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Do we buy garages?

(3 Posts)
SatrialesPorkStore Wed 27-Apr-16 11:22:47

Myself and fiancé are not yet on the property ladder - just renting. We're looking to buy but not where we live (SE is too expensive and we want to go north) so that wouldn't be for a while yet.

We're toying with the idea of buying a couple of garages to rent out but have no idea where to start!

We could do within the London-Brighton area.

Any ideas/advice? We are totally clueless! Much appreciated.

fuzzyduck1 Tue 04-Oct-16 17:45:00

We've toyed with that idea to. You can find garages anywhere. Gumtree auctions even estate agents sometime have them. We were looking east anglia prices 8-12'000 rental 40-60 a month.

Ended up with a studio flat better return on investment.

JoJoSM2 Sun 09-Oct-16 18:51:47

Do your numbers carefully. You'd tie up a lot of cash and any repair could easily cost you a year's rent. It would seem that you'd be better off getting a buy to let with a mortgage.

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