Hi, I’m Peter Jones, author, property investor, ex charted surveyor.
You’ll see that I’m outside an estate agents, and very typically this estate agent also does lettings, and interestingly there’s actually more properties to rent in the window than there are properties for sale.
And I always suggest that if you’re starting out that you make the letting agents your best friends because letting agents are going to tell you what sort of properties are letting, what kind of rents you’re going to get, the type of tenants you’re going to get, but crucially they will tell you where properties are letting and where they’re letting really quickly.
Because one thing which I see with new and inexperienced investors, is that typically they focus on the deal. They’re looking to buy properties at a bargain price, we could call that BMV. But it’s not about buying properties at a bargain price, it’s about buying the right property which you are going to be able to rent out, because if you can’t rent it out you’re the one who is going to end up paying the mortgage, you’re the one who’s going to be eaten up alive financially if you can’t afford to pay over and above. You don’t want to buy a property which you can’t rent out because it’s then just going to be empty.
So, always start with a letting agents, find out what they know about the market, find out where you should be buying before you buy.
Here’s to successful property investing.
Peter
Peter Jones
(ex) Chartered Surveyor, author and property investor
https://thepropertyteacher.co.uk
PS. By the way, I’ve rewritten and updated my best-selling e-book, The Successful Property Investor’s Strategy Workshop, which is an account of how I put together my multi-property portfolio, starting from scratch and with no money of my own, and how you can do the same.
For more details please go to:
https://thepropertyteacher.co.uk/the-successful-property-investors-strategy-workshop
