Put in an offer on a BTL today

[sasguru]

2-double bed Victorian conversion, good area, near tube. Needs some minor work. Offered £25K under already low asking, but am a cash buyer.
Est. rent after cosmetic work £1.2K pcm or more with 2 sharers.


Boomed!

[DimPrawn]

Good for you. I hope it works out for you.

[oracleslave]

2-double bed Victorian conversion, good area, near tube. Needs some minor work. Offered £25K under already low asking, but am a cash buyer.
Est. rent after cosmetic work £1.2K pcm or more with 2 sharers.


Boomed!

Which borough?

[sasguru]

Good for you. I hope it works out for you.

Better than in the bank, innit.
Am just getting the one in case of false recovery. On the otehr hand if real, I get something anyway.
Eventually looking to buy another two.

[Moscow Mule]

2-double bed Victorian conversion, good area, near tube. Needs some minor work. Offered £25K under already low asking, but am a cash buyer.
Est. rent after cosmetic work £1.2K pcm or more with 2 sharers.


Boomed!

What "good area"?

£25k under asking doesn't mean anything without knowing the full price

[sasguru]

Which borough?

Wandsworth

[DimPrawn]

You can get a 8 or 9% return on Zopa, if you are brave.

http://uk.zopa.com/ZopaWeb/public/le...g-at-zopa.html

There is a risk of some bad payers, but with BTL there is a risk of no capital appreciation for a decade combined with bad tenants and voids, hassle, legal disputes, maintenance and repairs and falling rents.

[sasguru]

You can get a 8 or 9% return on Zopa, if you are brave.

http://uk.zopa.com/ZopaWeb/public/le...g-at-zopa.html

There is a risk of some bad payers, but with BTL there is a risk of no capital appreciation for a decade combined with bad tenants and voids, hassle, legal disputes, maintenance and repairs and falling rents.

Fortune favours the brave.
That's why you're not a real millionaire.

[DimPrawn]

Fortune favours the brave.
That's why you're not a real millionaire.

Not quite, but very nearly.

[sasguru]

Not quite, but very nearly.

Yes if you work hard you can get the other 990,000, I'm sure.