Buy To Let - would you pay £150K for a £625 BTL ?

Moo_2

Well I have a buy to let in the same area as you and my rents only just covered my mortgage.

BUT I'm not investing for an income now but for a pension in 20 years time.

I think it depends on how you want to invest, long term or short term.

Also my property increased in value by £10,000 last year

nelly_2

Go for it! houses only ever go up

Generali

Col.Mastard wrote: »

Yes, but who's really bothering with the TDS? :rolleyes:

My LL will do when I sign the next AST if he's got any sense! 3xdeposit - thats 18 weeks rent or about £4 grand for me.

I reckon most people would grass up their LL for four grand.

wecanhelpu

Generali wrote: »

My LL will do when I sign the next AST if he's got any sense! 3xdeposit - thats 18 weeks rent or about £4 grand for me.

I reckon most people would grass up their LL for four grand.

The TDS is seen by some (myself included) as a way for the government to build a database of landlords in order to collect taxes.

I don't know if you've seen it Gen, but there's been talk on that other site of landlords willing to forego the deposit so as not to expose themselves to tax liabilities.

Could be an interesting development

Romani_Ite_Domum

BTL is soooo yesterday.
If you are looking for a good long term investment:
Buy a few acres of land, plant some eucalyptus trees. Nurture them, love them and watch them grow. In 20 years you will have a forest of trees, land that is worth more than you paid for it and a sense of well being that being a LL could never achieve. Ahhhh Karma.

wecanhelpu

Bloody Romans

what have they ever done for us?

bap98189

Crikey - £600 for a 2-bed terrace. Remind me never to move to Harrogate.

ManAtHome

Romani_Ite_Domum wrote: »

Buy a few acres of land, plant some eucalyptus trees. Nurture them, love them and watch them grow. In 20 years you will

be up to yer armpits in bleedin Koalas...

Romani_Ite_Domum

wecanhelpu wrote: »

Bloody Romans

what have they ever done for us?

All right, but apart from the sanitation, the medicine, education, wine, public order, irrigation, roads, a fresh water system, and public health, what have the Romans ever done for us?

Helonearth

I know where all the people who say "Don't Do It" are coming from, but personally, as long as you can afford to cover the mortgage even if you don't have a tenant, I would say do it as a long term investment.

I don't think of it as me subsidising a tenant, I think of it as them subsidising my pension! If the repayment is £500 on the mortgage, and the rental income is £400, even saving £200 for wear and tear, voids etc, there is still £200 a month going towards my pension investment!

Sooner or later the property market will slow up and speed up and slow up again, but I would have 25 years to ride it out. I doubt the property would still be worth x amount in 25 years time!