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ScaredEitherWay

2-bed Mid-terrace House, Cardiff

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Just found one.

Bought in 2003 for £93k. Sold in 2004 for £140k. Nice £47k profit.

Next owner.... 3 years on selling at £155k.

£15k in 3 years - if you ignore the costs to buy/sell (stamp duty, solicitors, furnishing, etc) that is a 5.25% ROI.

Count in the costs: Stamp Duty £1400, Solicitor to Buy/Sell £600(?), Furnishings £2000 brings the total investment to £144k which would make it closer to 3.75% YoY returns.

Should have stuck it in the bank mate.

Reading it through, available fully furnished if you want - looks like a BLT.

This area is down in Cardiff Bay/docks area - heavily over-developed with posh flats, probably mainly BTL area

If the house had been an end link, I'd have probably chipped in at £115k to see if he bites my hand off.

It's been "for sale" at least since February 2007

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Just found one.

Bought in 2003 for £93k. Sold in 2004 for £140k. Nice £47k profit.

Next owner.... 3 years on selling at £155k.

£15k in 3 years - if you ignore the costs to buy/sell (stamp duty, solicitors, furnishing, etc) that is a 5.25% ROI.

Count in the costs: Stamp Duty £1400, Solicitor to Buy/Sell £600(?), Furnishings £2000 brings the total investment to £144k which would make it closer to 3.75% YoY returns.

Should have stuck it in the bank mate.

Reading it through, available fully furnished if you want - looks like a BLT.

This area is down in Cardiff Bay/docks area - heavily over-developed with posh flats, probably mainly BTL area

If the house had been an end link, I'd have probably chipped in at £115k to see if he bites my hand off.

It's been "for sale" at least since February 2007

You forgot to include the estate agent fees when selling, at least 2 grand (1.5% of sale price) plus the mortgage for 3 years (although it may not have been much higher than the rental costs for such a property).

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You forgot to include the estate agent fees when selling, at least 2 grand (1.5% of sale price) plus the mortgage for 3 years (although it may not have been much higher than the rental costs for such a property).

I didn't include the estate agent fees as he seemed to be advertising it himself on a £30 type site.

I ignored the mortgage because any figures would be speculative, but £125k at 7% is £730 - so still not in dire trouble. Of course if you have a 2 month void after every 6 month let it makes a difference.

Rent on a 2-bed down that way I'd expect to be about £700/month so it's possible if you can fill it to make money on this.

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