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Buying properties - first time
hollisterbay
Posts: 21 Forumite
Hi guys, I'm a 24 year old guy from London. I'm looking into the real estate game for something small to do on the side. Small for now, maybe I can build it up.
I don't know much about it - currently I'm doing research on it.
What I'm looking at more though rather than in UK, I'm considering something in Italy. Falls under EU.
I'm half italian and have close friends living in the town I am looking at.
Starting off, I'm looking at a simple 1 bedroom place in an area of the town I think isn't too pricy but still good enough so that it is walking distance from downtown and also from the university.
Basically I want to buy it then put it on rent -
Any pointers or ideas for such a thing?
I'm going in 2 weeks to see some places in the town.
I don't know much about it - currently I'm doing research on it.
What I'm looking at more though rather than in UK, I'm considering something in Italy. Falls under EU.
I'm half italian and have close friends living in the town I am looking at.
Starting off, I'm looking at a simple 1 bedroom place in an area of the town I think isn't too pricy but still good enough so that it is walking distance from downtown and also from the university.
Basically I want to buy it then put it on rent -
Any pointers or ideas for such a thing?
I'm going in 2 weeks to see some places in the town.
0
Comments
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I'm sure there are lots of buy to let investors who want to get out of the market in this downturn. Maybe you can help them get out by buyying of them.
However I don't see how you can make the sums work when so many landlords are going bankrupt.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
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I'd do your research on the area you want to buy in. How many similar places are currently let out? what's the rental demand like? will the rent cover the entire mortgage? Can you afford if it the place is empty or the tenant doesn't cover their rent? What taxes are involved in buying/selling?
Also bear in mind that the £ is very weak at the moment, meaning that property in Italy is quite expensive with only €1.20 for £1!Should've = Should HAVE (not 'of')
Would've = Would HAVE (not 'of')
No, I am not perfect, but yes I do judge people on their use of basic English language. If you didn't know the above, then learn it! (If English is your second language, then you are forgiven!)0 -
why not get one of those sicily ruins for €1? The mayor is selling earthquake damaged houses for a euro on the condition that you use local builders and workers to renovate it to an acceptable standard within 2 years.0
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I don't know anyone there - the town I'm thinking of I have alot of close friends who will help me out while I'm sitting in London0
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