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Originally posted by MarkM
Plus more often than not they will fucking trash the place...

:mad:

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Originally posted by Ian
You generally wouldn't make rental income all year round in that case. Even if you can convince the existing tenants to offer you a retainer for the next academic year they will leave eventually and you'll not have new people until after the summer.

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You generally wouldn't make rental income all year round in that case. Even if you can convince the existing tenants to offer you a retainer for the next academic year they will leave eventually and you'll not have new people until after the summer.

Think the best way is to invest in an area near colleges and uni's etc, fill it with cheap Ikea or (2nd hand stuff) and rent it out to students!

not everyone has the cash to buy an extra house, even just the 25% for the mortgage!

I more meant I dont want to be building new houses, etc. as mentioned, so just doing some renovation (as in not major major work) is easy!

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Originally posted by Cosmo
Would rather it be easier, so just a place with a bit of work needed, someone in renting the place for a few years, sell it on.

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i think if u have one house u can buy a whole load using them as security too borrow more money...

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Originally posted by topshot_2k
if you have decent amount of money have you thought of buying land to build a new house/houses on? or renovation?

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if you have decent amount of money have you thought of buying land to build a new house/houses on? or renovation?

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Originally posted by topshot_2k
i wouldnt worry about selling it in 2 years mate, general repairs are affordable if its looked after and the way demand is going prices will only rise.

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i'd go for it, im currently sorting mine out, hopefully get the place in march. buying one which me and gf will live in, second is a buy to let with my parents (50% each) which we will rent out.

i wouldnt worry about selling it in 2 years mate, general repairs are affordable if its looked after and the way demand is going prices will only rise.

A mates dad owns 28 houses (almost one entire street! :lol: )

He lets them out and has never had any problems with any being empty and always has people in them. Not only does he use the money to pay off the mortgages, but he also makes a tidy £120k a year for himself and doesn't work (well, apart from maintenance to the houses).

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Originally posted by loafofbrett
Sounds like you've got enough family and friends who are already involved in doing that sort of thing for you to have enough info at hand without asking on a car forum.

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You can never get enough advice thou Brett, im sure someone on here has experience in it as well

Enough with the arsehole wank stain attitude

Sounds like you've got enough family and friends who are already involved in doing that sort of thing for you to have enough info at hand without asking on a car forum.

My dad is an IFA ;)

I wouldnt want to keep it too long TBH, to many risks with what could happen to effect the value of the property and the longer you keep it the more things that are eventually going to need fixing due to general use.

My GF's Dad has done a few places over the last year so going to have a word with him aswell, see if things have been moving OK for him.

I am looking into getting another flat, like a small flat in Newport centre and leasing it to pay the mortgage

I would arrange to speak to an IFA for some advice. It is a good idea, if it were me i would rent the property untill mortgage was paid for then sell the house and use that as my retirement fund (i plan to rent out 3 - 4 properties once ive sorted myself out)

But selling up after a few years also sounds like a good idea

Have been thinking of doing this for a while ages, went off the idea when everyone seemed to be snapping houses up, but have been thinking of it seriously again for the last month or so.

I know there are a few people on here who do it so was wondering if its still worth while? I have a decent amount of money to invest in a few properties (along with buy-to-let mortgages for the rest) and would look at buying places that need a bit of work doing as have a few close family and friends who do various construction type jobs.

I think my idea would more be to buy in lower value places with good rental (not after huge income from that) and has a good prospect to rise in value over the next 2-3yrs then sell up.