Buy To Let.....

[aceboy]

Afternoon, just starting to think about the Buy To Let market.

Do people still take this route as a long term investment?
Are the yields still ok? Or have I missed the boat
Do you buy via agents or at auction?
Do you use a letting agent?

Thanks

[ChimpMaster]

See here now

Afternoon, just starting to think about the Buy To Let market.

Do people still take this route as a long term investment? - Yes
Are the yields still ok? - Yes
Or have I missed the boat - No
Do you buy via agents or at auction? - Agents if you're not experienced
Do you use a letting agent? - No

Thanks

[MarillionFan]

Evil speckulant

AtW

[BrilloPad]

Afternoon, just starting to think about the Buy To Let market.

Do people still take this route as a long term investment?
Are the yields still ok? Or have I missed the boat
Do you buy via agents or at auction?
Do you use a letting agent?

Thanks

Are you planning to invest cash or get a mortgage?

[sasguru]

Well I'm about to invest a significant chunk of cash in BTL in London
I will be going for as premium a property as I can afford because (1) generates higher rents (2) you can rent to a professional and ask their employer for a ref, this usually makes them treat it right and (3) that means you don't need an agent.
If you're looking after it yourself , it can be a pain, so I'll be going for just the one - however the amount I have to spend means I can generate a rent of at least £2K per month - this is intended as a pension top up.
As for future prospects rents are at record levels, and I can only see them going up for prime property.

[MarillionFan]

Well I'm about to invest a significant chunk of cash in BTL in London
I will be going for as premium a property as I can afford because (1) generates higher rents (2) you can rent to a professional and ask their employer for a ref, this usually makes them treat it right and (3) that means you don't need an agent.
If you're looking after it yourself , it can be a pain, so I'll be going for just the one - however the amount I have to spend means I can generate a rent of at least £2K per month - this is intended as a pension top up.
As for future prospects rents are at record levels, and I can only see them going up for prime property.

So you're buying a property for £200k then. I'd have thought you'd have been looking at more

[northernladuk]

Do people still take this route as a long term investment? YES

Are the yields still ok? Or have I missed the boat- Jump it, its lovely.

Do you buy via agents or at auction? - Either, partners friend works in Estate Agents locally and they have a guy that comes in every two weeks and offers up to 25% off all the new 2+3 bed properties that have come in recently. They even list them ready for him when he comes in so he can see them, put offer in and leave. He has had 2 accept in the last 6-8 months through desperation. There is power in not being in a chain.

Do you use a letting agent? - YES, CBA with messing about with tenants moaning. For £70 (taken off your tax liability as well) an agent can do it.

[sasguru]

So you're buying a property for £200k then. I'd have thought you'd have been looking at more

Quite a lot more.
But I'm thinking of getting a one bed close to the City - not much more than £2000 rent then, although there may be scope for more depending on exactly where it is.
Have to look first - haven't been in the property market for years, don't know what's what nowadays.
My market is someone working in the City looking for a pied-a-terre.

[redgiant]

Do people still take this route as a long term investment? Yes
Are the yields still ok? Or have I missed the boat
Get currently double the mortgage repayment in rent so it's working out well at the moment.
Do you buy via agents or at auction? Via agent. I guess if/when I have the time I could look at auctions but they are usually during the week and of course to be a distance or phone buyer you need to be available at that time which I am invariably not.
Do you use a letting agent? Yes. Play them off against each other to get the best deals. With so much demand for rented property in good areas of London they are very keen to get you onboard.

[redgiant]

Quite a lot more.
But I'm thinking of getting a one bed close to the City - not much more than £2000 rent then, although there may be scope for more depending on exactly where it is.
Have to look first - haven't been in the property market for years, don't know what's what nowadays.
My market is someone working in the City looking for a pied-a-terre.

A friend of mine bought a 1 bed/studio opposite St. Paul's a few years ago for about £250k and it rents for about £2000 pcm. However service charges are high generally in the city though so it's more like £1600 pcm.