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J da Silva	posted on 8th Aug 08 at 10:03
	quote: Originally posted by deano87 quote: Originally posted by J da Silva 2. When you buy to rent, try and aquire a property that accomodates allsorts of people, don't go buying a massive 5 bedroom property as your only aiming at a big family and who'd rent a big place anyway? I don't understand this one. There is places around our way where rent is like £1200. If you can afford to pay rent at that rate, why not get a mortgage and actually have an investment. Dad says it's people here on business, with companies paying the rent etc. He's probably right, but still :lol: Right say if you have a 5 bedroom house, you want to rent it out, who are you aiming at? plus the amount you'd be paying out would make people want to buy it off you rather than rent it. If you have a 2/3 bedroomed house, your aiming at a single mum with kids, students, a young family who can't get a mortgage, a divorcee who's just wanting something till they find their feet, a group of friends who want to live together and 'live it up'. It's more profitable doing the latter if you plan to maket a long term investment, but rather than have 1 property you'd be better of having as many as you can get providing you have the financial muscle to cope, because in simple terms, your paying 'anything' providing your tennants are paying up, if not.... well that's a seperate issue altogether and I've not got a tin opener for them Heinz Worms. :lol:
Cosmo	posted on 8th Aug 08 at 09:50
	quote: Originally posted by deano87 I don't understand this one. There is places around our way where rent is like £1200. If you can afford to pay rent at that rate, why not get a mortgage and actually have an investment. Dad says it's people here on business, with companies paying the rent etc. He's probably right, but still :lol: Loads of reasons - some people have the monthly income but not the deposit required to get a mortgage. Some people have bad credit history and cant get the mortgage but a good income now. Some people dont want to buy why the market is how it is. Some people arent staying in the area for all that long so dont buy, etc. etc. etc.
deano87	posted on 8th Aug 08 at 09:46
	quote: Originally posted by J da Silva 2. When you buy to rent, try and aquire a property that accomodates allsorts of people, don't go buying a massive 5 bedroom property as your only aiming at a big family and who'd rent a big place anyway? I don't understand this one. There is places around our way where rent is like £1200. If you can afford to pay rent at that rate, why not get a mortgage and actually have an investment. Dad says it's people here on business, with companies paying the rent etc. He's probably right, but still :lol:
J da Silva	posted on 8th Aug 08 at 09:07
	If there's an investment opportunity and your guarenteed profit or atleast you know that your tennant will be paying the mortgage then go for it, if you wait around, opportunities exit. I've been buying and renting out houses for the last 4 years and so many people need to rent at this time it's untrue. Two important things you should remember.... 1. Buy to rent is a better option when house prices are high, your tennant pays the mortgage and when you want to sell you make whatever the house is worth, all that cash in your pocket, then invest half the amount into a new project, and it escalates. 2. When you buy to rent, try and aquire a property that accomodates allsorts of people, don't go buying a massive 5 bedroom property as your only aiming at a big family and who'd rent a big place anyway?
Cosmo	posted on 7th Aug 08 at 00:04
	Im doubting it will continue to fall for another 18months but it probably will do for the rest of this year. You have to remember though that buying to rent is not just about the short term. If he is looking for a 5-10yr investment then buying now is better than doing so in the previous 2 or 3yrs. Both because the house prices will be cheaper, and because the number of people who cant get mortgages has massively risen in the last 6 months. If he can get the mortgage, and can take the risk of having to fill it with a tennant for 90% of the time then it wont be a bad buy in the long run.
luke85	posted on 6th Aug 08 at 20:25
	Since febuary this year house prices have fallen by an average of 2% per month, and its only going to get faster Halifax House price stats
luke85	posted on 6th Aug 08 at 20:23
	Have you been looking at the figures for house prices recently? by December house prices will have fallen by 15% on the same time last year and the crash is going to carry on for at least another 18 months IMO. Buying a house now is a very silly thing to do unless you get it for (at least) 30% less that it was worth last time this year
deano87	posted on 5th Aug 08 at 18:12
	The woman that is in my dad's business house isn't a student, and that is wrecked.
BlueCorsa	posted on 2nd Aug 08 at 18:37
	If it's a repo and ex-council then it's probably already a shithole, so students or benefit scum won't make too much of a difference to it.
Andrew	posted on 2nd Aug 08 at 07:25
	quote: Originally posted by pow The house WILL end up a shitehole. Students is a big no no :lol: I know what we were like when students.. You cannot judge everyone on benefits to be fair. There are genuine cases and some sound people. I've been looking at terist houses as there are a few going cheap near me. I'm not to impressed with parking on a street though so could buy one to let off.
pow	posted on 1st Aug 08 at 23:16
	The house WILL end up a shitehole.
DYL	posted on 1st Aug 08 at 10:33
	the deposit is the only problem, they want 15% deposit, Working for the council for the housing dept is ideal :). I'm looking for the best deal atm......im thinking of "letting" it for "dolies". That way i will get the rent money with no problem, or the other option is Students......which is a risk
deano87	posted on 1st Aug 08 at 10:22
	Good idea. Investment for the future. If the housing market is shit, you have free digs essentially, and if it's good, you can sell up and have lots of equity.
DYL	posted on 1st Aug 08 at 09:59
	Im thinking of buying a "repossesd" house. It's an ex council house, to Let. Theres just over £40k left on the mortgage. The plan is, to buy the property and put it for Let. could easily get £400 per month on the property. Which will pay for the mortgage off easily. Good or bad idea.... How hard is it to get a mortgage etc? :boggle::thumbs: