10 Top Tips When Searching For A Buy-To-Let Property

1. Be focused in your property search

When looking for a buy-to-let, know what it is you are looking for. Don’t look at properties that don’t fit your initial brief for an investment property.

2. Know your numbers

Work out what you would expect the yield on the property to be before viewing.

3. Stay objective

Do not fall in love because this is not going to be your home. Having said that, it must appeal to the widest possible market, so don’t buy a hole just because the figures work out well!

4. Who are your tenants?

What type of tenants are you looking for, and where do they want to rent?

5. Keep your letting agent informed of your ideas

Market trends do change, and your letting agent should be predicting where the next rental hotspots are.

6. Purchase price

Ensure you get the property for the lowest price possible. Focus your search on distressed and motivated sellers (repossessions, part-exchange, probate).

7. How much will you spend on it?

Are you looking to refurbish completely, or happy just giving it a lick of paint? Always have at least a 10% contingency fund to cover for unexpected costs.

8. Location, Location!

The wrong property in the wrong location will never let for as much as you hope it will (and may struggle to let at all!).

9. Design

If you are re-modelling, ensure you are making the property better. Kitchen and bathroom layouts are essential to get right. If you get it wrong, it will put everyone off.

10. Get some great mortgage advice

You’ll need an independent mortgage advisor that really listens to what your long term goals are, so they can advise on the best possible products on the market for you.

Happy hunting!