The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Hi Hardup, the judicial review concluded that the banker depositor relationship was that of debtor and creditor. i would look it up in my LRB book but i cannot find it
Foley vs Hill 1848
House of Lords!
Axe i think you mean rbs not bos (hbos)
Last warning before what? Why not just filter instead? Or do you think you own the board now?
Just Saying......
Hi sam, misread your post, must av been the vinho... i dont believe you can find out who upticks a post. Apologies for last post to you.
Sam, but if course it does, dont be so bloodee pathetic! Go to bed until you grow up... silly boy
Thats why you have a filter button sam
Maybe the Bod have been hooked on watching homes under the hammer rather than running LBG
I reckon the figures posted by citra look very ambitios. I remain unconvinced by this move into rental property. I own a few Lloy shares, i will not be selling but nor will i be adding to. GLA
Diss, yet only this morning you said no one ever makes money from real estste?
I fully agree stagecoach. Thats the point i was trying to show through my guestimates
So Disinform, what do you think they will be paying? Mine was only a guess based on citras own release, whats yours?
Yes i know. Citra are estimating 10000 properties might give them a balance sheet value of up to 4bln. I have used a lower figure of 3.5bln for the 10k
So, the bank is going to buy/ build 50000 rental houses over the next 10 years. What might that look like.
Well 50000 houses at say a national average cost at todays price of say £350000 would cost £17.5 billion over 10 years. £1.75 billion a year. A rent roll average of £1500 per property per month would give gross income of £900 million a year, a yield of just over 5% less voids and arrears of say 10% gives gross income of around £800 million. The cost of running the portfolio and repairs needs to come out of this, but working on a 50% cost income ratio the inv of 17.5 billion could achieve a return of £400 million p.a. after 10 years, and i guess a sliding scale up to that figure over the next to years.
Raw figures and guesswork i know, and no account of movement in property prices.
Will it all be worth it?
I agree, my market would not suit Lloyds. I just think this will be a very long burn for lloy. I am sure its been well costed out, but then again so was the Black Horse agencies debacle some 25 to 30 years ago. Lloy made many estate agency patners very rich at the expense of ...... the shareholders. Again!
Profits from lettings are never a gimme, especially at the med to top end. Yields are thin and profits come from long term rises in property values. So it is important to buy at the right time, not after a sharp rise. Been in property a lot of years 85% of my stock is 2up 2down, rented to housing associations on 3 or 5 year leases. Yields of 9 to 11 % gross. Works well for me and if there is a problem tenant then it is the associations problem, not mine. I would not wish to be investing in any other sector of the property market just now. Timescales too long, still i guess lloy shateholders are used to waiting! I cerainly am!
Hi Asp, surely you meant to blame "former shareholders" as they have now sold. Hehe
Sure is smells just the same@
LIar!! Just jog on bye