Originally Posted by
Volvomanuk
Sounds a nice plan, don’t forget to factor in the running costs of letting 1 house then multiply it by how many you want.
Set up costs apart from the initial investment could include bringing the house up to not only a liveable standard but from a safety aspect as well. Last house cost 17k new kitchen, bathroom, re plastered decorated, low maintenance gardens with decking, new soffits windows doors with all rooms upstairs with fire escape windows, electrical system checked fitted updated and tested same with gas, house alarm, all Flooring and tiles, safety blinds incase they have children.
A profit of £250.00 per month could be blown away by a broken boiler or leaking roof and leave you in debt, have a good team or workmen you can call on or leave it to the agent and pay through the nose.
One bit of advice don’t do it on the cheap it won’t work especially if you plan to expand.
15-20 properties sounds nice make sure you have at least a grand per house available for emergency repairs, if you look after your tennent’s they should look after you.
Most people worry when a storm approaches about possible damage to there property a landlord is no exception I worry multiplied by 9.
Good luck and have fun.
Real family’s live in these don’t ever forget that
Add in to that the likelihood of raising interest rates and stagnant/little capital appreciation.
Not sure I’d like to be starting off on a BTL journey at present
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