UK Landlord Forum / Life

Ok just had an offer i dont think i can refuse.
A one bed flat in a good spot for 95k, with a sitting tenant.  The only thing that needs doing to it is a roof job.
The flat is upstairs, the lower flat will also be up later on next year, for sale by my mate who is selling the upstairs one.
What do you think, what sort of questions would you be posing,
What sort of thoughts would you have to the future of the place etc etc etc.
When i have more details i will post, but ask questions if ya wish

If its a mate then that might explain the bargain price, but I'd still be interested in why he's offering it so low. Does he need the money? What's happening in the area? How much will the roof job cost (get it estimated before you commit to the purchase, by a pro). Why isn't he selling them both now?

Just a few thoughts from the scary lady


V

Gulp thank you Scary one. think i maybe to worried to post lol.

Hes selling as the dude in the flat is his ex gay lover. and he can invisage problems next yeaar etc, its complicated, and I AM NOT INVOLVED pfag, ok.

The price is good yes, he is a spirtual person who does not beleive in the con, so he will let it go to me for what he thinks its worth without any add ons bla bla.

It would rent out for a good price aswell, and the sitter would have to pay the increase which i know he could .

The prospect of having the downstairs is the thing that may sway me above all else.

My mate has made handsomely on both properties as well,

Ok, that's a suitably uncomfortable situation to warrant the price drop. Sounds like a good bet!

Although you will have to deal with your mate's ex. Perhaps make sure he doesn't realise you two know each other?


V

How long is the lease for? I'm assuming it's leasehold.

How long has the tenant lived there for? And has the tenant always made payments on time? Additionally, how long does the tenant plan on staying there for?

He has aways paid and is a good tenant..

Lease?

Not sure how long, but yes it is

Find out!!

That's vital! That would have been my first question!!

999 dude

Awesome!
That's a good deal badgey.
Let me buy it. You already have enough!

Im gonna take this place of his hands.  It wont be till after xmas now, but i think i will use it as a PIP project and Share all the hows whys and wherefors.
Watch this space

You're so selfish!

I would say yes to a joint venture, But i dont feel you love me enough just yet

I'd love to be joined with you...

Sounds good stuff badger !!!

cheers

simhar

Web: Properite Landlord Software - http://www.properite.co.uk