General Discussion: I have 15k(ish) to invest - please advise me!


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Noble Locks
Noble Locks avatar

66963 posts since 10/7/03

29 Aug 2007 11:34
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.
San
San avatar

10493 posts since 14/11/05

29 Aug 2007 11:34
If you are going to buy land for your own development, make sure that it has planning permission beforehand or that it is going through.

If you can afford to lose £15k on a speculative deal with this then thats fine but do as noble has said, either buy a flat in town or a house in town.

In brum, the developers have made way too many flats and the demand hasnt been as anticipated so you can grab a bargain or two.

Or do as we do, buy in shitty areas, redevelop them then throw back on the market to make a profit on your investment and go again, building up a pot of money along the way.
t_dot
t_dot avatar

6087 posts since 1/8/05

29 Aug 2007 11:36
Jack wrote: 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.
when you say WE do you mean your MUM? Or are you married and own a house?
Jack
Jack avatar

7300 posts since 12/9/06

29 Aug 2007 11:38
I mean me and my Mum, we both moved, it was still my house.
smith
smith avatar

10802 posts since 5/5/04

29 Aug 2007 11:40
Jack wrote: I mean me and my Mum, we both moved, it was still my house.

Drinks on you then at the next fuk non meet up!
Jack
Jack avatar

7300 posts since 12/9/06

29 Aug 2007 11:41
That reminds me, the Barnwood hotel up the road was owned by one of my Nans friends who was an old lady who had managed to run it into the ground, but developers bought it and the land off her for ridiculous amounts of money and are now building flats on it.

Getting overruled by flats at my area at the moment.

Laughing out loud Now you're being picky wankers, I was only adding constructive input.
t_dot
t_dot avatar

6087 posts since 1/8/05

29 Aug 2007 11:44
Jack wrote: That reminds me, the Barnwood hotel up the road was owned by one of my Nans friends who was an old lady who had managed to run it into the ground, but developers bought it and the land off her for ridiculous amounts of money and are now building flats on it.

Getting overruled by flats at my area at the moment.
Developers really have got it in for you, theres no other development going on anywhere in the country at the moment, turning old buildings into flats, its fcking madness.
Noble Locks
Noble Locks avatar

66963 posts since 10/7/03

29 Aug 2007 11:45
Jack wrote: That reminds me, the Barnwood hotel up the road was owned by one of my Nans friends who was an old lady who had managed to run it into the ground, but developers bought it and the land off her for ridiculous amounts of money and are now building flats on it.

Getting overruled by flats at my area at the moment.
wonder how they are gonna fill them in this under-populated country…i reckon we should relax our immigration laws by a million country miles, and encourage more people to start a new life here.
Jack
Jack avatar

7300 posts since 12/9/06

29 Aug 2007 11:48
I don't really like it, before it was all houses and trees and greens etc. but now everywhere's becoming flats, a few years ago the only flats in Crawley were the estates and places above shops.

Anyway, on with the times etc.

Laughing out loud I'm staying out of this thread now, I feel victimized. Cry
Noble Locks
Noble Locks avatar

66963 posts since 10/7/03

29 Aug 2007 11:50
no-one likes it our kid…no-one fucking likes it. Cry
haz
haz avatar

4334 posts since 7/1/04

29 Aug 2007 11:57
So they are building all these flats (some get filled some dont). What happens in 10-15 years when the tenants of said flats are ready to move out of the city and into the suburbs to start a family?

Oh shit (raids savings)
Noble Locks
Noble Locks avatar

66963 posts since 10/7/03

29 Aug 2007 12:01
haz wrote: So they are building all these flats (some get filled some dont). What happens in 10-15 years when the tenants of said flats are ready to move out of the city and into the suburbs to start a family?

Oh shit (raids savings)
they will be another 10 million poles and slovakians ready to take there place and cary on the renting…its called evolution.
FrIEND
FrIEND avatar

13503 posts since 27/11/03

29 Aug 2007 12:03
they move to some eastern block country where its nice and empty else they'll be raising their kids in a tiny flat.

I jest of course, we'll all be living in super high sky rises in the future with dedicated leisure floors.
San
San avatar

10493 posts since 14/11/05

29 Aug 2007 12:04
haz wrote: So they are building all these flats (some get filled some dont). What happens in 10-15 years when the tenants of said flats are ready to move out of the city and into the suburbs to start a family?

Oh shit (raids savings)
You get the next batch of young proffesionals in who are required to work long hours therefore as they want to cut down travel time, will rent your said flat
docdoom
docdoom avatar

2036 posts since 11/4/04

29 Aug 2007 12:16
OK, thanks for the tips. I have nearly 10k from Grandparent's wills a while back so theoretically have 25k to do stuff with.

Is there definitely no bonds etc worth dealing with?

Re: housing I am soon to be relocated in the South, so obviously property is more expensive.
Noble Locks
Noble Locks avatar

66963 posts since 10/7/03

29 Aug 2007 12:19
you dont have to buy the flat in the south..like i said a management company (any estate agent) will deal with the lot for you. all you will need is a fonea nd fingers to press the answer button.
haz
haz avatar

4334 posts since 7/1/04

29 Aug 2007 17:01
What use is a phone


If you have no mouth?
The Topper
The Topper avatar

17 posts since 29/8/07

29 Aug 2007 18:19
i spent £15k on lunch today
t_dot
t_dot avatar

6087 posts since 1/8/05

29 Aug 2007 19:29
The Topper wrote: i spent £15k on lunch today
my first genuine fuk lol for a while.
Hello World
Hello World avatar

12106 posts since 7/3/05

29 Aug 2007 19:52
You can get 6% on 25k in a standard no touch for a year bond, should be tax free?? At least a grand in interest and its less than 3k capital gains allowance for the tax year.

Of course fill an ISA to max first,then some £250 per month internet savings accounts.

Depends on the salary income, with the right management you could make an extra months wages per year, pays for a holiday each year etc, if its a drop in the ocean then just leave in a normal access account for lower interest.