has the buy to let ship sailed?

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    has the buy to let ship sailed?

    Hi All,

    I would like to purchase a buy to let and have been advised that the ship has sailed on this? Has the ship really sailed or is it difficult to find something viable to on-board? Also what are your thoughts on investing in Birmingham? Is it the next hotsopt? Should someone out side of Birmingham invest in a city that they cannot easily get to? what are your thoughts on this?

    Thanks

    #2
    Originally posted by Laavken121 View Post
    Should someone out side of Birmingham invest in a city that they cannot easily get to? what are your thoughts on this?
    My thought is no.

    Letting property is an active business and you need to know the area you are investing in and be able to get there in an emergency, at least for your first properties.

    When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
    Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

    Comment


      #3
      Originally posted by Laavken121 View Post
      Hi All,

      I would like to purchase a buy to let and have been advised that the ship has sailed on this?
      Some 'experts' have been advising the same thing for decades.

      Like any business, you need to adapt to the changing circumstances.

      Comment


        #4
        If someone is considering getting into buy to let and hasn't already satisfied themselves that the ship hasn't sailed,
        they're not making any kind of rational decision. They've already decided and are seeking validation for their decision.
        When I post, I am expressing an opinion - feel free to disagree, I have been wrong before.
        Please don't act on my suggestions without checking with a grown-up (ideally some kind of expert).

        Comment


          #5
          Property has always been cyclical and investing in a Buy toLet Property must be regarded as a long term proposition, it definitely isn’t what the so called Property Seminar educators would have you believe to be a “ Get Rich Quick” investment.

          There remains a demand for quality rental accommodation irrespective of the geographical location of property, certainly the tax benefits have taken some of the gloss out of such investment but compare the net returns to investing a sum of money in a 2/3 year Fixed rate investment and you will see that the ship hasn’t sailed into the deep blue yonder.

          Comment


            #6
            People will always need somewhere to live. Property will always be a pretty safe and good investment in my opinion. We are only about half way in to the current cycle so prices could accelerate given the right conditions

            Comment


              #7
              Originally posted by jpkeates View Post
              My thought is no.

              Letting property is an active business and you need to know the area you are investing in and be able to get there in an emergency, at least for your first properties.
              I started by buying peoperties 200 miles from where I lived. However, they were in the area where I had grown up and I still had contacts there, including a builder who had been a neighbour of my parents for 20 years.

              Comment


                #8
                Buying in other areas is fine but thinking you will have to do zero work is a mistake. As long as you are prepared to manage remotely you will be fine, if you are relying on a letting agent 100% you will not be fine

                Comment


                  #9
                  quite correct hech, remotely means needing a good all rounder for repairs who has a gas engineer contact and preferably a sparky

                  Comment


                    #10
                    Originally posted by hech123 View Post
                    Buying in other areas is fine but thinking you will have to do zero work is a mistake. As long as you are prepared to manage remotely you will be fine, if you are relying on a letting agent 100% you will not be fine
                    Why relying on agent might be bad ?

                    Comment


                      #11
                      An agent is looking to make money for themselves - not you. You can rely on them..................to do whatever is in the best interest for themselves

                      Comment


                        #12
                        Originally posted by hech123 View Post
                        to do whatever is in the best interest for themselves
                        most businesses find that if they do their business well they end up making money for themselves which, coincidentally, is in their best interest.

                        Any letting agent worth their weight will manage the landlord's interests alongside their own if both of them are out to make money. That's good business sense.

                        What I think you want to say is that most letting agents don't have good business sense, which I'd agree with.

                        Comment


                          #13
                          Laavken121,

                          Have you read this report posted by LandlordZone ? It should answer your question . Wait for 3 years before you buy.

                          https://www.landlordzone.co.uk/news/...gh-three-years

                          Comment


                            #14
                            from the article:

                            Continuing strong tenant demand in the private rented sector, and a steady increase in the number of professional landlords taking up the slack, will help counter the ill effects.
                            this makes it sound like the next three years will be great for those prepared for it... i.e. those who have already secured finance, cash buyers in particular.

                            Comment


                              #15
                              Originally posted by Gordon999 View Post

                              Have you read this report posted by LandlordZone ? It should answer your question . Wait for 3 years before you buy.

                              https://www.landlordzone.co.uk/news/...gh-three-years
                              I read it as saying as now is a good time to buy. It says demand is low so prices should be low, but are expected to pick up in 5 years time.

                              Comment

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