Luton for an investment property- good or bad idea?

[bananacarnival]

Hi,

Ive got about 30k to invest, and would like to buy a small 1 bed flat that would rent out easily. London prices are out of my range (don't want a big mortgage , ideally spend 80k)

Luton is close (live in NW London ) and flats can be cheap ie around 70k.

After doing a quick Google search, I've found lots of negative responses about the area, apparently its high on crime etc.

I don't want an extremely stressful investment property where I'm always chasing the rent. Will this be the case in Luton, are there other areas you'd recommend not too far from London (up to 2 hrs drive )

Many thanks

Luton is not THAT close and train fares are extortionate. And yes, it is cheap for a reason. There are much better areas but £80k won't buy you a shed in those.

your best bet is to contact the local letting agents who will know their market.

Buy to lets with parking tend to be very popular with airport workers and rent out quickly (rents actually higher than much nicer places near Luton).

I'm told that Indigo are the best agent in Luton for that sort of thing (have friend with buy to let properties in Luton) . Might be worth calling them.

You would need to pick your area very carefully IMHO.

Agree that properties near the airport rent out easily - Vauxhall Park is probably cheaper but Wigmore is seen as a naicer area although really most people can't distinguish :)

PM me if you would like a bit more information.

Many thanks for your replies. Still a bit confused. Feetheart I probably will pm you. Thanks