Any buy-to-let crew on here?

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Any buy-to-let crew on here?

Postby Spit on Wed May 18, 2011 6:44 pm

My parents are finally toying with the idea of investing in property to rent out, and I've said I'll have an ask around and get the lay of the land as it's unknown territory for all of us. Do any of you lot own property, and if so can you point me in the direction of some useful resources to get my head around it all? Qualified advice and anecdotal evidence (good and bad) would also be much appreciated.
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Re: Any buy-to-let crew on here?

Postby simon m on Wed May 18, 2011 7:44 pm

My mother owns 3-4 properties and the skill is buying at the right price and in the right area, so you really need to investigate for a few months first. Then make sure you use an ARLA bonded Letting Agency and get rental guarantee cover.

Due to problems with Uni's be careful about student lets and see if you can attract professionals, so close to a train link to London etc., makes sense
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Re: Any buy-to-let crew on here?

Postby kp1512 on Wed May 18, 2011 8:05 pm

Spit wrote:My parents are finally toying with the idea of investing in property to rent out, and I've said I'll have an ask around and get the lay of the land as it's unknown territory for all of us. Do any of you lot own property, and if so can you point me in the direction of some useful resources to get my head around it all? Qualified advice and anecdotal evidence (good and bad) would also be much appreciated.


If you have money right now - it is an excellent time to buy.

Key things are

- near a station
- near a uni
- near a commutable town to the major city

Some sites
http://www.thisismoney.co.uk/buy-to-let-tips
http://www.cml.org.uk/cml/consumers/guides/buytolet
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Re: Any buy-to-let crew on here?

Postby Rab on Wed May 18, 2011 8:26 pm

Wh you talking here Spit? Scots law is different in a few areas from the southern fairies

I rent out a house and go through a lettign agent who holds the deposit, looks after the property (inspects every quarter) deals with getting in the rent money and pays direct to my bank account and writes up a tennancy agreement.
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Re: Any buy-to-let crew on here?

Postby ollie on Thu May 19, 2011 2:13 pm

Camberwell is looking like a very attractive place to buy at the moment.

The London rental market is going mental.
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Re: Any buy-to-let crew on here?

Postby Spit on Fri May 20, 2011 10:28 am

Thanks for the help all, much appreciated.

Rab- I think we'll be sticking to civilisation, just because Scotland would be a mission for my parents to get to (they live in Cambridge).

Part of the problem is that they are totally open to both location and target market (could be renting to students, families, holidaymakers- whatever) so it's making it quite tricky to narrow the search. I'm inclined to give Bristol a good look because I know it well and there is money there; also as Ollie says London property seems to be increasing in value far quicker than anywhere else, but I think that would require a bit more specialist knowledge.
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Re: Any buy-to-let crew on here?

Postby kp1512 on Fri May 20, 2011 11:50 am

ollie wrote:Camberwell is looking like a very attractive place to buy at the moment.

The London rental market is going mental.


totally agree - if its like this now - just imagine what happens in the next few years assuming we get out the mess.
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Re: Any buy-to-let crew on here?

Postby ollie on Fri May 20, 2011 1:42 pm

Yep, I'm planning on buying next year. Balham and Camberwell seem like good options - I wouldn't want to be any further out than that personally.
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Re: Any buy-to-let crew on here?

Postby kp1512 on Fri May 20, 2011 1:45 pm

ollie wrote:Yep, I'm planning on buying next year. Balham and Camberwell seem like good options - I wouldn't want to be any further out than that personally.


yeh - i do like swiss cottage and finchley and around there....but damn bloody expensive
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