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bomberbrown

Errrr...increase The Price By £200k...

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History

30th Jun 2008 * Status changed: from 'Available' to 'Sold STC'

9th Jun 2008 * Price changed: from '£700,000' to '£900,000' [Found by boxhead]

7th Apr 2008 * Initial entry found. [Found by beerhunter]

http://www.rightmove.co.uk/viewdetails-196...12&tr_t=buy

:lol::lol::lol::lol: ....no wait........ :lol::lol::lol::lol::lol:

Funny old world. If I had 900k spare I'd stick in in the bank and concentrate on spending the 40k interest.

Mind you, I would no doubt then miss out on considerable capital growth.

Maybe I'd just put 15% deposit down and finance the rest - and pay the mortgage out of the rent. Even at 6% the interest would be 45k. How much is the rent? Must be a lot more than that for the numbers to add up.

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19 rooms to let... that's a cool 4% return on your capital before any costs, repairs, maintenance, taxes etc. Of course there's no way you can borrow as low as 4% so the buyer will be subsidizing those students. The summer will be mainly void of course.

I'm baffled. :huh:

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Guest DissipatedYouthIsValuable
19 rooms to let... that's a cool 4% return on your capital before any costs, repairs, maintenance, taxes etc. Of course there's no way you can borrow as low as 4% so the buyer will be subsidizing those students. The summer will be mainly void of course.

I'm baffled. :huh:

3.9% yield at best.

Sack of shite.

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Funny old world. If I had 900k spare I'd stick in in the bank and concentrate on spending the 40k interest.

While the 900k gets eaten away by inflation! No wonder you don't have 900k in the bank ;)

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The blurb is quite revealing...

Two very impressive properties expertly divided to create 19 letting rooms producing an income of £35,681 per annum. Contracted with Warwick University until July 2008 with an option for a further 3 years. Part of a 13 property portfolio. Discounts available for multiple purchases.

Someone is offloading their collection of HMOs. "Discounts" for multiple purchases tends to imply they are feeling some pain.

Of course £900K is only the asking price; the offer may have been way below that.

(I would say that HMO - House of Multiple Occupation - is the high yield end of BTL and possibly still profitable. It is also the high heartache end of the curve, expect to be visiting the property several times a week.)

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Contracted with Warwick University until July 2008 with an option for a further 3 years. Part of a 13 property portfolio. Discounts available for multiple purchases

so the Uni hasnt taken the option, the owner cant get anyone else to pay the over inflated rents that may just cover the mortgage, sh he has to sell.

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  • 396 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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