Great video! How about a video like "You've got a £50k cash. How to start a property portfolio!" Then look at houses and guesstimate some of the prices to go from cash to land lord. Like £25k deposit, £15k to renovate..... and so on! Would be very interesting!
Matt - avoid the leasehold houses, especially if the term is 99 years or less. The freehold houses are fine, roughly the right prices for the area. It used to be the case that the average occupation of a house was 7 years. Now it is much longer. Finish up with a leasehold with 70 years remaining, it will affect both resale and selling price. The UK has the oldest housing stock in Europe and maintenance is an issue even for the best of those dating from 1920 or earlier - pointing etc has to be done, reroofing, all at some stage. A bit like owning a Range Rover!
Most flats however are leasehold throughout the UK and can offer excellent rental yields. In fact it's often said DON'T buy a flat unless it's leasehold, as with leaseholds (at least good ones) it should have a regular maintenance program (possible management company), so the properties don't fall in to disrepair. I understand banks don't like lending if the lease is under 50-years, but you just have to factor in the falling property value with the lease winding down, or pay to extend the lease if it's good value to do so.
Good video. Skated over a few things though like some of those properties were leasehold which is significant when you are talking about dropping the kerb and adding a canopy. EPCs you didn’t mention when most investors are looking for when buying. That last one was a G. A real money pit you would be doing well on the 15-20k budget. Entertaining video though which I guess was the aim. Hope to see more 👍
As a French guy and home owner in Germany, it's interesting to see how different homes can be in different countries. As a wish for an upcoming video: cheap houses in the English countryside. If I had the cash to spare (....like, a lot), I would fancy very much a country estate in the Cotswolds (although to be fair I have never been there, but it just looks so special...).
@@highpeakproperty Are you by any chance, involved with "High Peak Conversions" Windmill ... Mcr. Was there today getting my van carpet lined and found that place nearby.... 🤔
Generalising here (and I like Matt and admire his work!) but... as this is a video about buy to let properties this is one of the very things that has assisted in spiralling costs of houses and pricing young people out of home ownership. Additionally, the mortgages some landlords have obviously shot up in the last 12 months which is often cited as a reason for them serving a section 21 notice on tenants - that the rent they are charging said tenant now no longer covers the mortgage repayments.
If it wasn't for the landlords leeching off the back of working people and the sell off of social housing, you'd probably have your own house by now. Both are to blame for youngsters not being able to afford property in this day and age.
Hi Matt, anothere excellent and professional video! I would advise stay away from rentals, and only renovation projects, too much hassle to deal with tenants etc. but yes your in the right price bracket for this. And yes I have rentals that I’m slowly selling off. Nothing wrong with Terrance houses, I would look for the larger 2 bed terrace, that you could re arrange the the upstairs with stud walls and moving the bathroom if you have to, creating a 3rd bedroom. Again, I would advise staying away from gardens for rental properties, the tenants wont look after them. Airbnb is the way to go in these areas now. If you would like more pointers , get in touch, John
Very impressed with those prices. If I was younger, I would definitely look to move to Manchester. I would like a similar video for the High Peaks area - and also one showing the luxury properties (I often admire houses that you drive past).
Watch all your channels. Well done to all the effort you put in to make it so professional Would be good to see you do a video on all your video editing process, tools, software, editing and kit you use and how long it takes you to edit and get live. Cheers, keep up the good work
Hey Matt, cracking video as per usual. Go to 10:39 and have a look at the bottom cupboards, it looks thick with mould all over them and the floor. It could just be camera artefacts but I'm leaning towards mould.
With the new legislation to lower tax allowances and new tenants right, Agents fees going up, interest rate set to climb even higher and selective licence's and CGT when you sell, I'm sorry but its over for you young guys. One bad tenant and it will take you 3 years to recover with them profit margins.
The big issue with older properties and the rental market is the new energy rules for landlords, most will need £thousands spending on insulation etc to meet the new rules. I know a couple of investors who have been selling off terraced properties, plenty of ex Hong Kong buyers in my neighbour hood snapping up houses because Trafford has grammar schools!
You can bump the EPC up one grade by fitting an air source heat pump or adding solar. The system is stupid as this does not address energy usage - in a lot of cases with ASHP it increases energy usage.. but hey Green energy was never about the planet, just raising revenue.
I agree with what you said about Terraced Houses. My house is a mid terrace built around 1900. The bathroom was in an extension off the kitchen and is now in what was a bedroom. But it was a repossession, so I got a good deal.
Ive not invested in property for about 7 years , the prices are rediculas. I mainly invested in terrace house, as they are keep to do up and rent really well
@@jamesmarco9685 it's not a price comparison exercise, it would be based on what good quality three bed semi detached properties are available. I'm originally from Oxfordshire and certain areas are comparable with Cheshire/Manchester
The house on Markham Close in Hyde. My mate used to live with parents on Markham Street and the guy who owned the garage at the side of the property used to let me use his equipment to repair my car for getting an MOT including ox acetylene. That was 76 to 79. Small world isn't it?
@@highpeakproperty I joined the Prison Service in 87 and was posted to Risley. I bought a house in Leigh in 88. The house was built in 84 and was £18k. I bought in 88 for £24k and sold it a year later after spending £1k for £41k. Picksley Street. You can't do deals like that any more as prices have got out of control. I now rent a council flat opposite the one you bought in Marple recently. Lot less stress lol
Thank you for that video, great to see your take on what you would need to do. Am in Norwich and considering buying my first buy to let but I might have to go a little distance as the prices are a little high for me here.
Hi mat super video very much up my street. I am thinking of doing Grimsby and Hull area. What do you think a lot cheaper obviously slightly less rent, but still good return let me know what you think Gary
@@highpeakproperty I love all your ideas And how you change properties for the better I couldnt sell my house. I was thinking of making my front garden into a drive and drop the kerb But around the side of my house i have a drive and garage Do you think i would add value and sellability with front drive but no front garden cheers steve
It seems there are quite a few little gems in that area Matt (not that I’m familiar with it) so I guess if you do your research and have a good team behind you it could work well. Very interesting video. Thought provoking! 👏🏻👍🏻
Love your channels! Will you be doing any more videos on your new property purchases? I'm originally from London, but relocated to the U.S. 20 years ago.
Great video Matt, you should maybe take a look at the Highlands. You can get so much more for your money up here. Or perhaps somewhere genteel and "posh" like Southport or Lytham. Not Blackpool though, cos that's a dump 😂
@@countludwigvonnippeltassel to be fair I’m buying a house in Blackpool as a holiday let but completely different market. Houses used to be cheap in Blackpool but they’ve definitely caught up with much of the north west now so not many bargains to be had.
All good comments... Looking at the UK housing stock it's easy too see most of it is dated and no amount of renovation will change.. These Manchester housing stock looks particularly bad... At some point these houses are going to have to be demolished and new housing created.. To achieve this I believe the government will add a cough 'green tax' on older housing stock and additional 'green' stamp fees... The end goal would be to make older housing stock unattractive or too expensive to own... As a landlord or even private buyer it is one to watch out for...
Useful video, I really liked it! It was interesting to listen to your insights and see some of the real estate offers in the UK. I like your car vids but also like these ones too, because of the topics and because of your attitude and personality. All the best from Budapest, Hungary. 🙂
To someone living in the U.S. these places look small. Could you mention the size, square feet or however it's measured? It would be interesting to compare to homes here.
Another great video Matt. I’d like to see a video showing how you got into the game - was it just excess cash used to fund the 1st property and then a mix of buying cash and BRRR? So many property bullshitters on the internet who will have you believing you can start with £1 and a bag of crisps and end up with a £1m portfolio in 4 days, so I’m all about being realistic - maybe a question to answer is if you had £20k, £30k etc as a starting point what would be your first move. Anyone recommend any good property channels? And not Samuel scammer Leeds please 😂
Matt or Anyone where i live near worsley ,There are 4 people sleeping in vans in the carpark in my park ,no body bothers them .the 3 vans are tidy 2 x vw and a mercedes sprinter ,2 nurses live in one van and 2 guys live in the other 2 vans ,no rent just mot tax and insurance and fuel . I speak to them most days when im out with my dog .
Avoid the one on Old Road in Hyde, my friend rented it a number of years ago and it was absolutely riddled with dampness despite a damp course having been done.
Hi Matt, could you give your opinion on leaseholds? Just generally, always get coined as a scam but for a buy to rent surely this isn’t the case as your only purpose is to make a profit!
Someone mentioned Hong Kong folk in the comments, it is very true, a great many properties in Tameside are being bought up by those coming to the UK under the new visa system. There has been loads of Chinese investment in the area for some years but this is now people coming to live here after the political crackdown in HK. The influx of extra money is pushing prices up further sadly, however they are nice people and need to live somewhere, I'd rather live next to them than a bunch of toerags from Gorton. 🤣😁
Crikey, these house prices are so 'cheap' compared to where I live in Oxfordshire. Here a two bedroom flat would be upwards of £200,000, and a two bedroom house £350,000 plus.
@@fathersunglasses6085 I really feel for youngsters today who have little chance of ever getting onto the property ladder. Things were enough hard for my generation (mid 40s now), but for our kids, they're impossible.
@@matthewgodwin3050 Tell me about it... I'm in my 20s yet to purchase my first home. Homes seem completely out of reach. Bill Gates "By 2030 you will own nothing but be happy" well I for sure am not happy.
I’d love to hear some opinions from anyone who has bought an apartment in M1-4 or M50. I recently visited Manchester City Centre and really enjoyed the vibrant urban lifestyle. However, I've heard mixed reviews about investing in apartments in M1-4 or M50. Some people are suggesting that I consider buying a house in Liverpool or Greater Manchester instead. What do you think?"
Good video, but you don't seem to be discussing the lease lengths of these leaseholds. If it's anything less than a few centuries, the market value of these properties will decrease considerably over the next decades. And also the yields you're implying seem insanely low - would these even cashflow profits net of 5pc mortgages and expenses? You keep saying £200-300pcm. Isn't this basically a 3% yield? You're looking at a yield below what a money market fund would generate right? Unless you mean £300 net profit monthly?
Yes that’s true regarding leases. I’ll do a video about that soon. When I say £200-300 a month, I’m talking net profit after the mortgage is paid so the yield is more like double that
The EPC rules are going to hurt investors.. Your going to struggle to get an older house to an EPC rating of C. Adding solar bumps up the rating greatly but at some cost to the landlord. 🤦♂️
Some great examples of time warp properties here but I know so many people who reject decent houses based on the current decor or furniture. You’re not going to be keeping that….!!
I’m absolutely baffled by these house prices. I live in Belgium and in my area, houses like these with double insulated windows and central heating cost at least €300,000.
The outskirts of Manchester have a lot of dilapidated housing stock, the prices are rising as they are either bought by slum landlords and rented or taken on good landlords and done up. otherwise they are going to first time buyers but that market is quiet at the moment due to interest rates and higher deposits scaring novices off.
It is so disgusting to see these washing machines in peoples kitchens. But one good advice is if people are going to invest for rent/investment is that you should be careful to buy too cheap/bad properties. If it is for flipping and you are capable of doing all the very expensive work yourself it might be a great deal but yet again, be careful with your wasted time. Remember your hourly including the money you could have earned elsewhere.
In the UK the default location for a washing machine is the kitchen. It was the easiest place to make space and provide plumbing when they became popular 60-70 years ago. As said in the video, many houses were built without an indoor bathroom, so they were squeezed inside as a retrofit with no space for a washing machine. Utility rooms are more common from maybe 1990's builds onwards, but it's just normal to have the machine in the kitchen. Fascinating how disgust can be so dependent on cultural norms!
Great video! How about a video like "You've got a £50k cash. How to start a property portfolio!" Then look at houses and guesstimate some of the prices to go from cash to land lord. Like £25k deposit, £15k to renovate..... and so on! Would be very interesting!
Matt - avoid the leasehold houses, especially if the term is 99 years or less. The freehold houses are fine, roughly the right prices for the area.
It used to be the case that the average occupation of a house was 7 years. Now it is much longer. Finish up with a leasehold with 70 years remaining, it will affect both resale and selling price.
The UK has the oldest housing stock in Europe and maintenance is an issue even for the best of those dating from 1920 or earlier - pointing etc has to be done, reroofing, all at some stage. A bit like owning a Range Rover!
true, but most investors i know will try to buy out the leasehold as part of the deal.
Most flats however are leasehold throughout the UK and can offer excellent rental yields. In fact it's often said DON'T buy a flat unless it's leasehold, as with leaseholds (at least good ones) it should have a regular maintenance program (possible management company), so the properties don't fall in to disrepair. I understand banks don't like lending if the lease is under 50-years, but you just have to factor in the falling property value with the lease winding down, or pay to extend the lease if it's good value to do so.
Could you do a run through guide of putting down a deposit and renting a second house out?
Some of those say leasehold.
Good video. Skated over a few things though like some of those properties were leasehold which is significant when you are talking about dropping the kerb and adding a canopy. EPCs you didn’t mention when most investors are looking for when buying. That last one was a G. A real money pit you would be doing well on the 15-20k budget. Entertaining video though which I guess was the aim. Hope to see more 👍
As a French guy and home owner in Germany, it's interesting to see how different homes can be in different countries. As a wish for an upcoming video: cheap houses in the English countryside. If I had the cash to spare (....like, a lot), I would fancy very much a country estate in the Cotswolds (although to be fair I have never been there, but it just looks so special...).
Great suggestion
@@highpeakproperty Are you by any chance, involved with "High Peak Conversions" Windmill ... Mcr. Was there today getting my van carpet lined and found that place nearby.... 🤔
Hi Matt, can you do a guide on helping youngsters getting onto the property ladder for the first time? And tips on how to save and things like that
Landlords don't care about youngsters getting on the housing ladder. There actively buying up the staple of the first time buyers properties
Generalising here (and I like Matt and admire his work!) but... as this is a video about buy to let properties this is one of the very things that has assisted in spiralling costs of houses and pricing young people out of home ownership. Additionally, the mortgages some landlords have obviously shot up in the last 12 months which is often cited as a reason for them serving a section 21 notice on tenants - that the rent they are charging said tenant now no longer covers the mortgage repayments.
If it wasn't for the landlords leeching off the back of working people and the sell off of social housing, you'd probably have your own house by now. Both are to blame for youngsters not being able to afford property in this day and age.
LOL, Matt’s actually doing the opposite
Hi Matt, anothere excellent and professional video!
I would advise stay away from rentals, and only renovation projects, too much hassle to deal with tenants etc. but yes your in the right price bracket for this. And yes I have rentals that I’m slowly selling off.
Nothing wrong with Terrance houses, I would look for the larger 2 bed terrace, that you could re arrange the the upstairs with stud walls and moving the bathroom if you have to, creating a 3rd bedroom.
Again, I would advise staying away from gardens for rental properties, the tenants wont look after them.
Airbnb is the way to go in these areas now.
If you would like more pointers , get in touch, John
Very impressed with those prices. If I was younger, I would definitely look to move to Manchester. I would like a similar video for the High Peaks area - and also one showing the luxury properties (I often admire houses that you drive past).
Watch all your channels. Well done to all the effort you put in to make it so professional
Would be good to see you do a video on all your video editing process, tools, software, editing and kit you use and how long it takes you to edit and get live.
Cheers, keep up the good work
Hey Matt, cracking video as per usual. Go to 10:39 and have a look at the bottom cupboards, it looks thick with mould all over them and the floor. It could just be camera artefacts but I'm leaning towards mould.
Don’t think anyone’s that bothered Paul - what is a camera artefact?
With the new legislation to lower tax allowances and new tenants right, Agents fees going up, interest rate set to climb even higher and selective licence's and CGT when you sell, I'm sorry but its over for you young guys. One bad tenant and it will take you 3 years to recover with them profit margins.
shaguar: You make a VERY good point ... Govt is killing rental ... as if the housing situation isn't bad enuf already ... 🤔🤔
We will be selling our remaining rental properties once we retire. Too much hassle, especially with all the changes in legislation in Wales.
@@AliWade1971 Same here, Bad tenant's and bad yields just not worth the hassle.
As a tenant I'm quite happy I can't get a Section 21 for repeatedly reporting a broken shower again
@@eeblihp Enjoy looking for another place to rent when your landlord sells up. Higher rents incoming as supply of rental properties shrinks.
I'd be curious to get your take on Hull. £80k still buys a lot there
The big issue with older properties and the rental market is the new energy rules for landlords, most will need £thousands spending on insulation etc to meet the new rules. I know a couple of investors who have been selling off terraced properties, plenty of ex Hong Kong buyers in my neighbour hood snapping up houses because Trafford has grammar schools!
You can bump the EPC up one grade by fitting an air source heat pump or adding solar. The system is stupid as this does not address energy usage - in a lot of cases with ASHP it increases energy usage.. but hey Green energy was never about the planet, just raising revenue.
Somebody please think about these poor investors having to consider safety!
I love your delivery. and the points you make...
I agree with what you said about Terraced Houses. My house is a mid terrace built around 1900. The bathroom was in an extension off the kitchen and is now in what was a bedroom. But it was a repossession, so I got a good deal.
awesome video definitely a sequel
Matt is brilliant again 👏 👌 👍.
Ive not invested in property for about 7 years , the prices are rediculas. I mainly invested in terrace house, as they are keep to do up and rent really well
Would be great to see a southern comparison, maybe Oxfordshire
You will get a garage in Oxford for this sort of money
@@jamesmarco9685 it's not a price comparison exercise, it would be based on what good quality three bed semi detached properties are available. I'm originally from Oxfordshire and certain areas are comparable with Cheshire/Manchester
@@janechurton8373 I'm interested, where can you get a 3 bed semi for 155k in Oxfordshire?
the stalybridge one had a log burner, that will save at least 80 pounds a month in heating bills.
Would happily watch more videos like this, on different areas around the UK. Shropshire would be great for me.
What a great idea for a video, enjoyed it.
The house on Markham Close in Hyde. My mate used to live with parents on Markham Street and the guy who owned the garage at the side of the property used to let me use his equipment to repair my car for getting an MOT including ox acetylene. That was 76 to 79. Small world isn't it?
Ah small world
@@highpeakproperty I joined the Prison Service in 87 and was posted to Risley. I bought a house in Leigh in 88. The house was built in 84 and was £18k. I bought in 88 for £24k and sold it a year later after spending £1k for £41k. Picksley Street. You can't do deals like that any more as prices have got out of control. I now rent a council flat opposite the one you bought in Marple recently. Lot less stress lol
Hey, up Matt !!! Top quality upload as per normal mate 👍👍👍👍
Thanks
Hello Matt, well done on 30,000 subscribers. Exited to see this video.
Enjoy the rest of your evening!
Yes, I'de like to see more of these ...
Thank you for that video, great to see your take on what you would need to do. Am in Norwich and considering buying my first buy to let but I might have to go a little distance as the prices are a little high for me here.
Thanks, good set of properties on review.
Property is so cheap up your end! Down here in Devon your lucky to own one property! Great video !
Hi Matt can we please get an update on the 2 garages you bought really interested in them Thanks
I agree with you , I don't like them dark wood windows , very different from London prices !
Very interesting video, a lot of information packed into it.
Thank you for your sharing
Would be interested in your take on Preston.
What about the leasehold? Would you go for them?
Questions...
1. Was a House Horizontal check done ✅?
2. Are these properties "fully loaded"?
Matt, you clearly love grey paint. It seems to be your default choice!!
Hi Matt fantastic video. It would be great to do a video in Leeds next.
Nice job as always, glad you brought new computer
Enjoyed this video Matt. More like this please🙏
Would love to see london area zone 1-6, any run down house you get 10+ people viewing. Hard to find deals
Hi Matt nice information on house market in Manchester area
Another informative vid Matt..plenty more properties in Cheshire to look at 👍🏻
Hi mat super video very much up my street. I am thinking of doing Grimsby and Hull area. What do you think a lot cheaper obviously slightly less rent, but still good return let me know what you think
Gary
My mum comes from Manchester and my uncle lives in leigh greater Manchester. The 2nd house over 350000 down south
Yes that’s right. Lots of bargains still if you’re prepared to put the work in
@@highpeakproperty I love all your ideas And how you change properties for the better I couldnt sell my house. I was thinking of making my front garden into a drive and drop the kerb But around the side of my house i have a drive and garage Do you think i would add value and sellability with front drive but no front garden cheers steve
Some potential in some of those , I think doing different areas around the UK be good and help people and give an idea on price in different areas
It seems there are quite a few little gems in that area Matt (not that I’m familiar with it) so I guess if you do your research and have a good team behind you it could work well. Very interesting video. Thought provoking! 👏🏻👍🏻
Love your channels! Will you be doing any more videos on your new property purchases?
I'm originally from London, but relocated to the U.S. 20 years ago.
number 10 you cannot just build an extension Toilet/bathroom,you need the sewer connection ..cost a fortune
Great video Matt, you should maybe take a look at the Highlands. You can get so much more for your money up here. Or perhaps somewhere genteel and "posh" like Southport or Lytham. Not Blackpool though, cos that's a dump 😂
Eh, there are some nice parts of Blackpool haha.
@@ukprintshop They must be very well hidden! 😂
@@countludwigvonnippeltassel🤣🤣🤣
@@countludwigvonnippeltassel to be fair I’m buying a house in Blackpool as a holiday let but completely different market. Houses used to be cheap in Blackpool but they’ve definitely caught up with much of the north west now so not many bargains to be had.
A look around. Bonny Scotland's. Houses would be good
I like seeing property prices there and match to here in New Hampshire, USA.
More vids like this please Matt, maybe look at some other areas like Leeds or Nottingham?
I'd like to get your view on the Harrogate area, where the asking prices are higher but the profits can be greater.
All good comments...
Looking at the UK housing stock it's easy too see most of it is dated and no amount of renovation will change..
These Manchester housing stock looks particularly bad...
At some point these houses are going to have to be demolished and new housing created.. To achieve this I believe the government will add a cough 'green tax' on older housing stock and additional 'green' stamp fees... The end goal would be to make older housing stock unattractive or too expensive to own...
As a landlord or even private buyer it is one to watch out for...
Love your work, Matt 👍
Matt, never buy a house near any trees. I learnt that lesson the hard way. Subsidence.
Useful video, I really liked it! It was interesting to listen to your insights and see some of the real estate offers in the UK. I like your car vids but also like these ones too, because of the topics and because of your attitude and personality. All the best from Budapest, Hungary. 🙂
Please do North Yorkshire - Cheers matt
Thank you 👍👍
I'm curious what you could find down here in the Bournemouth / Southampton area. Property down here is always fluctuating up and down majorly lol
To someone living in the U.S. these places look small. Could you mention the size, square feet or however it's measured? It would be interesting to compare to homes here.
Great video mate
Thanks 👍
Hi Matt, a very insightful video. Would you be doing this more often?
That's the plan!
Another great video Matt. I’d like to see a video showing how you got into the game - was it just excess cash used to fund the 1st property and then a mix of buying cash and BRRR?
So many property bullshitters on the internet who will have you believing you can start with £1 and a bag of crisps and end up with a £1m portfolio in 4 days, so I’m all about being realistic - maybe a question to answer is if you had £20k, £30k etc as a starting point what would be your first move.
Anyone recommend any good property channels? And not Samuel scammer Leeds please 😂
That’s a good suggestion. I was thinking of doing that soon actually
Wow wow Matt I live in a terrace it's ace nothing wrong with them.
I never said there was anything wrong with them it’s just from an investment point of view there’s not much I can do to add to its value
@@highpeakproperty I get ya pal no worries I get your point . Love ya vids keep them going getting stockport n surroundings on the map 💪
Matt or Anyone where i live near worsley ,There are 4 people sleeping in vans in the carpark in my park ,no body bothers them .the 3 vans are tidy 2 x vw and a mercedes sprinter ,2 nurses live in one van and 2 guys live in the other 2 vans ,no rent just mot tax and insurance and fuel . I speak to them most days when im out with my dog .
Hey Matt, love your videos, could you do one for Kent please
Yeah sure. Thanks for watching
Avoid the one on Old Road in Hyde, my friend rented it a number of years ago and it was absolutely riddled with dampness despite a damp course having been done.
Come down to Kent !!
I'm based down south, where property prices are 3-4x, like-for-like. What's your take on crossing the country to make an investment?
Can you do Derby, Nottingham or Leicester Matt?
Hi Matt, could you give your opinion on leaseholds? Just generally, always get coined as a scam but for a buy to rent surely this isn’t the case as your only purpose is to make a profit!
Worcester next hopefully i would see my house on there
Someone mentioned Hong Kong folk in the comments, it is very true, a great many properties in Tameside are being bought up by those coming to the UK under the new visa system. There has been loads of Chinese investment in the area for some years but this is now people coming to live here after the political crackdown in HK. The influx of extra money is pushing prices up further sadly, however they are nice people and need to live somewhere, I'd rather live next to them than a bunch of toerags from Gorton. 🤣😁
Crikey, these house prices are so 'cheap' compared to where I live in Oxfordshire. Here a two bedroom flat would be upwards of £200,000, and a two bedroom house £350,000 plus.
Yep still expensive for those living in Manchester and lesser affluent areas
@@fathersunglasses6085 I really feel for youngsters today who have little chance of ever getting onto the property ladder. Things were enough hard for my generation (mid 40s now), but for our kids, they're impossible.
@@matthewgodwin3050 Tell me about it... I'm in my 20s yet to purchase my first home. Homes seem completely out of reach. Bill Gates "By 2030 you will own nothing but be happy" well I for sure am not happy.
You are very lucky living up North. You would be paying three times that in the home counties
Southampton. Come down south for the next look
Who doesn’t love oggling at houses. Either to dream about living in a nicer place, or to feel better about not living in a hovel.
Glory, glory Man United!
I’d love to hear some opinions from anyone who has bought an apartment in M1-4 or M50.
I recently visited Manchester City Centre and really enjoyed the vibrant urban lifestyle. However, I've heard mixed reviews about investing in apartments in M1-4 or M50. Some people are suggesting that I consider buying a house in Liverpool or Greater Manchester instead. What do you think?"
How will section 24 affect your cash flow?
Good video, but you don't seem to be discussing the lease lengths of these leaseholds. If it's anything less than a few centuries, the market value of these properties will decrease considerably over the next decades. And also the yields you're implying seem insanely low - would these even cashflow profits net of 5pc mortgages and expenses?
You keep saying £200-300pcm. Isn't this basically a 3% yield? You're looking at a yield below what a money market fund would generate right? Unless you mean £300 net profit monthly?
Yes that’s true regarding leases. I’ll do a video about that soon. When I say £200-300 a month, I’m talking net profit after the mortgage is paid so the yield is more like double that
Do more
The EPC rules are going to hurt investors.. Your going to struggle to get an older house to an EPC rating of C. Adding solar bumps up the rating greatly but at some cost to the landlord. 🤦♂️
If you cannot get it to a C rating you have to prove you have spent £10k trying - not the end of the world
How does your mechanic feel about doing an engine and gearbox service on a 3 bed semi ?
Haha my mechanic will be retired soon
Aberystwyth, Wales - I want to challenge you
Colchester
on the south cost, these would be twice the price :/
Some great examples of time warp properties here but I know so many people who reject decent houses based on the current decor or furniture. You’re not going to be keeping that….!!
As one of your previous comments some of the properties were leasehold you did not address this
I’m absolutely baffled by these house prices. I live in Belgium and in my area, houses like these with double insulated windows and central heating cost at least €300,000.
In London houses like those will cost at least 600 gbp around 720k eur
The outskirts of Manchester have a lot of dilapidated housing stock, the prices are rising as they are either bought by slum landlords and rented or taken on good landlords and done up. otherwise they are going to first time buyers but that market is quiet at the moment due to interest rates and higher deposits scaring novices off.
Its basically because most of these areas, no one wants to live in i.e. Leigh
Christ! You can't get anything down here for less than £1000 a month! South west.
gary: actually his rental estimates were a bit high ‼️
And I think his work estimates were a bit low for those wrecks ...
I'm not telling you were we live, it's like paradise, 3 bed semi with garage 700 a month, semi rural near everything, hardly any major crime
LOL... 8:35 This "Swedish sauna" look.....they are not into sauna's 😃..It's "Finnish sauna" look 😉
As someone who lives in Sweden, I can confirm that you are entirely incorrect.
High street ( not night street)..
We wants more videos
Some of those say leasehold
It is so disgusting to see these washing machines in peoples kitchens. But one good advice is if people are going to invest for rent/investment is that you should be careful to buy too cheap/bad properties. If it is for flipping and you are capable of doing all the very expensive work yourself it might be a great deal but yet again, be careful with your wasted time. Remember your hourly including the money you could have earned elsewhere.
In the UK the default location for a washing machine is the kitchen. It was the easiest place to make space and provide plumbing when they became popular 60-70 years ago. As said in the video, many houses were built without an indoor bathroom, so they were squeezed inside as a retrofit with no space for a washing machine. Utility rooms are more common from maybe 1990's builds onwards, but it's just normal to have the machine in the kitchen. Fascinating how disgust can be so dependent on cultural norms!
Where would you put it?
@@rhysparker6504 Never, as in absolutely never in the same room as I am do have my food.
@@russellpengilley5924 I am so happy that I live in a country that does not live 70 years ago. It is not dependent on cultural norms it is pure fact.
Stay away from flat roof dormer style (from personal experience)
You can get a nice kitchen second hand off some I have too much money dick, we bought one for our small holiday bungalow.