So you have decided that you want to invest your money in property and the buy to market, despite recent gloominess, looks the way to go. While there have been bumps in the road recently with new government legislation among them, there is still a massive demand for rental properties as people cannot get mortgages and local authority properties are scarce. The first step is getting the best property deal but where should you look?
For a lot of landlords, the estate agent is still their best friend when it comes to finding the right properties and getting the best deals. So if you plan to buy a property in East London, for example, then you should make contact with East London estate agents. Let them know what kind of property you are looking for, what kind of budget you have and any other information you have – the more they know, the better they can work.
Another traditional route to find the best deals is to look at property auctions. While these might seem outdated in the internet age, they still serve a purpose. If you have the cash ready to go and are willing to do a bit of bidding to get the right property, you can pick up a bargain. Remember these properties often need a bit of work doing to be liveable but if you are up for this, then this is a route to consider.
A big growth area in recent years has been the quick sale house company who offer to buy up properties far quicker than an estate agent could manage. The down side of this is that they often get the seller less than the market value. As a buyer, this might mean you can get a bargain with the cost of the house but make sure you are very clear upfront what the company will charge for this service and have all the terms reviewed by a solicitor – there are genuine companies out there in this market but unfortunately also less genuine ones.
The internet is a source for information for every aspect of our lives and finding the best deals on property is one of them. Sign up with all the big names in property sales and register your interest in an area and for buy to let properties. It is similar to working with an estate agent, apart from the fact that you don’t get the face to face service and you can’t sit down with someone in person to review everything.
Buying new properties
Recognising the need for rental properties, some big names in home building have also started to sell properties specifically for the job. Barratt Homes is one example and they have a whole area of their website dedicated to landlords who are looking to buy one of their properties to rent out. They offer various schemes to make this more appealing such as their Leaseback scheme to give guaranteed rental income and this might be a step worth considering for new landlords.