Tropical
Member
- Location
- Carmarthenshire
Buy
1 forest land
2 paddocks
3 building plot
maybe more livestock what do you think
1 forest land
2 paddocks
3 building plot
maybe more livestock what do you think
seen a few at 70,000 i think carmarthenshirewhere are the building plots for sale at 50k
but you can also pick up wood land for about 50000 25 acres approxBuy
1 forest land
2 paddocks
3 building plot
maybe more livestock what do you think
that's 40% over budgetseen a few at 70,000 i think carmarthenshire
if onlyHouses?
Buy 5 houses worth £60k, each with a £10K deposit.
Mortgage will come in around £200/month, and rental income around £500/month - £1500/month income minus costs.
After 25 years you have a good whack of assets too.
If only it was that simple, of course.
Houses?
Buy 5 houses worth £60k, each with a £10K deposit.
Mortgage will come in around £200/month, and rental income around £500/month - £1500/month income minus costs.
After 25 years you have a good whack of assets too.
If only it was that simple, of course.
What area of the uk can that be done in ?
A mortgage on a starter home (£150k around here) would cost more than the rental income right now, then you have R&M and tenants that don't pay to consider
House prices are flat and I wouldn't be at all surprised to see falls in the future as they have long been out of line with income
Here's one within 15 miles of Lichfield - http://www.rightmove.co.uk/property-for-sale/property-62127188.html
Lots of cheap terraced houses in towns, but of course the problems you have mentioned are greatly increased towards the lower end of the market.
I doubt bottom end house prices will fall, there's always going to be a demand for BTL and cheap first houses.
Burton is a VERY long way away from Lichfield in property price terms
Would not rent for much at all and not to the kind of tenants you would expect to pay consistently either in my experience
Owning residential property is not a great investment these days, the return is nothing to get excited about
What would a repayment mortgage on 60k cost ? I would be suprised if it was less than rent in that area
Plenty in Crewe for that price, shame it's a while off being gentrifiedIt doesn't have to be right on your doorstep... You asked where it can be done, I just used that as an example to show you...
Looking at local prices it would let for £450/month and the mortgage (50k, remember your deposit) would come in at about £200/month.
I've already said this would be a "perfect world" scenario.
What area of the uk can that be done in ?
A mortgage on a starter home (£150k around here) would cost more than the rental income right now, then you have R&M and tenants that don't pay to consider
House prices are flat and I wouldn't be at all surprised to see falls in the future as they have long been out of line with income
That's the guide price, not the asking pricehttp://www.walesonline.co.uk/lifestyle/welsh-homes/9-cheapest-houses-market-wales-10832565
Here we are Clive - 5 for £150k!
Plenty in Crewe for that price, shame it's a while off being gentrified