Getting Started
To be successful in the Buy to Let market, you have to understand your market.
Property investment is a rewarding and exciting career or hobby but one that will require a significant amount of time and effort on your part. Not only could you be investing a significant chunk of your money, it will also take up lots of time to do the necessary pre-purchase research and the constant paperwork.
However, if you have got what it takes, then you could be on the way to running a significant property portfolio in very little time.
To begin with, you have to think about whether you have got what it takes to be a successful landlord. You should have excellent people and communication skills, be a proficient administrator, and have a good amount of cynicism.
There are a whole host of people you will have to deal with when you get involved in the buy to let market. You will need to need to get to know:
- mortgage lenders
- mortgage brokers
- surveyors
- solicitors
- letting agents
- free holders
- managing agents
- developers
- the taxman
- ...and of course, tenants.
Try to always make sure that you use recommended services, for example, someone who has been recommended to you by family or friends.
If you buy a new build home through Taylor Wimpey, you can use our panel solicitors, who we work with throughout the year and we know can get the sale through quickly and with minimum fuss. We will also be able to recommend Independent Financial Advisors to help you too.
Once you've done your ground work, you'll be eager to start Making Money on your Investments.