What Would You Buy ??

[gnasher16 30,592]

Gnash. ' best not invest in that Banksy vintage 2011

 

Past its sell by date so im told

[jacknife 2,005]

Suppose it depends how good looking the Romanian bird is and how many punters she brings in lol.

 

Jokes aside surely you'd need more than 20k for property? Would have thought least 3/4 times that amount.

 

 

You can pick up properties in Washington for as little as £18000 the most you would get in rent about £225 per month

 

Thats if you could get someone to live in the shit tip

Edited December 3, 2014 by jacknife

[unlacedgecko 1,467]

 

 

Suppose it depends how good looking the Romanian bird is and how many punters she brings in lol.

 

Jokes aside surely you'd need more than 20k for property? Would have thought least 3/4 times that amount.

 

You can pick up properties in Washington for as little as £18000 the most you would get in rent about £225 per month

 

Thats if you could get someone to live in the shit tip

Lick of paint and a new carpet/laminate flooring throughout and you could get £75 per week (single occupancy housing benefit). That's £3900 per annum, a return of nearly 20%. Obviously there would be expenses like gas safety certificate, insurance, tax and agents fees I've calculated that you would make £1500 profit per annum per property. Assuming the purchase prices remains at £20k per house it would be possible to buy 1 per year by saving £400 per week.

 

As more properties are acquired the time between purchases can be reduced as the rental money is re-invested.

 

Assuming a person requires an annual income of £40k to live comfortably without working, then 27 houses would be required. This would mean a total investment of £540k. The value of the investment would increase over time as house prices naturally increase. If all properties were acquired in the same street, then minor improvements to them would uplift the street, increasing the value if all houses in the street, dramatically increasing the portfolio's worth.

[dare 1,103]

Didn't watch the whole series but will do over Christmas. Was a show called the shield, dunno if you seen it? Just you mentioning buying the street n increasing value reminded me what they done on the show. The police would let crime go on in an area to drive house prices down. Then they'd buy and come down hard on crime and clean it up lol.

[unlacedgecko 1,467]

Didn't watch the whole series but will do over Christmas. Was a show called the shield, dunno if you seen it? Just you mentioning buying the street n increasing value reminded me what they done on the show. The police would let crime go on in an area to drive house prices down. Then they'd buy and come down hard on crime and clean it up lol.

No, didn't see it. Buying large groups together is common practice amongst developers. I remember a few years back there was a council sold a street of ex local authority houses for something silly like a fiver...

 

Can't fund that article, but there is this one http://www.dailymail.co.uk/news/article-2184334/Empty-houses-sale-1-Britains-cheapest-street.html

[gnasher16 30,592]

 

 

Suppose it depends how good looking the Romanian bird is and how many punters she brings in lol.

 

Jokes aside surely you'd need more than 20k for property? Would have thought least 3/4 times that amount.

 

You can pick up properties in Washington for as little as £18000 the most you would get in rent about £225 per month

 

Thats if you could get someone to live in the shit tip

Lick of paint and a new carpet/laminate flooring throughout and you could get £75 per week (single occupancy housing benefit). That's £3900 per annum, a return of nearly 20%. Obviously there would be expenses like gas safety certificate, insurance, tax and agents fees I've calculated that you would make £1500 profit per annum per property. Assuming the purchase prices remains at £20k per house it would be possible to buy 1 per year by saving £400 per week.

 

As more properties are acquired the time between purchases can be reduced as the rental money is re-invested.

 

Assuming a person requires an annual income of £40k to live comfortably without working, then 27 houses would be required. This would mean a total investment of £540k. The value of the investment would increase over time as house prices naturally increase. If all properties were acquired in the same street, then minor improvements to them would uplift the street, increasing the value if all houses in the street, dramatically increasing the portfolio's worth.

 

Simple as that !.............................whenever your dealing with human beings mate dont expect them figures to add up like they do on paper

[dare 1,103]

Deposit down on the place, those romanian birds you've invested in inside, housing benefit pays the mortgage and take a cut from their earnings as a drink. Sorted . Lol only joking of course.

 

I had a look on that right move though and couldn't see any places for 20k. Or you reckon you'd pick up a place for that at auctions? Just always think if it was that easy surely everyone would be doing it? I imagine other costs would be the fuckers destroying the flat. If they get their rent paid I'd say people don't look after things the same as if they've paid for it.

[unlacedgecko 1,467]

 

 

 

 

Suppose it depends how good looking the Romanian bird is and how many punters she brings in lol.

 

Jokes aside surely you'd need more than 20k for property? Would have thought least 3/4 times that amount.

 

You can pick up properties in Washington for as little as £18000 the most you would get in rent about £225 per month

 

Thats if you could get someone to live in the shit tip

Lick of paint and a new carpet/laminate flooring throughout and you could get £75 per week (single occupancy housing benefit). That's £3900 per annum, a return of nearly 20%. Obviously there would be expenses like gas safety certificate, insurance, tax and agents fees I've calculated that you would make £1500 profit per annum per property. Assuming the purchase prices remains at £20k per house it would be possible to buy 1 per year by saving £400 per week.

 

As more properties are acquired the time between purchases can be reduced as the rental money is re-invested.

 

Assuming a person requires an annual income of £40k to live comfortably without working, then 27 houses would be required. This would mean a total investment of £540k. The value of the investment would increase over time as house prices naturally increase. If all properties were acquired in the same street, then minor improvements to them would uplift the street, increasing the value if all houses in the street, dramatically increasing the portfolio's worth.

Simple as that !.............................whenever your dealing with human beings mate dont expect them figures to add up like they do on paper

I'm already in the process if executing the above plan, I know tenants are a f***ing nightmare!

[unlacedgecko 1,467]

Deposit down on the place, those romanian birds you've invested in inside, housing benefit pays the mortgage and take a cut from their earnings as a drink. Sorted . Lol only joking of course.

 

I had a look on that right move though and couldn't see any places for 20k. Or you reckon you'd pick up a place for that at auctions? Just always think if it was that easy surely everyone would be doing it? I imagine other costs would be the fuckers destroying the flat. If they get their rent paid I'd say people don't look after things the same as if they've paid for it.

http://www.rightmove.co.uk/property-for-sale/find.html?locationIdentifier=REGION^252&insId=1&sortType=1&maxPrice=50000&primaryDisplayPropertyType=houses&partBuyPartRent=false&googleAnalyticsChannel=buying

 

Dunno if that will work, its off my phone. Some auctions, some offered for normal sale...

[dare 1,103]

Cheers mate worked shocking aint it I mean people spend more on a car lol not rich people either just every day people. I'm guessing no work what so ever in the area?

[THE STIFFMEISTER 16,373]

 

 

I have a bit of a dabble in property myself......but the lads not going to get far on a bag of sand is he ......mind you got an old red London telephone box in my garage if you fancy it

 

Don't want to take 300 sovs for it by any chance do you mate ?

If it was down to me mate you could have it.....a pal of mine ended up with 3 of them for some reason i had a birdbrain idea that it would add a bit of character to the garden but it looked f****n ridiculous ......if the f****r dont hurry up and come and pick it up i,ll give you a shout......they,re getting collectible apparently ....some weight in the b*****d thing i know that much !!

I know where that is going, the ra will have that ablaze in a week

[gnasher16 30,592]

 

 

 

 

Suppose it depends how good looking the Romanian bird is and how many punters she brings in lol.

 

Jokes aside surely you'd need more than 20k for property? Would have thought least 3/4 times that amount.

 

You can pick up properties in Washington for as little as £18000 the most you would get in rent about £225 per month

 

Thats if you could get someone to live in the shit tip

Lick of paint and a new carpet/laminate flooring throughout and you could get £75 per week (single occupancy housing benefit). That's £3900 per annum, a return of nearly 20%. Obviously there would be expenses like gas safety certificate, insurance, tax and agents fees I've calculated that you would make £1500 profit per annum per property. Assuming the purchase prices remains at £20k per house it would be possible to buy 1 per year by saving £400 per week.

 

As more properties are acquired the time between purchases can be reduced as the rental money is re-invested.

 

Assuming a person requires an annual income of £40k to live comfortably without working, then 27 houses would be required. This would mean a total investment of £540k. The value of the investment would increase over time as house prices naturally increase. If all properties were acquired in the same street, then minor improvements to them would uplift the street, increasing the value if all houses in the street, dramatically increasing the portfolio's worth.

Simple as that !.............................whenever your dealing with human beings mate dont expect them figures to add up like they do on paper

I'm already in the process if executing the above plan, I know tenants are a f***ing nightmare!

 

Tried it but wasnt for me im too much of a greedy c**t best of luck to you though.

[Qbgrey 4,176]

Tennant's are s pain. One took the light bulbs when he left.another cut s secret drug stssh place in ceiling.another set fire to top floor destroyed the whole block.that and the Yukon river the fire brigade sprayed down on it.,over 200,000 refurb bill.not anymore. Sold the f....g lot.

[dare 1,103]

Does sort of make you see why so many people do crime though dont it :/ I mean say 100k for the 5 houses and you make profit 7500 a year. Not even a 10th of your outlay :/. I guess it's better when your buying bigger houses in posh areas and charging decent rent. Of course though that needs a bigger investment.

[unlacedgecko 1,467]

Does sort of make you see why so many people do crime though dont it :/ I mean say 100k for the 5 houses and you make profit 7500 a year. Not even a 10th of your outlay :/. I guess it's better when your buying bigger houses in posh areas and charging decent rent. Of course though that needs a bigger investment.

If you paid cash for them then that is true. But, get a mortgage on each house for 60%, then you only pay £40k tovbuy. There would be mortgage repayments, but the rent would cover them and then leave some profit. At the end of the mortgage, the properties could be let for pure profit or sold to cash in the investment. Renting properties like thus will not get you rich quickly, but that £7500 you quote above is for 0 (agents fees anf a maintenance budget is factored into the figures, as is tax) work. The actual rental income would be £3900 per house, so £19500 for your portfolio of 5.

 

To get rich fast, become a property developer. But this requires much more cash for the building work...