I think that's what they're looking to do, buy houses that need some work, her husband is a joiner/man of all trades, so he can fix it up (along with his brothers who all work in trades too)

( Agnostic Antichrist Baltimora, Tue 10 May 2011, 13:12, 2 replies, latest was 15 years ago)

So why on earth would they need your 50p at the end of the month?
SOUNDS FISHY
( Light In Chains maker of the ikea sofa, Tue 10 May 2011, 13:17, Reply)

Shh, if he's going to get screwed over I'm all for it
( Kitty v1.0 desperately naive, Tue 10 May 2011, 13:26, Reply)

Haha b3tan meanie
love it
( Light In Chains maker of the ikea sofa, Tue 10 May 2011, 13:27, Reply)

over
( rachelswipe with a fork, Tue 10 May 2011, 13:51, Reply)

With the state of the mortgage market at the moment,
investing in property on a buy to let basis is a really, really bad idea. No bank is going to part with cash without at least a 10%-15% deposit, often more, and your rental income is going to be low because the market is saturated with people like you who invested just before the last property crash and are stuck with flats they can't rent.
(Bazongaloid, Tue 10 May 2011, 13:19, Reply)

You make worryingly good points here, hmm
Might reconsider it.
( Agnostic Antichrist Baltimora, Tue 10 May 2011, 13:21, Reply)

i worked in resi lettings in didsbury for 8 years, on and off
firstly, you have to get exactly the right property. ideally this is several one bed victorian flats in didsbury or west didsbury, as these fly off the books as soon as the tenants give notice. a 4 bed house in cheadle or wilmslow or macc is just going to stick.

secondly, you have to pay the right price for it. i was 18 when i bought mine as a buy-to-let, and i made £400 a month profit after the mortgage. if i bought it now, i'd be topping up the mortgage after getting the rent, because prices went through the roof.

the worst thing you can do is to buy one of the identikit 2 bed, 2 bath places that they whacked up all over manchester. you'd be competing with 137000 other landlords and it would sit empty 6 months of the year.
( rachelswipe with a fork, Tue 10 May 2011, 13:24, Reply)

Unless you're in Chorlton centre

( Light In Chains maker of the ikea sofa, Tue 10 May 2011, 13:26, Reply)

even the ones in didsbury - they do let but you end up taking a hit on it
mostly though it's that the quality of them is so piss-poor. if you're on the top floor and you sneeze at midnight, the tenant on the ground floor will be frightened he'll catch your cold.

whereas the conversions were built properly!
( rachelswipe with a fork, Tue 10 May 2011, 13:31, Reply)

Manchester rents aint really gone up in near enough ten years, but Chorlton flats always go real quick, fucking hippy wankers

( Light In Chains maker of the ikea sofa, Tue 10 May 2011, 13:33, Reply)

they haven't gone up since 1996 when i started
and they killed the city centre with all those silly new flats. my old boss does quite well on repo's.

chorlton is the next west didsbury, aye.
( rachelswipe with a fork, Tue 10 May 2011, 13:36, Reply)

Unlike East Didsbury
Or Burnage as most sane people know it to be
( Light In Chains maker of the ikea sofa, Tue 10 May 2011, 13:39, Reply)

it's amazing how far the didsbury borders stretch
longsight.... levenshulme.... ancoats....
( rachelswipe with a fork, Tue 10 May 2011, 13:43, Reply)

It's a large house in Liverpool, not in the best area, but certainly the best in the immediate area.
It's going to be a 7 bedroom house.
( Agnostic Antichrist Baltimora, Tue 10 May 2011, 13:31, Reply)

christ
i hope you enjoy going to court! i had 4,000 tenants for whom i did the arrears. 400 in liverpool. 3,600 in manchester. i was in court for the liverpool lot about 5 times more frequently.
( rachelswipe with a fork, Tue 10 May 2011, 13:33, Reply)

Haha, oh dear!

( Agnostic Antichrist Baltimora, Tue 10 May 2011, 13:37, Reply)

Waste of Money
I say go for it. You'll be like the next Monty.
(Bazongaloid, Tue 10 May 2011, 13:34, Reply)