I am trying to figure out whether buying a tiny place and letting it out is a sensible medium term plan for me. I am in the fortunate position that I can buy a very small place outright, no mortgage. So I don't need to worry about interest rates etc.
My main worries are not being able to find a tenant, and also if in a few years time I want to free up my capital and sell up, but am stuck in a negative equity or a dead housing market.
Can you guys advise me on these things, or maybe suggest where I can look for advice?
- are property prices likely to nose dive after brexit? if so, is now a stupid time to buy?
- how do you find out what the rental market is like in an area? I have done research about prices etc, but what about general demand?
Thanks so much x