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Buy to let help
MSforums
Posts: 17 Forumite
Hello,
I have 100k cash to spend on a buy to let.
I'm looking for a service I can go to and say 'here's my money, tell me which property is good, which is bad, handle the tenant, manage the property, and pay the rent in my bank account'.
I don't want an active part in being a landlord. I'd rather let the service do all that, and not get involved - only interested in the monthly rent, even if the service charges for taking an active role while I lie low.
Any suggestions?
I have 100k cash to spend on a buy to let.
I'm looking for a service I can go to and say 'here's my money, tell me which property is good, which is bad, handle the tenant, manage the property, and pay the rent in my bank account'.
I don't want an active part in being a landlord. I'd rather let the service do all that, and not get involved - only interested in the monthly rent, even if the service charges for taking an active role while I lie low.
Any suggestions?
0
Comments
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Do you actually envision seeing a profit from your new business?Even if you do go fully managed it's still your responsibility to comply with all of your legal obligations - and I wouldn't trust your agent to get these correct as there are no qualifications needed.Surely you'd make a much better return by paying into your pension and available ISA's instead? How do your lettings business figures stack up against the alternatives?0
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I have purchased a student let. And it is fully managed by one company. They find the tenant, deal with everything. Collect my service fees and my ground rent. And all I do is get my rent and pay my fee. I don’t have any dealings with anything else. The monthly profit after the fees I pay is about £300 a month. So worth looking into if you live near a university town? Check out student pods and dorms to buy.0
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The op has started a few threads like this already and doesn't seem to be listening to advice, make of that what you will....When using the housing forum please use the sticky threads for valuable information.2
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A student pod is a good option, probably the only option for the level of hands off-ness you want. But they can be very difficult to sell (i.e. impossible). If you want to buy a house or a flat you are going to have to take lots of responsibility. Even with a managed service they are not going to find properties for you, or take full responsibility. Being a landlord needs some commitment due to the legal risks you face when you become a landlord. The stock market is a better place for hands-off, long-term investment.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.0
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Probably similar advice to a month ago. https://forums.moneysavingexpert.com/discussion/6090585/btl-for-50-000/p1
Would agree with the above advice, if you want a hassle free life, in the long term the stock market will probably be better.If you are a first time buyer max out contributions to LISA over the next few years while you study.
If you are going to go for being a landlord despite the advice pick a location!
https://forums.moneysavingexpert.com/discussion/6101096/why-cambridge-so-expensive/p1
https://forums.moneysavingexpert.com/discussion/6101047/apartments-for-200k/p10 -
I can provide such a service. I'll PM you my bank details. Naturally, capital at risk.2
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