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Please can you advise on the best area to invest in buy to let if you are just beginning and you are a small investor.
Well it depends on your budget and how much you are willing to put in... off the top of my head I'll advice looking at Manchester and Leeds (provided you've done your research on the hot spots in that area)
Hi Rachel and welcome.I wish I knew the answer!! Seriously though, the best area will be very specific to you and your own personal property ambitions, such as if you are investing for yield or capital growth.It will also depend on your financial situation (what level of property you can afford), your attitude to risk, how much time you have to devote to building your portfolio, etc.I generally recommend newcomers to start out investing close to home. I give my reasons here: 10 reasons to buy investment property within a 10 mile radius of where you live.If you could give a bit more detail on your situation, what you are hoping to achieve etc. then more prescriptive advice can be offered.In the meantime, I recommend that you take time to digest this thread: Top 10 Property Tribes resources for novice landlords and BTL investors . It is like a blue-print to move you forwards step-by-step to your first acquisition.Hope that helps for starters and good luck!
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
When you find out can you let me know
If you look on the Monopoly Board It could be any thing from the Old Kent Road to Mayfair
If you have lots of money I would pick Mayfair or Park Lane if you havent buy Old Kent Road and put a Hotel on it /HMO
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.
I’m more likely to win when I get “Old Kent Road” than “Mayfair” and “Park Lane” as I’m always become bankrupt when I buy the two latter. Maybe I’m just bad at the game lol
You need hotels on the three just after the corner where the jail is. Works for me every time, I never lose at Monopoly!
I love such simple questions
I want to be a Landlord where should i invest LOL ??????
Start by finding the demand, look on Rightmove find out which areas have properties that seem to let relatively quickly after being advertised, look on Google Streetview to get an idea of the area and surroundings, phone a few EA/LA ask questions ie how long does it take a property to let, book some viewings, do the numbers, away you go..
We invest in Scotland - specifically in the Lanarkshire area. Your £ will tend to go further in Scotland (except Glasgow and Edinburgh, of course, ) but demand is high for the type and condition of properties we handle and yields are healthy.
Of course, there are many pros and cons to investing at a distance but would be happy to go through them. We do manage a number of properties for overseas investors but we encourage all our landlords - whether they live locally or otherwise - to take a 'hands-off but vigilant' approach. (I'll explain this more fully in another post....)
But my advice is, before you invest money, invest your time, energy and common sense in reading everything on this forum. It may take you hours - even days or weeks - but it will be the best investment you make. You may not agree with everything, but this is about finding out what is right for you and the level of risk you are happy with. The key lesson is that there are many ways to make money in property - and lose it!
Before making decisions, ensure they are INFORMED decisions. Ask questions no matter how silly you think they are at the moment. Better feeling silly now than feeling stupid later when you've lost a load of money - and you will find many people who have bravely admitted to being the victim of cons, guru's and get-rich-quick scams.
LETS MAKE HOMES by treating landlords as partners, tenants as customers & every property as our own."
I am based in Glasgow and really struggling to buy in Glasgow, Every offer I put in at market value or above is refused.
Hi Ed, I'm curious to know what is the type of properties in Glasgow that you handle? I'm thinking of investing there myself so any info you could share would be welcomed.