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  • New Members

    Hello from Surrey

    What a fabulous resource you have here! Thanks to those that are giving so much information for us newbies Smile

    My story

    I am planning on taking early retirement and want to buy a property purely to have some income each month. I won't be taking a mortgage and have £130k to spend. I do not own any other property and am not looking to buy more than this one.

    I live in Surrey and so clearly not going to be anywhere near here. I have noted comments on other threads warning against buying in remote areas, but do you think it is high risk if I am miles away but use a management company?

    Any advice on where to start would be very much appreciated Wink I am planning on visiting the PIH show at the excel tomorrow.

    thank you.

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    Hi Julie,

    Welcome to the tribe and thank you for your kind feedback.

    I wouldn't discount Surrey as a place to buy.  As a cash buyer, you could be looking at properties for £150K with a view to getting a discount to meet your budget.

    I would also advise looking in East Sussex, Hampshire, and Kent as none of these places are too far away from you and will have properties within your budget, albeit likely to be flats and apartments.

    I shared here a very low risk way to get started in property which I believe would be ideal for you:

    Low risk strategy to get started in BTL 

    Using a reputable property management company/lettings agent or even using Northwood's Guaranteed Rent service would reduce your risk significantly should you have to buy further afield.

    I hope that gives some food for thought for starters?

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    Hi Yardley - congrats on your retirment

    there are many properties strategies - all use different amounts of time for different rewards (room renting a bit more time for a bit more reward) you have to value your time and work out how much you might want to put in.

    Then its about do you want to refurb anything / develope anything - quite time consuming but makes a lot of money. again the further away you go the more time consuming but might allow higher yields, maybe better capital growth or even opportunity to buy well that local might not.

    spend time evaluating what you like and what strategy works for you and family.

    good luck on your property future

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    regards Andrew Peers - property investor / sourcer - 07912674181

    a.peers@seamlessproperty.co.uk

    Property Redress Scheme Number 011436     NLA member 174404