Real Estate Bargains

4 Responses to “What Are Your Opinions On Buying A House Just To Let?”

1. Cala on January 29th, 2010 at 4:28 pm

   There are too many variables for me to give a straight answer.
   If you will have to renovate the property then it can be a long time before the rent even covers the renovation costs.
   If you get a good tenant then you’re ok – get a bad one and it can cost you a lot of money.
   There are lots of thinks to take into account. Consider the costs of maintenance, insurance, agents fees etc when working out a profit margin. If a tenant stops paying or the property is not let for a period, can you still meet the repayments?

2. lilprinc on January 29th, 2010 at 10:06 pm

   Its a good idea as long as you buy in the right area. I would suggest a modern flat for young, single/couple professionals. It should be cheaper then buying a house and you can still charge a high price. Make sure you do all of the theory before you buy anything. What is the best mortgage you can get. Or are you going to use your own money. in which case you need to make sure you are financially secure and will not lose too much if this doesn’t work. What is the optimum price people are willing to pay. from this work out how long it will take before you can start making a profit. it has the potential to be a good idea in the long run-not short run as you will see no financial gain really until you pay off the mortgage etc.-but make sure you do all your figures and think realistically about how commit edd you are to the whole thing. you have to be the land lord as well you know and may have to be prepared to spend money on fixing things or other expenses and you will need to beavailablee to the tenants if anything goes wrong.

3. The One on January 29th, 2010 at 10:21 pm

   If you got the money to do that then why not at the end of the day if you can rent it then the tenants are paying your mortgage.The only really problem is if you cant get the tenants then you will have to pay for it.

4. Pearl on January 29th, 2010 at 11:33 pm

   It’s a good idea, you can make good money out of it, make sure you don’t have the tenants from hell though.