Newbie wanting to learn

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  • Newbie wanting to learn

    I've recently decided that I would like to use some spare cash for more than collecting diddley squat in interest from the bank. After looking around, I think that investing in property is probably the way to go, but from this point I'm not sure of the next steps.

    The last thing I want to do is rush out and buy the first property I see, so I'm trying to learn as much as possible first. Can anyone recommend and good books, websites or seminars on how I can take this interest further?

  • #2
    Forget about seminars. They are a scam to get you to buy their property at inflated prices.

    I suggest you read some of the posts here on Landlordzone. There are subject areas on almost every aspect of property.

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    • #3
      Before you think about buying the property make sure that you know all the rules, regulations, tenant and landord rights that come with being a landlord. The link below is a good place to start.

      http://england.shelter.org.uk/get_ad...ing_a_landlord

      Also if you're thinking of buying a flat, make sure that you can get permission to rent out the flat before you buy it.

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      • #4
        I can say I sympathise. It seems savers are officially just being thrown to the wolves to bail out the reckless lenders. At 5% inflation it only takes 3 years to lose 15% in purchasing power - thats already gone (if you have neglected any savings in accounts) because of the BOE. Its astonishing that the bank bondholders have not been hit but being bailed out with my taxes, and instead depositors are being targeted by the BOE to absorb losses.

        You have to be careful though.

        I have been to many auctions over the past year and ended up nearly bidding on 'bargains' only to later find they carry a charge placed upon them by the bank who the landlord is in default to the bank. There amount of crap out there with subsidence, legal problems etc.. is eye-watering.
        (BTW: If I had purchased any with the bank charge I believe I would legally have ended up with their debt! Amazing.) The property porn industry like homes under the hammer don't portray it like it is.

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        • #5
          You are thinking about starting a consumer business. Approach it as such.

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