TalkBuy2Let

Lot of chat, but no answers yet. Just work on the basis that there is an influx of whatever you want to call them in that area of Sheffield and if you know why I would like to know.

zzzzzzzzzzzzz......... So PC Anyone out there who can answer the original question.....the real purpose of this thread.

So I take it you don't know why..... that's fine..... next

There seems to be a massive increase of assylums wondering around the Handsworth area of Sheffield. Everyone living in the area is commenting on this apparently. Does anyone know why?

You can get all the information you need by visiting Sheffield City Council's website and clicking on housing benefits. Off the top of my head I think it's about £475pcm for tenants qualifying for a 2 bedroom property.

My be you've identified a business opportunity!!

Diidn't mean to offend you, was just having a bit of banter - also seems to be the done thing on this forum. I am fortunely surrounded by a large network of property investors, landlords, brokers and conveyencors, so therefore have never found the need to go on one of these couses. I've heard there are good ones and bad ones though, so it's best to ask around if you are thinkinbg of going on one.

No, but I think you should. You might then at least learn something worth spouting off about.

I manage my properties myslef at the moment.

Thank you Pete. At long last someone who obviously knows what he is talking about. Cyclone, smart guy. Accusing someone of fraud in open dialogue is a very foolish thing to do without knowing your facts inside out. Do you realise I could take legal action against you for these defamatory comments and may consider doing so. My property dealings for the record are completely legal and above board.

Fraudulent, now that's a strong word. Shop around, there are lots of deposit rebate schemes in operation and conducting their affairs in a completely legal and ethical manner.

You're obviously the expert, so why don't you recommend one.

This particular property was repossession with a lot of equity in it and therefore could be sold on well below market value. In the current market valuers are massively over cautious and are notorious at the moment for under valuing everything. One thing

This is a really good point and is something that all investors should guard against. Some landlords bought property in the midst of a property market boom when prices were at their highest and even if you got yourself a bargain at the time, it would probably be worth less now than you paid for it then. Not a problem if you are not selling, but if you are remortgaging and suddenly your portfolio is worth less than it was when you took out your existing mortgage, then this becomes a problem. Many investors who purchased over-priced new build props, particularly in inner city develpments, are now facing this problem. It is much better to invest in property during a market slump and only buy at significant discounts below current market value. This way you will have a safe cushion of equity in your portfolio to buffer you against any further slump in the market, however unlikely this may be. For example, I have just purchased a house for £50k which was valued at £80k just a few weeks ago. I can not forsee a drop in prop prices of more that 37.5% and even if they did, my mortgage does not need renewing for 5 years which gives plenty of time for the market to pick up again and in the meantime my mortgage payments are more than covered by the rental income I receive. Incidentally rental demand has never been higher than it is currently. It also helps to have a good mortgage broker.

In posting this thread I was hoping to network with landlords, not forum flies with too much time on their hands and nothing positive to say about anything. Clearly I'm wasting my time here, so over and out!!!