Mmmmm

BIZZYIZZY

a bit nervous of writing this, as looking at other threads a few people don't like btl, Has anyone got anything positive to say about buying a btl just now?
My hubby and I are thinking of buying one, I know nothing is sure, but we are going to give it a go, Are we wrong in thinking that IF it works out and we manage to rent it etc etc, It will be an investmant for the future, Any one got anything POSITIVE to say

nig0609

I like the Subway BLTs, especially when the bacon is extra crispy. Mmmmmm yum yum

Pobby

BIZZYIZZY wrote: »

a bit nervous of writing this, as looking at other threads a few people don't like btl, Has anyone got anything positive to say about buying a btl just now?
My hubby and I are thinking of buying one, I know nothing is sure, but we are going to give it a go, Are we wrong in thinking that IF it works out and we manage to rent it etc etc, It will be an investmant for the future, Any one got anything POSITIVE to say

Have you researched this? Are you cash buyers?

getmore4less

Nothing wrong if the business plan is good.

IF you are speculating on house prices then it is a gamble

IF you are in the business of letting then yield is what you are looking for think 10% gross.

Doozergirl

What getmore4less says. It's the yield you need to look at, not necessarily how much you like the house. You want the mortgage paid off asap not something which is purely there to grow in value - that indeed is gambling. The sort of property that gets a good yield may not be one you'd consider living in.

Small is good - higher yield on smaller properties. 2 bed terraces are versatile for sharers, couples and young families - a good portion of the rental market. Avoid, in general, new build flats as the market is totally flooded in many areas and you're likely to see more voids plus service charges are unpredictable and likely to rise over time as buildings actually need maintaining.

Robert_Sterling_3

BIZZYIZZY wrote: »

Any one got anything POSITIVE to say

No me but sound advice from others..........................

RetroBob

You are probably better off investing in shares at the moment given they are on their arrse.

Willsnarf1983

i suppose the biggest thing is that if there is a void in your renting that you have the abilities to pay the mortgage without relying on the rent money

Will

david29dpo

I have seen a big upturn in the sales of cheaper houses for rent. The yield can be better than money in the bank at the moment.

BIZZYIZZY

thanks for your advice, and sorry I meant to say btl, We are not cash buyers, so we would be useing some of the money in our house, We live in the far north of scotland, We have seen an ex council house for sale at £52000, 2 bedrooms, not bad condition, And we are keeping an eye on lets, and they do seem to be going ok, Also I was thinking we have workmen up here 6 months at a time, who pay £35 for B&B, A chance that the company will rent a house, Loooking into that, so what do you think?

Pobby

Well I guess it`s your decision clearly. As Wills says, do be aware of voids as you will be increasing your mortgage. I guess some are lucky not to have that many voids but do bear that in mind.

I am in the situation where I could buy a couple of places out right of the type you mention but right now I don`t think I would want the hassle.