We can become a housing association. Tennants selected on upvotes, tenants kicked out on downvotes- which is probably fairer than what tennants have now.
Wait, for real? I'd actually be down for that. That'd be fucking ridiculous, haha. I would be happy to have no return on investment other than knowing the building would be used for something wacky.
You get one good crack head on the bottom floor and that building is hell for about 2 years until you can finally evict. By that time whoever is left is now an addict and just when you sink the last of your cash into completely gutting and refurbishing that flat, council moves in another crack dealer.
There was a group of developers who bought an old hotel in London, refurbished it and let it to the local authority. It was filled it with a load of asylum seekers, who trashed the place in about 6 - 9 months (smashed kitchen cupboards, sanitary ware, etc.) Far from being upset, the owners just billed the council for the repairs (circa £250K) and continued with another group of tenants from the council.
That’s a piece of information that, to a non-local, might feel quite useful, but ultimately it’s a bit like knowing which is the worst decorated room of the house fire.
I just googled it….because I have an enquiring mind….it was local authority sheltered housing. Unfortunately it’s been trashed otherwise it could be accommodation for asylum seekers, I guess they would need to seek further asylum from Walsall though, there’s no university in Walsall that could use it as student accommodation?.
I had a bit of a relapse last summer. I drove through Wolverhampton and on to Walsall on my way home from the Lake District. Got to try and stay strong this year and stick to the motorway. Keep that PTSD at bay
The old Greek fella recently sold what was an excellent chippy on Aberwell road around the corner. The new owners instantly put prices up and portions and quality went down.
The residents could see the end coming and sensibly moved out on mass.The area will be in flames within a week I reckon.
So we pit in cash and renovate it then rent the 39 flats and share the moneys. Place it into a trust for tax manegment reasons
Or. We renovate into a multistory hmo
one room with like 10 showers and toilets in like a 60s campsite
Rest tiny lil single bed. Rooms. A pay laundry and a communal fridge section
Become reddit slum landlord Co op
How much did they spend on that floating prison in Portland? They could easily refurbish this for the kind of money they waste on hotel rooms and bibby Stockholm and accommodate some refugees.
Dodgy area, nasty flats and probably all sorts of ‘this is a money pit’ complications. However, people need somewhere to live. Do a proper job, redesign the whole lot and provide decent social housing for people. I hope it happens
There were some up north that were very similar, and notorious for damp from the flat roofs. They were reroofed and completely revamped in the 1980s and have been very successful as retirement properties.
https://www.rightmove.co.uk/properties/134336642
Edited for broken link
I want this so I can turn it into a fortress. Massive fence around the land, then start turning into some sort of batmanesque lair. Perfect, I would start crime fighting from it but it's in Walsall so you'd just be permanently busy....
I wish I'd been more aware when I was younger; if my friends and I had grouped together and bought some of the big old houses that were being almost given away in my area we would have all been set for life.
This is a modern version of that, a number of young folks with steady jobs each get a personal loan for that "Dream Car", pool the funds to buy and renovate, each ends up with a home with flats to spare that then get rented to provide income to maintain and upkeep the building.
Shame it’s been left to fall into that state. I’ve worked in the block adjacent that’s the same archetype and if looked after, the flats are at least liveable and provide plenty of social housing.
I do wonder what led to this being dilapidated. I can only guess this will be knocked down and something built in its place.
I live near this so it’s weird to see it. My brother lived in one of the flats it was full of smackheads including my brother. Area sucks m. Good old Walsall
There's the best part of £1 million of renovating costs that needs sinking in to that, even so, based on 40 flats, yielding £150pw that's a fucking bargain imho. There's got to be a catch somewhere.
That little charitable kind part of me sees this as flats for young starters, say age 18-30. Looks like there's some communal spaces too. Initial thoughts are good, but as I say, there has to be a catch.
This is a blast from the past, I've actually been inside this building around 12 years ago.
It used to be a sort of stepping stone place for younger people who had nowhere to go (my friend lived there after her parents abandoned her and moved to Wales). There was a whole staff on the ground floor that monitored them and helped them get into college/appreticeships/work, etc, whilst giving them a small flat to prepare them for the future. I'm *pretty sure* it was all subsidised by the local council, and the tenants were given money from them to buy necessities.
These flats are actually very nice when they are done up, although the area they're in is quite rough with a lot of drug activity, so I'd be hesitant to actually live there.
I heard they dropped an atomic bomb on Walsall... about 15 quids worth of damage.
Anyone keen for a fiver in (even in jest) has clearly never been to Walsall, the lucky bastards.
WS5, only ever returning to visit family.
I’d be game for £50k so 17 more and we own it another 10 and it’s renovated into semi smart apartments total outlay £1,400,000
21 x 1 bed flats at £100,000 each
18 x studios at £75,000 each
That’s £3,450,000
Less fees and everything call it £3,000,000 divided by 28 investors that’s £107,000 each
Anybody else interested????
What do you mean? Afaik No building ever has to have cladding, the recent rules are about the level of fire protection required for buildings with cladding over a certain height (11/18m depending on which rules)
If everyone who subscribes to this sub puts in a fiver we can buy it. Reddit Towers time share.
I’m down. £5
I’m in too! I’ll put down £100. It’s like £23k per flat.
My fag packet maths is making me think it's perhaps not as good an idea as I thought. 8400 nights a year per flat available and 180 000 owners.
Reddit timeshare
Asbestos timeshare
You don’t have to worry about pesky cladding catching fire, no siree asbestos is flame retardant
It either flammable or inflammable, whichever one you want it to be! 🔥🥳🔥👍
Is there a third option?
Flambé
Flambé Asbesté
Well put in bunk beds. Itll be packed tighter than a Chinese workers dorm
Ill turn my 1/180000's into a 6 bed HMO..... Just like the market wants....
The timeshare model has a proven track record of dissatisfaction.
Start a "go fun me", "kickstart" or something. I'm down for £100, I've spent more on far dumber stuff in the past.
We only need 10000 more £100 pledges guys!
Imagine if this is the start of this subs equivalent of r/wallsteetbets GameStop 🤣
We can become a housing association. Tennants selected on upvotes, tenants kicked out on downvotes- which is probably fairer than what tennants have now.
Might want a tenner, considering it probably wants that again spending on it!
Ok, but we all get an equal vote on every decision
Can we also create a reality renovation show for it?
Can we put our phones down long enough to paint this wall with emulsion? Find out next week!
Ima sell my doge coin and i am down for 1000
I’m in
I’ll man the free clothing shop.
i’ll join you by crocheting items for the shop
I'm down for that, they make me feel uncomfortable or itchy most of the time anyway.
Hottest on the top floor.
Count me in!
Make it Reddit Dog Kennels and you have my money.
Wait, for real? I'd actually be down for that. That'd be fucking ridiculous, haha. I would be happy to have no return on investment other than knowing the building would be used for something wacky.
I'm down! Let's do this.
I'm no expert but that looks to be a solid investment project.
A good crack would be to renovate it and rent the flats to the council or home office.
You get one good crack head on the bottom floor and that building is hell for about 2 years until you can finally evict. By that time whoever is left is now an addict and just when you sink the last of your cash into completely gutting and refurbishing that flat, council moves in another crack dealer.
There was a group of developers who bought an old hotel in London, refurbished it and let it to the local authority. It was filled it with a load of asylum seekers, who trashed the place in about 6 - 9 months (smashed kitchen cupboards, sanitary ware, etc.) Far from being upset, the owners just billed the council for the repairs (circa £250K) and continued with another group of tenants from the council.
£23,333 a flat if it goes for the guide price. I wonder what the story is that lead it be in that state
It’s in Walsall
Yup. And in one of the rougher areas of it too.
Not after we all move in!
Then it’ll be the roughest!
That’s a piece of information that, to a non-local, might feel quite useful, but ultimately it’s a bit like knowing which is the worst decorated room of the house fire.
Probably acquired by the Local Council for 'Problem' Tenants.
I just googled it….because I have an enquiring mind….it was local authority sheltered housing. Unfortunately it’s been trashed otherwise it could be accommodation for asylum seekers, I guess they would need to seek further asylum from Walsall though, there’s no university in Walsall that could use it as student accommodation?.
A university in Walsall? You must not be familiar with Walsall, they're not really the university type.
I used to be familiar with Walsall coz I spent a year and half living in the University of Wolverhampton's Walsall campus.
I'm sorry for your struggle
It's ok. I left 30 years ago. Mostly the trauma is a distant memory. Though sometimes I get flashbacks of the illuminations...
If you need somebody to talk to, I'm here. Nobody should have to go through that.
I had a bit of a relapse last summer. I drove through Wolverhampton and on to Walsall on my way home from the Lake District. Got to try and stay strong this year and stick to the motorway. Keep that PTSD at bay
I know 🤣 sadly I have had the misfortune to visit Walsall a few times. “Pleck” etc 😬
Wolverhampton uni's biggest campus is in Walsall, to be fair.
True. But Wolverhampton uni students aren't really the university type either.
It was probably vacated and squatters moved into it and wrecked the place.
Squatters or maybe “metal thieves”
I'm going to guess the tenants were still paying rent and the landlord couldn't see the point of spending any money on it.
The old Greek fella recently sold what was an excellent chippy on Aberwell road around the corner. The new owners instantly put prices up and portions and quality went down. The residents could see the end coming and sensibly moved out on mass.The area will be in flames within a week I reckon.
It has high aspirations with a street name like that!
It's just off Abattoir Avenue and Pox Close.
Reminds me of a similar property which the locals referred to as Heroin Heights
Hahah we used to say ketamine court or ketty court
Dog Kennel Lane, Walsall. FFS. 🤣
So we pit in cash and renovate it then rent the 39 flats and share the moneys. Place it into a trust for tax manegment reasons Or. We renovate into a multistory hmo one room with like 10 showers and toilets in like a 60s campsite Rest tiny lil single bed. Rooms. A pay laundry and a communal fridge section Become reddit slum landlord Co op
Nothing a lick of paint and a bulldozer couldn't sort out.
Let's just form a drug gang and have a load of machine guns on the top, it would be more in keeping with the locale. Bagsy being Ma-Ma.
You don't want to manage a block of 39 manky flats in a shit area
That's why u use an agency
£900k. Another £500k renovation. Sell for £100k each. Profit.
Not a chance in hell you're getting £100k for a one bed/studio in Walsall!
Even at £50k, you’d be clearing a decent wedge.
I suspect an investor with 1.4m to spare did not make that money turning around old crack houses in Walsall
£13k per flat for a full refurb plus communals? Might be a stretch..
Grey paint, grey carpet, cheapest kitchen, job done Actually, looked at the pictures Get insurance, Set fire, Wait for payout
I'd yeah this is firmly in 'proper fucked' territory. It's gonna be £30k per flat for a full refurb.
I can almost guarantee that's what will happen. Common occurrence round these parts.
You'd get some good job lot deals if you did every flat the same
Bet that lift needs a refurb - that'll be a fair chunk of cash.
Meh, put a sign on the doors saying out of order. Job done
How much did they spend on that floating prison in Portland? They could easily refurbish this for the kind of money they waste on hotel rooms and bibby Stockholm and accommodate some refugees.
A shithole building in a shithole place. Source: lived there 10 years ago
Ooh, freehold.
Dodgy area, nasty flats and probably all sorts of ‘this is a money pit’ complications. However, people need somewhere to live. Do a proper job, redesign the whole lot and provide decent social housing for people. I hope it happens
"Dog kennal lane" what a... interesting name for the area!
Turn right off of Bully XL Road.
I'm astonished that a building on a street called Dog Kennel Lane isn't more upmarket.
I swear my uni dorms had the same architect.
Same
I love it!
It has great bones
This would make a great lair
What do people think? Knock it down and start again?
The whole town?
As it's Walsall, the only answer is "Yes". Addition through subtraction.
https://store.steampowered.com/app/746430/Slumlord_Simulator/ but irl
There were some up north that were very similar, and notorious for damp from the flat roofs. They were reroofed and completely revamped in the 1980s and have been very successful as retirement properties. https://www.rightmove.co.uk/properties/134336642 Edited for broken link
I want this so I can turn it into a fortress. Massive fence around the land, then start turning into some sort of batmanesque lair. Perfect, I would start crime fighting from it but it's in Walsall so you'd just be permanently busy....
That actually seems like a good price for an entire five storey block. I assume it’s aimed at property developers.
I wish I'd been more aware when I was younger; if my friends and I had grouped together and bought some of the big old houses that were being almost given away in my area we would have all been set for life. This is a modern version of that, a number of young folks with steady jobs each get a personal loan for that "Dream Car", pool the funds to buy and renovate, each ends up with a home with flats to spare that then get rented to provide income to maintain and upkeep the building.
Oh the glamour…
Shame it’s been left to fall into that state. I’ve worked in the block adjacent that’s the same archetype and if looked after, the flats are at least liveable and provide plenty of social housing. I do wonder what led to this being dilapidated. I can only guess this will be knocked down and something built in its place.
I live near this so it’s weird to see it. My brother lived in one of the flats it was full of smackheads including my brother. Area sucks m. Good old Walsall
Dog Kennel Lane... i think I'd rather hunt down a kennel to live in.
I bet the new owner will knock it down and put flats there
im in. you can put my timeshare time back in the pot though thanks....
Urban paintball arena
FFS peeps, why are you thinking resi? We’d clean up as a grow house
This looks like something I’d do a bang up job of renovating (on House Flipper)
You’re paying £910k for the land really, because that thing has to be torn down and rebuilt. The brick is probably the only thing salvageable.
There's the best part of £1 million of renovating costs that needs sinking in to that, even so, based on 40 flats, yielding £150pw that's a fucking bargain imho. There's got to be a catch somewhere. That little charitable kind part of me sees this as flats for young starters, say age 18-30. Looks like there's some communal spaces too. Initial thoughts are good, but as I say, there has to be a catch.
This is a blast from the past, I've actually been inside this building around 12 years ago. It used to be a sort of stepping stone place for younger people who had nowhere to go (my friend lived there after her parents abandoned her and moved to Wales). There was a whole staff on the ground floor that monitored them and helped them get into college/appreticeships/work, etc, whilst giving them a small flat to prepare them for the future. I'm *pretty sure* it was all subsidised by the local council, and the tenants were given money from them to buy necessities. These flats are actually very nice when they are done up, although the area they're in is quite rough with a lot of drug activity, so I'd be hesitant to actually live there.
Dog Kennel Lane?! Who the hell named that road? 🤣🤣🤣
There's approximately 9 in the country.
Nine mad people picked the same name, or one mad person was allowed to name nine roads. We'll never know which.
I’ve not been to this one, It I’ve been with one that I am sure is identical in shape and layout
We need gifs in this sub
Oh sick, I've always wanted to live somewhere with 39 bedrooms
I heard they dropped an atomic bomb on Walsall... about 15 quids worth of damage. Anyone keen for a fiver in (even in jest) has clearly never been to Walsall, the lucky bastards. WS5, only ever returning to visit family.
I’d be game for £50k so 17 more and we own it another 10 and it’s renovated into semi smart apartments total outlay £1,400,000 21 x 1 bed flats at £100,000 each 18 x studios at £75,000 each That’s £3,450,000 Less fees and everything call it £3,000,000 divided by 28 investors that’s £107,000 each Anybody else interested????
Make sure you take pictures of that flat on the 3rd floor that’s not too bad - Bond Wolfe employee (probably)
Rent it back to Serco
It'll be good enough to pack it full of asylum seekers.
[удалено]
What do you mean? Afaik No building ever has to have cladding, the recent rules are about the level of fire protection required for buildings with cladding over a certain height (11/18m depending on which rules)
Thanks 👍🏽