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Hi everyone!

Just to introduce myself I am 26 and work full time with a busy job in the NHS! I bought my home almost one year ago and am now looking to buy my first buy to let and really hope that this will be the start of a portfolio. My main focus is capital growth - a good yield would be great, but I am happy to compromise on this.

I am focusing on Nottingham as it is near to where I live so I think that this would be a great starting point. At the moment I am looking at houses only  because I understand them more- as I build on my portfolio I would be keen to look at flats at a later stage.

My main questions are location specific. I am mainly focusing on Arnold as it seems to have great fundamentals so I have seen some 2 bed terraced houses well within my budget of 150k. I have also seen some semi-detatched but these seem to go very quickly. Another area of interest is NG4/Netherfield region but I have been a bit put off by this due to the selective licensing scheme, which seems like a big hassle and a big cost.

I would absolutely love to hear other ideas, particularly anyone who knows the Nottingham area and might be able to suggest good locations or comment on my plan - would be keen to hear any ideas!

 

Thanks :D 

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Hi Rogin, 

I grew up in West Bridgford and know the area well - my parents have benefited greatly from capital growth from when they bought in the late 90s, I'm not sure what is left in the tank here though as prices are already high but might be worth looking at areas close by to this: Lady Bay, Edwalton, Gamston and even Ruddington. 

What is the selective licencing scheme by the way? 

Good luck. 

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Most of Netherfield is in a flood zone so beware!

Selective licensing covers Netherfield  and Nottingham City Centre.

Not sure how far you money would go in West Bridgeford and surrounds.

Beeston is up and coming because of the tram & new development in the centre. 

Carlton / Gedling / Mapperleyare all options, especially with the new bypass coming.

Good luck :)

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On ‎8‎/‎18‎/‎2020 at 8:20 PM, richs said:

Hi Rogin, 

I grew up in West Bridgford and know the area well - my parents have benefited greatly from capital growth from when they bought in the late 90s, I'm not sure what is left in the tank here though as prices are already high but might be worth looking at areas close by to this: Lady Bay, Edwalton, Gamston and even Ruddington. 

What is the selective licencing scheme by the way? 

Good luck. 

Thanks Richs for the message!

 

Yes I have heard that West Bridgford is very popular and it has benefited a lot from capital growth, I do wonder if it will continue to grow in price as it has done as Nottingham grows in price (if the predictions about capital growth for Nottingham come true :D ) but it may very well do as it's such a popular area, I think for me it is possibly too out of budget to consider at this stage, but will be interesting to see.

 

Selective licensing applies for all properties that are rented out in certain parts of Nottingham - city centre and Netherfield. It seems like a big hassle and big cost- I believe they check simple things like gas safety, electrical safety as well as other documents and to complete the process can be timely from what I have heard and costs almost £900, has to be done for every property and repeated every 5 years.

 

Take care,

Rogin

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On ‎8‎/‎19‎/‎2020 at 3:21 PM, julia urquhart said:

Most of Netherfield is in a flood zone so beware!

Selective licensing covers Netherfield  and Nottingham City Centre.

Not sure how far you money would go in West Bridgeford and surrounds.

Beeston is up and coming because of the tram & new development in the centre. 

Carlton / Gedling / Mapperleyare all options, especially with the new bypass coming.

Good luck :)

Thank you very much Julia for your help!

I think you are right about West Bridgford being out of my budget unless I waited a bit longer until I could afford it. Would be interested to hear your opinion on if you think the house prices will continue to rise as Nottingham in general (hopefully) benefits from capital growth as WB is such a popular area, or if you think perhaps I am a bit too late for now?

 

Thanks for the great tips on other areas to research too! :D

 

Take care

Rogin

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  • 5 months later...

Hey Julia,

I am late to this thread I am keen to purchase a BTL in Nottingham I ideally want to buy in a nice area to attract a better tenant my budget is £100-£110k what areas would you recommend.

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I live and work in Nottingham and run a Property Networking Group.  If people want to discuss Nottingham investment more generally and specific areas / considerations in particular then this is the place.  Lots of investors who have active portfolios (and opinions!) come to our regular monthly meetup as well as supporting our wider community throughout the month.

I actively invest (for Yield mostly) in Nottingham for myself and on behalf of others.  Happy to chat on the phone to bounce ideas around.  The biggest challenge with Nottingham is the sheer variety of opportunity and lots of strong fundamentals to go round.  A great City but not easy to narrow down your search radius.

Jonathan Challis
E: Challis8@gmail.com
M: 07847 303273
W: BespokeNPS.co.uk
Eventbrite: Nottingham Property Circle
Share - Learn - Build

Jonathan-Challis.jpg

The Nottingham Meetup takes place on the first Thursday of every month, find out more here

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On 2/23/2021 at 9:19 PM, lukel said:

Hey Julia,

I am late to this thread I am keen to purchase a BTL in Nottingham I ideally want to buy in a nice area to attract a better tenant my budget is £100-£110k what areas would you recommend.

I think you need a bigger budget for a nice area. I've just paid £130k for a 3 bed in Mapperley that needs a £12l refurb. £100-110 is putting you in Netherfield or St Annes - not places I would choose to buy. Really you're going to need £150k wish to make this work IMO.

 

Good luck :) 

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