1 bed investment flats in W. London accessible from M4

[FasterStronger]

I am looking to buy initially 2 X 1 bed flats in cost around £300k each (cash) then once I have tenants, a better understanding of costs, add a third using a mortgage to put some leverage in the system.

any tips or flaws in the plan? I am planning on setting up a limited company but have not take legal advice yet. I obviously will do but want to know the basics before seeking professional advice. many thanks.

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any comments from experienced LL MNers?!?

Get a job.

I have a job - that's what generates the money to invest.

gerk - am planning on doing lots of pounding the streets. I have done well in previous properties bought to live in and enjoy sniffing out an opportunity. and the risk.

also am talking to people in RL who know different areas of London.

regarding capital growth v. income - I am going to look at current price v rent and suss out the area. I guess ultimately capital. I bought in the east end early and ended up in a very cool area.

why a number of properties? spreading the risk. one property seems - a bit daunting! maybe I need to get the first one, then evaluate and apply your comments and see what next.

Can't see a problem with lack of demand around that area. Sounds good to me. Property very strong around here. We bought 2 bed at 265k and it's now worth 310k 3 yrs later. Stones throw from m4. I would buy near a train station for commuters.

sadly earning money from being a landlord is considered a crime by many on mumsnet, as you will see from one of the responses. They have no objection to bankers to whom they pay mortgages. (not that I object to bankers either)

for those of us with brains - don't forget to budget for insurance, including coverage against malicious damage and tenants that won't pay and won't leave. Many councils tell people to stop paying and wait to be evicted in order to get a council flat. You also need to budget for agent fees, referencing, check in and out and of course fixes and maintenance.

special - I can cope with The Judgement Of Mumsnet

all the money has paid corporation tax already so let the whingers whinge.

i have capital in my main company that i don't need so i want to lend it to the property company so it makes a return rather than being eroded by inflation (subject to legal advise).

in the meantime i wanted to channel the collective MN knowledge to see if the plan was flawed from the start...

Hmm I thought 2 beds were considered better for letting, more demand?