UK Landlord Forum / Life

Hi,

I could do with some advise, I'm looking to invest for the long term in property, my question is i'm currently 19 and i'm saving about £500 a month towards a deposit but I still live with my parents, do I need to have my own house to be a landlord? I really would like to start this dream of mine as young as possible so i can get a head start on things.

Any other advise on what to research and how to get started would be great!

Many thanks.

Hey Ben,


I'm not quite sure what you mean by needing your own house. But you can live at home with your parents and buy a buy-to-let property, and become a Landlord. You don't need your own residential property.

When I was 21 I purchased 2 properties while living at home with my parents, and I was a Landlord. At the time, I don't think I would have been able to afford to buy those properties if I wasn't living with my parents.

For advice/tips, go to the main site

If you have anymore specific questions, please don't hesitate to ask!

Good luck!

That was just what I wanted to know 

Once you have a deposit where do you look for BTL properties? I presume you try and find houses under market value but is their special places 'property gurus' use to find these properties?

Thanks for your help.

There are some property companies that work on a little or no deposit kind of thing but I have no knowledge of how they work. Looks like they charge you a fee to provide you with a suitable property but what the yields are like I have no idea. One such company is I think run by a chap called Ahuja. Do a google search on his name. He had written a few books on the subject.

There are many properties to let at the moment not helped by those people who cannot sell renting - the so called accidental landlords. Do your maths before hand. Your property NEEDS to be absolutely first class to get the top rents. Make sure the sums stack up before committing. Your investments does need to be long term to realise any capital gain in value on property.

Good luck

Jools

When you think to invest for the long term in property, make sure you do some research & take experts advice.

Quote from: BenWeb on April 12, 2009, 07:02:27 PM
Hi,

I could do with some advise, I'm looking to invest for the long term in property, my question is i'm currently 19 and i'm saving about £500 a month towards a deposit but I still live with my parents, do I need to have my own house to be a landlord? I really would like to start this dream of mine as young as possible so i can get a head start on things.

Any other advise on what to research and how to get started would be great!

Many thanks.

Hello,

You are really very smart guy, so young but thinking about property it is very good, you should go with it, for better information regarding property investment discuss it with some property management official, they will provide better information.


Regards,
sarah_9

Maryland Properties