澳洲Australia property Anyone want to make an offer on a 3b poun


在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m


Check out http://www.dailymail.co.uk/news/art...ycoon-raise-3bn-selling-250-000-UK-homes.html

2B pounds of debt..............WOW!.

F  

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maybe he is now buying in the USA?  

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How on earth does he service a £3B portfolio on an LVR of 66%  

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By defrauding banks.  

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eggnog said: ↑
How on earth does he service a £3B portfolio on an LVR of 66%Click to expand...
In some countries, properties have yields you know :p  

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lucky they aren't in South Australia, the land tax bill would send him broke  

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Most British apartments are sold on a long lease, commonly for 100 years or so (particularly by the big estates), but sometimes for 999 years.

Generally the leaseholders will pay the freeholder a ground rent, which is typically pretty small, and in the long term the property will revert to the freeholder's ownership. As a consequence the freehold isn't worth a huge amount compared to the leased property that sits on it.

Here is an example of a one for sale. And it's precisely this sort of thing that Vincent Tchenguiz is selling.

The UK doesn't have a land tax, and property taxes are borne by the occupier, so he's not getting mugged for that. :D  

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Graemsay said: ↑
Most British apartments are sold on a long lease, commonly for 100 years or so (particularly by the big estates), but sometimes for 999 years.

Generally the leaseholders will pay the freeholder a ground rent, which is typically pretty small, and in the long term the property will revert to the freeholder's ownership. As a consequence the freehold isn't worth a huge amount compared to the leased property that sits on it.

Here is an example of a one for sale. And it's precisely this sort of thing that Vincent Tchenguiz is selling.

The UK doesn't have a land tax, and property taxes are borne by the occupier, so he's not getting mugged for that. :DClick to expand...
Funny :D

I had a mental picture of the taxman picking somebody's pocket to get their wages and then mugging them down the road for the remainder ;)  

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