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Hi! 

I'm a new investor. I've finally managed to get a deposit together and looking at buying something around the £150k mark. Our goals are as a long term investment so capital growth is at least as important as rental income. 

We live in the South East so if we stay local our only option at that price would be a small flat or apartment or maisonette. Most advice I've gotten suggests investing somewhere within a 45min drive so that leaves us a few options- Chelmsford, Witham or maybe Colchester. 

The problem I have is that my eye keeps getting drawn up north, specifically to Manchester as I have a good friend there who has offered to view some properties on my behalf. The yields and potential for growth seem pretty exciting around Manchester but I've never set foot there so I'm not sure it's for me. It also appears that there are a lot of properties for rent up there at the moment so I'm worried finding a Tennant quickly might be an issue. 

As such I'm basically dividing my research time in 2 between two different areas. Should I just pick one and go for it? 

Any tips or advice gratefully received! 

Thanks 

Hermann 

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Hi @hermann heyl

Investing away from home is a topic we've discussed a fair bit on the forum and in Property Hub in general (https://propertyhub.net/forum/topic/10968-investing-remotely-getting-to-view-properties-before-theyre-gone/).

It's good that you've got a friend to view properties for you in Manchester, that's not something every investor has. How long have you been trying to decide between the two areas?

 

Mark Rocks
Community Builder and Content Writer

www.propertyhub.net

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Hi!

I am new to the field of property investing also, so something you mentioned which I do not have at my disposal & the main benefit of your friend being in the area means a better "ground level" view of the location (something which you have more experience with closer to you?)

Due diligence of any area is key , maybe a more extensive comparative analysis of both areas will provide clarity on if the proximity to yourself or the more attractive yields/potential (as which you mentioned) is ideal?

let us know how far you have got!

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