We’d like to remind Forumites to please avoid political debate on the Forum.

This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.

📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide

Advice on entering buying to let market

dorediva · 2010-01-10 20:35:21

I'm considering buying a property as a buy to let investment. As a newby would appreciate some tips. Want to start off with something small - should i go new build, look for repossesion, go to auctions etc. Also once bought do i handle it myself or use a agent to deal with rent, tenents etc. I'm in Surrey so if anyone…

Comments

carolt Posts: 8,531 Forumite

11 January 2010 at 2:37PM

What happens if you have void periods betwen tenants? Which of you will be paying the mortgage? Who will be paying for repairs? What if you have a nightmare tenant who trashes the place and doesn't pay - whose responsibility?

And if the value of the property goes down instead of up before you wish to sell? How do you split the loss?

What if one party wants out of the arrangement before the end of the mortgage - how would that be arranged?

Is your friendship strong enough to deal with any/all of these possible scenarios, and are your collective pockets deep enough?

PS Don't believe everything you watch on TV.

0

This discussion has been closed.

★ ★ ★ Meet your Ambassadors

Advice on entering buying to let market

Comments

Confirm your email address to Create Threads and Reply

🚀 Getting Started

Categories

Is this how you want to be seen?

Get our FREE Weekly email full of deals & guides - and it’s spam-free