Steevo
Member
- Location
- Gloucestershire
Are we really not building enough houses? They seem to be everywhere building and farmland is getting less and less.
Our economy is built on house building too.
Are we really not building enough houses? They seem to be everywhere building and farmland is getting less and less.
Already spent it at KembleHe'll be buying a few more farms then.
An acre per house...?
Already spent it at Kemble
Yes, a rumored £42m, he's been selling off houses as fast as he can, I guess to pay the bridging loan/interest off before the housing money comes in. He's even evicting a good farming friend of mine, 3rd gen tenant via a loophole in the agreement his grandfather signed. I have no time for him at all. Does make you wonder, when is enough ever enough. I think it an older generation thing as my father is exactly the same.Already spent it at Kemble
A friend bought a new build 18 months ago off plan. £275k for 4 bed, detached garage as a investment as he had the cash sat about. He gave it to an agent to let who let it within 2 days of marketing it. The gross rent is £1200/month and the agent gets 10% for complete management, in that my friends gets zero hassle. They only allowed a couple, no children in and they are on a 12 month tenancy.
He's just had it valued by 3 agents and they all said around £310k to sell straight away.
That's not as business really. He's looking to mortgage that house to get a deposit for another one and then run them as a little enterprise in their own right.
Before he let it he altered a door way and moved a radiator. I went in and had a look and like mentioned above the materials and build quality is pretty cheap. Breeze block wall with plaster board dabbed to it. But I have to say it's very efficient to run as I know the tenants gas/elec is not more than £150/quarter.