Posts: 2029
Joined: 2004-04-11
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Please give me any of your tips. I want to put it away somewhere and then forget about it. Bonds? Anyone have any good experiences or banks to recommend?
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Posts: 4143
Joined: 2005-09-27
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pm Topper
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Posts: 9215
Joined: 2006-06-12
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pm funky
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Posts: 9143
Joined: 2005-11-14
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Give it me!
You're a northener so buy yourself a street of houses
Use it as a deposit on a house then take out a mortgage.
Let out the house using a housing agency.
The rental income you receive will then normally cover your mortgage repayments.
Sit back and forget about it for a good few years and watch your investment increase more so than buying bonds, MIP'S etc
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Posts: 12335
Joined: 2005-04-20
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Hookers and coke!
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Posts: 12188
Joined: 2003-11-27
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Pm Bubatunde
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Posts: 7297
Joined: 2004-05-05
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PM me
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Posts: 115
Joined: 2007-05-22
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marry me
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Posts: 9143
Joined: 2005-11-14
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Posts: 4254
Joined: 2004-01-07
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Yeah mate. Try and get a house in the uni areas. The ones in newc are a joke at how much people pay for rent.
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Posts: 8547
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Posts: 54263
Joined: 2003-07-10
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buy a 150k flat in the nearest town centre to you and rent it out thru a management company, then forget about it for 5 years.
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Posts: 7297
Joined: 2004-05-05
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Only 5 years?
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Posts: 8627
Joined: 2005-10-21
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haz wrote:
Yeah mate. Try and get a house in the uni areas. The ones in newc are a joke at how much people pay for rent.
Serious cash to be made in this area
if you can find the right property, managment and area you'll make a killing
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Posts: 54263
Joined: 2003-07-10
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well no, not really, much longer if you can, but by then he should be ready to buy his own gaff with his bird and have a family etc...so you cash in on your flat and use the big chunk you have made to put down on your 500k house etc.
ya git me?
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Posts: 7297
Joined: 2004-05-05
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You're right but alot of people run into problems with tenants etc and having to fork out more money for the property than they had bargained for. it's better than putting it in a high savings account as you won't make as much as on the property ladder, but I'm a bit skeptical at the minute with all the talk of a property crash in 2008. If I had 15k to invest I'd buy some land in the UK where there is likely to be housing built on within the next 10 years
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Posts: 54263
Joined: 2003-07-10
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if you buy in a town centre near a big station and near a big college, you very rarely have any problems greybot mate...you leave it all in the hands of the management company, they make sure you never get knocked, and demand is always high, so you are never without someone in there for at least 2 years at a time... and if its a new build place, which nearly all flats in city centres are nowadays, you never get a problem with the property that is not covered by the developers garuntees, so there is no costs there either.
sit back, light up a cigar and go and get your wedge whenever your ready.
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Posts: 7300
Joined: 2006-09-12
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The old house we had was a 10 minute walk to town, a 5 minute walk to Three Bridges station, 5 minute walk to the pub, 2 minutes to a corner shop/blockbuster, etc.
It was a big old place, but it was falling apart.
When we had it valued the bloke said if we were trying to sell to people we'd have to aim for £145,000 because they'd have to do it up so much.
But we lived next to an old printing press that got shut down and went up for sale, and a developer called us wanting to buy the two together because the press wasn't big enough to put flats on by itself, so we sold to the developers for just under double what we'd of got selling to people, which funded a new house, a new bathroom and some luxuries.
There's now 6, 2 bed, £125,000 flats where my house used to be, and they're selling/being rented out sharpish by the commuters.
Selling to developers is the future.
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Posts: 7297
Joined: 2004-05-05
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Is a management company the same as an estate agent? Just I've heard some nightmare stories about people letting out through an agency as they don't insure against sitting tenants and damage. Didn't know about the developers guarantee on new build. Sounds good!
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Posts: 54263
Joined: 2003-07-10
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Selling to developers is the future.
and a stroke of major major luck mate. that doesnt happen very often believe me. you had a right touch.
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Posted: Wed, 29/08/2007 - 9:13am
