50k buy to let

Brown_Bear

Looks like there is still plenty of dumb money heading into residential BTL.
A generation following on like sheep - because they've seen the money made over the past 10-20 years.

No idea about increasing legislation, S24 etc.

I give it about 2 years before the reality starts to sink in...

Marvel1

JohnLock wrote: »

will I have to pay for boilers and all the maintenance?

:eek:

Oh dear, you have some serious reading to do, start with the sticky thread on top, twice over.

Brown_Bear

Marvel1 wrote: »

:eek:

Oh dear, you have some serious reading to do, start with the sticky thread on top, twice over.

Well in reality, the tenants will probably pay - via their rent to the LL.

That's if all works out well for the LL.
In a case like this - I'd estimate about a 50/50 chance of this 'amateur' LL being messed about by some tenants (who figure out he's an amateur and exploit the loopholes he's left for them...)

Brown_Bear

Crashy_Time wrote: »

You can invest in property funds, why bother with the hassle (maybe) of being a landlord?

Amateur LLs like this just aren't interested in property funds or REITs.
They've heard that ''you can't go wrong with bricks and mortar''. They want a tangible asset and they don't trust ''the stock market''.

[Deleted User]

The OP posts varying threads of this sort every so often. If you want to laugh, look at the history. Not worth giving answers though.

babyblade41

I know this is a wind up but all the checks in the world won't guard against a bad tenant.
I had one for many years but then a partner change happened and all hell broke loose

Very costly ..Good LL's are a rarity now.. too many people watch "homes under the hammer" and say "I can do that"... wrong

Have you ever seen an episode where it goes horribly Pete Tong?

I started off in commercial building and letting then dabbled in private..both were challenging but give me commercial any day of the week.

I doff my hat to long term private LL's , it is more time consuming and stressful than anything else I have ever done by far

Brown_Bear

deannatrois wrote: »

The OP posts varying threads of this sort every so often. If you want to laugh, look at the history. Not worth giving answers though.

This particular post may be fiction - but I personally know plenty of amateur residential LLs who have this exact attitude in real life. Just some kind of blind faith that it's the only alternative to ''cash in the bank''.

For some reason, they never seem keen on commercial property. Not sure why.

Brown_Bear

babyblade41 wrote: »

I know this is a wind up but all the checks in the world won't guard against a bad tenant.

give me commercial any day of the week.
r

Why do you think the amateur LLs always go for residential and not commercial property?

davidmcn

Brown_Bear wrote: »

Why do you think the amateur LLs always go for residential and not commercial property?

Off the top of my head - greater availability of borrowing, easier to sell, voids are shorter, more understandable for those who have only ever dealt with residential properties before...

Brown_Bear

davidmcn wrote: »

Off the top of my head - greater availability of borrowing, easier to sell, voids are shorter, more understandable for those who have only ever dealt with residential properties before...

Interesting. Thanks.

And maybe a lack of institutional money (from REITs etc) to compete with..?