Thankfully I moved to Sydney where you can buy the same crap at the same prices, but with a bit more sunshine
It’d be turned into multiple studio flats and rented out for £4k a month each
Jesus . £1.7 then another 500k to refurb on top
They’ve been stiffed imo, but not by much. £1.2m max
Can’t even be bothered to fuckin hoover these days
What a bloody joke.
“Requires modernisation”
Asset management company buys house with large loan and only pays interest. Converts into 6 bedrooms for as little money as possible. Charges 2.5k per month in rent pulling in 15k a month. Puts aside 1k for maintenance, 2k for management and 5k for interest repayments meaning 7k per month direct profit. Jack’s up rent at every opportunity increasing profits. Sells asset in 10 years time for more profit because every other house in the area has been snapped up by other companies doing the same thing. These asset management companies are offshored in Panama and pay 0 tax. The owners live in the Cayman Islands and also pay 0 tax.
This is how we all lose.
Have they bought it already or are they selling it? That would not sell at that price in the current market.
It’s likely near Queens Park station. Anything within walking distance of a tube station will have a big premium as it’s such a huge huge benefit.
[deleted]
Won’t sell for anywhere near 1.7.
It’ll get reduced closer to 1.2.
Is that for real? I couldn’t find it on Rightmove (with price filtered).
HOUSING MARKET HACK. If you go East, you can get the same level of disrepair for your money, but *more square footage of disrepair*. The BARGAIN.
Wouldnt bother
Jeeeez
A decent quality bag of coke if you’re lucky
First house share I moved to London had this EXACT same layout, they must have been blueprint built around the same time. The whole place was falling apart, it was terrible
Expensive meth lab.
My house is twice the size of that for nowhere near that price. And I live in a London postcode
Bewdiful
Thats why everyone is fucking off out of London to new builds in the satellite towns! Less than half the cost, a fairly decent garden, can park the car easily and countryside on the doorstep.
London is a shit hole now.
Is this the latest Omaze prize campaign?
You could’ve at least cleaned it for this kind of money
You can get one of these in Cardiff for about 1.4m less.
Its an absolute shithole and a travesty that anyone would even consider paying that much for it. The housing industry has gone way beyond reason. What a joke.
My in-laws live in a house that would be close to a million and it’s ridiculous really, dated 2 bedroom terrace with tiniest back garden and not even remotely near a tube station.
1 months rent for a slum landlord
It looks like 1.7 million for a shit hole but I guess if someone has a huge purse it would look awesome!
1.7 million for a damp shit tip.
This house is never going to be sold for 1.7m in today’s market, decent 4 bed but needs loads of work. 1.2m tops IMO.
£1.7m and they can’t even be bothered to give it a clean and pick all the crap up off the floor.
Costs 1.7 mill and you also have to live in London 🥲
We’re so fucked.
The layout is exactly the same as my parents first house in manor park.
In 1972 it cost them 15k
34 comments
Thankfully I moved to Sydney where you can buy the same crap at the same prices, but with a bit more sunshine
It’d be turned into multiple studio flats and rented out for £4k a month each
Jesus . £1.7 then another 500k to refurb on top
They’ve been stiffed imo, but not by much. £1.2m max
Can’t even be bothered to fuckin hoover these days
What a bloody joke.
“Requires modernisation”
Asset management company buys house with large loan and only pays interest. Converts into 6 bedrooms for as little money as possible. Charges 2.5k per month in rent pulling in 15k a month. Puts aside 1k for maintenance, 2k for management and 5k for interest repayments meaning 7k per month direct profit. Jack’s up rent at every opportunity increasing profits. Sells asset in 10 years time for more profit because every other house in the area has been snapped up by other companies doing the same thing. These asset management companies are offshored in Panama and pay 0 tax. The owners live in the Cayman Islands and also pay 0 tax.
This is how we all lose.
Have they bought it already or are they selling it? That would not sell at that price in the current market.
It’s likely near Queens Park station. Anything within walking distance of a tube station will have a big premium as it’s such a huge huge benefit.
[deleted]
Won’t sell for anywhere near 1.7.
It’ll get reduced closer to 1.2.
Is that for real? I couldn’t find it on Rightmove (with price filtered).
HOUSING MARKET HACK. If you go East, you can get the same level of disrepair for your money, but *more square footage of disrepair*. The BARGAIN.
Wouldnt bother
Jeeeez
A decent quality bag of coke if you’re lucky
First house share I moved to London had this EXACT same layout, they must have been blueprint built around the same time. The whole place was falling apart, it was terrible
Expensive meth lab.
My house is twice the size of that for nowhere near that price. And I live in a London postcode
Bewdiful
Thats why everyone is fucking off out of London to new builds in the satellite towns! Less than half the cost, a fairly decent garden, can park the car easily and countryside on the doorstep.
London is a shit hole now.
Is this the latest Omaze prize campaign?
You could’ve at least cleaned it for this kind of money
You can get one of these in Cardiff for about 1.4m less.
Its an absolute shithole and a travesty that anyone would even consider paying that much for it. The housing industry has gone way beyond reason. What a joke.
My in-laws live in a house that would be close to a million and it’s ridiculous really, dated 2 bedroom terrace with tiniest back garden and not even remotely near a tube station.
1 months rent for a slum landlord
It looks like 1.7 million for a shit hole but I guess if someone has a huge purse it would look awesome!
1.7 million for a damp shit tip.
This house is never going to be sold for 1.7m in today’s market, decent 4 bed but needs loads of work. 1.2m tops IMO.
£1.7m and they can’t even be bothered to give it a clean and pick all the crap up off the floor.
Costs 1.7 mill and you also have to live in London 🥲
We’re so fucked.
The layout is exactly the same as my parents first house in manor park.
In 1972 it cost them 15k
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