Buy to Let Property

Miranda25

Hello,
Any buy-to-let investors on the forum?
I think about buying a 1-2-bedroom flat outside of London and rent it out. I am not sure if I have to be close to the flat or an agency will deal with it but currently I live in London.
The question is where would you invest in England? Where would you invest in South-East England for a better return please? 
Ideally I would like to sell property easily in the future as I am not planning to live there.
Many thanks.

Vestraun

How much are you seeking to invest and what’s your risk appetite?

Miranda25

Vestraun said:

How much are you seeking to invest and what’s your risk appetite?

Up to £200k (that's why looking for outside London)
I took a lot of risk in the past. I cannot say that I am risk-averse now, I think I just don't care. I want a flat occupied most of the time and do not want to deal with tenants who would refuse to leave the property:-))

hazyjo

Miranda25 said:

Vestraun said:

How much are you seeking to invest and what’s your risk appetite?

I want a flat occupied most of the time and do not want to deal with tenants who would refuse to leave the property:-))

How do you think you could avoid having tenants who would refuse to leave? There's absolutely no guarantee of that. Ever. If you decide you want them out, it could take 6-12 months.

Miranda25

hazyjo said:

Miranda25 said:

Vestraun said:

How much are you seeking to invest and what’s your risk appetite?

I want a flat occupied most of the time and do not want to deal with tenants who would refuse to leave the property:-))

How do you think you could avoid having tenants who would refuse to leave? There's absolutely no guarantee of that. Ever. If you decide you want them out, it could take 6-12 months.

How can I protect myself being a landlord to avoid such situations?

Vestraun

Miranda25 said:

Vestraun said:

How much are you seeking to invest and what’s your risk appetite?

Up to £200k (that's why looking for outside London)
I took a lot of risk in the past. I cannot say that I am risk-averse now, I think I just don't care. I want a flat occupied most of the time and do not want to deal with tenants who would refuse to leave the property:-))

Is that £200k you are looking to invest, or £200k to spend on a property using a mortgage for finance?

Ultimately it will come down to running the numbers against expected income, don’t forget taxes and the loss of first time buyer benefits if applicable to your situation. 

hazyjo

Miranda25 said:

hazyjo said:

Miranda25 said:

Vestraun said:

How much are you seeking to invest and what’s your risk appetite?

I want a flat occupied most of the time and do not want to deal with tenants who would refuse to leave the property:-))

How do you think you could avoid having tenants who would refuse to leave? There's absolutely no guarantee of that. Ever. If you decide you want them out, it could take 6-12 months.

How can I protect myself being a landlord to avoid such situations?

You can't.

Grumpy_chap

Miranda, you are asking essentially for everything about BTL in your open-ended question.  It will be easier for forumites to provide more helpful answers if you can clarify your focused point or query, rather than just "everything".
In terms of location and return, I would consider Milton Keynes, but that is a financial return consideration only and not how easy it is to manage a property from where you live in London.

Miranda25

Vestraun said:

Miranda25 said:

Vestraun said:

How much are you seeking to invest and what’s your risk appetite?

Up to £200k (that's why looking for outside London)
I took a lot of risk in the past. I cannot say that I am risk-averse now, I think I just don't care. I want a flat occupied most of the time and do not want to deal with tenants who would refuse to leave the property:-))

Is that £200k you are looking to invest, or £200k to spend on a property using a mortgage for finance?

Ultimately it will come down to running the numbers against expected income, don’t forget taxes and the loss of first time buyer benefits if applicable to your situation. 

£200k to spend on property using a mortgage for finance. 
Why would I lose FTB benefits? I would like to use it. Can I take a mortgage as FTB? Then live in the flat for short time- do I have to? Then to start to rent it.
Actually the plan is: I cannot afford to buy what I want. That's why I will buy what I don't need and rent it out :-))

Miranda25

Grumpy_chap said:

Miranda, you are asking essentially for everything about BTL in your open-ended question.  It will be easier for forumites to provide more helpful answers if you can clarify your focused point or query, rather than just "everything".
In terms of location and return, I would consider Milton Keynes, but that is a financial return consideration only and not how easy it is to manage a property from where you live in London.

OK, fine. 
I thought about investing into Sevenoaks/ Tonbridge/ Tunbridge Wells. Then I looked online and find out UK's best property investment locations such as Liverpool/ Manchester/ Nottingham (the best), in South-East Englsnd-Slough, Bracknell, Swindon... even Deal. I am confused. Shall I go with this researches? How you people decide how to pick up the place to invest to?
Shall I try to manage myself a property? Then definitely not Liverpool as I am in London right now. Or most of the people would pass the flat to agency to manage it? Thanks :-)

hazyjo

I have a friend in NE London who's got 8 or so BTLs in Folkestone. No idea how she's been hit by Covid and if they're all still paying or not. Not recommending the area, just saying it obviously works well for her. Similar figures too.

Personally, as much as I adore property, it's not something I'd choose to get into. Too much hassle, generally not so lucrative like it used to be, and I'd rather just have a bigger property myself, or move to a nicer area.