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Considering BTL for monthly income
SparkyG
Posts: 341 Forumite
Due to the currently low interest rates I am considering buying outright, a 2 bed flat as a BTL. It would be within 1 mile of our house where we have a mainline station with journey time of 20 minutes to Central London. Current rents are around £750 pcm. What I would like to know is roughly what percentage of that amount could I expect as pure profit/ income?
I would want it to be as hassle free as possible, so agent fees would take a chunk. Also I realise there are other costs: contingency fund, council tax, insurance etc.
I am a non taxpayer, have no other income, and am hoping to get more than the current £350 I get per month from investments in Building Society Bonds. Am I being realistic?
Thanks in advance for any advice. I really am in the very early stages of considering this.
I would want it to be as hassle free as possible, so agent fees would take a chunk. Also I realise there are other costs: contingency fund, council tax, insurance etc.
I am a non taxpayer, have no other income, and am hoping to get more than the current £350 I get per month from investments in Building Society Bonds. Am I being realistic?
Thanks in advance for any advice. I really am in the very early stages of considering this.
:beer: My glass is half full :beer:
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