Is this possible?

[anonymous-user]

As others have said, you haven't got a hope, unless you have some significant assets you could borrow against.

With respect, it sounds like you are trying to run before you can walk. Starting small and building up will carry far less risk and be less stressful and you'll be able to do it alongside your normal work.

[Guv10]

Webber3 said:

Guv10 said:

Exactly what I thought. Too good to be true. The yield is very high but it's correct and demand is very much there

The yield is about right. This isn't a simple buy to let. There's work involved managing 4 properties and possibly 20 rooms.

By the way is that £9k per month based on 9 months or 12?

12 months.

[Guv10]

Inkyfingers said:

As others have said, you haven't got a hope, unless you have some significant assets you could borrow against.

With respect, it sounds like you are trying to run before you can walk. Starting small and building up will carry far less risk and be less stressful and you'll be able to do it alongside your normal work.

I own my own property, well I have a mortgage!

I know it would be a huge task and as I said I kinda knew it would be out of reach

[southendpier]

You could try Funding Circle. You'd need to have a business though

[Sarnie]

Guv10 said:

I own my own property, well I have a mortgage!

I know it would be a huge task and as I said I kinda knew it would be out of reach

If you break it down into more simplistic terms, it sounds like this 'business' could simply be a Limited company that somebody has set up to buy these properties under. Therefore, from a lending point of view, there would be BTL lenders who would lend to a Ltd company, particularly an established profitable one. However, they would be expecting you to put down at least 25% of your own cash, not money borrowed from another bank....

[Guv10]

Maybe the bank would do a business loan for the whole 1.2m ? No need for any mortgages then. Imagine the loan repayments on that. Ouch

[Brite spark]

Guv10 said:

Rental income is high due to it being student rents. The demand is very high

Great until the uni decide to build lots of shiny new accommodation blocks.

[Guv10]

Brite spark said:

Great until the uni decide to build lots of shiny new accommodation blocks.

They've already done plenty of that! Only first years live in halls predominantly