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Savings and Investments thread
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Rob7Lee said:i_b_b_o_r_g said:Anyone dabbled in property? Seriously thinking about buying a cheap place to do up and sell on, once I get back to the UK. Know research is key, but wondered if anyone had any genuine experience and advice. Cheers0
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...not looking at making millions, just for something to get straight into, until I find my feet with work, and if it works out, maybe do another one. I'll do majority of the work meself0
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If you don't have another property then it could work, stamp duty for 2nd homes eats into it a lot, fee's to buy and sell, not easy to make a return flipping, although doing all the work yourself will help.1
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Cheers mate0
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i_b_b_o_r_g said:Rob7Lee said:i_b_b_o_r_g said:Anyone dabbled in property? Seriously thinking about buying a cheap place to do up and sell on, once I get back to the UK. Know research is key, but wondered if anyone had any genuine experience and advice. Cheers
It's a area ripe for this. Lots of property needing attention that can be picked up for a song - and the market in general for decent houses it very strong. So you shouldn't have a problem flipping once renovated, or maybe better still renting to students (Staffs and Keele Universities).
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Will you need a mortgage or buying totally from cash ? Will you class it as your own residential property or a BTL ?0
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bobmunro said:i_b_b_o_r_g said:Rob7Lee said:i_b_b_o_r_g said:Anyone dabbled in property? Seriously thinking about buying a cheap place to do up and sell on, once I get back to the UK. Know research is key, but wondered if anyone had any genuine experience and advice. Cheers
It's a area ripe for this. Lots of property needing attention that can be picked up for a song - and the market in general for decent houses it very strong. So you shouldn't have a problem flipping once renovated, or maybe better still renting to students (Staffs and Keele Universities).
He did have the rental income over the years so he was up on the deal but not as much as he originally hoped.
Also don't ignore the geographical implications, although property in Stoke is cheap being London based meant that it made it difficult and more time consuming to deal with any problems that arose.1 -
it will be two or three years before markets get back to January levels0
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Fortune 82nd Minute said:golfaddick said:RaplhMilne said:RaplhMilne said:RaplhMilne said:Well taking a start point of about 3 weeks ago, my £170,000 stock/fund portfolio is now worth £154,000 so a 9.4% loss in days. I’m just glad I took my final salary pension as a pension. I couldn’t imagine sitting invested with drawdown and seeing near 10% wiped off my future in a few days.Will it come back, I expect some stocks will recover quickly. Others may take years. As a Former Lloyds employee, I am overweight in Lloyds which is helping drag me down.
Stockmarkets dont like uncertainty. Once we get the worst over & on the way down then things will be a lot better and companies/economy will know where we are.
As I said before, I have no way of knowing where the bottom of the market is, but once it gets so far it will come back up again. We've already seen a "floor" for the FTSE at around 6500 & now the Dow has fallen again today the FTSE will probably drop again tomorrow, but I doubt it will drop much past 6300 & would reckon the next "floor" is around 6000/6200.
But to answer @PragueAddick.......no, I wont bet on it...🙂0 -
So the floor was 6500. Tomorrow you expect the floor to be 6300 and the next floor could be 6000/6200.
Can you tell us in your bizarre language, your prediction figure for when the basement is reached ?0 - Sponsored links:
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golfaddick said:Will you need a mortgage or buying totally from cash ? Will you class it as your own residential property or a BTL ?
Buying cash and live in rental. Assume that, if this is the case, I'd avoid capital gains?0 -
fat man on a moped said:bobmunro said:i_b_b_o_r_g said:Rob7Lee said:i_b_b_o_r_g said:Anyone dabbled in property? Seriously thinking about buying a cheap place to do up and sell on, once I get back to the UK. Know research is key, but wondered if anyone had any genuine experience and advice. Cheers
It's a area ripe for this. Lots of property needing attention that can be picked up for a song - and the market in general for decent houses it very strong. So you shouldn't have a problem flipping once renovated, or maybe better still renting to students (Staffs and Keele Universities).
He did have the rental income over the years so he was up on the deal but not as much as he originally hoped.
Also don't ignore the geographical implications, although property in Stoke is cheap being London based meant that it made it difficult and more time consuming to deal with any problems that arose.
For example - I found a place in Stoke for £36k guide price, the place next door sold in 2017 for £96k. I know there's a lot more factors to think of, but that would be the kind of place I'd be looking at. If the overall out lay was £60k, and the whole thing took a year, from buying it to actually selling it, that would be the outcome we'd be happy with.0 -
i_b_b_o_r_g said:fat man on a moped said:bobmunro said:i_b_b_o_r_g said:Rob7Lee said:i_b_b_o_r_g said:Anyone dabbled in property? Seriously thinking about buying a cheap place to do up and sell on, once I get back to the UK. Know research is key, but wondered if anyone had any genuine experience and advice. Cheers
It's a area ripe for this. Lots of property needing attention that can be picked up for a song - and the market in general for decent houses it very strong. So you shouldn't have a problem flipping once renovated, or maybe better still renting to students (Staffs and Keele Universities).
He did have the rental income over the years so he was up on the deal but not as much as he originally hoped.
Also don't ignore the geographical implications, although property in Stoke is cheap being London based meant that it made it difficult and more time consuming to deal with any problems that arose.
For example - I found a place in Stoke for £36k guide price, the place next door sold in 2017 for £96k. I know there's a lot more factors to think of, but that would be the kind of place I'd be looking at. If the overall out lay was £60k, and the whole thing took a year, from buying it to actually selling it, that would be the outcome we'd be happy with.0 -
Covered End said:i_b_b_o_r_g said:fat man on a moped said:bobmunro said:i_b_b_o_r_g said:Rob7Lee said:i_b_b_o_r_g said:Anyone dabbled in property? Seriously thinking about buying a cheap place to do up and sell on, once I get back to the UK. Know research is key, but wondered if anyone had any genuine experience and advice. Cheers
It's a area ripe for this. Lots of property needing attention that can be picked up for a song - and the market in general for decent houses it very strong. So you shouldn't have a problem flipping once renovated, or maybe better still renting to students (Staffs and Keele Universities).
He did have the rental income over the years so he was up on the deal but not as much as he originally hoped.
Also don't ignore the geographical implications, although property in Stoke is cheap being London based meant that it made it difficult and more time consuming to deal with any problems that arose.
For example - I found a place in Stoke for £36k guide price, the place next door sold in 2017 for £96k. I know there's a lot more factors to think of, but that would be the kind of place I'd be looking at. If the overall out lay was £60k, and the whole thing took a year, from buying it to actually selling it, that would be the outcome we'd be happy with.3 -
Covered End said:i_b_b_o_r_g said:fat man on a moped said:bobmunro said:i_b_b_o_r_g said:Rob7Lee said:i_b_b_o_r_g said:Anyone dabbled in property? Seriously thinking about buying a cheap place to do up and sell on, once I get back to the UK. Know research is key, but wondered if anyone had any genuine experience and advice. Cheers
It's a area ripe for this. Lots of property needing attention that can be picked up for a song - and the market in general for decent houses it very strong. So you shouldn't have a problem flipping once renovated, or maybe better still renting to students (Staffs and Keele Universities).
He did have the rental income over the years so he was up on the deal but not as much as he originally hoped.
Also don't ignore the geographical implications, although property in Stoke is cheap being London based meant that it made it difficult and more time consuming to deal with any problems that arose.
For example - I found a place in Stoke for £36k guide price, the place next door sold in 2017 for £96k. I know there's a lot more factors to think of, but that would be the kind of place I'd be looking at. If the overall out lay was £60k, and the whole thing took a year, from buying it to actually selling it, that would be the outcome we'd be happy with.2 -
Covered End said:So the floor was 6500. Tomorrow you expect the floor to be 6300 and the next floor could be 6000/6200.
Can you tell us in your bizarre language, your prediction figure for when the basement is reached ?
All I was doing is giving the benefit of my 35 year experience of watching the markets. The FTSE isn't going to fall through the floor tomorrow & end up at 4000 points. The US brought in "circuit breakers" after the 1987 crash (no idea if they still have them) which was supposed to stop a complete meltdown. Once the FTSE gets to a certain point traders (and even some posters on here) will start to buy again.
Also, I didn't say the floor was 6500 as if it was a given. More that this week 6500 has been tested & has shown there is some resistance there. Seeing as the Dow Jones has has fallen more than 4% today I would imagine the FTSE will start lower tomorrow, but only as a knee jerk reaction. There is a level at which it will stabilise. I'm guessing 6300 for the short term. No idea about the next couple of months but stand by my assertion that in 6 months things will be better. FTSE above 6750 & more likely 7000.
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golfaddick said:Fortune 82nd Minute said:golfaddick said:RaplhMilne said:RaplhMilne said:RaplhMilne said:Well taking a start point of about 3 weeks ago, my £170,000 stock/fund portfolio is now worth £154,000 so a 9.4% loss in days. I’m just glad I took my final salary pension as a pension. I couldn’t imagine sitting invested with drawdown and seeing near 10% wiped off my future in a few days.Will it come back, I expect some stocks will recover quickly. Others may take years. As a Former Lloyds employee, I am overweight in Lloyds which is helping drag me down.
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golfaddick said:.0
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i_b_b_o_r_g said:fat man on a moped said:bobmunro said:i_b_b_o_r_g said:Rob7Lee said:i_b_b_o_r_g said:Anyone dabbled in property? Seriously thinking about buying a cheap place to do up and sell on, once I get back to the UK. Know research is key, but wondered if anyone had any genuine experience and advice. Cheers
It's a area ripe for this. Lots of property needing attention that can be picked up for a song - and the market in general for decent houses it very strong. So you shouldn't have a problem flipping once renovated, or maybe better still renting to students (Staffs and Keele Universities).
He did have the rental income over the years so he was up on the deal but not as much as he originally hoped.
Also don't ignore the geographical implications, although property in Stoke is cheap being London based meant that it made it difficult and more time consuming to deal with any problems that arose.
For example - I found a place in Stoke for £36k guide price, the place next door sold in 2017 for £96k. I know there's a lot more factors to think of, but that would be the kind of place I'd be looking at. If the overall out lay was £60k, and the whole thing took a year, from buying it to actually selling it, that would be the outcome we'd be happy with.
Stamp Duty will be more of a mute point and may be down to your solicitor's interpretation. I'd be concerned on taking a year to do up a place, you need to be in and out much quicker, what happens if the housing market crashes or starts dropping? A Years too long.
Student rentals although lucrative are hard work much like any HMO's and quite rightly regulations are getting tougher, but the returns can be good.
@bobmunro what's a 4 bed HMO suitable property for Keele/Staffs likely to cost?
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golfaddick said:Covered End said:So the floor was 6500. Tomorrow you expect the floor to be 6300 and the next floor could be 6000/6200.
Can you tell us in your bizarre language, your prediction figure for when the basement is reached ?
All I was doing is giving the benefit of my 35 year experience of watching the markets. The FTSE isn't going to fall through the floor tomorrow & end up at 4000 points. The US brought in "circuit breakers" after the 1987 crash (no idea if they still have them) which was supposed to stop a complete meltdown. Once the FTSE gets to a certain point traders (and even some posters on here) will start to buy again.
Also, I didn't say the floor was 6500 as if it was a given. More that this week 6500 has been tested & has shown there is some resistance there. Seeing as the Dow Jones has has fallen more than 4% today I would imagine the FTSE will start lower tomorrow, but only as a knee jerk reaction. There is a level at which it will stabilise. I'm guessing 6300 for the short term. No idea about the next couple of months but stand by my assertion that in 6 months things will be better. FTSE above 6750 & more likely 7000.
They are there to stop things like fat fingers triggering mis-pricing in markets that then bring the market into disrepute and have to be unwound. And they didn't help in the flash crash, but that's another story, which I'm saving for a book as Flash Boys only got half of it ... :-)
Still think 6250 is where we are heading in the near future, before any kind of recovery. And after that it could go down a lot further, if the data starts to support a genuine global recession.0 -
Rob7Lee said:i_b_b_o_r_g said:fat man on a moped said:bobmunro said:i_b_b_o_r_g said:Rob7Lee said:i_b_b_o_r_g said:Anyone dabbled in property? Seriously thinking about buying a cheap place to do up and sell on, once I get back to the UK. Know research is key, but wondered if anyone had any genuine experience and advice. Cheers
It's a area ripe for this. Lots of property needing attention that can be picked up for a song - and the market in general for decent houses it very strong. So you shouldn't have a problem flipping once renovated, or maybe better still renting to students (Staffs and Keele Universities).
He did have the rental income over the years so he was up on the deal but not as much as he originally hoped.
Also don't ignore the geographical implications, although property in Stoke is cheap being London based meant that it made it difficult and more time consuming to deal with any problems that arose.
For example - I found a place in Stoke for £36k guide price, the place next door sold in 2017 for £96k. I know there's a lot more factors to think of, but that would be the kind of place I'd be looking at. If the overall out lay was £60k, and the whole thing took a year, from buying it to actually selling it, that would be the outcome we'd be happy with.
Stamp Duty will be more of a mute point and may be down to your solicitor's interpretation. I'd be concerned on taking a year to do up a place, you need to be in and out much quicker, what happens if the housing market crashes or starts dropping? A Years too long.
Student rentals although lucrative are hard work much like any HMO's and quite rightly regulations are getting tougher, but the returns can be good.
@bobmunro what's a 4 bed HMO suitable property for Keele/Staffs likely to cost?Rob7Lee said:i_b_b_o_r_g said:fat man on a moped said:bobmunro said:i_b_b_o_r_g said:Rob7Lee said:i_b_b_o_r_g said:Anyone dabbled in property? Seriously thinking about buying a cheap place to do up and sell on, once I get back to the UK. Know research is key, but wondered if anyone had any genuine experience and advice. Cheers
It's a area ripe for this. Lots of property needing attention that can be picked up for a song - and the market in general for decent houses it very strong. So you shouldn't have a problem flipping once renovated, or maybe better still renting to students (Staffs and Keele Universities).
He did have the rental income over the years so he was up on the deal but not as much as he originally hoped.
Also don't ignore the geographical implications, although property in Stoke is cheap being London based meant that it made it difficult and more time consuming to deal with any problems that arose.
For example - I found a place in Stoke for £36k guide price, the place next door sold in 2017 for £96k. I know there's a lot more factors to think of, but that would be the kind of place I'd be looking at. If the overall out lay was £60k, and the whole thing took a year, from buying it to actually selling it, that would be the outcome we'd be happy with.
Stamp Duty will be more of a mute point and may be down to your solicitor's interpretation. I'd be concerned on taking a year to do up a place, you need to be in and out much quicker, what happens if the housing market crashes or starts dropping? A Years too long.
Student rentals although lucrative are hard work much like any HMO's and quite rightly regulations are getting tougher, but the returns can be good.
@bobmunro what's a 4 bed HMO suitable property for Keele/Staffs likely to cost?
My money would be a 1987 style crash, maybe 1974. If the former, you might have a short 1989 style property boom to follow. It would need the Chancellor's budget to loosen some of the recent property tax rises ... stamp duty??1 -
OK, @golfaddick, if you don't want a bet, that's OK. I understand if you are frit
However, everybody, how about we have a predictor game on the subject?
Close of play 31. July. What will be the level of the market index?
The thing I am not sure about is, which index? We are aware that FTSE 100 isn't quite what people assume it is. We could have more than one index for the competition though...
Any takers?
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S&P & DJI for me - no Brexit negotiation GBP interference.
Reckon they will bottom about 2,300/22,000 - i.e. unwind the Trump surge and be on their way back by then - 2880/26,000
20 quid in a whip and to be shared over a few beers while we mull over the pre-season marquee signings in August ....1 -
Take your point about UK indices, @WishIdStayedinthePub, but isn't the Dow also vulnerable to very specific Trump pump-priming "policies" so close to the election? I was thinking maybe the FTSE All- World index would be a better one for this purpose?
Anyone else feel like giving this a go?0 -
PragueAddick said:Take your point about UK indices, @WishIdStayedinthePub, but isn't the Dow also vulnerable to very specific Trump pump-priming "policies" so close to the election? I was thinking maybe the FTSE All- World index would be a better one for this purpose?
Anyone else feel like giving this a go?0 -
I'd say the FTSE100 could drop to about 6250/300 over the next few weeks, but by end of July it'll be back up to low 7000's, maybe 7150.0
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Rob7Lee said:i_b_b_o_r_g said:fat man on a moped said:bobmunro said:i_b_b_o_r_g said:Rob7Lee said:i_b_b_o_r_g said:Anyone dabbled in property? Seriously thinking about buying a cheap place to do up and sell on, once I get back to the UK. Know research is key, but wondered if anyone had any genuine experience and advice. Cheers
It's a area ripe for this. Lots of property needing attention that can be picked up for a song - and the market in general for decent houses it very strong. So you shouldn't have a problem flipping once renovated, or maybe better still renting to students (Staffs and Keele Universities).
He did have the rental income over the years so he was up on the deal but not as much as he originally hoped.
Also don't ignore the geographical implications, although property in Stoke is cheap being London based meant that it made it difficult and more time consuming to deal with any problems that arose.
For example - I found a place in Stoke for £36k guide price, the place next door sold in 2017 for £96k. I know there's a lot more factors to think of, but that would be the kind of place I'd be looking at. If the overall out lay was £60k, and the whole thing took a year, from buying it to actually selling it, that would be the outcome we'd be happy with.
Stamp Duty will be more of a mute point and may be down to your solicitor's interpretation. I'd be concerned on taking a year to do up a place, you need to be in and out much quicker, what happens if the housing market crashes or starts dropping? A Years too long.
Student rentals although lucrative are hard work much like any HMO's and quite rightly regulations are getting tougher, but the returns can be good.
@bobmunro what's a 4 bed HMO suitable property for Keele/Staffs likely to cost?Cheers mate.
I'd hope the actual renovation would only be a couple of months but allowing upto 12 months to include the time it may be on the market.
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Let Em All Come Down To The Valley0
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i_b_b_o_r_g said:Let Em All Come Down To The Valley0