unclebuck

Forgot the link.

Bank warning on negative equity

Now is *not* a good time to get into the property game.

UB

mattstant

I think Self certification is the big nightmare this time

Alpine99

Sarah Beenie has just been on Radio 5.. It would have been interesting tp ask her where she made most of her money.. TV presenter, book, or property development.. I bet I could guess the truth if not the answer..

Scooby96

NACRO - please could you re-send to scooby96@moomia.com as the email as per my SN profile is mucking around at the moment, thanks matey

imlach

I reckon Sarah Beanie would make quite a bit just letting her own property out, and allowing me to inject a bit of interest all over her rather large assets

Scooby96

imlach - quality mate - I'd definitely like to whitewash her facia!

RON

yeh, I spotted the hair colour changes, and, I know that the Plaster shortage was alst summer, so are we to believe that they've done another 5 houses since, thats surely only feasable with more than one on the go at any time, and that not the name of the game, they're cheatin!!

MattN

I missed the first one so am at a bit of a loss...

My understanding from this thread is they had 100k but spent 118k?? Then sold for 125k and bought for 200k?

Where does all the extra cash come from?

unclebuck

The bottomles pit of the TV License payer. Ithink the actual 'profit' they made on both is only around 15K. Why oh why they are fronting this show is beyond me. They are a right pair of muppets.

UB

George W. Bush

Clifton in Bristol eh? A market I actually know intimately. A basement flat too. Scarily familiar, as were their up's and down's. Shheeet... offers falling through is normal around there, as is the loud music. They should know that.

I made sure to tell the agent *never* to take clients to view in the evenings Rule number one in Clifton Village.

So, in the end they went from offers of 260K to 237K and thought they'd done well *******...

PMSL


UB

damn.... gave my 'alter ego' away too LOL

[Edited by George W. Bush - 11/19/2003 10:00:20 PM]

GreenMachine

pmsl at Nigel the developer tho' when the boys were helping out in the garden:

"we've got emergency services standing by in case anyone chips their nail gloss" rofl!!

PG

Uncle George

How are you enjoying your stay @ the palace ?

unclebuck

And, what all that crying **** about, just 'cause the deal fell through And, all that "och, I'm so excited at getting an offer I'm going to chase ye round the hoose and bum ye..."

Ok, they didn't actually 'say' that but jeez, they need to get a grip, those two.

UB

PG - I fooked that up didn't I? Oh well....


[Edited by unclebuck - 11/19/2003 10:25:49 PM]

ChrisB

I think I caught part of this earlier. Were they the goons moaning at the builder as they couldn't have school radiators in the flat? I was hoping he'd lamp one of them

Speedy Gonzales

Apparently next weeks episode is the one to watch. It all goes **** up!

RON

This one flat alone must have taken 6 months from buying to selling, so there's no way they're gonna do 7 in a year without overlapping them, yet more hair colour changes tonight, and what I can't work out, is the fact that there always seems to be a camera crew around when they get the calls, strange eh!!

MattN

As far as I can tell they've made about 25k and started with 100k so how they can be buying for 25k is beyond me.

DavidBrown

As is often the case with these shows (like Property Ladder on the day before) is that over the past 2 years, it's been the rise in the property market in general which has given people their profits, and not the actual development of the house.. often, if the owner had just kept the house, done nothing with it, and tried to sell it in 6 months time, they would have made MORE money !

Last night, they had to wait 4-5 months to sell the house, at the same time they had to drop the price about £25,000 while all house prices had been going up by about 1% a month.

If they'd taken Nigels advice and just "wiped it's bum" (ie. quick once over with white emulsion) they'd have sold it sharpish.. but no.. they had to be all lifestyle and clever.

And as mentioned before, there's some very iffy arithmetic in their "we're turning £100,000 into a million." .. I mean, they actually started with £120,000 (£102K for the house + £18K on renovations).. then (overlooking estate agent fees) they miraculously bought another house costing MORE than they sold the other one for.. and then went on to spend even more on it. It's a fallacy that they're turning £100K into £1M just by renovating, when they're constantly pumping £20K here and £50K there into updating these houses.

I've done well out of buying houses, and people say to me "Why don't you sell up now.. and buy them when the prices have gone down again".. well, the problem is, you don't know that prices have peaked yet, until they've started to fall.. I mean (picking arbitrary figures), say I had bought a house 3yrs ago for £50K, and it's now worth £100K, yes I could sell it and make a £50K profit and wait for the house prices to go down and buy one again.. but what if they don't go down just yet ? What if sell now, but the house value goes up to £150K ? and then, when prices fall, they come down to say £120K ? Well.. I can't go snapping it up, cos I sold it for less than it's new "low" price.

It's all a gamble at the end of the day.. don't necessarily think someone is a genius, because they got on the rollercoaster at the right time.

Andy Tang

iTrader: (3)

They are doing all seven properties at once!!

When looking for properties, the taller one has blonde hair.

When doing the properties, he doesn't.

When they run through the interior design of the properties, the one with dark hair has a silly beard and glasses.

unclebuck

The wee bull****ters are back... what lies will they tell this week??

Time for a giggle

imlach

So - so far, they have got to £330k by starting with £100k, and "spending" £200k on renovations.

Hmmm!! I could make £100k into £300k by borrowing £200k too

ChristianR

iTrader: (1)

I bet they wished they took the original offer, instead of being greedy!