Jump to content

Hi, new and eager to learn and have advice

Recommended Posts

Hi, I am a 30 yo Londoner and have been listening to the podcast and watching several videos on here. It is great content.
I am starting my journey into property and would like to start investing in Buy to Let.
I am thinking of investing £50K this year however still doing my research and would be keen on having some advice.
I have watched the property hotspots video, however since I don't really know these cities (never been to Nottingham, only been to Manchester and Liverpool once), I am still not sure about whether to invest there or stay somewhere close to where I am currently living (i.e. around London, although the ROI is much lower).

Do you think I should chose one of those areas (like Nottingham for example) and try to get to know them? Or invest in the London area although £50K wouldn't get me far in that area?

Link to post

I think you can only answer that one oumdaldn!

It depends on what your goals are, who your target market is, your exit strategy, risk tolerance, how hands on and involved you want to be with the property, how far you're willing to travel, whether you want to use a local sourcer etc...

You can perhaps spend a week or weekend in one of those locations (subject to lockdown conditions) so you get a feel for the place. Another option, you can punch in RightMove properties up to £200k (based on your £50k deposit) and then limit the range to however far you're willing to travel from your current postcode. That might pop up property locations closer to home. For example, I'm based on SE London, and if I set a max. price of £200k and a radius of 15mi with at least a studio, it returns 1,010 properties for sale. 

Personal Blog: https://abcdad.co.uk
Property Spreadsheet and Deal Analyser: https://abcdad.co.uk/property-spreadsheet
Looking to read some Property books? https://abcdad.co.uk/books/property-books
Follow on Instagram: @abc.dad

Link to post
  • 3 weeks later...

Thank for your answer! After having had a look, I am now focusing on Barking area as it is not far from where I currently live and I have seen it changing within a few years. It seems to have a lot of regeneration going on, a lot of money injected in.

Link to post

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...