Tuesday, November 18, 2008

who would be this stupid?

Lea Bank Close, Macclesfield SK11 £350,000

BUY TO LET INVESTMENT OPPORTUNITY- currenntly tenanted until 15th August 2009 @ £995pcm.

Posted by mark @ 12:24 PM (2281 views)
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9 thoughts on “who would be this stupid?

  • japanese uncle says:

    This house is likely to be priced at 120,000 in 2011. Nice house!

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  • 3.5% yield

    Anyone? anyone??

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  • Crutchley, that link in your comment (12:37) is truly unbelievable and should be posted in its own right!!

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  • little professor says:

    Great find mark!

    Assuming the traditional 125% rental cover to get a BTL mortgage, the value of this house is over £200,000 less than they are asking for it.

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  • Nopainonlypain says:

    Overvalued and seemingly a very desperate seller!

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  • Many BTL ‘investors’ really are not capable of working out that this ‘opportunity’ offers a 3.41% gross rental yield, and indeed couldn’t explain what a GRY is. They simply saw the chance of capital appreciation with no money down and decided, “I want some of that”. Anybody reading this web site knows that the sums don’t add up, but they haven’t added up for at least five years. This is why house prices are going to fall and fall until mortgage interest payments and rents are roughly in line again, just as they always used to be.

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  • This is what i am up against in macclesfield area price wise!! everything is over priced, except auctions. One local EA is running auctions once a month now and houses are selling for up to 50% less than asking prices, which in my opinion is still over priced. A long long way to fall in this neck of the woods.

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  • “Mr Pym confirmed he would step down from his job next summer, without any compensation, but having picked up a guaranteed cash bonus of £326,000 spread over two years”

    If that is not called compensation what is then ?

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