UK Landlord Forum / Life

An opportunity has come up that looks good but is it?

My previous job (and the one I'm going back to) was involved working with big developers i.e Taylor Woodrow, David Wilson Homes etc.

A new site, phase one, is due to start in May. I know this because my Mum has just priced for the site so she has a lot of information including house types etc (we clean the houses, ready for customers, sounds crap but it's the best job ever!).

I'm thinking it's a good idea because:

1) We know the site manager very well and he's one of the best in the country (we know the house will be well built and managed).
2) We also know the sales team very well (freebies or discounted prices could be on offer).
3) We'd have the pic of the bunch so could pick one of the best plots for maximum profit.
4) The site is in a very nice area of Leicestershire with good links meaning it could become a rental property.
5) We'll be working on the site which means I can keep my eye on it at every stage.

Any thoughts?

If you can get pick of the site, and good deal/discount then it sounds like a no brainer, I don't know the Leicster market for rental or appreciation. Sure you know this yourself - but sounds good to get in at pre-release

I thought i comented on this, has some one been messin

Lol Badger!

My head is all over the place lately, so god knows if this is a good idea... 

What's the typical price of these properties compared to the typical wage in Leicester? What typical rentals can be achieved on properties such as these?

PG, I must admit I haven't looked into any of the typicals you mentioned as it was a 'ping' moment and I scribbled it on here for quick thoughts.

I'm slighty thinking against the idea after seeking some advice and with a possible 'crash' there definitely wouldn't be much profit to be made in new property.

Any idea is a good one if you beleive in it.

Ahh, wise words Mr B... 

Just reading through again, if you can buy at a bargain price knowing that as soon as you exchange you could put it back on the market at a higher price then its a no brainer.

As for the rental market, just have to make sure the rent covers the mortgage, unless you are keeping for long term as a form of old age income etc.

Go for it if the price is right, its not what its who !!!!!!!!!

xx

I wouldn't want to buy into the current market without a large amount of research into the purchase. The days of buying properties at random and having the price go up automatically are, I believe, gone.

Another question I would ask myself is:

To what degree is there a shortage of housing in Leicester. Is there great difficulty obtaining planning permission, against a rising local population. Or are there new houses going up all over the show.

I wouldn't expect Leicester to have too high an average salary. How many people can afford newbuild houses? Leicester is a suspicious distance from London, and on the M1. Some of these houses may be priced to capture long range commuters from London. If so, they could really drop a long way IF there is a crash, as if property nearer London becomes affordable, the houses in Leicester and other places will then only draw purchasers from the local area.

I know that prices are nearly static in Nottingham. Is Leicester different? Have prices been rising at least 10% a year?

By the way, I am not a poker player. I think that houses in the UK are overvalued, but the bubble is not necessarily finished yet. But betting on further irrational behaviour is not my style. Others may have a more risk-selective strategy and advise differently.

You're not just a pretty face are you Badger!

I'm not aiming to be a landlord (I'm no lady!) but it was an after thought.

From what I've seen in the last 12 months, big developers are slowing down and more new properties are standing empty - I'd know, I have to clean them every week!

Quote from: Badger on April 01, 2008, 11:47:22 AM
Just reading through again, if you can buy at a bargain price knowing that as soon as you exchange you could put it back on the market at a higher price then its a no brainer.

As for the rental market, just have to make sure the rent covers the mortgage, unless you are keeping for long term as a form of old age income etc.

Go for it if the price is right, its not what its who !!!!!!!!!

xx

Surely he'd not only have to put it on the market at a higher price, but also sell it at a higher price.

As with everything house and money, i agree and have said before home work is the key to any * most* lucrative purchases.
I think the fact you have stated that the houses are in a nice part of Leic coupled with the fact that the builder is of good stock and has invested money in his project seems to me you may have a head start than some.

Unless this "good part of Leicester" is already factored into the price.

For me, the price would have to be a massive bargain to compensate for the risk I perceive in the market. And since I know that there are others that don't perceive such a level of risk (such as yourself Badger) I know that I would be outbid by others, who would still believe they have a bargain. Exit time!

Quote from: Property Guru on April 01, 2008, 11:54:45 AMSurely he'd not only have to put it on the market at a higher price, but also sell it at a higher price.

Why does everyone think I'm a man?

You said:

QuoteI'm no lady

. I took this as meaning that you are male, and that the icon was of someone else.

Oh noooo.

I mean't I'm not a lady in the sense of ladylike - I'm definitely all woman and the avatar is me... 

Fwooooarrrr!!!!!!

Haha!

I wouldn't speak too soon.

Have you seen Fee's avatar? She's also a few years younger than me... 

Then theres Badger...

I can see that my property research is at risk of being distracted here. And I've only been on this forum an hour!!! "Fee" you say....

Moooo in your avatar you look girly & pretty to me ! 

And what is this about me then ? ? hmmm hmmm

I'm starting to feel obliged to point out that I'm in a committed relationship, and so that any compliments I give are therefore honest compliments with no ulterior motives.

That said, both of you ladies are [adopts "Little Britain" voice] GORGEOUS!!!!!!! [/adopts "Little Britain" voice].

That pic was from my birthday weekend. It was the first time I'd dressed up girlie in 10 years!

I must add that my boyf picked out my top (he's very proud!).

So girlie I am not... 

Oh and Fee you're bootiful and the original eye candy of the forum, so ner!

Hey i have two eyes and you are both candy in each one. lol.

PG
I suppose we are all very different and what one does doesn't reflect what someone else would do,  At the end of the day we all * in business* feed our need in many difo ways.

Welcome to the forum by the way, your input I am sure will be greatly appreciated


Badger