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Guest kingdawson
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Guest kingdawson

Help a young brotha out. I've accumalated quite a decent chunk of cash in my Bank over the last few years and i'm now ready to buy myself a flat/house to Let. Just gimme some general info as to how you got yourself on the property ladder, any general tips, what to do and what not to do etc etc...any advice is much appreciated.

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Guest kingdawson

Help a young brotha out.

 

Stopped there, sorry.

 

I know you did. It's your sort that are preventing people like me reaching those dizzy heights of owning our property and giving back to our community.

 

N.W.A taught me everything i know.

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you are buying to let out?

 

Yes mate and cheers for that link TU.

 

buying cash? consider an auction. make sure buy in a popular renting area. and consider going full management with an estate agent- although it costs ££ can save you just as much- cos they are shit hot on late rents.

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Guest kingdawson

you are buying to let out?

 

Yes mate and cheers for that link TU.

 

buying cash? consider an auction. make sure buy in a popular renting area. and consider going full management with an estate agent- although it costs ££ can save you just as much- cos they are s*** hot on late rents.

 

Yeh buying cash but what exactly do you mean "Full management with an estate agent"? you mean let them handle it and take complete control?

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you are buying to let out?

 

Yes mate and cheers for that link TU.

 

buying cash? consider an auction. make sure buy in a popular renting area. and consider going full management with an estate agent- although it costs ££ can save you just as much- cos they are s*** hot on late rents.

 

Yeh buying cash but what exactly do you mean "Full management with an estate agent"? you mean let them handle it and take complete control?

 

 

basically aye.

 

ive done it both ways in the past. i had a flat in heaton early 90s and moved in with my lass in monkseaton, rented my flat to students- what a fuking nightmare.

 

 

Traded that bird in for newer model, she got pregant moved in with me earlier this year, and rented out her flat through an estate agent.they do all the legal stuff they are quick onto them for the rent, and just deal with all other issues- though im the nominated first call for maintenance- as this is my line of business anyway. about  £45 a month.

 

 

ps- fuk me you must be loaded buying cash in the smoke.

 

 

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Location, Location, Location!

 

Buy in the best possible area you can and rent out to nice professional people who usually take great care of your property. I used to do it until recently and only ever used to the agent to source clients, never to manage. If its a nice area, nice people you will have no bother.

 

Just remember to keep a bit by for a good lick of paint every now and then.

 

Also make sure you get in the agreement sensible things such as if there's a garden, get it written down that it's there responsibility to keep it tidy.

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Location, Location, Location!

 

Buy in the best possible area you can and rent out to nice professional people who usually take great care of your property. I used to do it until recently and only ever used to the agent to source clients, never to manage. If its a nice area, nice people you will have no bother.

 

Just remember to keep a bit by for a good lick of paint every now and then.

 

Also make sure you get in the agreement sensible things such as if there's a garden, get it written down that it's there responsibility to keep it tidy.

 

This. Don't let it out to students or scummy bastards. Also if you're buying a house to live in don't forget to check the stupid little things like the shower water pressure. Made that mistake before.

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