If you are considering making an investment in the Buy To Let (BTL) market, this article maybe of use to you.
The very first question you should consider is “Is getting into the property market right for me” Until you have answered this question you should not proceed.
Paul Collins lettings agent in Lincoln advises all of his serious property investors to seek professional Wealth Management Advice before starting the search for properties. Some end up not investing in property at all.
There are many more questions investors should be asking, they include:
- Is now the right time to invest?
- Where should I buy?
- What should I buy?
- What type of tenant do I want?
- How can I protect my investment?
- What is the current market like?
So, where do you get the answers? There are many so called ‘experts’ in the market place offering BTL advice, with many offering introductions to Below Market Deals. Some claim you can become debt free, or they will make you into a property millionaire and help you create a multiple property portfolio using other people’s money or assets. One this they all have in common, is they charge a fee and brain wash you with hype and hysteria. Remember little in life is free and usually when it is as easy as those ‘experts’ claim there is a major risk. Not long ago many of these ‘investment experts’ were telling us how wonderful the sell and rent back deals were – now out lawed by the FSA.
In my opinion the real ‘experts, in the industry are the Letting Agents. Find a mature letting agent in your area and you will most probably get all the advice you are looking for without facing a charge. The information gained from a lettings agent that has no involvement with income from selling properties will be unbiased and honest.
Is now the right time to Invest! Undoubtedly the answer is yes, however if are you looking for capital growth or Income? The days are gone that property doubled every 10 years or so – therefore I believe you should be looking at property investment as a ‘long term ’project if looking for capital growth.
This article was written by Paul Collins owner of Belvoir Lettings Agency Lincoln. Paul offers free advice and free property visits to all investors who are considering buying. For more information or to ask Paul a question please email paul.collins@belvoirlettings.com
