BTL in Manchester not exactly risk free

[tim123]

Cheap flat being auctioned by Alsops tomorrow, seems too cheap then you
see it was seized by serious organised crime agency,

So that's what "under the orders of XYZ police force" means.

I did think that some of the properties didn't exactly look like police stations :-(

tim

[PAH]

They beat Chelski and the Arse didn't they!

Only the kiddie teams.

Carling cup wasn't it? No one really cares about winning that piece of tulipe do they?

[AtW]

They beat Chelski and the Arse didn't they!

They did a very good job IMO. I also think their team primarily consists of English players, so it seems to be they should be taken on full time English and that will be their main assignment - if they win it then they get everything, and if they lose then they will have to walk home.

[lexington_spurs]

They most certainly did.

In this instance, you'd imagine the tenants were told not to let their children dig up the gardens ..

[Bagpuss]

Their football team is pretty good in my view - maybe they should replace completely official English players and their job would be just to train for the games all the time rather than play for the club. That would be my solution to winning the world cup again.

They beat Chelski and the Arse didn't they!

[AtW]

Last time I drove through that tuliphole, they were knocking large areas of it

Their football team is pretty good in my view - maybe they should replace completely official English players and their job would be just to train for the games all the time rather than play for the club. That would be my solution to winning the world cup again.

[PAH]

I did own some BTLs in Burnley in late 90s.

You're lucky you made any money.

Last time I drove through that tuliphole, they were knocking large areas of it down. Plenty of mugs down south had bought BTLs there, without even viewing the area, expecting to make some easy money, only for them to be compulsory purchased because they were in the areas infested with lazy druggie whitetrash scum. That was the posh end of town.

[BrilloPad]

I did own some BTLs in Burnley in late 90s. Nominally the returns were spectacular : in practice very low. Same story in Manchester : you need to be sure you can get tenants.

I wish I had waited to 2006 to sell : I would have doubled money. But I didn't know sasguru then......

[NickFitz]

In a separate investigation, 'Slab' Murphy, 58, faces nine charges of tax evasion for failing to furnish a return of his income, profits or gains over eight years from 1996.

IR35 then? Should've opted in

[AtW]

Don't imagine it would be easy to convice the tenants to pay me rather than him

You need to get your old avatar back with a nice Xmas hat.

[Bagpuss]

Cheap flat being auctioned by Alsops tomorrow, seems too cheap then you
see it was seized by serious organised crime agency, a little background digging reveals most flats in this block were acquired through Craven Properties

http://www.auction.co.uk/residential...000401&S=C&O=A

Then I find this...

http://www.manchestereveningnews.co....roperty_seized

THE alleged former leader of the Provisional IRA has agreed to hand over nine houses in Greater Manchester to Irish and British revenue officers.

The houses are part of nearly £1m of criminal assets being passed over by leading Irish Republican Thomas 'Slab' Murphy and his brothers Frank and Patrick.

The properties, worth £445,000, are mainly in Trafford and Stretford. It is understood they were sourced through a Sale-based firm, The Craven Group, owned by millionaire tycoon Dermot Craven.

There is no suggestion that Mr Craven, from Bowden, dealt personally with the properties or knew 'Slab' Murphy's political background.

Mr Craven - who has previously admitted knowing Frank Murphy - said when details of the case first emerged in 2005: "If it is the case that clients have purchased property through us, through the use of money that is derived from criminal activity, then we know nothing of this."

`Slab' Murphy, his brothers and the Ace Oils fuel company were targeted by police investigating a massive smuggling racket operating on both sides of the Irish border.

More than £487,000 in cash and cheques were confiscated in Ireland, while the nine properties were recovered by British authorities.

A spokesman for the Irish police said the settlement was the culmination of a global crime and fraud investigation into the proceeds of crime.

He said: "These proceedings are the culmination of intensive investigations by the Criminal Assets Bureau (of Ireland) and the UK's Serious and Organised Crime Agency. Both agencies have cooperated extensively, working in partnership to achieve today's outcome."

The Irish leg of the investigation was settled in Dublin's High Court yesterday, while the UK's seizure was finalised in a Manchester court on Thursday.

The three men have been under investigation since March 2006 when `Slab' Murphy's sprawling farm in Hackballscross, straddling the Irish border between Louth and Armagh, was raided. It was one of 15 residential and business properties searched. More than £140,000 in mixed currencies, 30,000 cigarettes and 8,000 litres of fuel were seized while 30 archive boxes of documents, three tankers and a truck with a fourth tanker concealed inside were impounded.

An oil laundering unit was also seized.

In a separate investigation, 'Slab' Murphy, 58, faces nine charges of tax evasion for failing to furnish a return of his income, profits or gains over eight years from 1996.

He is expected to try to block the trial in the High Court next month.





Don't imagine it would be easy to convice the tenants to pay me rather than him