Buy-to-lets can be a great way to become involved in properties if you’re just starting out. They also can be very profitable experienced property investors.
This week Samuel gives his advice on the ways to take advantage of the Buy-to-Let market to reap the benefits by making the best profitable decisions for your properties.
1. If you purchase a buy-to-let and your plans are to hold onto the property. You should want to add value to said property.
2. Taking matters into your own hands by managing the tenants that stay at your property. This can save yourself money and allows tenants to enter your property a lot quicker. Using sites such as open rent are perfect to list your property.
3. Bad tenants are worst then no tenants. So make sure you select the right people, do your due diligence and background checks on any potential tenants.
4. Be nice! It can go along way present your tenants and agents you use with gifts can help you in the long haul.
5. Instead of falling into the obsession of wanting to repay back the mortgage back on your house. The best idea would be to refinance the property than using the money to purchase another house.
These five tips are vital if you’re serious about making a profit from your Buy-to-Let’s in 2019.