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lynn

Advice on 1st time BTL purchase please.

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Hi all,

I'm about to purchase my first BTL property, and one of the options is a terraced house that has been converted into 2 small, 1 bed flats.  As a newcomer, this seems like a good option as the rent for the flats would be more than for the house as a whole. Would anyone be able to tell me the possible downsides of this option? Thank you.

Thanks,

Lynn

 

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Are the flats self contained or would this be an HMO?

It does sound good because you are reducing the risk of voids. When one is empty it is likely the other is going to be occupied and so help towards the mortgage. The down side is that you are going to have to interview and handle twice as many tennant agreements,

Getting a mortgage on it might be difficult???

 

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