rjmahan

Just wanted to bring to everyone's attentions plans for a 100+ car park off Eccleshall Road... https://planningapps.sheffield.gov.uk/online-applications/applicationDetails.do?activeTab=summary&keyVal=RR5G1UNYIR600&fbclid=IwAR0fgdifFnQa9TQL2BDnFhmZCjgYzrgj0Og4bN71y4VJfn-DFSTDDYvUCPk They are not really examining impact on flooding/traffic and there is ample cheap parking in the area... Sheffield and Porter River trust are objecting as it will delay the porterbrook trail for even more years. https://www.facebook.com/SheafAndPorterRiversTrust Would be good if people could object...

Yes - though time / date has been moved now to 25th March.

Hi, I have arranged a meetup for a number of us who invest on the stockmarket in individual stocks. This is suitable for experienced / reasonably knowledgeable investors. Please see the facebook group or send me a PM if it is of interest. https://www.facebook.com/groups/499077480575534/?ref=group_header Location is near the station. Thanks, Rob

I have parking available near Eccleshall Road, Pomona Street - £16 per week - PM me for details.

I have some very good spaces for camper vans available. PM for details

Hi if you have experience investing on the stock market and would like to talk about investments Why not come along to my meetup on 31st Jan at 6PM? Please PM me for further details. Best wishes, Rob

Location added - Furnival Gate.

Try my group

Surely no S.21 as it is assured not shorthold assured ?

But if you buy at a 50% discount does it matter ?

I bought one. For 37k (inc fees) I get £3848 a year. Soon to rise to hopefully just over 4k (rent assessor permitting). I have to maintain the building. and pay tax on the £3848. If/ when tenant moves out / dies I get a house worth hopefully £50-60k, though pay CGT on the gain. Tenant will never move out - they would pay more in a council house - plus have lived there 30+ years so why move now ? The assured tenant pays a market rent but will have to maintain the decoration etc themselves so it isnt that attractive.... It is very much intended as a long term investment. If I hold it 15 years they pay for the house (after tax and likely bills). I then of course still have the house. This assumes no rent rises.... I wanted it for the income - to go towards replacing my job.

These are not ASTs. They are tenancies dating from the 1970s or before. I can't easily evict, I am not responsible for the internal condition of the property other than making sure it is watertight, safe and plumbing works. One of mine pays a reduced rent that I can only increase at inflation. The upside of this is you get higher yields and possibly a property you buy at 30k might be worth 60 when the tenant passes away or moves.

True - I see your point about tax changes under Labour - equally longer leases could make these long leases relatively more attractive. I know for a fact investors in this area have made very good returns. Although I am from far away I live in Sheffield. Lots of absent landlords in this area... Out of interest property is here - sold for £35k and not to me. http://www.rightmove.co.uk/property-for-sale/property-71162138.html

Thanks for your reply Hippo, You make some very good points. 14% yield is gross - but the difference between gross and net for me is ambiguous. I might shortly be leaving work - so my only 'income' will be at or around tax free allowance. As I own my own place and have very little mortgage debt and a modest lifestyle with other money coming in from a couple of other btls / capital gains from the markets I hope this can be enough for me. I checked the roof as best I could when I was there and it looked fine. Tenant says there are no problems - but no guarantees. You are right to raise it though. I am not comfortable letting out a place with no central heating - I am happy actually to put it in, there are grants available and it makes the place much more sellable. Not sure if the guy that lives there will let me - and due to his tenancy he has every right to stop me. As to why the current landlord wants to offload - could be any number of reasons. I suspect properties will be offloaded as leveraged investors move ahead of a rise in rates / individuals try to avoid reduction of mortgage interest deductability. If the guy sells it for what I expect it to go for he will have made a 35-40% loss since just september 2016 - he really overpaid. I did imply long term tenant - he has been there since the 1950s / 60s. How much longer he is there is highly ambigous. On the locality - I disagree with you - places round Middlesbrough / Newcastle where I am from every other property is boarded up - it does affect the area / locality when you are bottom fishing like this... I dont want to have my money in a place which is going to be like this in 10 years time... Why do you prefer short hold tenants ? Surely those on long leases - giving you a higher yield (possibly even after expenses) are a better bet. When/if they move out you could also benefit from a capital uplift ? I am going to have a pop at the auction but I doubt I will win - my ideal value is now below guide price - basically I have found the value of the property as a shell and if I can pay that or thereabouts I will almost certainly make money. I will hold fire and wait for other properties in the area where hopefully both the property and tenant will be in better condition! Thanks for the help.

I have done BTL on a flat in Middlesbrough since 2012 with few problems - only issue I had was a woman who filled the place with fish / terapins then complained about damp ! I served notice on her then she left.

No surviving family so no inheritance issues, thanks.

Thanks Hippo, What I am looking at is a property with an assured (not shorthold assured) tenant. He has been in there since the 1950s inheriting the lease from his mother. Yield is 14-15% gross - 12% after tax. He is on housing benefit, there is a small shortfall I think he is willing to pay. Issues are: Property has no central heating. Hasnt been modernised at all since the 1950s. The tenant is responsible for decoration and isnt too keen on central heating. If my tenant dies it will need complete renovation or to be sold on an unrenovated basis. Property is in a former mining village. Lots of quite expensive new builds going up. Village has increased substantially in size. I am concerned as all former miners die off who will buy the 1950s ex coal board houses ? I actually think they are decent enough houses and if I lived there would prefer to pay 1/3rd the cost vs a modern house. Not everyone thinks like me. Tenant is in poor health so could die at any time. Seemed OK (ish) to me when I met him. So might go on for years. No work needs doing to the property. Others in the village are well maintained - this isnt the sort of place where properties are abandoned / boarded up - it's in commuting distance to local centres like Barnsley. There are lots of other tenanted properties in the area and I wonder with tax changes to BTL and people having large portfolios they may sell out. As I am a cash buyer to some degree I can wait, pick and choose. I will emphasise this point - it has a 14% yield so in 8 years will have paid for itself. Any thoughts ?

Hi, I wonder if anyone out there knows about could offer me any mentorship / guidance on Buy to Let - particularly buying property with sitting tenants? Anyone done this as a strategy over a number of years. Thanks

Am actually not a spammer... Spammers usually send links to things...

If you have interest / aptitude can make lots of money trading stock market / cryptocurrency?

Hi, Can you please confirm that there will only be hourly buses from Margate Drive to the city ? Why hasnt there been proper consultation on this - it will affect a lot of people ?

I think you are better off as a young professional to live in Firth Park / Fir Vale / Grimesthorpe. These are not the nicest areas but are cheap. If you buy a house for £50/£100k vs £200k+ in a nice area its a lot of money you save in mortgage interest. This money you can either spend on taxis / going out if you want - and still come out ahead or can invest to get a better house in a better area later. I have never been mugged or broken into. Worst thing about the area is the litter...:rant: I live just off Grimesthorpe Road near Margate drive and whilst I do wish I lived in a nicer area £100k+ more for the privilege and servicing that debt is far too much to pay. Lots of Sheffield house prices are driven by school quality - but if you don't have kids why participate in that rat race ? People tend not to think like me and end up enslaved to their jobs mortgage...

Try selecting the area then using pivot table...

Still no student annual tickets on firsts website and confusion if you phone them... tickets usually from 1st September, will price go down? Not likely

Can I ask what do you? I'd like to be able to make £60k working abroad...