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Buy to lets

(11 Posts)
RoseVase2010 Tue 13-Jun-17 18:44:22

AIBU to think now is a stupid time to be buying a buy to let property?

Siwdmae Tue 13-Jun-17 19:05:28

Why? I bought another last week. I'm not in it for the rent, just the long term increased equity.

ThroughThickAndThin01 Tue 13-Jun-17 19:06:32

What's your reasoning OP?

MovingOnUpMovingOnOut Tue 13-Jun-17 19:08:04

Well it depends doesn't it? B2L with massive mortgage and slim rental return possibly daft unless capital increase is likely to be significant. B2L without mortgage will likely yield a higher return than any deposit account, bond or gilt.

EyeHalveASpellingChequer Tue 13-Jun-17 19:15:09

Guardian link

trufflecake Wed 14-Jun-17 02:34:19

YWBU

It is bad news for pretty much everyone but yourself.

It needs to be controlled as it has really f*cked things up and people can't resist the tempation of making easy capital gains.

So a stupid decision if you care about the future of our wider society, yes.

Groupie123 Wed 14-Jun-17 06:41:08

What's your reasoning? Brother just bought a flat in cash for £80k and is now charging £1,500 in rent. He'll be making a profit in 5 years!

peachgreen Wed 14-Jun-17 10:22:16

@Groupie123 Where on earth can you buy a flat for £80k and justify charging £1500 in rent?!

Peaceandharmony7 Wed 14-Jun-17 10:35:34

I have always been against this type of investment on moral grounds but if you have no morals then fill your boots.

corgiology Thu 15-Jun-17 09:31:54

I'm buying one at the moment.

Interested to see your reasoning.

specialsubject Thu 15-Jun-17 09:44:35

Article three years old and hysterically biased. Silly me, refurbing the warm, clean dry property with no damp patches or rotten wood before the first tenant, and then doing it all over again after it was trashed.

Seems that unless I let out a shithole I'm not a landlord.

To answer your question - make sure the place has a good epc, no mortgage and you have insurances or funds to cope with voids and tenants that stop paying. Then ensure you can fix what breaks or wears out. If you can't do all those things, you have no choice but to watch your money vanish with inflation.

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