would like to start the BTL/redeveloping properties, request for a mentor

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    would like to start the BTL/redeveloping properties, request for a mentor

    I would like to start the BTL or redeveloping properties, please could someone be a mentor for me. I am reading a lot o forums and websites, but I think the mentor would be best, as so much to filter in all of this information.

    #2
    A lot of the information is detail. You need to start with the basics. The best way to learn the basics is to get a book. A good book will set out what you need to know systematically. Whilst you cannot guarantee that everything in a book is correct, a book is more likely to be correct than something you find online. A lot of what you read online is written by people who did not start with the basics but with the detail; they may genuinely think they they have it all worked out but they have not. A lot of what is written online also reflects widespread practice which is not always good practice. There is of course some good advice online, but the problem for someone looking for advice is sorting the wheat from the chaff.

    If you are thinking of going in for BTL or redeveloping in a big way your best bet is to make sure you have as advisers a good conveyancer and a good surveyor who know how to talk to each other.

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      #3
      Thank you, are there any courses online/ videos online? I just want to learn systematically, before actions.

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        #4
        Originally posted by belt1000 View Post
        Thank you, are there any courses online/ videos online?
        I believe there are. The problem is knowing the pedigree of the provider. Even if the provider looks reliable it may not be if some of the things I have seen on sites purporting to offer expert advice are anything to go by. If 90% is right it is not good enough. I go back to books. A book is probably going to be cheaper. It is much easier to find something in a book than on a video. If you are not sure of anything it is easy to go over it again, Books have an index.

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          #5
          Good advice from Lawcruncher, one of the best. Start with a blank sheet of paper. Ask yourself what questions you have. Put them in order starting with the simplest. Then research. Unfortunately there are a lot of sharks making a lot of money.
          a quick search will generally throw up background. There is also an excellent site called Property Tribes, well worth a visit. Trust your own judgement, after research.

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            #6
            This mentor would tell you not to get involved in this market for at least 5 years. Depending on the political/legislative landscape and property prices perhaps a lot longer than that.

            Timing is everything.

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              #7
              Originally posted by belt1000 View Post
              I would like to start the BTL or redeveloping properties, please could someone be a mentor for me. I am reading a lot o forums and websites, but I think the mentor would be best, as so much to filter in all of this information.
              Now's the perfect time - when nobody else is buying.
              How much you got to invest ?

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                #8
                Originally posted by Section20z View Post

                Now's the perfect time - when nobody else is buying.
                How much you got to invest ?
                Really? Let's guess how much

                a) property prices will fall in real terms over the next 5 years
                b) The average cost to Landlords per year per property of legislative changes and evictions gone wrong
                c) Whether it will still be possible to get a property back or whether tenancies will become Assured lifelong rent protected tenancies

                We can get back to this thread on 18 April 2025 and see who is right.

                My guesses are that it would be a life-changing error
                a) 50%
                b) £3000
                c) 25% (depends which brand of political idiocy rises to the top)

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                  #9
                  i use youtube a lot , seems to be an awful lot of comapnies advertising other forms of investment as returns from BTL reducing , this latest covid episode may be the nail in the coffin for many landlords . I have just watched paul`s excellent video and contacting tenants to see how they are and how i can help . Think VERY carefully if you want to get into this field

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                    #10
                    philg , who is paul - "paul`s excellent video"?

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                      #11
                      You cLuke join the NRLA ( landlords’ association) they have a lot of good resources and do webinars. In normal times, courses too on subjects such as staring and ending a tenancy, complying with the legislation etc.

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                        #12
                        The main thing I can suggest is never, under any circumstances ever ever ever pay to go to any of the property "gurus" seminars.

                        There's a wealth of free information out there on the internet if you want.

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                          #13
                          Thank you so much. In terms of books, which book woudl you recommend? I am also thinking about developing ( buying property and renovating) as well as BTL, not sure which one would work out better...but just want to explore

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                            #14
                            Avoid the 'how to make money out of property investment' types. It's how the rent to rent scandal began

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                              #15
                              Originally posted by belt1000 View Post
                              philg , who is paul - "paul`s excellent video"?
                              this one https://youtu.be/7nmlnju-imY

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