Hi everyone,
Just wanted to know everyones idea about buying in housing commision area eg ministry of housing homes, One of the areas I have been researching in, has quiet a lot of commision houses, you might find a lovely home in one street, but 2 streets away there will be an area of commision homes, I have notices that some of the homes in these commision areas if brought you could add value and increase the rent, this in fact would turn them into positive cash flow
1. What are peoples views?
2.Would you buy in these areas?
3.Do you need to worry about the area if it turns out that it is cash flow positive?I know when steve and dave first started they brought in a so called rough area
regards[biggrin]
P.Stickels
I purchased a house in a commission area and would say that solid concrete houses are quite tenant proof. I had a house abandoned and vandals broke in so the front door needed repair and the excrement needed to be cleaned and a paint job was needed but the structure of solid concrete and iron roof struts makes the houses almost tentant damage proof. if you increase rent the battlers of the area cannot then afford your house
Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
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