Jimmy Mack

Registered with Property118.com
Monday 20th April 2015


Latest Comments

Total Number of Property118 Comments: 2

Jimmy Mack

14:52 PM, 21st February 2016, About 6 years ago

I can recoup capital cost in 3 years on 23 year lease purchase?

Reply to the comment left by "Adrian Jones" at "18/02/2016 - 17:13":

It is Adrian. I understand theres a good chance this could go well over the guide in which case I wouldn't be bidding.... Read More

Jimmy Mack

16:03 PM, 18th February 2016, About 6 years ago

I can recoup capital cost in 3 years on 23 year lease purchase?

Thank you for all your comments and advice. The property is the ground floor flat of a 2 storey house conversion. I will have to check but would imagine that any ground rent and service charge would be minimal and it sounds as though trying to buy a share of the freehold would be a better option than extending the lease if freeholder was open to the idea. Initially, I thought to buy the property with cash and let the lease run out. I worked out if I was to up the rent 2% year on year it would return over £294,000 over the 23 years. I am looking for cashflow at the minute and am happy to put £30k down as I would have earnt it back in about 3 and half years. Just wasn't sure if there was something I'm missing as its quite as unusual situation, for me at least.... Read More