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RE: Buy 4 houses in liverpool to rent

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RE: Buy 4 houses in liverpool to rent

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Hi I want to invest in buying 4 houses in liverpool for 100k each and rent them out. I have heard there will be a property crash soon so will wait for that. I need help with securing a buy to let mortgage for all properties and then someone to find the houses in a good area and  rent them out and property manage them for me as I am in London. Are there any companies out there who so all this? I attended a webinair yeasterday from Aran curry but they want £2500 up front so I am not sure about using them. Can anyone out there help? 
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Replies

  • oldbikeblokeoldbikebloke Forumite
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    you have everything to learn and no apparent desire to do so 
    why not buy 40 instead, "it" after all is guaranteed in your rose tinted specs - how much do you think will be left after all your "professionals" have taken their slice of your cake?
  • Rosemary7391Rosemary7391 Forumite
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    I think what you really want to do is investment, rather than being a landlord? Try this:
    There's a forum for it further down the board too :)

  • SlitherySlithery Forumite
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    How about you give me the £100k initial investment you'll need instead, and I promise you'll get all of it back when you decide to cash out (minus my fee of course). It's a much better deal than your current plan...
  • steampoweredsteampowered Forumite
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    If you do not want to be involved with managing your investment, BTL is an awful idea.

    Invest your money into a global stock market tracker fund. That way you don't need to do anything at all - you can just let your money grow. Plus you don't have to spend £2500 on webinars. Plus you don't have to pay letting agents to manage the properties. Plus you won't have to pay higher rate stamp duty. 

    Particularly if you are buying £100k cheap houses in Liverpool. At the bottom end of the market, the risk of damage to the property is going to higher, the risk of tenants defaulting on the rent is going to be higher, and maintenance costs are going to be higher relative to the rent you receive.
  • edited 1 October 2020 at 9:02PM
    davidmcndavidmcn Forumite
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    edited 1 October 2020 at 9:02PM
    Particularly if you are buying £100k cheap houses in Liverpool. At the bottom end of the market, the risk of damage to the property is going to higher, the risk of tenants defaulting on the rent is going to be higher, and maintenance costs are going to be higher relative to the rent you receive.
    To be fair, I think £100k per property is reasonably far from the bottom of the Liverpool market.
    (I initially read it as spending £100k on four properties, which is in fact possible...)
  • bouicca21bouicca21 Forumite
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    Back in March, OP had no income.  https://forums.moneysavingexpert.com/discussion/6117805/am-i-eligible-for-80-payment-of-salary/p1

    Now there’s Enough income to borrow £400k to play with?  I smell troll.
  • Angela_D_3Angela_D_3 Forumite
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    davidmcn said:
    Particularly if you are buying £100k cheap houses in Liverpool. At the bottom end of the market, the risk of damage to the property is going to higher, the risk of tenants defaulting on the rent is going to be higher, and maintenance costs are going to be higher relative to the rent you receive.
    To be fair, I think £100k per property is reasonably far from the bottom of the Liverpool market.
    (I initially read it as spending £100k on four properties, which is in fact possible...)
    That’s not really the case these days.  You can buy slums for buttons but they’ll have to have the electrics gas roof etc done up.  And then the benefits cap of £1600 per month in total no matter how many kids is making that life style less attractive to land lords and tenants alike.  
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