Since the housing act of 1988 was introduced we have seen a huge shift in the way people are investing their money.
This act
created:-
ASSURED SHORTHOLD TENANCY AGREEMENTS (A.S.TS)
And with this came a safer means of Residential property investment.
The current buy to let market is "BOOMING" and has gained much momentum
in the year's preceding the above act being introduced.
The
Sting
Although we mainly hear the success stories about Residential Property
investments there are many Investors who have been "STUNG" and left
out of pocket mainly due to the following: Ð
-
Poor advice
-
No advice
-
No research
The
Truth
The Truth is to build a successful / Profitable property portfolio it
takes time and patience and you must understand it is not a risk free
way to make money.
The
Advice
We feel it is paramount that when investing in property you have all the
answers prior to making a commitment and this advice which you receive
should be free:-
eg.
- When buying a property for investment what is the "real" rental income going to be?
- Are there any service charges applicable to the property? (This will affect your overall gross forecasted rental income).
- What is the area like you are looking at investing in?
- What type of tenant are you going to attract? (Student, Professional, DSS, etc).
- When you purchase is the discount being offered a real discount or is it simply added to the overall asking price?
- Is there any equity in the property? (As you may wish to use the equity as deposit on another Property purchase).
- The amount of information you require is vast so prior to investing in property ask for advice and any agent worth its SALT will offer this advice free of charge.