advice on buying a house to rent out required?

If we all clubbed together we could start a Bluemoon rental portfolio from the cash we raise.

Could all interested parties leave their contribution under my seat at the Chelsea game and I will keep you all informed as our investment grows.
 
A few years back I rented out Worsley towers for a few years to a bird I worked with.

Agreed rent was £650 a month paid on the first.

The arrangement ended up with my getting to shag her once a month in exchange for free rent.

I think the term is prostitution.

Worked well for me.
 
I got out.
After insurance, mortgage costs of buy to let loans, agents fees, annual checks for gas, periodic refurbishments, periods without tenants, non stop bother with minutae, the tiny return over carefully structured investments was minuscule.
Then I got hammered by capital gains tax.
 
A legal minefield, health and safety, tenants rights, gas checks, electricity checks, agents fees etc, make sure you do your homework,...what happens if your tenants move out, you can't re-let for several months but you still have your mortgage payments to meet?

If you are sure, go for it, but look before you leap, it could end in tears....yours......:)
 
worsleyweb said:
A few years back I rented out Worsley towers for a few years to a bird I worked with.

Agreed rent was £650 a month paid on the first.

The arrangement ended up with my getting to shag her once a month in exchange for free rent.

I think the term is prostitution.

Worked well for me.
Click to expand...


£650 for two minutes? you could have had a weekend in the Czech "lovely rubbery" palace for that...
 
worsleyweb said:
A few years back I rented out Worsley towers for a few years to a bird I worked with.

Agreed rent was £650 a month paid on the first.

The arrangement ended up with my getting to shag her once a month in exchange for free rent.

I think the term is prostitution.

Worked well for me.
Click to expand...

You paid £650 a month to bang a bird. You must really have liked her.
I used to resent even buying a girl a drink in a pub/club.
 
If you get a standard mortgage and your tenants burn your house down you could be screwed. Think it through.
 
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