General (main property discussion here) - new investor seeking advice

Im an investor, and i have been investing in the USA. I just moved to london and want to get started. I am somewhat knowledgable on buying to let, but i want to know more about quicksales and foreclosures/repos. Can someone give me some advice on the best ways to source properties? Is there any advice or websites you can direct me to?

Ade,

To some extent this is difficult info to get hold of as it is everyone's own secret. Hopefully you will get some helpful replies all the same.

This site was started to help people like yourselves source properties and again I hope it will be of some use.

Also please be aware that there are rogue companies out there which will happily help you spend your money and take a fee.

Julian

Ade, when you find out let me know.

FS

The most important part is the research imo Ade.

People have different approaches, personally yield is the bottom line for me. When I find an area with reasonable yields, I then go about doing my research. I drive around the area, calling in at letting/ sourcing agents in a friendly manner asking for their thoughts. They're often very forthcoming and I build up a picture of rentability and void risks.

Others do it differently though, I'm sure!

Short and simple, buy close to a good University which has a shortfall of accomodation and then multi let to students this way you will get maximum returns.Keel University.

Alex Mehrban Oakhill Mortgages 0870 064 1111 info@oakhillmortgages.co.uk

Interesting you think that Alex. Couple of issues I can see with students:

1. They often only want to let the property for 9 months of the year - do you make them pay for the full twelve or accept the voids? 2. They aren't always the best at looking after money - do you go through the hassle of parental guarantees? 3. They sometimes don't take the best care of a place.

I'd be interested in how you find it/ whether you charge a premiuim for the added risks Alex?

Best regards

John

John, a good 'student' to have for the multi let are law students. I live in Chester and the local law students are thrown off their course if they default on payments. Not sure if that is a national rule, but their parents tend to make the payments for them, all year as well!

URBANPULSE.CO.UK IF ANYONE WANTS ADVICE ON INVESTMENT IN GLASGOW....I WONT EVEN TRY THE HARD SELL

Julian,

Interesting point on the law student front. I have students lets but never realised about deafult in payemts.

Thanks,

FS

Hi John yes 9 mths your right, and parents go guarantor, very good yeilds very good so the 3 mth void is nothing compared to the profits think 4 roomes student house costs 90K 4 students at £60 per week each at 44 weeks. ill let you do the maths and tell me if the yeild is good and worth the 3 month void.

Alex oakhill mortgage services ltd 0870 064 1111

just over 10%.... definitely worth considering. any capital growth left? any agents fees in that?

tom

10% agent fees Tom. As normal unless you do it yourself.

Alex

alex, i was referring to your yield. seems no bad. is there any capital growth left?

tom