Buy To let mortgage help please!

Rogue_Trooperz

My 1st post here, though I do consider myself resonably clued up in money matters, Im still not a millionare:D .
As far as buy to let goes, as some of the people have pointed out, the best time to do it has probably passed. However, on a positive note, it doesnt mean its too late for you to start.
I have recently purchased my third property that is let out and Im still making money. I admit that the rent does not cover my mortgage, but I only have to subserdise it with a little cash and at the end of twenty years I will end up with a house that has been mostly payed for by someone else.
People talk about yields and lots of other 'complicated terms' but I like to think of it in other more positive ways. If someone offered you a property that would cost you £800 pounds per month or the same property for £200 pounds per month, which would you choose?
I think the idea sells itself really. But on another point, I do find it hard work sometimes, and very liitle warning of when that hard work is going to jump out at you. But isnt that the same in all walks of life!

Generali

Rogue_Trooperz wrote: »

My 1st post here, though I do consider myself resonably clued up in money matters, Im still not a millionare:D .
As far as buy to let goes, as some of the people have pointed out, the best time to do it has probably passed. However, on a positive note, it doesnt mean its too late for you to start.
I have recently purchased my third property that is let out and Im still making money. I admit that the rent does not cover my mortgage, but I only have to subserdise it with a little cash and at the end of twenty years I will end up with a house that has been mostly payed for by someone else.
People talk about yields and lots of other 'complicated terms' but I like to think of it in other more positive ways. If someone offered you a property that would cost you £800 pounds per month or the same property for £200 pounds per month, which would you choose?
I think the idea sells itself really. But on another point, I do find it hard work sometimes, and very liitle warning of when that hard work is going to jump out at you. But isnt that the same in all walks of life!

That only works if your properties are increasing in value in real terms quite substantially.

Understanding yield and cashflow and all that may be dull but if you're investing it's pretty important.

If you were starting out as a chef then you'd look to find out how to make mayonaise rather than just chucking eggs, oil and mustard in a bowl and then just seeing what happens.

Perhaps if you're embarking on BTL it's better to start off on a higher level of knowledge than 'property only ever goes up' seeing as you're investing £100k+ (even if much of it is borrowed).