Our episode about 5 property investments to avoid sparked a discussion online where people chipped in with others of their own. So we thought we’d round up another 20 suggestions for investments to steer clear of.
This is the thread on Property Tribes where you can read about all of these, and plenty more we couldn’t fit in.
- Property in an area that is over-saturated with investors.
- The best house in the worse street.
- A property you have never viewed.
- Off plan property from a developer with no track record of completions.
- Flats with very high service charges.
- Property down wind of a sewage farm.
- Property close to noisy depot/factory.
- Property with subsidence.
- Property in flood area. (Rob B mentioned this link
- A property deal where the gross price is put on the mortgage application, but you are paying the net price = mortgage fraud.
- A property deal where you HAVE to use the deal sourcer’s broker and solicitor.
- A property deal that promises unrealistic returns.
- A property deal where someone was getting a huge commission.
- A property deal with no clear exit strategy.
- Any property deal where you are put under excessive pressure by a third party to go ahead with it.
- Any property deal where your gut instinct tells you it is wrong.
- Properties close to fracking sites.
- A leasehold property where the unexpired term is less than 75 years.
- Any property that is puchased for less that 25% LTV.
- Properties that are bought in areas where DSS tenants make up the majority of lets.
Thank you to Vanessa Warwick from Property Tribes for her great suggestions, and to Graham Clark for starting the discussion!
Resource of the week
This week’s resource is Fitocracy – a website and app for iPhone and Android that helps you track your workouts.
More than that though, you can choose “Quests” to mix up your routines and push yourself a bit harder, and you can join groups who’re trying to reach certain goals. Give it a try!
We also updated you on our experiences with Focus@Will, which we’re both now using and seem to be getting results with.
This week’s news
London’s only property under £100,000 is on sale – and what a belter it is too.
So good in fact that even the estate agent called it “horrendous”, and the only selling point they could come up with was that “it’s easy to get a seat on the tube in the morning because it’s at the end of the line”.
But then, to make it look like more of a bargain, it is only 1/3 the cost of a £300,000 parking space that was put on sale in London earlier this month. Madness.
Mentions this week
All the talk this week was about our London meetup – thank you to everyone who came! We officially have awesome listeners.
We also put out a call for your questions! If you’ve got anything you’d like to ask us for our special episode in a couple of weeks, use the orange “Leave a message” button on the left to record a voicemail for us.
Tell us what you thought of the show!
What do you think of the investments we’ve suggested you avoid?
Are there any others you’d add to the list?
Just let us know by leaving a comment below!
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