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Becoming a buy to let investor with 45k capital - which way forward?
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I would avoid Burnley/Preston like the plague. BIL has a few BTL's there...
Currently 1 in Preston is boarded up as the whole block was taken over by drug dealers and no-one will live there. Entire block needs gutting, its in a right mess and getting all the BTL owners to cough up is prving hard.
He tried Burnley as it is cheaper than Preston. Gas engineeer broke back into the property and stole the new boiler, locals attacked the house as there is resentment about people doing BTL's and pricing everyone else out, had to sell ASAP at a loss as no tenants stayed due to harrasment.
There are a reason properties are cheap... if you want to enter the BTL to HB tenants you need a load more research.NOT a NEWBIE!
Was Greenmoneysaver. . .0
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