anybody know Nottingham? where to BTL?

[user1467297746]

Its not far from where I am moving to and looking to do a BTL

is it better to get a flat or a terrace house?

any areas to avoid?

Lenton is a great place to live. Radford is very rundown. And rough in parts.

Well, two doer-uppers on that budget is very possible.

Understanding the type of tenant you can expect will help inform your calculations of costs e.g. are you ever likely to have to evict someone? What condition might your properties be left in? There's no right answer to that - but there's an average answer based on probabilities.

Yes, HB can be a massive pain (see many other threads here) but it depends what you expect, are prepared to deal with and your margins on the relevant properties.

Issues with HB include payment in arrears, inability of tenants to pay a deposit (so no personal financial stake in good care), possibility of erratic payment, even suspension of payments if an investigation occurs - all issues with the system.

I expect we would have to decorate to some extent after every tenant?

If it was lower end of the market then we should just go with a basic and easily touched up paint job..

Not sure whether carpet is a better idea compared to wooden laminate floor? laminate could be longer lasting but if damaged might be more expensive to replace?

I guess there are costs for testing of electrical / gas every 2 years? ( need to check that one )

odd plumbing call out I expect?

Insurance required.

I will have to search for threads on HB

Gas test annually.
Electrical test not mandated except in hmo ( check)
Hmo regs for your target market.
Insurance - buildings, contents, malicious damage, legal expenses, rent guarantee. For all tenants.

Lenton/ Dunkirk area is reasonably priced IMO and there are lots of students and Qmc staff looking to rent in this area. Ok facilities with several pubs, small shops and a decent sized tescos express, sainsburys local and full sized sainsburys in the area.

Sherwood is also worth a look.

One thing with students, this is normally done as a HMO (house of multiple occupancy) to do this requires a licence and Nottingham city council will not issue any more licences in certain areas, so if the property doesn't come with this licence (and I doubt in your price range it would in lenton) you may find yourself not able to tap in to the student market.