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May, 2017

Monday

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  1. #11
    Join Date
    Jun 2008
    Location
    oop north
    Posts
    7,667

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    Quote Originally Posted by Never what it seems View Post
    Perhaps the problem here is that a house worth £250.000 ( 250 - comma ) should bring in more than £7000 a year.
    If you are talking rental income, then that is the problem.
    Read the posts and understand the "exacerbated my illness" phrase.

    No mortgage, but problems with tenants, mold etc. New landlord, probably accidental landlord by design.
    This venture does not suit everyone.
    I don't buy property to gain an income. I get an income ( or did ) by running a real business with 2600 customers every 6 months, ( from my back bedroom ) and not ONE customer every 6 months via rental properties.

    I buy detached foreclosed property for $ 5000 to $ 12,000 in up and coming areas, spend $ 15,000 on renovation ( + roof if occasionally needed ). The rent pays off my investment within 5 years, then I sell for double, then move on to next one. ( let me know if you want any before refurbishment )
    I leave the hassle to good agents.
    Any problems can see the tenants given 30 days to leave. YES 30 days. + bailiffs of 20 days.
    I don't have the hassle here in U.K.
    I don't want the hassle here in the U.K. nor the overpriced houses ( by factor of 3 ) here in the U.K.

    Cavan does not want the hassle. I have assured him and hope he takes mine and Gordon999's advice.

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  3. #12
    Join Date
    Jul 2016
    Posts
    341

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    You don't say where the house is - but in parts of the country prices are falling and I can see the price of some types of property declining all over the country. Inflation is not the only factor as with inflation share returns or ordinary interest rates will eventually rise. however earnings may not and that affects house prices.

    I've been looking to buy for my child but am thinking of holding off for the next 2 years as the risk of price falls now seems to me higher than the chance of price increases.

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