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Without_a_Paddle

How To Make A Lot More Than £440k In 2yrs

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If you read Music Man's recent thread on how a landlord lost £440k in less than a year then you may smile.

http://www.housepricecrash.co.uk/forum/ind...showtopic=23994

However, I couldn't resist checking out his figures and it appears Music Man has some humble pie to eat.

He looked up the wrong property to compare bought and sold prices. i.e. he looked up Derby Road, Nottingham instead of Nottingham Road, Derby.

If you go on houseprices and look up the last time the 'correct' 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 his 11 houses in Nottingham Road at these prices I would guess he is looking to make a mint if he is selling at £90k average.

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

:lol:

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.

I think it's safe to assume that the above Landlord's quote was 'made up' by Music Man

Sad really....

What's even sadder about the thread is that it appears that once again the bears never question what they 'like' hearing.

I mean ffs who is going to buy 11 properties in a job lot at full MV and then sell them a year later at an asking price 31% lower?

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I know the area: used to live there.

Derby Road and Nottingham Road are one and the same. It is the road connecting the two cities.

The part of the road nearest to Derby is Nottingham Road, :blink: , and the part nearest to Nottingham is Derby Road.... :blink:

lander22ey.gif

post-67-1139689944.gif

Edited by Baz63

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Who did buy them then, Mother Theresa and then gave them away?

There are 11 bought on 08/03/2005, at a rough average of £125 - £130K now all to be sold at £950K.

Can you make that work for you?

'PARODY' a comic imitation of a work or style.

I guess we're all reporters here.

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Who did buy them then, Mother Theresa and then gave them away?

There are 11 bought on 08/03/2005, at a rough average of £125 - £130K now all to be sold at £950K.

Can you make that work for you?

'PARODY' a comic imitation of a work or style.

I guess we're all reporters here.

The 11 properties at the Cigar Factory (11 bought on 08/03/2005, at a rough average of £125 - £130K) are in Derby Road NOTTINGHAM.

The 11 properties for sale at £950k are in Nottingham Road, DERBY.

Why are you making a connection between the prices of properties in different cities?

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The 11 properties at the Cigar Factory (11 bought on 08/03/2005, at a rough average of £125 - £130K) are in Derby Road NOTTINGHAM.

The 11 properties for sale at £950k are in Nottingham Road, DERBY.

Why are you making a connection between the prices of properties in different cities?

maybe the row of houses are in the middle of the two cities therefore spanning both addresses

well i dun know :lol:

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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.

We'll see who's right, 11 flats bought 2005 and for sale 2006 is to me a justifyable mistake if it turns out that way.

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maybe the row of houses are in the middle of the two cities therefore spanning both addresses

well i dun know :lol:

Well they have totally different postcodes. One is in Derby and one in Nottingham!

The cigar factory is obviously a factory converted into flats.

Just look at how many flats there are at 158 Derby Road Nottingham.

08/03/2005 £100,750 Flat L/H Map 158 The Cigar Factory, 13 Apartment, Derby Road, Nottingham, City Of Nottingham, NG7 1LR

58 08/03/2005 £108,500 Flat L/H Map 158 The Cigar Factory, Flat 8, Derby Road, Nottingham, City Of Nottingham, NG7 1LR

59 08/03/2005 £108,500 Flat L/H Map 158 The Cigar Factory, Flat 26, Derby Road, Nottingham, City Of Nottingham, NG7 1LR

60 08/03/2005 £112,375 Flat L/H Map 158 The Cigar Factory, Flat 22, Derby Road, Nottingham, City Of Nottingham, NG7 1LR

61 08/03/2005 £112,375 Flat L/H Map 158 The Cigar Factory, Flat 25, Derby Road, Nottingham, City Of Nottingham, NG7 1LR

62 08/03/2005 £118,570 Flat L/H Map 158 The Cigar Factory, Flat 21, Derby Road, Nottingham, City Of Nottingham, NG7 1LR

63 08/03/2005 £135,625 Flat L/H Map 158 The Cigar Factory, Flat 9, Derby Road, Nottingham, City Of Nottingham, NG7 1LR

64 08/03/2005 £139,500 Flat L/H Map 158 The Cigar Factory, Flat 11, Derby Road, Nottingham, City Of Nottingham, NG7 1LR

65 08/03/2005 £139,500 Flat L/H Map 158 The Cigar Factory, Flat 17, Derby Road, Nottingham, City Of Nottingham, NG7 1LR

66 08/03/2005 £143,750 Flat L/H Map 158 The Cigar Factory, Flat 10, Derby Road, Nottingham, City Of Nottingham, NG7 1LR

67 08/03/2005 £148,800 Flat L/H Map 158 The Cigar Factory, Flat 24, Derby Road, Nottingham, City Of Nottingham, NG7 1LR

The above is just a few.

Compare this to 158 Nottingham Road, Derby

http://www87.vebra.com/cgi-win/vebra.cgi?d...h=1∝=132693

19482.jpg

Does number 158 look like a converted cigar factory containing at LEAST two dozen flats?

It looks more like a sh!thole terrace to me....

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Guest muttley

Thanks for the advice Without a Paddle.

So to recap....In order to make 440k i have to buy 13 properties for 20k each.....

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Guest Bart of Darkness

Glad to know you chose to be a music man and not a postman...

Either would be preferable to being an EA.

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  • 301 Brexit, House prices and Summer 2020

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      • down 5% +
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      • up 5%



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