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Deezoid

£0-£200m In Five Years

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"That’s the trick to making money in property.

Just keep ploughing the money back into the market. As I reinvest my deals get bigger."

he will go belly up if he is actually leveraging 100% like he is suggesting

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Stories like this confirm to me that there is one hell of a bubble ready to burst,..

"In 2005 I bought the entire stock of flats at a development in Leeds city centre for £35m. The builder, Crosby Homes, was shocked that all 227 flats had gone to one purchaser, but they were pleased."

I bet they were. Not as shocked as his 800 investers will be when they discover the flats are empty and the guaranteed rent period is coming to an end. :ph34r:

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You’ll never become a millionaire by writing.

:lol:

All I could afford was the deposit. To pay the mortgages I founded tenants. The model worked well. As house prices rose I knew I was making money – very satisfying for a poor student.

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You’ll never become a millionaire by writing.

Tell Stephen King, Arthur C Clarke, JK Rowling or Dan Brown + numerous other writers that!!

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Don't suppose he's considered his Capital Gains tax yet, not compulsory on book sales yet I understand. Time yet tho eh Gordon!

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http://www.telegraph.co.uk/property/main.j...0/prmanoj10.xml

2005

As well as this most recent "230, no 220, um 200 or something in that region", he casually mentions that he has also just bought 120 in the La Salle block next door and negotiated with Knight Frank for a further 103 round the corner in Cartier House.

http://leeds.gumtree.com/leeds/61/7828161.html

1 bed apartment for sale at the prestigious Clarence Dock development in Leeds city centre.

This apartment is in the 'La Salle' building situated at the side of the dock.This comes with 12 months free parking in the multi storey car park, after which contract parking is available.

These apartments are to be completed by approx Nov 2007 and are to be fitted to a very high specification.

As part of the deal, the property comes with a guaranteed rental yield of 5.5% should the plot to be bought by an investor to rent out, therefore a regular income regardless of wether it is tenanted for the first year.

This plot is located on the 8th floor with views over the city which gets glorious sun in the afternoon.

Clarence Dock is soon to be home to many trendy bars, retail outlets and a casino adjacent to the dock which will prove to be one of the most desirable places in Leeds city centre to live!

Be one of the lucky individuals to become part of this very sassy development

Edited by Ash4781

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I doubt he is really worth £200 million just from BTL, that would mean he is in the same league of the big commercial developers who have big land banks and developments in the pipeline.

He must be very highly geared.

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Im just suprised lenders will let him do that.. put deposits down.. gain equity.. sell/remortgage.. more deposits

did someone say PONZI scheme?

leveredge hell.

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"In 2005 I bought the entire stock of flats at a development in Leeds city centre for £35m. The builder, Crosby Homes, was shocked that all 227 flats had gone to one purchaser, but they were pleased."

I bet they were. Not as shocked as his 800 investers will be when they discover the flats are empty and the guaranteed rent period is coming to an end. :ph34r:

"1 bed apartment for sale at the prestigious Clarence Dock...

These apartments are to be completed by approx Nov 2007...

As part of the deal, the property comes with a guaranteed rental yield of 5.5% should the plot to be bought by an investor to rent out, therefore a regular income regardless of wether it is tenanted for the first year."

Nice research. I stand corrected.

Any BTL buyer will have the comfort of one year of a guaranteed yield of 5.5% in a falling asset. (Advert boasts "reduced price")

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Id rather wite one outstanding critically acclaimed book, and be poor, than have a million pounds.

But then i value some things above money. I must be strange.

Yes, very strange. If you are happy, thats the real question if so, dont change. Strange can be good.

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