BTL Still worth doing ?
Discussion
Have long pondered doing BTL but never really been in a position to do so, myself and my wife are mid forties and our house is owned outright, was thinking that I have 20 years left to work or therabouts, if I started a BTL now then by the time I am ready to retire that the property, assuming 20 years of the rental paying the mortgage would be paid off ?
Not looking to make any money each month, just to get it set up and rolling and building equity in the property and then when we retire that would then become an income at that point.
Appreciate it can be a pain in the arse, a mate of mine had bad tenants and lost ten grand before he managed to get them thrown out.
Is there any way of working out what kind of rental you would get based on a certain property value or is it just market forces and demand ?
What is the best way to start learning about all this stuff ?
Not looking to make any money each month, just to get it set up and rolling and building equity in the property and then when we retire that would then become an income at that point.
Appreciate it can be a pain in the arse, a mate of mine had bad tenants and lost ten grand before he managed to get them thrown out.
Is there any way of working out what kind of rental you would get based on a certain property value or is it just market forces and demand ?
What is the best way to start learning about all this stuff ?
Cheers all, going to start properly doing my homework, sounds like my approach of long term gain is the way to look at it, the get rich quick thing is perhaps over and its more of a slow burner.
Do those who do BTL tend to live near the property to "keep an eye on it" or is that a bit pointless ?
Do those who do BTL tend to live near the property to "keep an eye on it" or is that a bit pointless ?
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