Its time to buy Posted May 10, 2006 Share Posted May 10, 2006 http://cgi.ebay.co.uk/Bedfordshire-Buy-to-...1QQcmdZViewItem generates £1700 PCM wow Quote Link to comment Share on other sites More sharing options...
BTman Posted May 10, 2006 Share Posted May 10, 2006 If it's such a great investment, why are they selling it..... Quote Link to comment Share on other sites More sharing options...
BillyShears Posted May 10, 2006 Share Posted May 10, 2006 http://cgi.ebay.co.uk/Bedfordshire-Buy-to-...1QQcmdZViewItem generates £1700 PCM wow Having a look around, the purchase price seems comparable to other houses in the area. Not enough houses on rightmove with 5 bedrooms in that area, but similar looking 4 beds go for about £900pcm. The prices for the rooms seem high, but not beyond the realms of possibility. The gross yield is 11.33%. Seems very high for current days and certainly worthwhile for an investor. I've got a slight feeling that something is wrong, but you'd think that if the figures weren't as stated, then any purchaser would notice the difference after they bought the house when the rents were revealed to be less than stated. So unless there's a bait and switch, surely it would have to be above board. Not that I'm suggesting that this is being done in the current sale Ms Lawyer Ma'am, but there could be a nice little earner set up by a group of people. They buy a house, one posing as the landlord, and the others as tenants. The tenants agree to very high rents, which is returned to them under the table. The house then goes on sale with sitting tenants and a mouth-watering yield. Once the house is sold, the tenants all put in their notice, and move onto the next property. Looking around Dunstable this property looks to be a winner given the quality of the photos: http://www.rightmove.co.uk/viewdetails-636...pa_n=1&tr_t=buy Billy Shears Quote Link to comment Share on other sites More sharing options...
Rachman Posted May 10, 2006 Share Posted May 10, 2006 It's an ex-council house, right ? 5 sharing and independent professional renters in one small ex-council house, each paying that much rent when you can rent a more space for a lot less in a nicer area. BTW, it appears to have no lounge. In effect all the rooms other than the kitchen and the bathroom and what I guess is a converted garage at the back. You tell me what professional tenant pays £80 a week to share a bathroom with three other people in Dunstable. Stinks. Quote Link to comment Share on other sites More sharing options...
AteMoose Posted May 10, 2006 Share Posted May 10, 2006 (edited) does this need to be HMO licenced? 5 or more people living on three or more floors from two or more families? just read the ebay ad, NO (for now , i guess it only has two floors Edited May 10, 2006 by moosetea Quote Link to comment Share on other sites More sharing options...
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