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mooey
Joined: 06 Dec 2007
Posts: 19
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 Posted: Wed Jun 11, 2008 9:08 am Post subject: rents rise in face of doom ridden market stats |
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resisdential rents are rising according to analysts....
so basicallt what that means is so long as you have the deposit money for a morage these days and you dont buy ino the media hype about falling values long term....buing to let is still as strong a prospect as ever.
i only have 2 buy to lets ...and i have always taken a long term view on them ....never thouht of flipping or trying to make a fast buck
if you are in for the long haul ....its always a safe bet
and that scompare to just about everything .....no safer bet than oil prices rising |
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PhilW
Joined: 03 Aug 2006
Posts: 421
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| Posted: Sat Jun 21, 2008 10:41 am Post subject: |
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Lets see if you still feel the same in five years!
Why do you think it is called the "Buy to Regret" market?
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Martyn
Site Admin
Joined: 19 Jun 2006
Posts: 273
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| Posted: Mon Jul 14, 2008 8:22 pm Post subject: usual story ... |
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if you do your sums ...
buy at the right price ....get the rent you have researched and expect or more
get the right finance deal ....
buy in the right place
you stand a good chance .....
the problem of the last few years is that everyone has got on the bus, but have not done thier home work
the phrase is due diligence ......and its vital for success now the market is changing
i would advise ....and have taken my own advice on my properties is to take a minimum of 5 years as a view and then reflect.....
i have just bought at what i hope is the bottom of the cycle in two sought after areas of leeds (suburbs not central) i know the local mkt...i bought builders pxs that they dropped .....to get rid off
had people fighting to rent them....
price, location ........get them right and you are well on the way
...everything else is in the lap of the gods
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PhilW
Joined: 03 Aug 2006
Posts: 421
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| Posted: Tue Jul 15, 2008 9:26 am Post subject: |
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1. The market may have a way further to fall.
2. People who rent do not respect the property as if it was their own.
3. You will be saddled with maintenance and repairs - often at unsociable hours.
4. You will be taxed 40% on any capital gain you make.
At the end of the day everything is a risk but this is a risk with a hassle attached!
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Martyn
Site Admin
Joined: 19 Jun 2006
Posts: 273
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| Posted: Wed Jul 16, 2008 2:48 pm Post subject: PROS AND CONS |
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THATS A FAIR ASESSMENT...BOTH MY TENNANTS IN THIER 6Os
my risk anaysis was low ...based on what i said before ....having a couple of great tennants is the icing on the cake
though i know that does nt wrok for everyone...
we had ....... couples and the like with kids turn up to see , and we turned them down ...
we had clear idea who we wanted to rent .....of course we could be wrong...but looking at the amazing job one of them has done with the gardens....we are very impressed...
both are long termers as well ...well so long as they live that long LOL!!!
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