Ah-so Posted October 21, 2017 Share Posted October 21, 2017 1 hour ago, Northern Welsh Midlander said: Yeah they are nice houses, solid well built stock! The area is a bit depressed and I suspect it won't be natives living in the rooms 6 up! 2nd one could work for me if it weren't for the area... not too keen. Not too keen on the price either And the cost of converting back from an HMO to a normal house. Quote Link to comment Share on other sites More sharing options...
spyguy Posted October 21, 2017 Share Posted October 21, 2017 6 minutes ago, Ah-so said: And the cost of converting back from an HMO to a normal house. Not huge. Most hmo are not strutural. Just looks like a big house stuffed full of beds. Quote Link to comment Share on other sites More sharing options...
MattW Posted October 26, 2017 Share Posted October 26, 2017 More BTL-ers running for the exit...here's a development of former offices turned into 40+ flats that went up for let at around £675/month apiece. 1 bedroom flat in NR1 £130k Price range of available flats so far is £120k - £135k depending on how awkward the floorplan is. There isn't a lot of cupboard space in these and no mention of a parking space. A couple of news articles about this complex: Mould, debt and deposits not returned - what is happening at this Norwich block of flats? Two firms at controversial Norwich flats are being chased for £110,000 in unpaid bills. Quote Link to comment Share on other sites More sharing options...
Maynardgravy Posted October 26, 2017 Share Posted October 26, 2017 On 21/10/2017 at 10:08 AM, Ah-so said: They're selling up on Property Tribes too: https://www.propertytribes.com/how-many-properties-have-sold-due-s24-t-127631332.html I feel really dirty after reading that thread. Quote Link to comment Share on other sites More sharing options...
Option5 Posted October 26, 2017 Share Posted October 26, 2017 11 minutes ago, Maynardgravy said: I feel really dirty after reading that thread. Especially the bit about keeping quiet about S24 when selling to new landlords who don't know about it: "Actually I have come to the conclusion that we LL who know all about S24 should keep our mouths SHUT! The reason. We need mug LL ignorant of S24 to buy the properties we are selling up because of........................................S24. If we try to tell them about S24 they might not buy!! Then what!? Let those ignorant mug LL find out the hard way. We PT's should use our knowledge to mug these ignorant LL off." And I thought labelling them scum was a bit off................................. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted October 26, 2017 Author Share Posted October 26, 2017 1 minute ago, Option5 said: Especially the bit about keeping quiet about S24 when selling to new landlords who don't know about it: BTL cannibals. Quote Link to comment Share on other sites More sharing options...
spyguy Posted October 26, 2017 Share Posted October 26, 2017 25 minutes ago, TheCountOfNowhere said: BTL cannibals. Ah better they turn on each other. Rats eating other rats. Quote Link to comment Share on other sites More sharing options...
Sancho Panza Posted October 26, 2017 Share Posted October 26, 2017 (edited) On 10/20/2017 at 10:05 PM, Northern Welsh Midlander said: HMO slumlord making a run for it... http://www.rightmove.co.uk/property-for-sale/property-62331184.html http://www.rightmove.co.uk/property-for-sale/property-62331583.html Nice.Here's one of Leicester's finest trying to exit on a 5% gross yield. http://www.rightmove.co.uk/property-for-sale/property-48457893.html ' This impressive Portfolio comprises a combination of STUDENT LETS / HMO's & BLOCKS OF FLATS generating an Annual Revenue £182,280 and situated in the sought after LE2 postcode of Leicester .' On 10/21/2017 at 11:08 AM, Ah-so said: They're selling up on Property Tribes too: https://www.propertytribes.com/how-many-properties-have-sold-due-s24-t-127631332.html Definite mood change since I last checked in. 2 hours ago, Maynardgravy said: I feel really dirty after reading that thread. x2 Edited October 26, 2017 by Sancho Panza Quote Link to comment Share on other sites More sharing options...
Maynardgravy Posted October 26, 2017 Share Posted October 26, 2017 2 hours ago, Option5 said: Especially the bit about keeping quiet about S24 when selling to new landlords who don't know about it: "Actually I have come to the conclusion that we LL who know all about S24 should keep our mouths SHUT! The reason. We need mug LL ignorant of S24 to buy the properties we are selling up because of........................................S24. If we try to tell them about S24 they might not buy!! Then what!? Let those ignorant mug LL find out the hard way. We PT's should use our knowledge to mug these ignorant LL off." And I thought labelling them scum was a bit off................................. It really is like peeking inside the mind of a sociopath. I'm not saying that for effect. Quote Link to comment Share on other sites More sharing options...
longgone Posted October 26, 2017 Share Posted October 26, 2017 when can some tax changes be introduced for LTD companies holding property Quote Link to comment Share on other sites More sharing options...
Option5 Posted October 26, 2017 Share Posted October 26, 2017 5 minutes ago, Maynardgravy said: It really is like peeking inside the mind of a sociopath. I'm not saying that for effect. Imagine what it's like for his/her tenants? Quote Link to comment Share on other sites More sharing options...
spyguy Posted October 26, 2017 Share Posted October 26, 2017 38 minutes ago, Maynardgravy said: It really is like peeking inside the mind of a sociopath. I'm not saying that for effect. Nah. The mind of someone really, really, really stupid. Quote Link to comment Share on other sites More sharing options...
mrtickle Posted October 26, 2017 Share Posted October 26, 2017 14 hours ago, Option5 said: Especially the bit about keeping quiet about S24 when selling to new landlords who don't know about it: "Actually I have come to the conclusion that we LL who know all about S24 should keep our mouths SHUT! The reason. We need mug LL ignorant of S24 to buy the properties we are selling up because of........................................S24. If we try to tell them about S24 they might not buy!! Then what!? Let those ignorant mug LL find out the hard way. We PT's should use our knowledge to mug these ignorant LL off." And I thought labelling them scum was a bit off................................. Who wrote that? I can't find the post. Quote Link to comment Share on other sites More sharing options...
Confusion of VIs Posted October 27, 2017 Share Posted October 27, 2017 13 hours ago, Sancho Panza said: Nice.Here's one of Leicester's finest trying to exit on a 5% gross yield. http://www.rightmove.co.uk/property-for-sale/property-48457893.html ' This impressive Portfolio comprises a combination of STUDENT LETS / HMO's & BLOCKS OF FLATS generating an Annual Revenue £182,280 and situated in the sought after LE2 postcode of Leicester .' Definite mood change since I last checked in. x2 5% Gross, he will be lucky. 10% might get it shifted. He needs to either double the rents or half the price. Quote Link to comment Share on other sites More sharing options...
Houdini Posted October 27, 2017 Share Posted October 27, 2017 5 hours ago, Confusion of VIs said: 5% Gross, he will be lucky. 10% might get it shifted. He needs to either double the rents or half the price. Given the way the market is moving towards custom built and managed student accommodation a 10% return will still not be enough. Quote Link to comment Share on other sites More sharing options...
NorthernMonkey Posted October 27, 2017 Share Posted October 27, 2017 Indeed, anecdotally, a raft of available student properties in Durham at the moment, hugely overpriced for the local market and they could e lovely family homes again, but he student slumlords have pretty much pushed everyone else to the outskirts of the city. The university and their chosen developers are putting up bespoke units for the students... lots of housing about to become available.... but at what price? 21 minutes ago, Houdini said: Given the way the market is moving towards custom built and managed student accommodation a 10% return will still not be enough. Quote Link to comment Share on other sites More sharing options...
stuckmojo Posted October 27, 2017 Share Posted October 27, 2017 22 hours ago, Option5 said: Especially the bit about keeping quiet about S24 when selling to new landlords who don't know about it: "Actually I have come to the conclusion that we LL who know all about S24 should keep our mouths SHUT! The reason. We need mug LL ignorant of S24 to buy the properties we are selling up because of........................................S24. If we try to tell them about S24 they might not buy!! Then what!? Let those ignorant mug LL find out the hard way. We PT's should use our knowledge to mug these ignorant LL off." And I thought labelling them scum was a bit off................................. Quoting for posterity. Quote Link to comment Share on other sites More sharing options...
Option5 Posted October 27, 2017 Share Posted October 27, 2017 8 hours ago, mrtickle said: Who wrote that? I can't find the post. Page 3 dated 10 Oct at 07:58 Quote Link to comment Share on other sites More sharing options...
Lavalas Posted October 27, 2017 Share Posted October 27, 2017 It will be by Paul Barratt. Unremarkable statement for him to be honest. Some of the posters on Property Tribes understand that the game is up and there’s pretty much zero campaigning across the boards now, but even I know there’s a million things better to be doing than reading any of PB’s extended tripe. Quote Link to comment Share on other sites More sharing options...
Confusion of VIs Posted October 27, 2017 Share Posted October 27, 2017 4 hours ago, Houdini said: Given the way the market is moving towards custom built and managed student accommodation a 10% return will still not be enough. You might be right. A friend who works as a mortgage broker in Blackpool has told me that investors are now looking for a 10% net return. Quote Link to comment Share on other sites More sharing options...
Freki Posted October 27, 2017 Share Posted October 27, 2017 10% net return ? Damn give me a slice of this pie... I work in emerging markets and my company issued bonds under 10%, with all the risks associated ... Quote Link to comment Share on other sites More sharing options...
Bland Unsight Posted October 27, 2017 Share Posted October 27, 2017 2 hours ago, Lavalas said: It will be by Paul Barratt. Unremarkable statement for him to be honest. Some of the posters on Property Tribes understand that the game is up and there’s pretty much zero campaigning across the boards now, but even I know there’s a million things better to be doing than reading any of PB’s extended tripe. Paul is quite a 'character'. IIRC he's been handed a temporary ban by the PovertyTribe moderators on at least one occasion. To be fair he's been much more realistic about the consequences of Section 24 and PRA SS13/16 from the outset than some of the other PT posters and the point that he's making is one that we've made repeatedly - a really canny portfolio leveraged landlord who felt that their bet was about to sour would just keep their mouth shut and start selling up. Quote Link to comment Share on other sites More sharing options...
Confusion of VIs Posted October 27, 2017 Share Posted October 27, 2017 1 hour ago, Freki said: 10% net return ? Damn give me a slice of this pie... I work in emerging markets and my company issued bonds under 10%, with all the risks associated ... Maybe better to be in emerging rather than dying markets. Quote Link to comment Share on other sites More sharing options...
Lavalas Posted October 27, 2017 Share Posted October 27, 2017 1 hour ago, Beary McBearface said: Paul is quite a 'character'. IIRC he's been handed a temporary ban by the PovertyTribe moderators on at least one occasion. To be fair he's been much more realistic about the consequences of Section 24 and PRA SS13/16 from the outset than some of the other PT posters and the point that he's making is one that we've made repeatedly - a really canny portfolio leveraged landlord who felt that their bet was about to sour would just keep their mouth shut and start selling up. Yeah, you're right actually. He is one of the more realistic ones. He doesn't give away specifics but he has openly stated that he's utterly stuffed by S24 and there's nothing he can do. I don't suppose it would take many guesses to work out why and it is this fact that probably leads to some of his more outlandish ideas. Quote Link to comment Share on other sites More sharing options...
longgone Posted October 27, 2017 Share Posted October 27, 2017 1 hour ago, Beary McBearface said: a really canny portfolio leveraged landlord who felt that their bet was about to sour would just keep their mouth shut and start selling up. i sold a car once that needed a new engine but did run so appeared to be working well . hardly canny is it , fool looking for a bigger one. Quote Link to comment Share on other sites More sharing options...
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