Why people Buy Boats To Live On in London Despite the Problems

[Tracy D'arth]

Just now, MtB said:

 

I don't think it will sell.

It will sell. A disillusioned boat owner with a full loo and no water  will sell his boat to the next mug and move into the microflat. 

[Peanut]

5 minutes ago, MtB said:

 

I don't think it will sell.

Maybe to a Buy to Let landlord.

[MtB]

11 minutes ago, Peanut said:

Maybe to a Buy to Let landlord.

 

 

Particularly unlikely in my opinion. Or put it this way, I would never buy it at any price with a view to offering to market for rent. The chances of finding a reliable and financially stable tenant for such a property are approaching zero in my estimation. 

 

 

[PCSB]

1 hour ago, MtB said:

 

 

Particularly unlikely in my opinion. Or put it this way, I would never buy it at any price with a view to offering to market for rent. The chances of finding a reliable and financially stable tenant for such a property are approaching zero in my estimation. 

 

 

If I've read the advert correctly there is a tenant in it now on an existing agreement. 

[MtB]

8 minutes ago, PCSB said:

If I've read the advert correctly there is a tenant in it now on an existing agreement. 

 

 

Even worse then.

 

No competent or streetwise landlord would buy a property occupied by a tenant chosen by someone else. 

[Laurie Booth]

12 hours ago, Alan de Enfield said:

 

 

But being 'next door' to the University Hospital should give you a reasonable clientelle.

 

I asked my accountant for some investment ideas when we had sold a business - he said his best investment was Student accomodation in Lincoln.

Would your accountant come and clean the student accommodation ? 

[MtB]

5 minutes ago, Laurie Booth said:

Would your accountant come and clean the student accommodation ? 

 

 

Lol, I too thought Alan's accountant had probably never rented to students!!

 

Not that accountants tend to have much expertise in choosing shrewd investments.

[Laurie Booth]

6 minutes ago, MtB said:

 

 

Lol, I too thought Alan's accountant had probably never rented to students!!

 

Not that accountants tend to have much expertise in choosing shrewd investments.

I agree, forget accountants and solicitors for any kind of investments.

[TheBiscuits]

2 hours ago, Machpoint005 said:

There's nothing in London we haven't got in Manchester. 

 

Except Londoners.

 

Praise Be!  

 

2 minutes ago, Laurie Booth said:

I agree, forget accountants and solicitors for any kind of investments.

 

Does owning shares in BMW or Mercedes count?

 

[MtB]

2 minutes ago, TheBiscuits said:

 

Praise Be!  

 

 

Does owning shares in BMW or Mercedes count?

 

 

I very much doubt either is listed on the LSE, so no. 

 

Unless you like the currency risk and foreign tax liability on any profit...

[Alan de Enfield]

26 minutes ago, Laurie Booth said:

Would your accountant come and clean the student accommodation ? 

 

I don't understand the question ?

 

Why would he clean the rented accomodation ?

Why would he even need to ever see it ?

 

 

Why would someone who charges "£100's of pounds an hour" for his expertise, do a job he can pay someone £10 an hour to do, or, even leave it to the agency to sort out in with their fees, along with repairs, maintenance, painting etc.

 

You don't buy a dog and bark yourself.

[Victor Vectis]

2 hours ago, Peanut said:

Maybe to a Buy to Let landlord.

But buy to let is just plain evil......

 

......IMHO.

[Ange]

13 hours ago, Machpoint005 said:

 

Perhaps it is time some of the English realised that being a committed monoglot isn't such a good thing.

 

 

 

 

 

And/or xenophobic.

[Laurie Booth]

9 hours ago, Alan de Enfield said:

 

I don't understand the question ?

 

Why would he clean the rented accomodation ?

Why would he even need to ever see it ?

 

 

Why would someone who charges "£100's of pounds an hour" for his expertise, do a job he can pay someone £10 an hour to do, or, even leave it to the agency to sort out in with their fees, along with repairs, maintenance, painting etc.

 

You don't buy a dog and bark yourself.

 

9 hours ago, Alan de Enfield said:

 

I don't understand the question ?

 

Why would he clean the rented accomodation ?

Why would he even need to ever see it ?

 

 

Why would someone who charges "£100's of pounds an hour" for his expertise, do a job he can pay someone £10 an hour to do, or, even leave it to the agency to sort out in with their fees, along with repairs, maintenance, painting etc.

 

You don't buy a dog and bark yourself.

The flat would need cleaning after the student left (4-6 weeks)

I have tried getting a cleaner to clean after a student, one look and they disappear (the cleaner) never to return.

The cost of agency's to sort things out far outweighs the profit.

Please ask your accountant if he rents out to students. 

[Alan de Enfield]

1 minute ago, Laurie Booth said:

Please ask your accountant if he rents out to students. 

 

He does - he has several 'complete rows' of terraced houses that are student lets.

Looking on line it is a huge business in Lincoln and some new HUGE developments have taken place over the last few years

 

(say) 6  person properties are making about £95 per person per week, 5 person properties around £125 per person per week.

 

This is typical of his houses

 

[Hudds Lad]

10 minutes ago, Laurie Booth said:

 

The flat would need cleaning after the student left (4-6 weeks)

 

You forgot redecorate and recarpet, and if there was any sort of garden, agent orange-ing

[Laurie Booth]

15 minutes ago, Alan de Enfield said:

 

He does - he has several 'complete rows' of terraced houses that are student lets.

Looking on line it is a huge business in Lincoln and some new HUGE developments have taken place over the last few years

 

(say) 6  person properties are making about £95 per person per week, 5 person properties around £125 per person per week.

 

This is typical of his houses

 

Well, he is doing a lot better than most student let landlords, my hat off to him.

[Alan de Enfield]

5 minutes ago, Laurie Booth said:

Well, he is doing a lot better than most student let landlords, my hat off to him.

 

 

 

Lincoln University alone has ;

Students	16,425 (2019/20)
Undergraduates	14,095 (2019/20)
Postgraduates	2,330 (2019/20)

 

Add in all the other colleges of FE, training establishments etc and the market is huge.

 

 

Lincoln is a 'Booming' Student city - there have been several major builds of student accomodation the the last 5 years,

 

Some examples - this one to accommodate 1400 students.

 

 

And this one ;

18th January 2019

The large student housing project underway off Tritton Road has already ben sold by its developers in a multi-million pound deal.

Castle Square Developments (CSD) which has been investing in Lincoln since the early 1970s, sold the 469 bedroom student block next to Valentine Retail park “to a major UK institution for an undisclosed multi-million pound figure,” local agents Banks Long & Co said.

 

 

 

This is another 1300 student new-build

 

 

[Slow and Steady]

2 hours ago, Alan de Enfield said:

 

 

 

Lincoln University alone has ;

Students	16,425 (2019/20)
Undergraduates	14,095 (2019/20)
Postgraduates	2,330 (2019/20)

 

Add in all the other colleges of FE, training establishments etc and the market is huge.

 

 

Lincoln is a 'Booming' Student city - there have been several major builds of student accomodation the the last 5 years,

 

Some examples - this one to accommodate 1400 students.

 

 

And this one ;

18th January 2019

The large student housing project underway off Tritton Road has already ben sold by its developers in a multi-million pound deal.

Castle Square Developments (CSD) which has been investing in Lincoln since the early 1970s, sold the 469 bedroom student block next to Valentine Retail park “to a major UK institution for an undisclosed multi-million pound figure,” local agents Banks Long & Co said.

 

 

 

This is another 1300 student new-build

 

 

Lincoln is an odd case indeed (my home town) . I almost bought a 6 bed student house near the uni for £90K a few years back, the returns are silly. I could have refurbed it every year and still come out laughing, never mind cleaning it. The only thing that stopped me is that I don't want to live in Lincoln.

[ditchcrawler]

15 hours ago, Laurie Booth said:

I agree, forget accountants and solicitors for any kind of investments.

Are they better or worse than banks?

[MtB]

2 hours ago, ditchcrawler said:

Are they better or worse than banks?

 

About the same I'd say.

 

But for really good, sharp advice on investing do your own research and decide for yourself, rather than relying on 'advice' from banks, solicitors, accountants, IFAs or any other type of professional with a conflict of interest.

[Mike Todd]

12 minutes ago, MtB said:

 

About the same I'd say.

 

But for really good, sharp advice on investing do your own research and decide for yourself, rather than relying on 'advice' from banks, solicitors, accountants, IFAs or any other type of professional with a conflict of interest.

It is near to impossible to avoid relying to some degree on the investment skills of others. Even if you avoid the risk reductions of shared funds, almost all other opportunities will, at least in part, have some investment choices bundled therein. Even if you put your money into selected named companies, much of their profit will, sadly, come from the ability of the finance department to manage cash etc.

[MtB]

11 minutes ago, Mike Todd said:

It is near to impossible to avoid relying to some degree on the investment skills of others. Even if you avoid the risk reductions of shared funds, almost all other opportunities will, at least in part, have some investment choices bundled therein. Even if you put your money into selected named companies, much of their profit will, sadly, come from the ability of the finance department to manage cash etc.

 

This is true, but with a BIG DIFFERENCE. The finance executives are not actively offering you "investment advice", they are getting on with growing their company in such a way that the share price (hopefully) climbs, and/or they can pay shareholders a healthy annual dividend.

[Alan de Enfield]

11 minutes ago, MtB said:

 

This is true, but with a BIG DIFFERENCE. The finance executives are not actively offering you "investment advice", they are getting on with growing their company in such a way that the share price (hopefully) climbs, and/or they can pay shareholders a healthy annual dividend.

 

My Accountant was not offereing financial investment advice as he legally cannot (as he is not licenced to do so). He specifically pointed out that this was his personal experience only - it was quite telling that his second best investment was premium bonds, having the maximum amount he was getting a 'win' on every draw, sometimes just a few pounds, sometimes £100's but on average it was a good / excellent ROI.

[TheBiscuits]

3 hours ago, Alan de Enfield said:

it was quite telling that his second best investment was premium bonds, having the maximum amount he was getting a 'win' on every draw, sometimes just a few pounds, sometimes £100's but on average it was a good / excellent ROI.

 

Before or after they changed the prize odds?