Real Estate nightmares

[Vaud]

Harry Flashman said:

They don't. I work in The City, and no-one here under 30 owns a property in London, many under 25 live with parents, and most others flat share. We aren't bankers, but pay here is not bad, by any means.

It's reminiscent of what happened in Manhattan a 20 years ago, and Brooklyn more recently. No-one of normal income actually lives there any more.

I'm in NY at the moment and even well paid consultants are flat sharing (2 beds converted to 3 with a partition wall in the front room) or having a small studio for $3000 a month. It's San Francisco/Bay Area money!

[bga]

S11Steve said:

I used to work around the corner from there on Norwood Road, and unknowingly met a very high profile international terrorist...

Grim is an understatement.

It's a South London thing. I used to live 2 doors down from this lovely fella

https://amp.theguardian.com/uk/2005/jul/18/afghani...

[sealtt]

I'd have to put an overhanging roof on that garage conversion to make it look like a proper place and not a garage!! But anyway id think it's a nice little deal though not sure if it's a bit far out for most people to consider such a weird place to live.

[Harry Flashman]

bga said:

S11Steve said:

I used to work around the corner from there on Norwood Road, and unknowingly met a very high profile international terrorist...

Grim is an understatement.

It's a South London thing. I used to live 2 doors down from this lovely fella

https://amp.theguardian.com/uk/2005/jul/18/afghani...

It's a Britain thing - we are a favourite place for international murderers to hide.

My family home is in Wentworth, Surrey, where General Pinochet holed up when trying to avoid justice. And I wonder just how many international terrorists are holed up/have parked their money in Mayfair and Chelsea?

[FourWheelDrift]

Harry Flashman said:

It's a Britain thing - we are a favourite place for international murderers to hide.

My family home is in Wentworth, Surrey, where General Pinochet holed up when trying to avoid justice. And I wonder just how many international terrorists are holed up/have parked their money in Mayfair and Chelsea?

It's all done on a swap basis, we have sent all our crims to the Costa Del Sol.

[Mark Benson]

I think this link probably belongs in this thread:
http://terriblerealestateagentphotos.com/

[FourWheelDrift]

Mark Benson said:

I think this link probably belongs in this thread:
http://terriblerealestateagentphotos.com/

Um...... http://terriblerealestateagentphotos.com/post/8353...

[DonkeyApple]

Harry Flashman said:

Sycamore said:

Seeing the house prices on here for some properly gopping houses, mostly London way, makes me realise just how cheap property can be in the West Midlands.

How do young people even get onto the property ladder in these areas? I know wages are higher, and lots of lucky young people have help from family etc, but £300k for essentially a bathtub with a window is mental.

They don't. I work in The City, and no-one here under 30 owns a property in London, many under 25 live with parents, and most others flat share. We aren't bankers, but pay here is not bad, by any means.

It's reminiscent of what happened in Manhattan a 20 years ago, and Brooklyn more recently. No-one of normal income actually lives there any more.

Well I've finally capitulated. If all goes as planned today I will have sold up in Hampstead and be moving out of London.

It boiled down to either unrealistically finding an extra £3m to buy a property that I would consider a family home or cashing in and moving out full time to the Cotswolds instead of decamping each weekend.

If the second part of the plan works out then we'll have a house with three times the square footage and a garden several times bigger than our current one for half of what we are selling up for.

London prices have just reached the point that I personally could no longer see the value in contrast to what we could be living in elsewhere. It means the place we are looking to buy will technically be a free house as it'll just be bought with part of the ludicrous premium we've ended up with.

[NickGibbs]

Mark Benson said:

I think this link probably belongs in this thread:
http://terriblerealestateagentphotos.com/

this site is very funny. Some great captioning on some truly wft photos

[tokyo_mb]

Mark Benson said:

I think this link probably belongs in this thread:
http://terriblerealestateagentphotos.com/

This has to be a candidate for that site - http://www.mccartneys.co.uk/Property/Property_Deta...

Some examples:




Property itself not quite the nightmare that these might suggest.

[FourWheelDrift]

Location nightmare - http://www.rightmove.co.uk/property-for-sale/prope...

Doesn't show in any of the carefully crafted photos but look at the satellite map - https://www.google.co.uk/maps/place/Warren+Rd,+Mil...

Rear garden street view - https://www.google.co.uk/maps/@51.98113,-0.845716,...

[Doofus]

FourWheelDrift said:

Location nightmare - http://www.rightmove.co.uk/property-for-sale/prope...

Doesn't show in any of the carefully crafted photos but look at the satellite map - https://www.google.co.uk/maps/place/Warren+Rd,+Mil...

Rear garden street view - https://www.google.co.uk/maps/@51.98113,-0.845716,...

Doesn't seem to me to be any worse than any one of a billion modern 'executive' developments.

[Du1point8]

Whats wrong with this?

http://www.rightmove.co.uk/property-for-sale/prope...

650k to buy and generates an income in excess of 46k... Something smells fishy but I dont know what.

[Doofus]

Du1point8 said:

Whats wrong with this?

http://www.rightmove.co.uk/property-for-sale/prope...

650k to buy and generates an income in excess of 46k... Something smells fishy but I dont know what.

Well it's SSTC, so presumably there's nowt wrong with it.

[DonkeyApple]

Du1point8 said:

Whats wrong with this?

http://www.rightmove.co.uk/property-for-sale/prope...

650k to buy and generates an income in excess of 46k... Something smells fishy but I dont know what.

It does seem fine but you wouldn't expect a yield that high would you?

Around Colchester a 2 bed flat is approx £600/month and 3 is around £800. So the resi side might be generating about £20k of the £46.

The commercial side's 4 units would therefore be renting for about £500/month?

So the income figures look viable. Maybe a mixed use property like this takes more time to run than just flats. Maybe that stretch of river is at risk of flooding. Maybe the property has a lot of wood rot.

The price doesn't seem massively out of step with the gross potential yield of 6 different units.

[PositronicRay]

Tricky one to value.

http://www.rightmove.co.uk/property-for-sale/prope...

Originally 2 bed ex local authority, conservative midlands town, unextended in good order around £250k. Wondering how much was spent £100k?

[anonymous-user]

Glad I didn't have to value that, I think i'd have disappointed the vendor.

Looking at what else has sold in the street, it would be pricey for a two bed, but it looks very pricey for a 1 bed with a glorified conservatory in the garden. You'd have to really dislike your guests to make them sleep out there.

[M3333]

PositronicRay said:

Tricky one to value.

http://www.rightmove.co.uk/property-for-sale/prope...

Originally 2 bed ex local authority, conservative midlands town, unextended in good order around £250k. Wondering how much was spent £100k?

fking Hell

[carreauchompeur]

Wow. I mean, fair play for getting into the project but 1 bed?

[SystemParanoia]

M3333 said:

PositronicRay said:

Tricky one to value.

http://www.rightmove.co.uk/property-for-sale/prope...

Originally 2 bed ex local authority, conservative midlands town, unextended in good order around £250k. Wondering how much was spent £100k?

fking Hell

Thought i recognised the kitchen

https://www.youtube.com/watch?v=Ce5jhpsAe-4