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Btl 'investor' Bails Out

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from the motley fool ....

http://boards.fool.co.uk/Message.asp?mid=9955226

he paints a rosey picture but the bottom line is hes selling out to his tennant at 25% below 'market value'! need a few more of these

Seems like a more reasonable BTLer:

<With regard to the last point, we are selling to our long term tenant for around 75% of its open market value. The other choice was to turf her out and tart the place up. It's been her home for a decade and I'm not interested in putting a woman and two childern out on the street for the sake of money. There are more important things in life!>

...bet there are not that many like him out there!!

Edited by Shamus

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Agreed, but I think that it may also be in the landlords interest as well.

He gets a quick sale, at a price that although is below market value, if he advertised it, he may find it difficult to sell if it is occupied, and if he turfs the tennant out, he may well have a void period between vacating, and finalising a sale.

He may also only get 90% of the offer price (assuming he wants a quick sale). Perhaps it is better than chasing the market down.

Also, as previosly mentioned, he may have to spend a few grand on repairs, etc. Not to mention estate agent fees.

Indeed, he has probably still made a massive profit if he bought pre 2000.

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from the motley fool ....

http://boards.fool.co.uk/Message.asp?mid=9955226

he paints a rosey picture but the bottom line is hes selling out to his tennant at 25% below 'market value'! need a few more of these

What a TOP BLOKE!!!

Shame there are people that would sell their family to get more money. Makes you think that not ALL people are greedy bastards.

TB

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Guest Winners and Losers

Seems like a more reasonable BTLer:

<With regard to the last point, we are selling to our long term tenant for around 75% of its open market value. The other choice was to turf her out and tart the place up. It's been her home for a decade and I'm not interested in putting a woman and two childern out on the street for the sake of money. There are more important things in life!>

...bet there are not that many like him out there!!

He's ruining TTRTR's reputation. :o It has taken him years to build up that ruthless landlord persona. :angry:

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I'd like to give him the benefit of the doubt, too, like TB, and think that he's just a decent person. He's pretty comfortably off and in a position to be considerate towards a tenant who's paid him rent all these years. Lots of people behave well when they can afford to and there are even some who do so when they can't really afford to! Pleasant old geezer gets a pat on the back from me. :)

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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