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Is now a good time to buy a property to rent out?
Comments
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You need to research the market in your area, both to buy and to rent.
You need to research what being a LandLord entails, by law, and so you don't get a tenant who never pays you and refuses to move.
You need to research what B2L mortgages are available, as said before 75% LTV is max you will get, but many are on fixed rates for 2 years at 5%+.
Then you need to write out all the expenses you will incurr buying the property to getting the tenants.
Then write out the expected income, allow for voids.
Ensure you have available funds to pay for repairs.
Then remember you need to pay income tax on the profit - if you make any.
If you don't do this you will lose money, if all the above seems too much effort you should not be a LL.
IMO you should be finanical secure yourself before entering into any investment that has a risk associated.0
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