On Thu, 08 Nov 2007 12:36:34 GMT Phil Gardner wrote :
I know this is a bit OT but
I am about to exchange contracts on my first buy to let property in
the next 3 weeks and im getting cold feet.

I have re-mortgaged my house to release the equity to pay for this
its something I have always wanted to do.

Due to the turmoil in the housing and finance market I am beginning
to question my judgment and timing
Is anyone on this forum in this business that could offer advice.

My only comment would be to say that the 'market' is lots of little
markets and what matters is the outlook in yours.

And as the other Tony has says, think about repair costs, voids, letting
costs and what happens if your tenant stops paying (it will take you
months to get legal possession). The problem with this being your first
is that if something goes wrong it is 100% of your BTL enterprise in
trouble. If you get to (say) properties and one goes bad/is empty then
it's much less destabilising.

--
Tony Bryer SDA UK 'Software to build on' http://www.sda.co.uk