Potentially my second doer upper

[DSLiverpool]

http://www.zoopla.co.uk/for-sale/details/33401390#...

Well the first one took a year but made just under £30k

This one looks ripe but has been for sale for ages, not seen it yet but will do ASAP - needs a fair bit if work but has great potential

[DSLiverpool]

I think street ceiling is £85k for 3 bed, this has 4 doubles - maybe a good renter.
My issue is I don't trust builders, as I know so little I have to trust them and I just don't like the scenario - I watch homes under the hammer and they spend say £15k and I'm astounded - last one cost circa £25k no rewire or replumb

[DSLiverpool]

jonah35 said:

Did you make £30k after solicitors costs, estate agent fees, council tax, insurance, energy bills etc?

Yes net profit - to be honest £27 and a bit but that's before my personal tax

[DSLiverpool]

At £70k it doesn't stack up , I know you southern guys would pay £250+ and more but it won't go for more than £90k absolute tops, I guesstimate in needs £20k at least so it's only use is as a renter - I am getting a who me house rent and a 4 way split rent estimate next week. Also I would bid £63 ish

[DSLiverpool]

economicpygmy said:

Was there much inflation in that area?

Not really it was just a cheap semi at £80k - street ceiling was approaching £150k but this was too near the junction for top $

[DSLiverpool]

Lol I live in Prenton Paul it's the best I can do
Yep high 50s and maybe 4 studios rather than one - not sure will do some thinking over Xmas
A relative owns a letting agency round the corner so I can get a realistic view

[DSLiverpool]

I decided against houses and we are concentrating on shops with flats above this year.
I think jockman bought my mates old house by sainsburys - not sure. I'm in Burrell road and were really happy here after living in west Kirby for years.

[DSLiverpool]

moustachebandit said:

DSLiverpool said:

I decided against houses and we are concentrating on shops with flats above this year.
I think jockman bought my mates old house by sainsburys - not sure. I'm in Burrell road and were really happy here after living in west Kirby for years.

Aren't there big issues these days with getting mortgages on properties above commercial units? Not necessarily thinking about you buying but for further selling on.

Wont be selling on separately so not concerned - got first shop / flat in site and will try and trade from the shop - crisp butty café ?