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mathlete76

Branching into Property

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Hi all,

I'm looking to start investing some of the capital I've built up through an entirely different venture I've been working on for the past 5 years. I currently have no experience in property other than I previously rented out my own house whilst I worked in a different part of the country so I've got some landlord experience, but nothing in terms of buying, refurbing and remortgaging to let which is my plan at present. Maybe someone can tell me if the following plan is credible or not.

I'm hoping that with the capital I have I could get started on one property to learn the ropes and not have to worry about time constraints, income or financing the project. I'm thinking a studio or one bedroom accommodation and there's a couple of areas nearby which apparently present rental yields of 8-10% on those type of properties. If I can aim to achieve half of that and give myself the experience of having gone all the way through from purchase to renting, I can then start on another property. My eventual aim is to repeat until I have 8 to 10 properties and then reassess from there.

Thanks for all the info I've found so far from browsing the forum and I look forward to taking part.

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