IFAs and Buy to Let

JosephM_2 · 26 April 2016 at 5:20PM

Lol, that got to you didn't it? :rotfl:

Thanks but others with far more knowledge than you will decide my future as a landlord. I doubt you would be make a very good landlord, probably brutal in the extreme.

JosephM_2 · 26 April 2016 at 5:24PM

Thank you, clear and to the point.

Guest101 · 26 April 2016 at 5:26PM

JosephM wrote: »

Lol, that got to you didn't it? :rotfl:

Thanks but others with far more knowledge than you will decide my future as a landlord. I doubt you would be make a very good landlord, probably brutal in the extreme.

<--- hello, reporting for duty.

If you wish to become a LL you need to understand that you in essence give up 95% of your rights to the property, and that is not dependant on if rent is paid or not.

If you cannot afford to keep the property going without the rent, this is a bad investment.

I did ask what you would do if rent wasn't paid, but as you've not answered, I cannot comment further on that.

Also bear in mind that there are obligation on you, that if you fail to adhere to, or act in a manner that isn't allowed, can land you in prison, as well as facing civil suits to the tune or £x,000s (or X0,000s)

marksoton · 26 April 2016 at 5:28PM

JosephM wrote: »

Lol, that got to you didn't it? :rotfl:

Thanks but others with far more knowledge than you will decide my future as a landlord. I doubt you would be make a very good landlord, probably brutal in the extreme.

Hardly pal.

Oh i'm sure i'd make a marvelous landlord :A

JosephM_2 · 26 April 2016 at 5:30PM

I am aware of that.

JosephM_2 · 26 April 2016 at 5:44PM

The property is in a city centre with a high turnover of students and young professionals so there should be a steady rental income. Having said that, if the rent is not paid you would obviously need to follow a procedure and perhaps fund the mortgage yourself until things are settled. I am not expecting this to be easy.