Buy to let flat

Author
Discussion

Matttrakker

Original Poster:

630 posts

147 months

Sunday 26th February 2017
quotequote all
I'm sure there'll be plenty of you lot who have been here.

I'm considering a buy to let flat but I'm new to this, not sure where to start.

I'm tempted by a flat as I think it'd be easier to look after.
I'd like to buy it outright. I can get a flat in Rushden about an hour from me for about£100k.

It's a 1 bed professionals flat it'd be about £600 pm
I get the pitfalls of being a landlord but know little about the financial side of things
Is it worth doing?

I deal with civil disputes between tenants and landlords in my job, but many of these involve no one ever having considered a contract!

Matttrakker

Original Poster:

630 posts

147 months

Sunday 26th February 2017
quotequote all
I completely see your point, I'm in two minds as have seen the crap side of it through work over and again.
Without going into too much detail

I'm thinking hedge my bets by it being bought outright I'm not costing myself anything in void periods
I'm looking for a decent fairly new build flat which would generally be rented by a single working 20-30 yr old
Close to the station and main arterials. Try and minimise risk really.

I'm not looking to be a property magnate, just beat a savings account, without a big risk

Matttrakker

Original Poster:

630 posts

147 months

Wednesday 1st March 2017
quotequote all
Thankyou everyone for your thorough answers, I'm not going to rush into this with everything very much up in the air to what will happen over the next few months, certainly more negatives than I had considered. I'll go away and have a good think