Tom321 Posted January 13, 2015 Share Posted January 13, 2015 Good afternoon All, First post so go easy. I am seriously considering the possibility of buying a property to let - as an investments for the future. I have absolutely no experience in this area. I have done plenty of reading up on the subject but what I would really like to hear are the experiences and tips etc of people who have done it before. Anything you wish to share, no matter how big or small would be great. Thank you!! Quote Link to comment Share on other sites More sharing options...
righttoleech Posted January 13, 2015 Share Posted January 13, 2015 Are you like a first time visitor to Rio who has just strayed into a dangerous favela? Or is this a wind-up? Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted January 13, 2015 Share Posted January 13, 2015 You should buy a bridge because that's where trolls live. Quote Link to comment Share on other sites More sharing options...
long time lurking Posted January 13, 2015 Share Posted January 13, 2015 Good place to start would be hear http://forums.moneysavingexpert.com/showthread.php?t=5142953 plenty of advice and real life experience over there on that thread Quote Link to comment Share on other sites More sharing options...
renting til I die Posted January 13, 2015 Share Posted January 13, 2015 You couldn't have picked a better forum to ask advice about this, we love buy to let landlords here, and as you well know it is the only guaranteed way of becoming a multimillionaire! I myself have only a little experience in the moneymaking potential of buy to let, in that, I'm paying great deal of my income to my landlord every month. But that merely confirms that it is guaranteed, 'Ching Ching'! This fella here seems to know his stuff though; http://www.landlordexpert.co.uk/, hope it helps and good luck in your endeavours!.........and please continue to post here on a weekly basis informing us on your progress and how well you're doing! Quote Link to comment Share on other sites More sharing options...
Tom321 Posted January 13, 2015 Author Share Posted January 13, 2015 Thank you for the suggestion 'long time lurking'. Nice name too btw 'renting til I die' you sound like the perfect tenant Seriously though, I was renting property until I was in my mid 30's. I thought I would never be able to buy. But thankfully now I am near retirement age and there's not many places I trust putting my money these days. Despite the property price crashes of recent, it still seems like one of the safest options. I don't fancy the idea of working til I die!! Quote Link to comment Share on other sites More sharing options...
renting til I die Posted January 13, 2015 Share Posted January 13, 2015 Good place to start would be hear http://forums.moneysavingexpert.com/showthread.php?t=5142953 plenty of advice and real life experience over there on that thread From the tread I'm just letting you know this so you are forewarned...if you ever rent out again you must protect the deposit and give these awful tenants the paperwork up front. You can also give them a set six month AST to avoid a long contract and assure them that it will lapse onto periodic, so if they are appalling, it's faster to get them out. Are they calling all tenants awful!? Some landlords show real disdain for their tenants. It seems like they're not trying to provide a service at all! Quote Link to comment Share on other sites More sharing options...
renting til I die Posted January 13, 2015 Share Posted January 13, 2015 'renting til I die' you sound like the perfect tenant I am If I could just find my perfect landlord...... Quote Link to comment Share on other sites More sharing options...
Tom321 Posted January 13, 2015 Author Share Posted January 13, 2015 Sounds like they must have had a really bad experience. I was a tenant once upon a time - and hopefully a good tenant! I think the only issue we ever caused was when my wife slipped in the shower one day and cracked the shower screen. I spoke to the Landlord and they were mostly concerned if my wife was ok. When we got down to the nitty gritty of it, the Landlord said he had been thinking of putting a better screen in anyway, he put a better screen in and we split the cost 50/50. He was happy, I was happy. Sounds like things have changed a lot since then... :/ Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted January 13, 2015 Share Posted January 13, 2015 Like the last guy who came here asking about Buy to let, all I ask is that you post up your business plan for us to comment on. If you don;t have one then you should and it will include mortgage interest, buildings insurance, rent insurance, repairs, voids etc. It would be interesting to see. BTL could be well worth doing if you're renting out slums from an all cash investment and charging the right expenses to your accounts. Quote Link to comment Share on other sites More sharing options...
Tom321 Posted January 13, 2015 Author Share Posted January 13, 2015 Thanks Wurzel. I will certainly do so when I have the final plan ready. Thank you for taking an interest. Do you have a link to the previous person who asked about buy to let? Thanks Quote Link to comment Share on other sites More sharing options...
Le Grande Fromage Posted January 13, 2015 Share Posted January 13, 2015 Good afternoon All, First post so go easy. I am seriously considering the possibility of buying a property to let - as an investments for the future. I have absolutely no experience in this area. I have done plenty of reading up on the subject but what I would really like to hear are the experiences and tips etc of people who have done it before. Anything you wish to share, no matter how big or small would be great. Thank you!! Are you cash? wot area?,you think its better to post "Im thinking of buying a BTL on this forum when you would be better off on a Landlord forum,theres plenty of Landlord forums,very confusing""""""" Quote Link to comment Share on other sites More sharing options...
ZeroSumGame Posted January 13, 2015 Share Posted January 13, 2015 Railway stations. Ideal property to let. Your tenant could be a rail operating company or a property investor sub-letting. Especially in the busy south-east. Can't go wrong with bricks and mortar, except where stations are hewn out of stone. They tend to spiral in value like there's no tomorrow.* *Nothing here is to be construed as financial advice, and in fact you'd be better off going to Mumsnet, or MSE, where there's lots of like minded trolls. Quote Link to comment Share on other sites More sharing options...
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