where do i go for one of these "buy to let" investments ?
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410manzanilla postedit means buying a house and renting it out. So you first need to save a LARGE deposit - think 25-30% for a BTL mortgage. If you are currently renting, then you should forget about a BTL until you have bought a house which you live in - you need a higher deposit and th mortgage costs are higher for BTLs than for a house that you live in.
manzanilla
Posted on 19 March 2010 |
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272Swarbs posted
Go to an estate agent and tell them you want to buy a house to rent out. Alternatively, google "property investment uk", and you'll find lots of agencies that specialise in selling buy to let properties, often at discounts from 'market value' due to their negotiating power with sellers.
Posted on 19 March 2010 | Love 0 loves
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804MikeGG1 posted
Referring to your other questions as well, you should start to buy your own home first, then start equity investment to diversify your investment portfolio which would include your own home and then start to consider property investment other than your own home.
Don't put all your eggs in the property basket.
Mike
Posted on 19 March 2010 | Love 0 loves
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2devallon posted
Buy to let investing is not paved with gold! You need to really understand your local market are well, or you could be buying in the shade of a prison as in another post on this board.
I would always study local market, get to know where sells and where doesn't find out relative values area - x council houses are often lower value that same spec houses in private areas. Buy when you are confident, don't buy blind (without viewing), buy in your own area, and ask local agents lots and lots of questions. Join NLA and go to their meetings, and ask lots of questions ! Knowledge is power in property.
My first purchase has never made money and covers the funding , just at a 5% return. My latest property returns 17% (HMO student let), so there are opportunities, but it takes hard work. And is a lot of fun in my experience !
Good luck
Bill
Posted on 23 September 2010 | Love 0 loves
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