Firs Time Buy to Let without mortgage t

[mikesmith4691]

Hello .
This is my first post here and I know only a little about this subject . I have about 100,00 UK pounds to spend on a property in Scotland . Im thinking to plonk the whole lot down as I cant get a mortgage as I work abroad though I am a UK ciitien born and bred .I wish to let it out and live cheaply on the yield . I am thinking to buy near a University or college and rent to students . Is this a viable idea or am I dreaming ? I only need about 400 pounds a month clear to make tworthwhile . Any advice is most welcome . Thank you .Mike

 

[totallyproperty]

Hi mikesmith4691

First of all welcome to the forum, which we hope you find interesting and informative.

There are a number of issues to consider with regards to your proposed Scottish property investment, which include: –

The forthcoming independence referendum, will this impact property prices in the short term?

University/College accommodation investments are very much in favour at the moment

A yield of 4% on your investment would seem reasonable

We have an expert in student accommodation on the website and I will ask them if they have any advice for you regarding your proposed investment.

Regards,

Mark

 

[Clarus]

Hello .
This is my first post here and I know only a little about this subject . I have about 100,00 UK pounds to spend on a property in Scotland . Im thinking to plonk the whole lot down as I cant get a mortgage as I work abroad though I am a UK ciitien born and bred .I wish to let it out and live cheaply on the yield . I am thinking to buy near a University or college and rent to students . Is this a viable idea or am I dreaming ? I only need about 400 pounds a month clear to make tworthwhile . Any advice is most welcome . Thank you .Mike

Hi Mike

Have a look at Robert Owen House on my listings (www.propertyforum.com/forum/uk-property-sale/26999-students-accommodation-glasgow-9-assured-net-yield-2-years.html). There are only a few left and they start at £54950. That would leave you funds to shop around for an existing unit.

High demands and good yields, around 9%, whether you can live off that I don't know. In my opinion the best property class for what you have in mind.

Please pm me direct if you need help.

Regards

David