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music man

How To Lose £440k In Less Than A Year

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original post - http://www.housepricecrash.co.uk/forum/ind...topic=23986&hl=

rightmove - http://www.rightmove.co.uk/viewdetails-400...a_n=15&tr_t=buy

house prices - http://www.houseprices.co.uk/e.php?q=NOTTI...%2C+DERBY&n=100

Look for house number 158 and you'll find the buyer is selling for roughly £460K short of the initial payment - Oh Dear!

Woops he / she had a slip of the finances. What a silly blighter.

Bought at ave. £130K each and is selling 8 months later at ave. £90K.

He should have paid attention in maths class and certainly studied compound interest.

Anyone fancy being a land-lord.

£40K loss on each house x 11 = £440K.

Lardlord when asked his oppinion said, 'You know you live and learn - I thought house prices always went up'. Landlord also added it was an easy mistake to make and the mortgage lenders kept throwing money at him. He also regrets this as he will have to sell his 4 track, plasma screen, stop going to the race track and budget for other of lifes neccessities.

Edited by music man

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original post - http://www.houseprices.co.uk/e.php?q=NOTTI...%2C+DERBY&n=100

http://www.houseprices.co.uk/e.php?q=NOTTI...%2C+DERBY&n=100

Look for house number 158 and you'll find the buyer is selling for roughly £460K short of the initial payment - Oh Dear!

Woops he / she had a slip of the finances. What a silly blighter.

Bought at ave. £130K each and is selling 8 months later at ave. £90K.

He should have paid attention in maths class and certainly studied compound interest.

Anyone fancy being a land-lord.

£40K loss on each house x 11 = £440K.

Lardlord when asked his oppinion said, 'You know you live and learn - I thought house prices always went up'. Landlord also added it was an easy mistake to make and the mortgage lenders kept throwing money at him. He also regrets this as he will have to sell his 4 track, plasma screen, stop going to the race track and budget for other of life neccessities.

Hi do you have a link to the report where LL is quoted? cheers

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From the Rightmove link:

Most of the properties are currently let and are capable of producing an income of circa £50,000 per annum

Come on spit it out - how many ARE let and what income ARE they actually producing.

Edited by OnlyMe

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at worst 2 could be let and the rest vacant or unlettable without major works. Could be a real nightmare, rather than a goldmine

Yep and lose another £440K.

Prices always go up, safe as houses mate, you know the score!!

Edited by music man

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Is nobody to comment on the £440K lost in a year as this is a hpc forum.

And are we to assume that this is an isolated incedent? How many more are to come this year and aren't we gonna enjoy this crash?

In my oppinion the crash has started and it's called a crash because once it hits a critical mass it doesn't stop untill the full force is relinquished. There's a heavy load behind this market force and to stop it will take much time.

Patience is a virtue.

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Is nobody to comment on the £440K lost in a year as this is a hpc forum.

And are we to assume that this is an isolated incedent? How many more are to come this year and aren't we gonna enjoy this crash?

In my oppinion the crash has started and it's called a crash because once it hits a critical mass it doesn't stop untill the full force is relinquished. There's a heavy load behind this market force and to stop it will take much time.

Patience is a virtue.

Yep. From 130 to 90 per unit. Thats 31%

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Is nobody to comment on the £440K lost in a year as this is a hpc forum.

And are we to assume that this is an isolated incedent? How many more are to come this year and aren't we gonna enjoy this crash?

Lardlord when asked his oppinion said, 'You know you live and learn - I thought house prices always went up'. Landlord also added it was an easy mistake to make and the mortgage lenders kept throwing money at him. He also regrets this as he will have to sell his 4 track, plasma screen, stop going to the race track and budget for other of life neccessities.

This sounds like it's been made up. Please supply a link to how you got this info.

Edited by Without_a_Paddle

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Is nobody to comment on the £440K lost in a year as this is a hpc forum.

And are we to assume that this is an isolated incedent? How many more are to come this year and aren't we gonna enjoy this crash?

In my oppinion the crash has started and it's called a crash because once it hits a critical mass it doesn't stop untill the full force is relinquished. There's a heavy load behind this market force and to stop it will take much time.

Patience is a virtue.

Indeed - although I feel we have seen a sucker's rally since the cut in Irs and if they cut them again, we could see another blip. It's only delaying the inevitable, of course... ;)

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I knew this was fishy.

Music Man is spinning you all a lie IMO.

If you go on houseprices and look up the last time number 158 sold it was in 2003.

FOR £20k

92 03/03/2003 £20,500 Ter. F/H Map 158, Nottingham Road, Derby, City Of Derby, DE21 6AQ

If the LL bought the rest of the houses at these prices I would guess he is looking to make a mint.

Perhaps Music Man can work out for us all how much PROFIT the LL has made in two years?

:lol::lol::lol::lol::lol::lol::lol::lol::lol:

WHAT A PLONKER

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I knew this was fishy.

Music Man is spinning you all a lie IMO.

If you go on houseprices and look up the last time number 158 sold it was in 2003.

FOR £20k

92 03/03/2003 £20,500 Ter. F/H Map 158, Nottingham Road, Derby, City Of Derby, DE21 6AQ

If the LL bought the rest of the houses at these prices I would guess he is looking to make a mint.

Perhaps Music Man can work out for us all how much PROFIT the LL has made in two years?

:lol::lol::lol::lol::lol::lol::lol::lol::lol:

WHAT A PLONKER

Yep - someone may have made a mint between 2003 and 2005 but the sucker who bought in 2005 hasn't done so well?

Get the facts and make your own minds up. It does say 08/03/2005 sale dates. Then came the next buyer and a year later we see what we have now?

Don't shoot the messenger 'Without a Paddle' and check for me my eyes aren't fooling me. Anyone else please check I'm not goin insane. But good point on the one 2003 purchase, there are no others though to review.

So the point to me is someone is £440K down, however there are apparently 2 flats as well.

I say he's the plonker.

Anyway a little journalistic licence and a good headline is worthwhile.

Get back to me on the 2005 date WAP man, and tell me your thoughts?

Edited by music man

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Yep - someone may have made a mint between 2003 and 2005 but the sucker who bought in 2005 hasn't done so well?

Get the facts and make your own minds up. It does say 08/03/2005 sale dates. Then came the next buyer and a year later we see what we have now?

Don't shoot the messenger 'Without a Paddle' and check for me my eyes aren't fooling me. Anyone else please check I'm not goin insane. But good point on the one 2003 purchase, there are no others though to review.

So the point to me is someone is £440K down, however there are apparently 2 flats as well.

I say he's the plonker.

Anyway a little journalistic licence and a good headline is worthwhile.

Get back to me on the 2005 date WAP man, and tell me your thoughts?

My thoughts are that one of us is dyslexic adn ti ins't em.

Try looking up Nottingham Road, Derby

NOT Derby Road, Nottingham.

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Wow it does appear I nearly made a major one here, why didn't anyone tell me this before I was wrongly named and shamed.

http://www.houseprices.co.uk/e.php?q=158+d...ottingham&n=100

http://www.houseprices.co.uk/e.php?q=158+n...%2C+derby&n=100

Derby Road, Nottingham and Nottingham Road, Derby have the same results.

Fair point for the spanish inquisition.

There's not many 11 flat job lots that are so unfortunately (for one of us) coincedental.

I think maybe it's too big a roll of the dice for me to back down at this stage.

It will be fun to see that we are both correct, both wrong or some shade between.

At least we have realised a mix up and can get on with discovering the truth.

Edited by music man

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