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  • Buy-to-Let

    Buy to let new journey

    Hi

    I'm a new investor looking to get on the property ladder, more specifically buy 2 let.

    The question i'd like to ask this excellent site is what would potentially be the best way of starting a B2L portfolio?

    I live in London and clearly 100k does not go too far here.

    Thanks

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    Do you own your own property?


    £100k is that deposit or total you are looking to purchase for?

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    total deposit is around 100k.

    looking to build a small b2l portfolio.

    it's @ the beginning of a new journey.


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    You can buy a 1 bed in East London close to City for about £260k/£265k. You can rent this out relatively easy for £1300pcm. This should give you around 6% ROI if buying in a Ltd Co, or around 8% if buying in your own name (due to lower mortgage costs).

    You can then buy something up north with the remaining money (£20k) which will get you a decent 10%+ ROI.

    This way, you'll get a decent cashflow, and you should also be ready for when the London market turns again

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    Hi Naeem

    I'm curious what you decided in the end. Did you take any action?

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    Hi, dmendz

    When you say "East London close to City" do you mean areas like Whitechapel and Bow, Im in a very similar situation and would be interested in learning more

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    My circumstance is that I will be looking to do this full time.

    Looking for high yield and to a point capital appreciation.

    With 100k I think quite important to have good cash generation but want done things properly.

    Maybe 2 properties up North, but not quite sure what areas. So it is a bit of an open field here.

    Looking to put hours in to really get this working.

    Will 100k ( 50k each property or thereabouts) be enough to get started? ( excluding other fees, solicitors etc) and what would be the best way going about it.

    OR is my thinking not quite there!

    Thanks



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    So are you requiring an income to live on?  You mentioned 100K as a deposit earlier, I'm not sure if you're looking to borrow in addition to your own capital?  If so, what's the total size of the investment you're looking for?

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    Hi Richard

    Thanks for replying.

    Possibly looking to borrow in addition around 125-150k on top of the 100k deposit.

    So around 250k in total.


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