Log Cabin

[EternalOptimist]

Have been offered a log cabin for sale by an aquaintance. It's in the North of Scotland, quarter of an acre garden, fishing and boating rights. Sleeps 6, full utilities.
£70k
as a holiday let, rakes in £350 - £500 pw
we might possibly retire there

what do you reckon ?

 

[sasguru]

Perfect self-contained depression hideway. Buy it for cash. Then buy a gun and ammo for self defence from the marauding hordes over the next 10 years.

Sorted.

 

[Drewster]

Have been offered a log cabin for sale by an aquaintance. It's in the North of Scotland, quarter of an acre garden, fishing and boating rights. Sleeps 6, full utilities.
£70k
as a holiday let, rakes in £350 - £500 pw
we might possibly retire there

what do you reckon ?

A bit chilly but generally nice...... go for it?

 

[expat]

Have been offered a log cabin for sale by an aquaintance. It's in the North of Scotland, quarter of an acre garden, fishing and boating rights. Sleeps 6, full utilities.
£70k
as a holiday let, rakes in £350 - £500 pw
we might possibly retire there

what do you reckon ?

Possibly good but DYOR (OK I know that's what you're doing).

1. can you (or a potential later buyer) live in it, or is it holiday only?
2. Is it stand-alone or part of a holiday camp? QQ both physically and legally.
3. Would you buy it only for letting? I mean, ATM would you depend on letting it? If on credit, obviously work out cashflow.
4. Note that if it's a letting business you'd pay business rates, if you let it over 20 weeks/year. AIUI these are based on potential annual income.

If it were me and I had 70k I'd probably take it. Where is it?

 

[s2budd]

Not this one by any chance?
http://www.dmhbl.co.uk/index.php?m=property_detail&id=84

This is mid-Scotland - Lower highlands and a tourist trap.
Good location for renting to tourists.

 

[EternalOptimist]

Possibly good but DYOR (OK I know that's what you're doing).

1. can you (or a potential later buyer) live in it, or is it holiday only?
2. Is it stand-alone or part of a holiday camp? QQ both physically and legally.
3. Would you buy it only for letting? I mean, ATM would you depend on letting it? If on credit, obviously work out cashflow.
4. Note that if it's a letting business you'd pay business rates, if you let it over 20 weeks/year. AIUI these are based on potential annual income.

If it were me and I had 70k I'd probably take it. Where is it?

thanks expat, the way we are thinking is this. We have the cash spare, getting fck-all squared in interest, we could holiday there and maybe let it out a bit, then if the novelty doesn't wera off, retire there.
If the novelty does wear off, flog it for a profit. The other cabins are in the process of being flogged off, 400m apart - so it's not exactly a camp.
2 miles from the nearest road, golden eagles, do you wanna go halves on it ?

 

[minestrone]

Just factor in how far you have to go to get to the Post Office/Bank etc, I grew up on a Scottish Island where the bank would come round in a van once a week.

 

[EternalOptimist]

Just factor in how far you have to go to get to the Post Office/Bank etc, I grew up on a Scottish Island where the bank would come round in a van once a week.

sounds bleak and remote
which island ?

 

[sasguru]

the bank would come round in a van once a week.

They've sold the van now. Credit Crunch, innit?

 

[expat]

Just factor in how far you have to go to get to the Post Office/Bank etc, I grew up on a Scottish Island where the bank would come round in a van once a week.

Yeah but you don't need money much because there's nothing to buy but even a vacuum cleaner costs £300 after you include shipping