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Discussion in 'Rural Diversification' started by Tropical, Jan 4, 2017.
1 forest land
3 building plot
maybe more livestock what do you think
where are the building plots for sale at 50k
seen a few at 70,000 i think carmarthenshire
but you can also pick up wood land for about 50000 25 acres approx
4. Buy tractor and go contracting
that's 40% over budget
Gold wait patiently and buy just before the price shoots up, easy
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
It 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.
Plenty in Crewe for that price, shame it's a while off being gentrified
Here we are Clive - 5 for £150k!
What about classic cars? Or cars that will become classics. Could even use it on the weekend then. I don't know what to recommend. But I imagine it can be done with reasonable success. Aston martin, Bentley maybe.
That's the guide price, not the asking price
And they are nearly all in very undesirable area
I would buy either land and or some nice classic tractors
Why, not because they will be the absolute best return on capital but because I understand them and know what to buy or avoid, also they would give me a lot of enjoyment while appreciating
In my bank account and i will send you a restored tractor as a token of thanks ....
Seriously though some cars etc are making really good investments but do your homework or ask somebody in the classic trade as to their suggestions
The old healys are making £100k now adays so i would be worth a look imo
Also the old fords and audis have a good following but have to origanal no boy racer types
There seems to be more money in the car world wish tractor world was tha same
Land would be a good investment in a future up and coming area how long and you willing to wait for your return???
They aint making any more land either hahaha
Yet Nantwich prices are mental .