Buying a Buy To Let

[Scouse]

So, my house is rented out. I live at the missus' gaff. But I'm thinking of buying another property to let out.

I know about being a landlord (I'm a bl00ming great landlord, me, I don't know how there's so many horror stories out there), so I'm not interested in advice about that. What I'm interested in is this: What sort of things should I be looking for when I decide which property I want to buy? Specifically as possible.

What sort of areas, what sort of properties, yadda yadda yadda. What do you reckon longer-term tenants are looking for in a property? What sort of tenants should I be looking to attract (not students / no DSS, sorry but fuck that shit for a game of soldiers)? How do I go about doing that in my purchasing decision?

Any of you guys doing this already? What's your experience? What would you look at again or do differently if you were doing it now?

 

[throdgrain]

Fucking capitalist scum!!

 

[gohan]

I get no DSS. but students are where the money is. less upkeep, more rent. almost garunteed to rinse their deposit. or maybe a professional shared house? 4 bedroom house converted into 5 bed at like 400 per room (including bills) that's like 16-1700 a month after bills where as you'd get maybe 1200-1300 renting it as a whole.


Otherwise buy something you want to live in yourself as that may be where you end up, see it as a super slow upgrade for free

 

[Nate]

Answering your questions in order.

London
Flats
DSS - guaranteed money?
Who gives a shit?
By going through an agency and asking for what you want
No
None
I'd look at a mirror again, and maybe grow a longer beard.

Send the cheque in the post.

 

[Raven]

Scouse, becoming part of the problem one £ at a time.

 

[gohan]

Scouse, becoming part of the problem one £ at a time.

LOL I hope that's tongue in cheek the problem is inherited wealth breeding more wealth for the 1% owning a, relatively, tiny portfolio of property is just wise investment.

 

[Moriath]

Students imo too.

 

[Scouse]

Students trash houses. London too expensive. Governments have fucked pensions and they're completely unsafe.

Fuck you guys if you think I'm not going to invest my hard-earned in the only investment that still pays anything.

I'm a decent landlord who provides decent accomodation to people who either can't afford to buy or are saving for a deposit. It's the reality of the country we live in. I don't have to like it, but I do have to live in it and provide for my old age (or should I fall on the (non-existent) mercy of the state, a sponger, rather than provide for myself?)

But hey ho if you've not got the disposable to make investments yourself feel free to be jelly...

 

[dysfunction]

Make sure you pay your taxes

 

[Raven]

No, no. I am happy for you. Fuck those stuck in the rental trap. Fuck'um hard, if I could profit from their misery, then I would too!

Actually, no wait. I am not a massive hypocrite who spends as much time possible telling people how to live and then doing the absolute opposite...besides which...aren't we all doomed? surely investment at this time is crazy?

*I for one do not have a mortgage, nor do I pay rent. If it cheers you up I will retire long before the retirement age too, thanks to legal "things"

 

[Moriath]

Students trash houses. London too expensive. Governments have fucked pensions and they're completely unsafe.

Fuck you guys if you think I'm not going to invest my hard-earned in the only investment that still pays anything.

I'm a decent landlord who provides decent accomodation to people who either can't afford to buy or are saving for a deposit. It's the reality of the country we live in. I don't have to like it, but I do have to live in it and provide for my old age (or should I fall on the (non-existent) mercy of the state, a sponger, rather than provide for myself?)

But hey ho if you've not got the disposable to make investments yourself feel free to be jelly...

Seems like you know what you want and where to do it and who to target so i dont really get the question.

 

[Scouse]

Seems like you know what you want and where to do it and who to target so i dont really get the question.

What sort of things should I be looking for when I decide which property I want to buy? Specifically as possible.

What sort of areas, what sort of properties? What do you reckon longer-term tenants are looking for in a property? How do I go about doing that in my purchasing decision?

Any of you guys doing this already? What's your experience? What would you look at again or do differently if you were doing it now?

Sensible questions.


Oh, btw @Raven, aren't I on ignore?

*I for one do not have a mortgage, nor do I pay rent. If it cheers you up I will retire long before the retirement age too, thanks to legal "things"

Glad you're alright Jack. Sat in your ivory tower passing judgement.

 

[Raven]

Yes, clearly you are. That is how I am responding to your posts.

 

[Scouse]

OMGZO0r! Replied to me in less than a minutz0rr!!1! Are you sat pressing F5 or something?!!!1!1!

/rantaboutnolife etc...



Anyway - here's a genuine question @Raven. What should I do to invest for my old age then?

In fact, I'll open that out to everyone. If I'm horribly immoral, what sensible alternatives should I be looking at?

 

[Raven]

change.

(I couldn't actually give a crap, I'm alright, Jack)

But you seem to have such a massive problem with those that do, just to do the same yourself, its very odd. Anyone would think you are just full of shit.

 

[Shagrat]

Gold from the new world is where its at. Or those dark skinned fellows from the sub continent, apparently filling a boat with them and selling them on turns a pretty penny

 

[Raven]

Nah, you want to get yourself a job in the city and really screw people. Perfectly legal and therefore totally, morally acceptable.

 

[Raven]

Buuuut anyway.

Do whatever, its not like this thread is anything but "hey chaps, look at me and my personal wealth" bullshit anyway.

If you actually wanted proper advise then you would have already spoken to a mortgage/financial adviser.

Not just a pathetic hypocrite but a braggart too.

 

[Scouse]

How would a mortgage/finanical advisor help with house choice?

I know you didn't even leave school with an F in woodwork, but do you not think I've already spoken to them to arrange finance? Are you really so low-rent that you think I get self-esteem from "bragging" on the internet?

Takes one to know one I guess...

Edit: Anyway, I noticed that you haven't answered my question on morally acceptable method of investment. Just sayin'.

 

[Raven]

So, obviously you haven't been to see one yet then...shall we mark this down to Wednesday, middle of the week bollocks?

Also, RE the judgement question...hilarious and as desperate as it is...I couldn't give a crap what you do...however, if you are going to rant about the evils in this world (those that have) then perhaps its best not to do exactly what they do? Maybe? just an opinion.

Probably the same as your tax arrangements that you are oh so pleased with yourself about, in-between moaning about those that dodge tax, naturally.

Either you are a handwringer or not, whatever...the pretending to be something you are not is pointless. Embrace your capitalist instincts, there is little point in pretending you are anything different.

 

[Scouse]

Aww diddums Raven. Rage away

 

[Raven]

Hmm. Afraid you are going to have to give some examples of rage there old chap.

 

[gohan]

Can I record it when you 2 eventually hate fuck the shit out of each other? that will be my retirement fund right there.


And scouse obviously any money you have that's more than you need for your current accommodation should go to the poor. or me. technically they are actually the same....

 

[bainteor]

Thankfully I no longer have the energy I once possessed, nor the inclination to argue with fools, for I have subjected myself much too often to the infuriating monotomy of internet squabbles. I grow weary of it. I shall abstain.

 

[gohan]

Well thank you for that nugget of wisdom. "hi I'm here to say nothing and have succeeded thus while using contrived words"

 

[caLLous]

I'll be over there hugging my knees.

 

[gohan]

I'll be over there hugging my knees.

Talk to scouse, he can rent you a room to do it in

 

[Scouse]

Personally I'll be waiting until Gaff or Wij happen by, or one of the business owners we have on here. Then some sensible suggestions may occur.

That question about alternative investments is open to all btw

 

[gohan]

So, obviously you haven't been to see one yet then...shall we mark this down to Wednesday, middle of the week bollocks?

Also, RE the judgement question...hilarious and as desperate as it is...I couldn't give a crap what you do...however, if you are going to rant about the evils in this world (those that have) then perhaps its best not to do exactly what they do? Maybe? just an opinion.

Probably the same as your tax arrangements that you are oh so pleased with yourself about, in-between moaning about those that dodge tax, naturally.

Either you are a handwringer or not, whatever...the pretending to be something you are not is pointless. Embrace your capitalist instincts, there is little point in pretending you are anything different.

Guess it's a case of hate the game not the player. just cos he disagrees with the way the world is doesn't mean he's honour bound to take a vow of poverty

 

[gohan]

Personally I'll be waiting until Gaff or Wij happen by, or one of the business owners we have on here. Then some sensible suggestions may occur.

That question about alternative investments is open to all btw

Sink it all in scratch cards. will be a laugh if nothing else.

Seriously tho? probably not a great time to buy property but definitely not a good time to play the rock markets or invest in hedge funds so property remains the best bet as you have a monthly income plus the capital from the property if you decide to sell. If you can afford it it's a no brainer. It genuinely depends on what you want out of it. long term monthly income, professional house share is the way. short time renting then sell, 2 bed apartments are probably best for young couples etc. or as I said before somewhere you could see yourself in the future.