Plan B - Next project - BTL and?

[MarillionFan]

Visited site/house. Reviewed plans. Met the neighbours. Made offer. Seems a good opportunity and is a good buy to try my first 'development'. Though my plan will be to rent straight out and worry about the 2nd property later.

There are two other offers in as well.

Que sera sera.

[Clippy]

If it's cash, I know of one better, in fact if you have cash I may even know one to get you a short term 6-12 months very high return. All surveys etc done and waiting at solicitors.

Should have mentioned I bought a repo'd 3 bed flat for 44,000 and the council are paying 400 per month for it . There are much better deals for BTL's out there if you look for them focusing solely on yield.

Chaps, what locations are you referring to?

[d000hg]

If you are purely in it for the money, there ARE better returns BUT you'll probably be buying places you'd NEVER want to live. For instance where we used to live - north-east village, there are lots of 3-bed terrace/semis for £60k or less... rental rate about £400pcm. But you're relying on DSS tenants and it's a bit rough... well more poor than proper rough, but it seems rough to a middle-class private-school softie like me.

My folks (who own a nice big house in Cornwall) have just bought a 3/4 bed semi, with garage and decent garden around Merseyside for something like £70k.

So cheap places are around quite widely up north, on both coasts.

[geoff from contracta IOM]

Chaps, what locations are you referring to?

Mines in NI , check out Allsops auctions when repo'd houses don't sell with estate agents they go here.

[MarillionFan]

Mines in NI , check out Allsops auctions when repo'd houses don't sell with estate agents they go here.

I've seem some good results / yields with Allsops. Another property I looked at in Blackwater at 115k needing complete renovation went for 170k. Done up it was only worth 200k.

There is little cheap property near me. 180k for a one bedroomed flat. Rental yields are crap.

[Clippy]

Mines in NI , check out Allsops auctions when repo'd houses don't sell with estate agents they go here.

I've seem some good results / yields with Allsops. Another property I looked at in Blackwater at 115k needing complete renovation went for 170k. Done up it was only worth 200k.

There is little cheap property near me. 180k for a one bedroomed flat. Rental yields are crap.

Thanks Geoff. I'm on most of the auction houses mailing lists but same as MF, I'm based in the South East and auction properties are still selling well in these areas.

Buying further afield, as already mentioned in this thread, poses its own problems.

[MarillionFan]

142k sale agreed.

Is there an idiots guide to Property Development???

[TheFaQQer]

142k sale agreed.

Is there an idiots guide to Property Development???

http://www.amazon.co.uk/Property-Lad...0254248&sr=8-3

[d000hg]

I've seem some good results / yields with Allsops. Another property I looked at in Blackwater at 115k needing complete renovation went for 170k. Done up it was only worth 200k.

There is little cheap property near me. 180k for a one bedroomed flat. Rental yields are crap.

You can buy ours if you like. You'll get about 6.5% yield and it'll cost you only £75k - ready to let

[DimPrawn]

142k sale agreed.

Is there an idiots guide to Property Development???

Why do I have a feeling this is going to end very badly?