Buy to let

[rufmeister]

We owned 2 buy to lets up until 6 years ago, now looking to get back in to owning at least 1 property for our future plans.

We aren't looking to gain short term, more of a long game, aiming for capital growth rather than monthly yield if thats possible. Even if it were to just wipe its nose clean at the end, our mortgage will have been paid for and we have an asset we can sell, thats the plan anyway.

Is it worth it currently?

We would consider a "do'er upper' to sell quickly and rinse and repeat but dont see much of a profit in them as we cant do the work ourselves.

[rufmeister]

Thanks, we don’t have a pension, do need to do something quickly, and there’s not much else I can think of.

It’s when I think of voids, repairs, non-payers etc that gives me flash backs to previous properties.

[rufmeister]

We are directors of a business that hopefully will
Have some value in the future, as part of our retirement plans.

We sold the other 2 properties as it started to become a stress with 2 non-paying tenants and I just had enough so sold them. After capital gains there wasn’t huge amounts in them as we were only in them a few years.

I’m looking at 10-15 years down the line to release the capital.

[rufmeister]

BoRED S2upid said:

But the right property and find the right tenants and you can mitigate a lot of that. Our tenants stay on average over 5 years each. We keep rents below market rate. So why wouldn’t they look after the property and pay on time every month? If they leave it’s going to cost them more every month that’s if they can even get another property. He’s bankrupt many wouldn’t touch him. I only ever hear from them when they want to spend their own money to improve the property.

It’s not all doom and gloom out there.

Good view on it, thanks.