J
John15
New Member
Can someone please guide me in property investment as I am very new and inexperienced in this field?
I have very little savings which I am thinking of investing in buy to let property. With my savings it is difficult to find buy to let property that cover 25% deposit and after long search I have managed to find some studio apartment inside student hall in Birmingham exclusively for renting students and those apartments are managed by the university or other third party private company.
Those apartments have shared kitchen with own bedroom with ensuite with long lease.
I was told by the selling estate agent that there are approximately £3000 per annum charges on those apartment including ground rent, service charge and full management fees including finding student.
The rent will cover the cost of interest only mortgage, ground rent, service charge and management fees.
My goal is to sell this property back in 5 -10 years time for profit. . Do you think it is worth investing on those properties? If I have to buy normal property, it will take me another 2 to 3 years to save deposit.
Those properties are very cheap and affordable for me and am wondering if there are any loopholes although selling agent will not disclose any information. Has anyone had any experience or knowledge?
I have very little savings which I am thinking of investing in buy to let property. With my savings it is difficult to find buy to let property that cover 25% deposit and after long search I have managed to find some studio apartment inside student hall in Birmingham exclusively for renting students and those apartments are managed by the university or other third party private company.
Those apartments have shared kitchen with own bedroom with ensuite with long lease.
I was told by the selling estate agent that there are approximately £3000 per annum charges on those apartment including ground rent, service charge and full management fees including finding student.
The rent will cover the cost of interest only mortgage, ground rent, service charge and management fees.
My goal is to sell this property back in 5 -10 years time for profit. . Do you think it is worth investing on those properties? If I have to buy normal property, it will take me another 2 to 3 years to save deposit.
Those properties are very cheap and affordable for me and am wondering if there are any loopholes although selling agent will not disclose any information. Has anyone had any experience or knowledge?