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/biz/ - Business & Finance

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3600760 No.3600760 [Reply] [Original]

Not even larping

I'm considering buying a large 6 bedroom house close to a university and renting it out to fellow neets in Scotland/uk

En suite in every room albeit the rooms themselves would be shoe boxes

Split the rent as follows

Each occupied room would pay 23% of the mortgage thus ensuring a profit at maximum occupancy and break even at 4/5, manageable financially at 3/5 occupancy - id obviously use the other room

Living area would effectively be converted into a trading room. You can use your fucking bedroom to watch normieflix and MLP

Even if I can't fill it with crypto people I could rent it to college folk

Mortgage of 280k


Estimate £1900 mortgage

Would require £380 per month before utilities

That is cheap as fuck

Can anyone tell me a reason this wouldn't work as long as I could make the repayments

Who would be willing to relocate to glasgow to live with me?

What issues could arise

>> No.3600770

>>3600760
I'd unironically move in

>> No.3600780

>>3600760
$90 per week and I have to live in a shoebox with normies?
No thanks.
I bet you've got single beds and don't even have desks

>> No.3600792
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3600792

>>3600760
do we all get split ownership of the property ?

>> No.3600809

>>3600760
Do this in Philadelphia, USA and I'm in

>> No.3600810

>>3600792
Are you a fucking communist?
You sound like one
Suicide

>> No.3600820

>>3600792
No

>> No.3600828

>>3600780
Could scrap the en suite then and you can share a bathroom with 5 other anons

Your choice

>> No.3600829

>>3600760
>what issues could arise

As someone who lived with friends for a year.
The thing that annoyed me was people not cleaning properly, or just not clean at all.

>> No.3600839

>>3600760
Why glasgow?

Why not have it on the isle of man?
And, instead of you buying the house, all 6 of us chip in and buy it without a mortgage and own it as a corporation.

>> No.3600843

Link related

Hey - Check out this property I found via the Zoopla App -
http://www.zoopla.co.uk/for-sale/details/43609089

>> No.3600853

>>3600829
Hence the no communal living area

Your room is your domain

Kitchen and bathroom something could be sorted

£5 each a week for a cleaner isn't much

>> No.3600858

>>3600839
Elaborate on that

You'd need the full capital which I don't have

>> No.3600904

>>3600760
finally a post worth reading.
i dont think that all students would want a trading room in the middle of the house, consider the types you want as your tenants and appeal to them. certain groups of students will cause more property damage/noise complaints/overall headache than others. more broadly speaking, a house is a living space but should accomodate students. if youre specifically renting to 'day traders', you may be able to charge more for rent as it is 'specialty housing' with space designated for their needs. as far as your numbers on cashflow go, i don't know anything about your area, but i have to trust that you and others on this board do.

remember to set aside money for repairs and maintenance!
good luck anon, you seem bright. i hope you follow through with it!

>> No.3600957
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3600957

>>3600760
it'll just end up full of rapefugees. Enjoy sucking Muhammad's cock, OP!

>> No.3601100

>Getting NEETs to pay rent monthly
Sounds like a great idea, OP. And in the shittiest dive in the UK, no less.

>> No.3601107

>>3600760
students trash and damage the place.... it cost a fortune in maintenance.

also you forgot stamp duty and council tax

>> No.3601231

>>3601107
Protip: students in Scotland don't pay council tax

>> No.3601277

>>3600760
Some famous "gaming youtubers" did this a few years ago and I could see this working.

BONUS: Turn the entire basement into a BTC / LTC mining rig and have it run 24/7. Split the reward between the members living in the house at the end of the week.

>> No.3601298

>>3600853
yeah we had a cleaner, he kinda sucked tho.

But other problems can arise, look i'm not hard to live with.
My friend had no job or education so he was bothering us at night by being awake and active.
So my other friend left after half a year or so.

But he also did other annoying stuff, like instead of properly twisting the lid on drinks and stuff he would just lay them on top.

So if you're not careful you will spill the drink or it will simply go bad sooner.

I could never understand that.

You might think i am overreacting but when you live among other people you will understand.

>> No.3601400

Anon I'm flying to Glasgow next week hit me up we'll go check out prospects n shit
I bought my place a year ago I have experience man

>> No.3601419

Enjoy having literal shit all over your walls and for some chick to accuse you of rape and then someone to die of a fucking frog anaesthetic overdose.

>> No.3601460

What about taxes and shit? You won't be able to pay this off in 20 years bruh

>> No.3601489

>>3600760

You're not going to get these worthless NEETs to pay you anything. Fucking retard.

>> No.3601492

>>3601489
thats why you screen applicants first

>> No.3601881

>>3600792
do you not know what renting is?

>> No.3601901

>>3600760
house is going to turn into a crack den.

>> No.3601915

>>3600760
Hey Scottish bro, where abouts are you? Glasgow fag reporting in.

>> No.3601951

>>3601915
Greenock to be precise

>> No.3601966

>>3601951
Do you go to uni in Glasgow?

>> No.3601981

>>3600760
Ideally, you would make more off of rent. Since, you will be living there you will want to break even with more than one vacancy.

Cost of living will likely be lower than renting but you will have to manage the property. Your tenants will be college kids and peers so it may be difficult to collect rent.