass............if they got/get out in time. Otherwise, "IMHO" it is going to be a bloodbath. First time buyers are being duped, as was ever thus, in the biggest Ponzi of all time.

My search area is Cities and Towns in North to South Somerset/Wilts border. The initial asking prices are up (guestimate) about 20-30% on a year ago. It really feels like the last fools are being tempted in and a lot of them will be first time buyers / builders / ignorant BTLers (ignorant of tax changes).  Along with the fools jumping in with both feet and offering asking price, there have been lots of drops and some really inconsistent pricing, sometimes in the same street for the equivalent house. I personally feel that this volatility and schizophrenic pricing is a signal to an out of control housing market and economy.......and most importantly, one that is going down the s h i t t e r.  - all IMHO of course ;0)

 

 

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HOLA443
2 hours ago, Dave Beans said:

Even though the flat is been up for sale since last July, it was put up by ten grand at the end of December.

Welcome to Luton haha that kinda thing is the norm ..Sadly some still end up selling 

Flats for auction in Luton will increase IMO  currently 88 1 bed flats for sale  yet council approved 600 more in one sitting last week ..Somewhere around 500-1000 in planning stage currently as well..

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30 minutes ago, Untoward said:

Count,

I wanted to respond to a few of your posts today but thought this would be a good place to spew forth my observations and thoughts. 

Thank you for all of your entertaining posts and seemingly, keeping HPC going single-handedly at times. Not seen your twitter account but fairplay for spreading the word.

Having read the original title to this thread, I assumed you meant the BTL brigade were being bailed. I was keen to see your reasoning but you changed the title after a prompt.  To me, it feels as though the latest money printing exercise is giving a golden handshake to the BTLetters. The Golden Goose is being killed but they are getting one hell of a kick back for the carcass............if they got/get out in time. Otherwise, "IMHO" it is going to be a bloodbath. First time buyers are being duped, as was ever thus, in the biggest Ponzi of all time.

My search area is Cities and Towns in North to South Somerset/Wilts border. The initial asking prices are up (guestimate) about 20-30% on a year ago. It really feels like the last fools are being tempted in and a lot of them will be first time buyers / builders / ignorant BTLers (ignorant of tax changes).  Along with the fools jumping in with both feet and offering asking price, there have been lots of drops and some really inconsistent pricing, sometimes in the same street for the equivalent house. I personally feel that this volatility and schizophrenic pricing is a signal to an out of control housing market and economy.......and most importantly, one that is going down the s h i t t e r.  - all IMHO of course ;0)

 

 

Cheers dude.

 

 Your probably onto something there. Its like the death throws of a walrus. What wr ate witnessing is nonsensical unless you've got £100 billion of fake cash and are just buying anything you can with it....

 

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On 1/18/2017 at 10:07 PM, Untoward said:

.  Along with the fools jumping in with both feet and offering asking price, there have been lots of drops and some really inconsistent pricing, sometimes in the same street for the equivalent house. 

 

 

Seeing the same overall, but when it comes to the inconsistencies of pricing i`m now pretty sure  it`s all about the leverage involved 

Some thing worth trying is checking the last sold date and price ...it`s uncanny how the cheaper ones were bought for less and usually years before the crazy priced ones..........they are starting to feed on each other IMO

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4 hours ago, AvoidDebt said:

Couple more turds to add to this thread.

HMO 'entrepreneurs' heading for exit... 

http://www.rightmove.co.uk/s6p/57828304

http://www.rightmove.co.uk/s6p/57795469

 

The Pinner Net Yield (stamp, additional stamp, costs, net/gross)... must be sub 3%

Harrow seems like a con.. It's a HMO, but says let on a AST... but anyway imagine living next to that.

Like those do-gooding bastards in Brighton who brought a free house for refugees.. Obviously not next to their house...

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1 hour ago, monkeyman1974 said:

The Pinner Net Yield (stamp, additional stamp, costs, net/gross)... must be sub 3%

Harrow seems like a con.. It's a HMO, but says let on a AST... but anyway imagine living next to that.

Like those do-gooding bastards in Brighton who brought a free house for refugees.. Obviously not next to their house...

Pinner road property appears to be number 121 looking on street view, nicely spray painted number not blurred by Google, last sold as 121, 121a and 121b, Agents link/postcode take you to Harrow volunteer centre

 

Ground Floor Flat, 121, Pinner Road, Harrow, Greater London HA1 4EU

£135,000Flat, Leasehold04 Feb 2003

(rent advertised at £750 in 2003, and £785 in 2008 according to zoopla archive)

 

121b, Pinner Road, Harrow, Greater London HA1 4EU

£97,000Flat, Leasehold14 Mar 2003

 

121a, Pinner Road, Harrow, Greater London HA1 4EU

£111,500Flat, Leasehold28 Feb 2005

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16 minutes ago, AvoidDebt said:

Both listed today. Top end BTL - if there is such a thing.. 

http://www.rightmove.co.uk/s6p/46585425

http://www.rightmove.co.uk/s6p/64280543

 

First opportunity offered is to invest £8.75m at 4.3% gross yield without any maintenance, voids, or fees. Minus whatever capital value is lost when the market goes bang.

I get over 4% net on investment income whilst sat on my backside paying for a nominee service and a consolidated annual tax statement.

Anybody buying London BTL must be utterly insane.

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19 minutes ago, disenfranchised said:

First opportunity offered is to invest £8.75m at 4.3% gross yield without any maintenance, voids, or fees. Minus whatever capital value is lost when the market goes bang.

I get over 4% net on investment income whilst sat on my backside paying for a nominee service and a consolidated annual tax statement.

Anybody buying London BTL must be utterly insane.

Shirley any potential buyer/btl slumlord needs to ask themselves why the vendors would they be selling if they're currently such a big money spinner? or am i being too simplistic?

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http://www.mortgageintroducer.com/paragon-results-demonstrate-buy-let-slump/

Paragon Mortgages saw buy-to-let’s share of trading fall from 87% from October to December 2015 to just 48.6% one year later.

The results go some way to explaining why the lender branched into residential lending this month, as buy-to-let trading fell from £400.9m from October to December 2015 to £185.2m in the same three months of 2016.

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On 18/01/2017 at 4:35 PM, AndyFTB said:

There are several in Norwich, and if you check Property Bee some are being reduced and still not shifting...

http://www.rightmove.co.uk/property-for-sale/property-58267691.html

The former nurses accommodation block. I was always intrigued as to why this development wasn't fully refurbed at the same time as the houses at the other end of the row. Been listed since March! :blink:

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20 hours ago, Bear Hug said:

It will be interesting to see what this goes for on its auction on 13 Feb.  I am sure it will end up unsold.

Based on those numbers that's a 6.2% gross yield. Read on and you see this includes :

"The licence agreement rents include council tax, gas, electricity, provision of cleaning, sheets/towel change each week, light breakfast provisions"

awful investment! 

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4 hours ago, SOLZHENITSYN said:

Based on those numbers that's a 6.2% gross yield. Read on and you see this includes :

"The licence agreement rents include council tax, gas, electricity, provision of cleaning, sheets/towel change each week, light breakfast provisions"

awful investment! 

Ok, that does make it even worse than I initially thought it was.  If this is short term lets or even B&B business, then there are definitely some additional costs and voids should be expected.  Would they be accounted for in "approximately" £467,575 p.a. rent?  Net yield could easily be 3% on this.

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