buy to let in south east- advice

happychick74

Hi,
I have £25k deposit to put towards a buy to let and I live in sussex. Does anyone recommend anywhere in particular to look at. I am considering Eastbourne, Bexhill or St Leonards. I am also unsure about accepting DSS or not. What advice can anyone offer me?

Dan-Dan

25K?
no where near enough cash to start with

nubbins

happychick74 wrote: »

Hi,
What advice can anyone offer me?

Start saving!

skater_kat

Dan-Dan wrote: »

25K?
no where near enough cash to start with

you can get a 1 bed flat in st leonards for 60k

Hoploz

I have a flat in Hastings which gives a good return. We put down a similar amount as deposit on a good quality flat (not the cheapo rubbish) as we used it ourselves for a holiday home for nearly 3 years. Due to a change in circumstances we now renting it out and we are receiving far higher than we expected in rent pcm. Not a huge amount of capital growth but we are in for the long term. We will stop renting it out when we are back on our feet and use it ourselves again, but if we were willing to put the effort in it would make a beautiful flat for holiday rentals too.

We absolutely love Hastings, it is so varied and there is always something going on. Plenty of choices for regular and tourist shops, so many events all year round. And there is the student population as well, although I think they are due to build some student accom shortly.

For us it is a cheaper area with good rental potential. The recent investment in the pier (which hadn't burnt down yet when we bought!) including Harry Ramsden's pride of place, Jerwood gallery, govt investment in the seafront, loads of local pride and hopes for a bright future, we really feel it is on the up and will be a great long term investment. It is definitely a regenerating area. I hear there are also plans for the local council to rent properties directly from landlords, and provide them to people most in need.

[Deleted User]

I also bought a flat in Hastings about 8yrs ago . I had £50k redundancy payment and decided to buy something sensible or I would fritter it away and Hastings was the cheapest place I could find . The flat is not in the greatest road but it is central and in the whole of the time I've had it it has never been unoccupied.

I had never been to Hastings and loved it, not all areas were great but you get that anywhere. If I was buying a home I would buy in St. Helens or the old town but as a buy to let my little flat has been perfect.

As the previous poster said Hastings Is up and coming, a lot of Londoners are relocating and the area is being rejuvenated. It'll only take better transport links / roads in and it'll fly as it is a perfect family area or ideal for creatives etc.

I see my little flat as part of my overall pension planning so am not in. It for a quick capital growth but the income ratio has been fine .

mrsmazza

Have you looked at Bognor Regis, you can get a flat for under 100k. We have 4 buy to let's there and have never had a problem renting them ou

Hoploz

BBH123 wrote: »

I also bought a flat in Hastings about 8yrs ago . I had £50k redundancy payment and decided to buy something sensible or I would fritter it away and Hastings was the cheapest place I could find . The flat is not in the greatest road but it is central and in the whole of the time I've had it it has never been unoccupied.

I had never been to Hastings and loved it, not all areas were great but you get that anywhere. If I was buying a home I would buy in St. Helens or the old town but as a buy to let my little flat has been perfect.

As the previous poster said Hastings Is up and coming, a lot of Londoners are relocating and the area is being rejuvenated. It'll only take better transport links / roads in and it'll fly as it is a perfect family area or ideal for creatives etc.

I see my little flat as part of my overall pension planning so am not in. It for a quick capital growth but the income ratio has been fine .

They are already building a new link road which will improve congestion out of town, and there are plans for a fast rail link

Our current tenants are a couple who have moved out from London for a slower pace of life. We are between old town and new town so have the best of both worlds.

Bognor sounds a good idea. Is there any investment/regeneration going on there these days?