Investing in Buy-to-Let Properties – What to Look Out For
Mortgage rates and bridging finance continue to work together in such a way that purchasing property for the purposes of buy-to-let is still an attractive option for many an investor. If you are looking to get into the marketplace, and you have a deposit ready to go there are a few things that you should be looking out for that will help you secure a property that is perfect to let out.
Do Your Research – Of course this sounds straightforward but it is vital that you research all aspects of a potential purchase thoroughly. Work out your financial situation down to the penny, what can you afford for a deposit? And what would you want as a return on your investment? Look at all the risks and benefits of this approach and choose the location of the property so that there is a good balance between good value and a nice area to live.
Put Yourself in a Renters Mindset – This will help you to choose the area that you are purchasing a property in, as well as the type of property. If you were renting, what would you want the place to look like and where would the ideal location be?
Focus on Rental Yield – If you have researched effectively and thought like a tenant, you can focus on bringing in a good rental yield on the property. Even if your end goal is to sell the property, rent in the short-to-medium-term can help you to build some savings.
For more information about bridging finance to secure a property for buy-to-let purposes, contact First4Commercial. Our experienced team has access to a wide range of bridging finance lenders.