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Looking to get into the buy to let world. But spoke to a few people recently, who said to avoid it, as it’s simply not worth it, with all the new taxes. Does anyone have any advice or thoughts on this?
Same here, getting lot of mixed reviews over the last 12 months.
Many exited property investment, and some grabbing the opportunity of the lifetime recently.
I think it really depends on what you have in your toolbox and experience in structuring the business.
What is for sure is property prices crashing and plenty of potential to create many millionaires over the next 2 years.
Thank you for your reply.
Can you further elaborate on why you think it’s an opportunity of a lifetime over next 2 years? ??♂️
Never experience such big sales in the SE in my short career in property, my last 2 property bought average over 21% BMV and 26% below asking prices.
Remember these prices have already dropped over 20% since April 2017 when it last peak.
Out of curiosity, Where in SE specifically?..
City of London and Tower Hamlets
I'll summarise quickly for you so you don't have to read through this thread turning into a 40 pager.
Dyslexic Landlord will come along to tell you that it's dead and you should invest in stocks and shares instead.
Jonathan Clarke will come along to tell you that DL is wrong and BTL is the perfect investment and you should invest in nothing else.
James B and "Anotherjohn" will cry for a few pages about legislation being too hard and the nasty government is out to get them.
Vanessa will recommend you check out Holiday Lets instead.
PTFS will tell you to speak to a broker.
Some random Remainer will throw in a comment about Brexit.
Then I'll butt in to say it depends on where you are in your career and investment portfolio currently as to whether you should jump in now or later, but long term some buy to let's should form PART OF a balanced investment portfolio.
As far as I'm concerned they're all valid, but you have missed out lodgers - I'll take that unless anyone else wants it.
Ha! Ha! I certainly don't recommend holiday lets to first timer landlords though unless they have a very significant other income.
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**