Friday, 17 May 2013

BTL Portfolio: Closing Down - Everything Must Go

A portfolio of 25 BTL properties for sale in North London.  The landlord seems to be under pressure given the dramatic asking price cut of nearly 50%.

Using their income figure of £289k gives a yield of 5.8%.


http://www.rightmove.co.uk/commercial-property-for-sale/property-25406985.html

6 comments:

  1. The previous valuation was pure fantasy.

    ReplyDelete
  2. Thank you for sharing this shocking reduction!

    I suspect it is going to be one of many and was probably a "zombie" landlord who just couldn't keep things going.

    http://www.propertytribes.com/zombie-landlords-t-8048.html

    Plus, the original valuation was over-egged.

    It might possibly be one of those portfolios constructed in a "no money down" format, over egging the price to use the real discount achieved as the deposit.

    There are a lot of these toxic portfolios around, so there will be some real bargains to be had.

    ReplyDelete
    Replies
    1. Hi Vanessa,

      Thanks for commenting. That 'zombie landlord' thread is an eye-opener. There must be many people in this position. I wonder if benefit caps are having an effect here?

      Would be good to get other property tribers' views on this one.

      Delete
  3. I stayed long in this business and I know the hardship that everybody has overcome. Now, I understand that every struggle should be fought hard to achieve your goals. If you find yourself drowning into the vast of your business. Try to recover from it to achieve your goals as an owner of your Real Estate Business.

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    ReplyDelete
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    ReplyDelete