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[millwall]

hi all not been on for a couple of weeks as bought another house  with the help of family and friends we gutted it re plastered every wall and ceiling  new kitchen bathroom central heating etc  been working on it day and night  im now exhausted but it was worth it    our new tenants moved in today  and we are getting top rate rent    im now cosidering buying another but not for a while  need to recover as had only just finished doing my house up   still im off work now until wednesday  so a bit of r & r  and a few beers

[Dishevelled Den]

Well done Mill - enjoy the beers.

[tidla]

glad the hard work has paid off.

finding a good deal on the mortgage cannot of been easy?

[millwall]

glad the hard work has paid off.

finding a good deal on the mortgage cannot of been easy?

it wasnt easy  a friend of the family is a mortgage advisor and helped us a lot and even though i dont have a mortgage on the house i live in i still had to find a massive deposit    

[Danny]

Mine will be for sale soon, and has excellent rental potential

3 double bedrooms, huge kitchen diner, new bathroom, 2 more reception rooms, and off road parking for 4 cars (had 7 squeezed on at one point!)

the fact that its way up north means it'll be much cheaper to buy!!

[tunnie]

deposit is the hardest bit, took me just under 3 years to save approx £35k, some of it got accidentally spent on a couple of motorbikes and snowboading lessons / gear / holidays 

I ended up putting 10% down on my flat - The only way to get a really decent rate was putting down 25% or even 40% deposit, would have taken too long to save that, by time I had, would have needed even more 

[aaronjb]

Cor, second houses, flats in London.. how the other half live .. 

[sotmh]

yeh I gotta agree with that, but I congratulate milli on his acquisiton and wish you all the best.

[Mr Skrunts]

Rental market has gone crazy in the last few years with house prices rising.

A basic 2 bed gets £90/100 PW round these parts, where as old 3 beds in not so good area commands a minimum of £95 PW.

Oh how I listed to my old man more when I was younger. :-/

[tunnie]

Rental market has gone crazy in the last few years with house prices rising.

A basic 2 bed gets £90/100 PW round these parts, where as old 3 beds in not so good area commands a minimum of £95 PW.

Oh how I listed to my old man more when I was younger. :-/

Blimey, I could rent out my 1 bed flat for about £250/£275 a week

[millwall]

yeh I gotta agree with that, but I congratulate milli on his acquisiton and wish you all the best.

thank you

[millwall]

Rental market has gone crazy in the last few years with house prices rising.

A basic 2 bed gets £90/100 PW round these parts, where as old 3 beds in not so good area commands a minimum of £95 PW.

Oh how I listed to my old man more when I was younger. :-/

Blimey, I could rent out my 1 bed flat for about £250/£275 a week

we are getting 190 a week  rental market is very good at the moment   although to get a good deal on the mortgage we had to have 35k deposit  so will be very tough for a while  but ultimately worth it   we are now saving to buy another early next year   going to be more struggling and headaches  but hopefully in the future my kids will reap the benefits    he says whilst touching wood and crossing fingers

[millwall]

Cor, second houses, flats in London.. how the other half live .. 

beans on toast for the next 30 years

[tunnie]

Rental market has gone crazy in the last few years with house prices rising.

A basic 2 bed gets £90/100 PW round these parts, where as old 3 beds in not so good area commands a minimum of £95 PW.

Oh how I listed to my old man more when I was younger. :-/

Blimey, I could rent out my 1 bed flat for about £250/£275 a week

we are getting 190 a week  rental market is very good at the moment   although to get a good deal on the mortgage we had to have 35k deposit  so will be very tough for a while  but ultimately worth it   we are now saving to buy another early next year   going to be more struggling and headaches  but hopefully in the future my kids will reap the benefits    he says whilst touching wood and crossing fingers

Yeah, another reason I picked London rather than the North, where I could get lot more for my money.

If the worst happened and I lost my job, I could rent it out. There are 5 different tube/train line stations within 10/15 min walk of my flat, one of them is literally a 50 second walk, other is in Zone2 so it would be easy to find rental income.

What kind of paperwork did you have to get in place to rent these days? Think you need gas/electric certification and such?

[aaronjb]

Cor, second houses, flats in London.. how the other half live .. 

beans on toast for the next 30 years

  Sounds familiar! It's just this is my only place Mortgage was 61% of my take-home last month, though so I suppose I should be hoping for hyper-inflation to inflate my salary and bring down the size of my debt! Maybe in 10-15 years I'll think about a second place, but by that point I'll only have 20 years to pay off a mortgage or thereabouts :-/ bah, if I have kids they can fend for themselves! 

Anyway, don't get me wrong .. I wish you all the best, too  Mr Landed Gentry