Real estate investment- northern UK for a non-british investor

[Matei Popovici]

Hello everybody,

I am a Romanian (so, I have European passport if that counts in some way),looking to invest in the UK.

I did some research and found that northern England (specifically Manchester and Liverpool) are considered good places to invest. The reason I am looking into these places is that the prices have dropped significantly and currently on the rise, plus the fact that these are strong and developed cities, the pound has dropped and I feel more comfortable doing business in a place like great Britain, with the English, the law abiding institutions.

I wish to buy a house and let it. I would like to buy a house with 100% down payment of about 75-100K pound.

The problem is that it is quite difficult to find objective information on the web, so I would be happy to get your opinion on several aspects:

1. Is the sum I mentioned enough to buy a reasonable house (=in a good enough condition that I can feel safe I can find someone to live in it no matter what).
2. What type of house can I find in such sums? (I was generally thinking of a 2-3 bedroom flat, that I can let to a young couple or maybe to partners)? Would you recommend buying a different type of property?
3. Although I will be visiting the UK for such a purchase, I will not be able to manage everything involved in the buying/letting of the property. Hence, I was wondering what is the best way to approach such a buy, in your opinion? Is it possible to find a reliable company that can deal with such issues on my behalf for a commission? Is it something that people do? how reliable is it? and how much do they usually charge?
4. All in all, what return can I expect?
5. Any specific recommendations about regions or any other tips as to the assets?
6. Any other thoughts or tips?

Thank you very much!!

 

[realdeals]

In reply to some of your questions:-

1. Is the sum I mentioned enough to buy a reasonable house (=in a good enough condition that I can feel safe I can find someone to live in it no matter what).
Yes, prices are available in this range but you might have to move away from the busy Liverpool/Manchester city centres.

2. What type of house can I find in such sums? (I was generally thinking of a 2-3 bedroom flat, that I can let to a young couple or maybe to partners)? Would you recommend buying a different type of property?
A property with 2/3 bedrooms seems sensible as this might appeal to couples/families as well as friends.

3. Although I will be visiting the UK for such a purchase, I will not be able to manage everything involved in the buying/letting of the property. Hence, I was wondering what is the best way to approach such a buy, in your opinion? Is it possible to find a reliable company that can deal with such issues on my behalf for a commission? Is it something that people do? how reliable is it? and how much do they usually charge?
The UK property market is well developed and there are many companies able to offer such services. You may be able to find such companies on this forum.

4. All in all, what return can I expect?
It depends on what you are looking for. There are single yield rental properties offering a mix of capital growth and rental income. There are also properties offering double digit rental yields although there would be lower prospects for capital appreciation. In time you could maybe look at the HMO market.

5. Any specific recommendations about regions or any other tips as to the assets?
The higher north from London you go there is a perception of greater value for money and more attractive rental yields but you will need to do your research. I would place great emphasis on infrastructure in the areas you are looking as the commuter market can be lucrative.

6. Any other thoughts or tips?
Dont over stretch your finances, invest on a long term basis and make sure you research areas of interest in great detail.

 

[Russell M. Henderson]

Sounds like you will have to get somewhere in a r

Hello everybody,

I am a Romanian (so, I have European passport if that counts in some way),looking to invest in the UK.

I did some research and found that northern England (specifically Manchester and Liverpool) are considered good places to invest. The reason I am looking into these places is that the prices have dropped significantly and currently on the rise, plus the fact that these are strong and developed cities, the pound has dropped and I feel more comfortable doing business in a place like great Britain, with the English, the law abiding institutions.

I wish to buy a house and let it. I would like to buy a house with 100% down payment of about 75-100K pound.

The problem is that it is quite difficult to find objective information on the web, so I would be happy to get your opinion on several aspects:

1. Is the sum I mentioned enough to buy a reasonable house (=in a good enough condition that I can feel safe I can find someone to live in it no matter what).
2. What type of house can I find in such sums? (I was generally thinking of a 2-3 bedroom flat, that I can let to a young couple or maybe to partners)? Would you recommend buying a different type of property?
3. Although I will be visiting the UK for such a purchase, I will not be able to manage everything involved in the buying/letting of the property. Hence, I was wondering what is the best way to approach such a buy, in your opinion? Is it possible to find a reliable company that can deal with such issues on my behalf for a commission? Is it something that people do? how reliable is it? and how much do they usually charge?
4. All in all, what return can I expect?
5. Any specific recommendations about regions or any other tips as to the assets?
6. Any other thoughts or tips?

Thank you very much!![/QUOTE

 

[Russell M. Henderson]

You will probably only be able to find a house far away from a decent town for that price.

 

[Longterminvestor]

The further you move away from the main towns/cities the better "value". However, I would always ensure there are good transport links. For example Manchester has the tram service.

 

[Longterminvestor]

Don't make the simple mistake of expecting regulations/markets in a foreign land to be the same as your home country - there are even massive differences across EU markets. Take your time - there is no rush, especially at the moment with all of this uncertainty!