A
Aaronsg
New Member
Hi everyone.
I'm new to the forum and very new to the whole idea of investing through BTL. The purpose of this topic is to try to get an understanding of the kind of strategies most investors follow and would recommend. I am currently living outside the UK for work purposes but I wish to build a property portfolio back in the UK.
I understand that with BTL's there are the two main types which are single family homes or HMO's. I have been trying to research both types to see which would be best for me long term and have discovered pro's and con's of both. for example a single family home may be cheaper and easier to set up, however, the rental income would usually be less.
I've been referred to a company which specialise in buying inner city houses and renovating them for you and obtaining all the necessary licences to make it HMO ready, then letting the property out to young professionals and/or students. This company charges 15% of the rental income for a fully managed service which is attractive to me as I am outside of the UK. Are there any other reputable companies that off this kind of service as I have heard that this figure is rather high.I have also heard of other people buying their own small, cheap houses and just renting to a single family for a rather high ROI too. So I'm a little undecided about which approach to take under my current situation.
My target is to try to pay the mortgages of the properties off as soon as possible (10years ideally) and take the hit over the ten years or so to allow me access to the full rental income earlier instead of paying a mortgage over 20yrs+. I am currently 28yrs old and I would like to invest in such a way that I don't have to rely on a salary for my income once I reach the age of around 45yrs old and would be looking at a few houses (3-5) over the next 6years. (my career isn't the kind of job I want to be doing until im 67!).
Sorry for the long post but I just want to explain my circumstances and based on what I am looking for in the next 15yrs or so to be financially free and hopefully some of you who have the experience can guide and advise me on the correct decision. Thank you.
Regards
Aaron
I'm new to the forum and very new to the whole idea of investing through BTL. The purpose of this topic is to try to get an understanding of the kind of strategies most investors follow and would recommend. I am currently living outside the UK for work purposes but I wish to build a property portfolio back in the UK.
I understand that with BTL's there are the two main types which are single family homes or HMO's. I have been trying to research both types to see which would be best for me long term and have discovered pro's and con's of both. for example a single family home may be cheaper and easier to set up, however, the rental income would usually be less.
I've been referred to a company which specialise in buying inner city houses and renovating them for you and obtaining all the necessary licences to make it HMO ready, then letting the property out to young professionals and/or students. This company charges 15% of the rental income for a fully managed service which is attractive to me as I am outside of the UK. Are there any other reputable companies that off this kind of service as I have heard that this figure is rather high.I have also heard of other people buying their own small, cheap houses and just renting to a single family for a rather high ROI too. So I'm a little undecided about which approach to take under my current situation.
My target is to try to pay the mortgages of the properties off as soon as possible (10years ideally) and take the hit over the ten years or so to allow me access to the full rental income earlier instead of paying a mortgage over 20yrs+. I am currently 28yrs old and I would like to invest in such a way that I don't have to rely on a salary for my income once I reach the age of around 45yrs old and would be looking at a few houses (3-5) over the next 6years. (my career isn't the kind of job I want to be doing until im 67!).
Sorry for the long post but I just want to explain my circumstances and based on what I am looking for in the next 15yrs or so to be financially free and hopefully some of you who have the experience can guide and advise me on the correct decision. Thank you.
Regards
Aaron