Purchasing my 1st buy to let - advice required please

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    Purchasing my 1st buy to let - advice required please

    Good Morning Folks

    I am in the process of purchasing my first buy to let property.

    As you know, there are certain advantages of purchasing a BTL within a 5 mile radius of where you live - i.e. easy to get to, and you may already know the area etc.

    Does that mean purchasing a BTL in, for example, another town/city, comes with its own set of disadvantages and that I should concentrate on purchasing my first BTL close to where I live until I get further experience of the BTL business?

    Thanks in advance for your responses.

    #2
    I think buying close to you is good advice. I inherited properties miles away, and it was unbelievably difficult renovating them when I had nowhere to stay, and did not know any local tradesmen.

    I still have a few, and spend a lot of time and money travelling and employing agents. Stick to where you know.
    To save them chiming in, JPKeates, Theartfullodger, Boletus, Mindthegap, Macromia, Holy Cow & Ted.E.Bear think the opposite of me on almost every subject.

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      #3
      Thanks jko

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        #4
        Originally posted by geek84 View Post
        I should concentrate on purchasing my first BTL close to where I live until I get further experience of the BTL business?
        What experience did you learn from the property that you own in the link below?

        http://www.landlordzone.co.uk/forums...ever-has-done-!!!

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          #5
          Your BTL must be further than staggering distance away from your house. You don't want drunk Ts turning up at all hours!

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            #6
            Originally posted by Berlingogirl View Post
            Your BTL must be further than staggering distance away from your house. You don't want drunk Ts turning up at all hours!
            this can be managed - like getting calls on christmas day asking if we have any available for a freind - she will not call on christmas day again - and she is still a T - and has been for 6 years

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