Buy to Let and Property Investements

chloelesliexo

Hi All,

I'm a personal assistant and my boss has asked me to dig up some dirt on Buy to Let and investing.

He has his eye on a number of properties but wont have the time to do all the middle work, so finding tenants and dealing with day to day stuff.

He obviously doesnt mind paying a fee and I've set up a meeting with a company called Midas Consultants next week.

Anyone ever used them? Or know any other property investment consultants?

Any advice appreciated

atush

Try the property forum, and google the consultants- look for complaints.

Crabman

I've moved this to the House Buying, Renting and Selling board

Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere (please see this rule) so this post/thread has been moved to another board, where it should get more replies. If you have any questions about this policy please email [EMAIL="forumteam@moneysavingexpert.com"]forumteam@moneysavingexpert.com[/EMAIL].

vectistim

Chucking 'Midas Consultants' on its own into google isn't enough to identify the particular company you're talking to, but I think you need to find a competent lettings agent.

Titanium

He shouldn't normally need a consultant to buy a property for investment. What exactly are they are going to advise him about?
This is two parts, first buying a property, asking estate agent's advice on the likely rental, applying for a buy to let mortgage and then finish buying it.
AFAIK, vast majority of estate agents will take care of all the hassle of dealing with tenants for a fee. They usually have two options: one which is drawing a tenancy agreement and acting on behalf of you. They charge extra if you want them to chase for payments etc (they call it management fee). It ranges from 6% to 15% based on which estate agent you go to. Some even guarantee that even if your property is left unoccupied, they will cover your loss of business - shouldn't be a major issue at this time when renting is booming.

tim123456789

Titanium wrote: »

He shouldn't normally need a consultant to buy a property for investment. What exactly are they are going to advise him about?

You see quite a few of these on HUTH buying a property, refurbishing it, finding a tenant and mananging it, all for a remote client.

Unfortunately, for every genuine "consultant" doing this there is an equal number of rogues

G_M

So let me understand this.

Bloke has found one or more properties to buy, intending to let them.

Bloke wants someone to

a) buy them
b) find tenants and
c) manage rental

a) solicitor
b) letting agent
c) letting agent

As for 'dig up some dirt', what kind of dirt does 'The News of the World' want to print? Oh, no, they folded didn't they?