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Sledgehead

Homesuhammer : 3bed Semi £100k Bargain!

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In Scunthorpe, a 6yr experienced developer buys a 3 bed semi in Scunthorpe for £101k. He hadn't looked at the interior.

When he visited the place, he found it to be in pristine condition. Basically the refurb took 2 days - he cut the grass, spending £300.00

Great, eh?

Uh, well, not really.

He hadn't researched the area either. The thing is this prog was made not in 2005 nor 2006, but last year in September. Needless to say the market had slowed. Indeed the road had at least a couple of props on the mkt for 2 years.

With fees he'd spent £104k.

Estate agents say it's worth marketing @ 108->109, though one wonders why the original owners didn't go that route.

Rent wise it could have achieved 500pcm (EA est). UNfortunately that's just 5.7% - not enough to cover the mortgage.

What could possibly have gone wrong. :lol:

Can you say "market"?

Naturally he's holding out for higher prices, whilst the "rent machine" is stuck in reverse.

I suspect HUTH could be showing a few more live this, despite their preference for 100% success stories.

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got a linky.love to look.Absolutely detest HUTH.At least beeny and her show put the dates on.

If I'd have recorded it to SD card from the Panny that would be a YT upload, but I cap'ed it on my Avermedia PC card in some god-awful format that Windows media player struggles to open. I'll look into it and see what I can manage.

It was most amusing to see how perverse the market has become. One can almost imagine a dev'er meeting his dev'er m8 down the pub and describing the interior of his most recent purchase as dire. "You mean not a thing to do?" responds the m8.

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Watched it as well. Been looking for it on rightmove but can't find it, gave up after trawling through over 500 properties in that price range :lol: Anyone from Scunthorpe here?

The couple that bought the property in East Preston W. Sussex in April 07, looks like they marketed it with the chinless wonder, probably started off at £169,950, now at £159,950.

Does anyone on these shows actually buy a house to live in?

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These muppets can no longer rely on HPI to save their ass.

The more recently made programs will be worth watching. Its going to be a good laugh watching the episodes made in 2008.

That is one thing that always amused me about some of these shows where the presenter essentially says:

Yes you've made £20k profit in 9months but you overspent on EVERYTHING, gave up your job and the earnings from it, spent every waking hour working on the "property"and your marriage is falling apart from the strain. However because the market was going through the roof if you had bought the house and sat on it for the same amount of time you could have made £40k.

.

These people weren't professional developers they were speculators who needed something to keep their hands busy.

.

ST

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the cost of the home information pack will have eating most of there profit.

if they took out a loan to buy this property they will be making nothing at all

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If I'd have recorded it to SD card from the Panny that would be a YT upload, but I cap'ed it on my Avermedia PC card in some god-awful format that Windows media player struggles to open. I'll look into it and see what I can manage.

It was most amusing to see how perverse the market has become. One can almost imagine a dev'er meeting his dev'er m8 down the pub and describing the interior of his most recent purchase as dire. "You mean not a thing to do?" responds the m8.

Offtopic - but what panasonic is that. I wouldn't mind being able to copy stuff to sd and play divxs on a hard disc/dvd recorder.

Ontopic - sorta - this is prob why I cant buy a house. all these ipods and dvd players ;)

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'Taint that one - by the end of the programme he'd replaced the grass with nasty gravel and concrete & put up a new curvy wooden fence. Otherwise very similar, though.

that had to cost more than the 300 pounds he said he only spent

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  • 295 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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