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Hi Alessandro,Welcome to the tribe.I must confess, I am concerned to hear that you are buying remotely and, even buying through a deal sourcer, the risks are massively amplified.Have you visited Darlington? There are reasons why properties are cheap. How have you ascertained tenant demand? If no one wants to rent the property or you can only rent to LHA tenants (tenants in receipt of housing benefit), then the risks and hassle are even greater.I am afraid, that, in my opinion, you need to go back to square one. I always recommend starting out buying close to home. My advice would be to go onto rightmove, put in your home postcode and gradually extend the search radius until properties start to appear within your price range.I would then do due diligence on that area and source a tenanted property - see the video below about how that could mitigate your risk of buying remotely.
Be aware that deal sourcers are often people who have been on a training course but have little experience. There are actually professional deal sourcers, who are properly regulated, on every High Street .... otherwise known as estate agents. You would be far better off working with local agents to find you a suitable property than paying an unregulated person a fee imho.I hope those ideas help for starters?
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**
Have a watch of this video series:Monday - Taking responsibility for your financial future and how to do thatTuesday - Get educated!Wednesday - Create your "income engine" and then turbo charge it!Thursday - Build your "wealth pyramid" to future-proof your wealth.Friday - Protect your assets within a "wealth fortress".
My advice is to buy something local to you.
Search on rightmove, put in your town, set your budget +20K and see what you can find. If there isn't anything then widen the search area and keep widening it until you do find a property.
Don't be hellbent on buying a house, flats rent very well to young couples.
Avoid: ground floor flats on a busy street opposite a petrol station, new flats with high service charges and ground rents (service charge under £100 pcm and ground rent around £10/year is reasonable), flats in high rises (keep it 3 floors max).
Rent out to a hardworking young couple.
There, you have a winning formula.