Question: I am considering buying to let but am confused by all the jargon.
Answer: It is no surprise that during an on-going period of soft sale prices and increasing letting activity that more and more people are looking to increase their investment portfolios or to transfer other investments into property.
After all, many of today’s millionaires made their fortunes by buying property at the end of the last recession.
It is important however to keep your feet on the ground and not to be over ambitious.
Property is a medium to long term investment and this is true more now than ever before. Your biggest profits will come from capital growth and this takes time.
It is advisable that all buy-to-let investors should look at any property purchase as at least a five – ten year investment, so if you are expecting to buy an investment property and retire on the profits a year later you will be sorely disappointed.
Many people do make a living from their lettings portfolios’ but typically these are built up over time.
If you have ANY questions of lettings, please feel free to contact Kristabelle Charman Leaders branch manager in Chichester on 01243 533533. Visit the Leaders website at www.leaders.co.uk.