My buy to let business the beginning

[superlightr]

CivicDuties said:

GT03ROB said:

BoRED S2upid said:

Puzzles said:

CivicDuties said:

Any of the current landlords on here think that 9% yield is realistic from this?

https://www.rightmove.co.uk/properties/142776755

Does the rent include all bills?

I doubt it very much at £200 per week per room.


Looks a very nice property for a HMO certainly not a student let or posh students.

There were some rather posh students when I was there! The estate management & agriculture lot contained some very rich but dim types!

Private student lettings have got much bigger competition these days, thanks to all the brand new high-rise accommodation palaces which have been built recently at many Universities. There are quite a few around Reading. My son is in one in Leicester. So private stuff has to be much higher spec nowadays as students have much more choice, and often much more indulging parents...

Long time since the damp and mushroom infested slums I used to live in as a student.

damp and mushroom infested slum - you dont know you were born! in my day that would have been a blooming luxury I tell you....

[CivicDuties]

superlightr said:

damp and mushroom infested slum - you dont know you were born! in my day that would have been a blooming luxury I tell you....

Aye, 'appen yer reet. Lestways we 'ad summat t'eat.

[ooid]

LooneyTunes said:

EPC C as a minimum for residential lettings was never a thing in England. It was speculated/trailed as a possible change but shelved ages ago.

Rules could be different for HMO, but I don’t see any threat of min C being imposed on general residential lettings any time soon.

Planning/Political risk is there but I would more worry about the condition. EPC D can easily become even E later on, besides it might add further Capex costs. It might not as well, just needs a decent survey and due diligence really.

[Quattromaster]

Attended my first eviction today, on behalf of my brother who had the misfortune of one of his flats being occupied by the local crack we.

Certainly an experience I’m not looking to repeat anytime soon.

Few properties myself and thankfully seem to have avoided this over the years.

[Portia5]

Caddyshack said:

Portia5 said:

BoRED S2upid said:

https://www.rightmove.co.uk/properties/134856062?u...


11% yeild! Absolute hovel but that’s not your problem until they move out which would cost them a small fortune to move all that stuff!!!

Edited by BoRED S2upid on Tuesday 9th January 19:35

Ha so!!

I see your 11% and I raise you 25%

https://www.rightmove.co.uk/properties/143449007#/...

Looks like it may be pre-formed concrete? Not sure about that area but down south they can be near impossible to mortgage due to defective structures but I guess at those prices a cash purchase is doable.

In Scotland a Home Report is an obligatory requirement for any property being openly marketed (including at auction). HRs include a section on mortgageability which clearly states if a property may be unsuitable to lenders because of non-standard construction (or for any other reason).

This one's fine. In fact the last one I bought on the estate (identical, in the next block along) was a lender's repo.

[LooneyTunes]

ooid said:

LooneyTunes said:

EPC C as a minimum for residential lettings was never a thing in England. It was speculated/trailed as a possible change but shelved ages ago.

Rules could be different for HMO, but I don’t see any threat of min C being imposed on general residential lettings any time soon.

Planning/Political risk is there but I would more worry about the condition. EPC D can easily become even E later on, besides it might add further Capex costs. It might not as well, just needs a decent survey and due diligence really.

That’s not a view I’d share. There has already been a major row back of position, an upgrade/exemption regime is in place and, more importantly, there would be a significant knock effect to imposing a higher standard. I still generally won’t buy below a D.