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    • spencer999
    • By spencer999 14th Jun 19, 10:06 AM
    • 74Posts
    • 10Thanks
    buying cheap flats to rent out - cos my friends are doing it too
    • #1
    • 14th Jun 19, 10:06 AM
    buying cheap flats to rent out - cos my friends are doing it too 14th Jun 19 at 10:06 AM
    My credit rating has shot up lately (468 against national average of 414) and I'm thinking of dipping toes slightly further into renting out. We have a mortgage of about 98,000 on our house and we have a flat rented out mainly because we had no choice as it's in negative equity. That's in my missis' name though.

    That flat was bought as a new build about ten years ago and the price immediately plummeted, so they are attractive buys now. The service charge is over 2000 though, and the flat we rent out there doesn't make a profit. BUT as they are so cheap now it does look like an attractive prospect to buy another,
    A lot of my friends are doing it and it feels like I would be joining a trend just before it goes sour in some way - or is there a never ending stream of people desperate to rent? One friend has ten houses, and says that the poor economy and growing population means that there is indeed a guaranteed market. Hmmm

    An agent looks after our flat and we never have to think about it from one month to the next.

    Thanks kids
Page 2
    • Crashy Time
    • By Crashy Time 19th Jun 19, 9:43 PM
    • 8,431 Posts
    • 2,980 Thanks
    Crashy Time
    So the basis of your discussion to try your hand at being a landlord is a meaningless score of 50 above the nation average and the fact that your mates are doing it?

    Good lucks, you will need all of it.
    Originally posted by foxy-stoat
    Can`t be that hard?
    • Crashy Time
    • By Crashy Time 24th Jun 19, 6:05 PM
    • 8,431 Posts
    • 2,980 Thanks
    Crashy Time
    As they (almost) said in the 1977 movie "close encounters of the 3rd kind...

    ... "You are not alone"
    Originally posted by AlexMac
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