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10 top points to consider when investing in Buy-to-Let

06/03/2015

Buy to Let properties have proved to be a great investment. Firstly you earn money in two ways, Rental Yields (rent paid less maintenance and running costs) and Capital Growth (over time the values of property rise, capital appreciation is how you will profit from your property at a later date). Favourable financing conditions have meant that investors have used their paper profits (equity) from capital growth to borrow additional funds to expand their property portfolio.

Successful investors find that the most important but basic things to look at to guarantee their success were as follows:

  1. Investigate the chosen property, transport links, employment levels, local schools
  2. Make sure you do your research and compare prices for rental prices of the property and look at the average prices.
  3. Find out all your options when getting a mortgage. A whole of market broker can be instrumental in gaining the best deal for you.
  4. Have a look at what properties were sold in the area for either on Land registry, Rightmove and the like
  5. One way to measure the demands for tenants is through placing an ad on a classified advertising site
  6. Have a good idea of who you would like your tenant to be.
  7. Make sure that there are quality letting agents available in the area.
  8. Confirm your findings of comparable properties through speaking with the letting agents in the areas.
  9. Some estate agents unlike investment companies will not take the property off the market, leaving you in a position of being gazumped. So, its worth completing as soon as possible.
  10. Confirm if the property was previously owned by a buy to let landlord, It may be possible to purchase with a tenant already in place avoiding any void period.

 

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