2006-09-04 05:43:43 · 10 answers · asked by teadrinkingpaddy 1 in Business & Finance ➔ Renting & Real Estate
If you are buying to keep. Make sure everything is okey with your purchase, if not, you will be dumping a lot of funds into your purchase within the first year and along with your payments, if you have them can make your purchase a bad buy. Usually with a good purchase, if buy used, your out lay should not be considerable for at least 5 years. If buying new, 10 years.
Buying to let is risky. You only get 2 kinds of tennants, good ones and bad ones. Getting a bunch of bad ones in a row can make your purchase a nightmare.
2006-09-04 07:40:01 · answer #1 · answered by FOZ 4 · 0⤊ 0⤋
It depends how much risk you're prepared to take. If you're buying for cash, you have a fairly volatile investment and things can go wrong (dud tenants, no tenants, structural problems). If you're borrowing to buy to let, the investment is even more volatile because you're depending on the margin between the investment return and the interest rate.
If it all goes right, the rewards can be high. It's probably slightly safer than the stock market (but remember that's extremely risky if you play it with borrowed money).
2006-09-04 12:53:57 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes & no. YES if you buy at a good price, & can let out for lots of profit (being realistic about all of the costs), & it is in a good area of establised rental demand, & it attracts high quality tenants that will not cheat by not paying rent. Otherwise NO.
2006-09-04 14:48:52 · answer #3 · answered by Frank M 3 · 0⤊ 0⤋
Depends on what you buy... I would buy a small apartment unit in a very chick neighborhood and rent it to yuppie-wannabes who want to rub elbows with the upper class. Now that makes a perfect investment with a reasonable cash flow.
So go ahead and good luck investing.
2006-09-04 12:52:11 · answer #4 · answered by cannadoo 4 · 0⤊ 0⤋
It can be. If you are really serious, you should have an attorney review the contract. A lot of well intentioned tenants get burned by not understanding what they are signing.
2006-09-08 09:11:46 · answer #5 · answered by Barbwired 7 · 0⤊ 0⤋
yes, but stick to condos/apartments
with baby boomers turning grey, most are going to be looking to downsize, which is going to cause a glut of houses on the market (prices will fall) and a shortage of apartments/condos (prices will rise)
2006-09-04 12:59:28 · answer #6 · answered by capollar 4 · 0⤊ 0⤋
No sure, you can make money if you buy it in a student area though..i'm 14 so dont take this erm..comment seriously
2006-09-04 12:49:39 · answer #7 · answered by garethjones1992 3 · 0⤊ 0⤋
yes
2006-09-05 09:41:38 · answer #8 · answered by ruddy 3 · 0⤊ 0⤋
read tips on real estate, renting and much more on this site
2006-09-04 13:29:56 · answer #9 · answered by Anonymous · 0⤊ 0⤋
i think u should listen to garethjones
2006-09-05 09:04:00 · answer #10 · answered by Pat 4 · 0⤊ 0⤋