SMF - Just Installed!

In the Process of First Property

Started by socajssr, September 28, 2022, 02:11:29 PM

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I am currently in the middle of buying my first property as a Landlord which is tied into 3 year fixed rate deal.
With all that is going on at the moment with interest rates etc etc. Is this a good time to be getting into this or should I pull out and invest elsewhere and wait

Simon Pambin

In the long term you'll probably still make money ... if you can survive the short term. Try stress-testing your numbers: see how it looks if in three years' time mortgage rates are 6%, property values are down 20% and your tenants haven't paid the rent for six months. That obviously wouldn't be much fun but would it completely wipe you out?

Personally, I wouldn't buy more residential property at the moment but that's just my view. I reckon the affordability crisis is finally coming to a head and I'm going to wait and see how it plays out: there's no harm in missing the boat if the boat is the Titanic.


Thanks. That last line makes real sense.


Forgot to mention the price I'm getting it for is 15% lower than market value. With no major work involved.