andy peers

Registered with Property118.com
Thursday 12th March 2015


Latest Comments

Total Number of Property118 Comments: 5

andy peers

15:55 PM, 16th March 2015, About 7 years ago

BTL South Norwood?

S Norwood would be higher yield if you HMO'd it up. you can also extend for extra rooms.

Norwood is one of those areas that historically has been cheaper than others around but now has had much regeneration as well as increase in value. I'm not sure how yields would compare ex la flat zone 2-3 vs house in S.Norwood. you're getting tenants in both circumstances that are looking for cheap rent vs other locations/properties. I'm sure they'd be sufficient demand in either location as London outskirts are still a high demand area.

regards Andrew.

ps highest yield would be ex council flat/house in S.Norwood.... Read More

andy peers

12:09 PM, 12th March 2015, About 7 years ago

Introducing Repolist

Hi Mark - do you have a service that connects sourcing agents to buyers - I've been sourcing property for 15yrs now for clients - auctions, repo's, refurbs, forced sales, planning gains etc and it would be good to potentially network with you and or others on this site somehow. Is their a structure to be able to do this here at cost or otherwise?

regards Andrew Peers... Read More

andy peers

11:42 AM, 12th March 2015, About 7 years ago

How to protect my unencumbered properties?

Hi all, because rates as so low and now have been for some time - if rates rose to 10% property not only would circa 30-50% of the population not be able to afford their mortgages, prices would probably fall by circa 50% in value and a huge crash would occur accross the country. No government would want this so they will try to avoid this at all costs. In reality in means this situation is unlikely to occur and if it did it could be over 10yrs so people could slowly adjust and make plans to cope.

The obvious solution is because its so unlikely to occur - the odds would probably be over 100 to 1 - you could simply take out and insurance (hedge against the risk). if rates do go up that high you get a 100-200k payout which will see you through - might only cost you £5-10 pm or so. You can always insure against a very unlikely event.

I've seen asset strippers deliberately do this type of thing - gear up massively on some assets (property or otherwise), legally separate or similar the assets of value (reduce the debt on those assets). let the non profit assets get go under and creditors lose out (banks with mortgages over 100% of value), and make more on the other assets they keep - personally I don't morally like it but seen it all too often.

I don't think Tony is in this situation or wants to do this type of thing just insure best he can against a worst case scenario. I'm sure its possible without the moral dilema you might just need to do exactly that though - pay a very small amount for insurance - or so what others have suggested - sell some and reduce gearing further accross the portfolio.

regards Andrew... Read More

andy peers

11:02 AM, 12th March 2015, About 7 years ago

Rent-by-the-room Agents - do any exist in NW1?

There's a good offer!

there's three parts to this :

1) finding the tenants - flatshare, rentaroom, spareroom, studentaccomodarions - there's loads of websites out their that help match tenants to landlords. local press of course too.

2) having a viewing and vetting agent if you can't do this yourself.

3) long term management and maintanence, replacing tenants as and when.

google room / HMO letting agents - and the area and several should pop up

blackatz used to work this market in most parts of london.

good luck in your quest, regards Andrew Peers... Read More

andy peers

10:56 AM, 12th March 2015, About 7 years ago

Advice on selling a tenanted property?

Hi All - my first post having just joined - I have both bought and sold tenanted property before. It's nice to have rent coming in from day one especially if you are inheriting good rent paying tenants that want to stay a while. Its hard to get a premium selling tenanted property unless its either commercial or the rent is being maximised by room letting or you've negoitated a high rental (and the tenants have kept and continue to keep the property in good appearance for viewings - often the hardest part). In order for tenants to do this its often an idea to offer an incentive for them to do so - bonus if it sells etc, even a token gesture per viewing (if agent says thats its in good viewing order).

Anyway - good luck in your endevours.

regards Andrew... Read More