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As a small investor who is just starting, I don't think 'where to buy?' is the right question to ask.
My first 2 questions were 'how to buy?' and 'what to buy?'
Understanding the answers to those questions has served me very well on my first investment.
This comes down to locations and demand in those locations in my opinion.
I agree that 'where to buy?' is still a consideration, but not the only consideration.
If I had bought vanilla BTL in the area I chose I would have a gross yield around 6% and be enjoying capital growth at around 10%, so not a bad investment.
By questioning the how and the what I will achieve a gross yield around 12%, capital growth around 10% and forced appreciation around 50%. I also gain an extra £16k pa tax free income and my assets are more secure. These aren't the maximum I could achieve but for a first investment it was a level of risk that I'm comfortable with.
What are you looking to buy? What's your strategy? Mine is buy close to home, self manage, build equity, maximise yields, build a USP based on service & tenant quality
Rather than digress here...
This is what I bought:
This is where:
And these are why:
The best area to invest in BTL?
Answer: Your home town!
Welcome and congratulations on taking the next step in property investment. My advice is that any area is the best area, it’s all down to what is best for you and your individual needs. Everyone is different and has different goals and circumstances which don’t always match others.
Look at what is best for you Rachel, have you looked at anything so far? Have you got an idea of what type of invest you would like?
Transparency notice: OneandOnlyPro is a commercial partner of Property Tribes.
No budget, no areas considered, no tenant type, no type of property?!
Realistically, how can this question ever be answered? (Answer: Not by a guru, that's for sure).
This is the sort of blog I mean when I think its a Tyre Kicker
No response from the person who posted
I would have thought if you were serious they would have responded out of curtsy
Learn Change and Adapt ?????
All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.
Exactly what I thought DL, hence why I thought I'd let others reply before I put as polite a reply as I possibly could.I would be so bold to say they were a timewaster.