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eric pebble

Do You Want A Real Laugh?!

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"....it’s over. It’s too late to get into buy-to-let. There have been too many television programmes showing people how to refurbish buildings, so it has pushed the market up to the point where there is no profit in it any more. Birmingham city centre is in a desperate state, with yields of about 3.5% and massive voids.”

http://property.timesonline.co.uk/article/...2161897,00.html

Laugh or what??!!!! :lol::lol::P

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"....it’s over. It’s too late to get into buy-to-let. There have been too many television programmes showing people how to refurbish buildings, so it has pushed the market up to the point where there is no profit in it any more. Birmingham city centre is in a desperate state, with yields of about 3.5% and massive voids.”

http://property.timesonline.co.uk/article/...2161897,00.html

Laugh or what??!!!! :lol::lol::P

Good one!

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There will plenty of wealthy propety developers that will disagree with you.

I think Birrmingham have played the "we are the 2nd city in England"card a bit too often. Loads of amateur LL's, probably with financial backing from their parents, would have jumped on the bandwagon, only to realise that it's not that easy any more. Unless they make bigs changes to a property, the chances of 5%+ yields are rare these days.

But professional property developers will continue to make substantial yields and capital profit because they buy cheap and add value by carrying out the sort of work that some of you lazy bears can't be bother to do.

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“I am relatively financially astute,” he says...
:unsure:
So he’s washing his hands of buy-to-let in Britain and is off to buy a flat in the French ski resort of Flaine. “The French Alps is a fantastic place to be putting money right now. The demand for skiing is seeing no drop, and prices are rising.”

:lol::lol:

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This guy's story has been mentioned before:

http://www.housepricecrash.co.uk/forum/ind...showtopic=29482

But professional property developers will continue to make substantial yields and capital profit because they buy cheap and add value by carrying out the sort of work that some of you lazy bears can't be bother to do.

Do BMV parasites qualify as professional property developers? One of the many sad things about the propertee bubble is that interior decorators seem to think they're professional developers. IMO, the professional developers are the ones that buy land and build new places (much higher profits thru higher margins & turnover, no tenant hassle, etc.) - Easy way to tell the difference between 'interior decorators' and 'professional developers'? Experience working in the property market before starting BTL speculation, and/or property related qualifications.

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"....it’s over. It’s too late to get into buy-to-let. There have been too many television programmes showing people how to refurbish buildings, so it has pushed the market up to the point where there is no profit in it any more. Birmingham city centre is in a desperate state, with yields of about 3.5% and massive voids.”

http://property.timesonline.co.uk/article/...2161897,00.html

Laugh or what??!!!! :lol::lol::P

I don't think many people realise these programmes are 2/3/4 year old repeats

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This guy's story has been mentioned before:

http://www.housepricecrash.co.uk/forum/ind...showtopic=29482

Do BMV parasites qualify as professional property developers? One of the many sad things about the propertee bubble is that interior decorators seem to think they're professional developers. IMO, the professional developers are the ones that buy land and build new places (much higher profits thru higher margins & turnover, no tenant hassle, etc.) - Easy way to tell the difference between 'interior decorators' and 'professional developers'? Experience working in the property market before starting BTL speculation, and/or property related qualifications.

No formal property qualifications but I do have a btl that yields nearly 7% and is worth £30k more than the price I paid, simply by removing 1 wall, changing the kitchen, bathroom and carpets/laminated flooring and decorating.

I am qualified enough to inform others that it isn't impossible to buy BMV. Not necessarily a btl, but a family home too.

BMV parasites? Do you mean people that have gotten wealthy and have little or no mortgages?

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Enworb your comment about bears is plain absurd.

Plenty of people on here work extremely hard, and do more with their spare time than just tart up some poxy 1-bed with plaster board and Ikea furniture.

The world doesn't revolve around the BTL industry, as will become apparent when IRs go up.

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BMV parasites? Do you mean people that have gotten wealthy and have little or no mortgages?

In reality there are very few of those. And those that did make money from it aren't the ones that mewed to the eyeballs in order to finance it and only recently jumped on the BTL bandwagon.

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Enworb your comment about bears is plain absurd.

Plenty of people on here work extremely hard, and do more with their spare time than just tart up some poxy 1-bed with plaster board and Ikea furniture.

The world doesn't revolve around the BTL industry, as will become apparent when IRs go up.

I wasn't implying that all bears on this forum are lazy. I used the word SOME because obviously there are plenty of bears that do work hard in other ways.

I am not a property developer/investor. I wantd to sell my place and then buy another, which needed work doing to it to make it habitable. Unfortunately, it had tenants (town centre location, otherwise nobody in there right mind would live in those conditions) and so I chose to btl temporarily because it had scope for improvement. It's only 10 doors down from my place so I still plan to move into it in a couple of years.

So, i'm not saying btl makes the world go round. I'm saying that there are properties to be had by ALL at bmv, just as long as they are not shy of a little hard work.

As for IRs going up. You're being plain absurd :D

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No formal property qualifications but I do have a btl that yields nearly 7% and is worth £30k more than the price I paid, simply by removing 1 wall, changing the kitchen, bathroom and carpets/laminated flooring and decorating.

I am qualified enough to inform others that it isn't impossible to buy BMV. Not necessarily a btl, but a family home too.

BMV parasites? Do you mean people that have gotten wealthy and have little or no mortgages?

How much did the works cost though?

Moving a wall, a new kitchen (if its any good), new bathroom, carpets/flooring and decorating will easily eat most of your perceived £30K gains.

Does it still yield 7% against its current value?

Do you think you could actually sell it for the value?

I'm saying that there are properties to be had by ALL at bmv, just as long as they are not shy of a little hard work.

As for IRs going up. You're being plain absurd :D

If there are BMV opportunities for ALL, then this is not BMV its MV :lol::lol::lol::lol:

And around my way houses that need work seem to sell for the same price (or at least negligible difference) to those that have already been done - probably due to property porn exposure of the masses.

As for IRs going up - look at the futures market - they are.

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How much did the works cost though?

Moving a wall, a new kitchen (if its any good), new bathroom, carpets/flooring and decorating will easily eat most of your perceived £30K gains.

Does it still yield 7% against its current value?

Do you think you could actually sell it for the value?

All work carried out cost less than £2.5K. Add on all fees and it's still liess than £4k.That included fully furnishing it with a cooker, fridge freezer, dishwasher,washer dryer, 3 piece suite, dining table and chairs, 4 meters of waldrobes and probably a few more I can't remember.

The reason it was so cheap. I bought a second hand kitchen off of ebay. Almost brand new but the owners were knocking down their bungalow and building a house. Just a little carpentry to make it fit.

In fact a lot of the appliances were from ebay or free ads. Perfectly good order and named brands like Bosch, Zanussi.

I am as shocked as anybody when I watch Sarah Beany's show, and they are spending 10K+ on a kitchen...plus labour costs.

My near 7% yield is not affected that much and I know I could charge more rent but I am not in it for the long term. Nothing to do with how I see the property market. I would just prefer to move into my btl and have a very small mortgage.

The £30k I quoted. That.s what i'd expect within a week. A flat in the same conversion with 1 less bedroom and open planned kitchenette (in the same size lounge I have) sold for £15k more than I paid for my 2 bed.

Had I used a builder it would have been over £10k but I did everything myself around my regular job.

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BMV parasites? Do you mean people that have gotten wealthy and have little or no mortgages?

The Below Market Value / By Motivated Vendor - Singing Pig / Inside Track - Grab the repo off the poor sod before the bank does type thing. As practiced by EAs, etc.

Your earlier post sounded like you were a professional propertee developer who flips BMVs. My apologies if you're an normal BTL speculator!

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"....it’s over. It’s too late to get into buy-to-let. There have been too many television programmes showing people how to refurbish buildings, so it has pushed the market up to the point where there is no profit in it any more. Birmingham city centre is in a desperate state, with yields of about 3.5% and massive voids.”

http://property.timesonline.co.uk/article/...2161897,00.html

Laugh or what??!!!! :lol::lol::P

“It has one and a half bedrooms and one bathroom."

What, pray tell, is half a bedroom? Is it for a child or a dwarf? :blink:

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“It has one and a half bedrooms and one bathroom."

What, pray tell, is half a bedroom? Is it for a child or a dwarf? :blink:

if you can fit a double bed in the room then it's a double bedroom - seems to be the norm at the moment. So I suppose if you can only get a single bed half way thru the door then it's a half bedroom :lol:

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"And in the past five years, in South Kensington anyway, there has been no capital growth."

I find this almost impossible to believe. We've just been through the longest property bull run ever, haven't we - no capital growth in one of the most 'desirable' areas of London? Strangely enough, I think that must be bull! :blink:

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But professional property developers will continue to make substantial yields and capital profit because they buy cheap and add value by carrying out the sort of work like adding laminate flooring & painting the walls magnolia, that some of you lazy bears can't be bother to do bought pre-2000 at cheap prices

That's Better!

:D

Edited by A Fool & His Borrowed Money

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The Below Market Value / By Motivated Vendor - Singing Pig / Inside Track - Grab the repo off the poor sod before the bank does type thing. As practiced by EAs, etc.

We are talking about people who target motivated sellers here - prey on them even. Divorces / Family Disasters etc. They often do it by leaflet drops "do you need to sell your home fast?" etc...

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The whole article doesn't seem to understand what yield is. I bought my house in 1890 for £1 my yield is 100000% type rubbish. Surely yield is rent / todays (albeit number plucked out of the sky) price?

My brother, 3 of my good friends -- have Btl's in Cheltenham, & London ...... and ALL of them are having to subsidize their tenants by c. £125pm -- i.e. they have to chip in this amount every month to cover the mortgage..... and this does not include all those costs that turn up -- e.g. roof, boiler, wiring etc etc.

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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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