Residential letting is a business that’s growing day by day and if you are looking to start a small business letting could be for you. Purchasing a property can be in place of buying a pension with the choice to cash it in whenever you feel like it and have the choice to spend your money as you want to. In addition you can add to the portfolio as your business grows. If the plan is to provide for your old age you can add at a steady rate year on year.
A couple of experts are worth their weight in gold to you. Firstly, INDEPENDENT MORTGAGE ADVISORS
Before buying assess what you can afford to spend monthly assuming you had no income from the property and speak to an independent mortgage advisor who will give you details of a variety of mortgages available. Don’t be fooled by adverts from major banks they will only offer you their deals and you will not get details of the wide variety of offers you could receive from an independent advisor.
Secondly, A QUALITY LETTING AGENT
Once you have funding, in principle. its time to go in search of the first property of your portfolio. Before doing so speak to a quality letting agent who can tell you the best areas and types of properties to buy that will let well and provide you with a good monthly return. Sounds like you are ready to go but secondly, you must consider the running costs, legislation you must comply with and empty periods and other costs a landlord must face. A quality letting agent will help you with all of this and set you on the road to your first property.