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Bournemouth investor: BTL or serviced accommodation?


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Hi everyone,

 

My name's Ben, and I'm a website designer based in Bournemouth, looking to make my first strides into property.

 

So far I've been along to Property Hub Meetups, and absorbed lots of books, podcasts, videos, you name it! But I want to go up a gear and increase tangible action, which is part of the reason I'm here.

 

I've been advised to start off simple, and so am looking initially at buying small flats for single let. However, I'm really interested in serviced accommodation as a longer-term strategy.

 

Great to be here, and feel free to ask questions if you're so inclined!

 

Cheers,

 

Ben

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Morning Ben, 

 

Great to have you on the forum and glad to hear you've already been listening to the podcasts, reading and attending the property hub meetups. You're off to a seriously strong start!

 

I think this all comes down to your strategy and how much time you want to put in. If you want a more hands-off/ hassle free property investing strategy, I'd say going down the standard BTL route is a good start. Also by doing the standard BTL first, you'll learn while building your portfolio, with lower risk and less hassle.  Serviced accommodation is similar just with more moving parts and involves more time, but does in the right place mean you could get a higher ROI.  So it's really a question of how much time you want to put in. 

 

I hope that helps and anything other questions, just send them over. 

Cheers Phil

 

 

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Thanks Phil for your advice. I'm not so much interested in hands-off as much as I am in building solid experience. I have done some (admittedly desk-based) investigation into SA but have struggled to make the numbers work, though I might be being pessimistic with my estimates. 

 

BTL seems like a good bet but equally I am keeping my eyes open for any suitable opportunities. 

 

Cheers

 

Ben

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Hi Ben, 

 

Have you checked out the wesbite AirDNA? It's quite useful for taking a look at what can be expected to earn in your area. We have an Airbnb property in Glasgow and I based my initial cost model on the information from that website. Also, look into the tax benefits of running a Furnished Holiday Let (FHL).

 

Kind Regards, 

 

Kirsteen

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  • 2 years later...

Hey Ben, 

little late to this party, but thought I’d comment none the less. 
 

I’m also a business owner based in Bournemouth with an interest in building a property portfolio. 
 

If you are still pursuing this do reach out or connect via LinkedIn (Adam Maton)

 

all the best 

 

Adam 

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