My name is Naj. I am 25 years of age.
I used to work as a sales and lettings agent in East London. It has always baffled me that Landlords/investors were purchasing properties for very high prices and renting them out for not a great yield. Looking through Rightmove/Zoopla I saw better value in the North. Looking around me everyone seemed to invest in areas they knew well and not looking further afield. This made the thought of investing up North daunting.
Recently, I came across Rob & Rob's podcast which was really a breathe of fresh air. I have again started looking for properties up North and with the help of this forum and podcast I have managed to gain some knowledge.
Ideally I would like to invest in properties in the North with good transport links to professionals or student. The idea of adding additional rooms (if there is space spare and not cramping a room in) seems like a positive way to move forward. This could be appealing for students. However I understand that I do not have the largest budget and starting off with a 1 or 2 bedroom may be a good start.
The trend in and around London has been that as the prices of buying/letting increased, people moved further afield and commuting in. This has drove prices up in those areas. I am interested in finding locations with similar easy commutes into Manchester, Leeds, Birmingham, Liverpool and Hull. I am not fixed to these areas and also open to looking at other areas of the UK. as Rob would say 'it's about finding the best deal not the best location'.
I also hope to make friends and a network of trusted people along the way to help me build my portfolio.
I hope to update this forum with my progress.