13
Nov
'Research vital for buy to let investors,' says expert
Taking a long-term perspective and conducting thorough research are
the best approaches to take in order to be a successful buy to let
landlord, it has been claimed.
According to Chris Horne of Property Hawk many investors become
distracted by short-term gain and "speculative froth".
However, in order to ensure they invest in a property that will
give them a good return, it is essential that investors consider
the long-term prospects of the property, Mr Horne said.
"Generally the speculative froth captures a lot of people out. This
is a long term business and people should not be attracted by the
fact that property prices went up by X per cent over six months.
They should be thinking more in terms of 15 years."
Just as important is making sure you view a range of houses before
committing to the purchase, he added.
"You need to do thorough research and maybe look at 50 properties,
putting in 50 offers, ending up with two or three that are serious
contenders and going forward that way, rather than buying the first
place you see."
