On 06/08/2012 17:43, ARWadsworth wrote:
TheScullster wrote:
Hi all

From posts to the group in the past, it is clear that a number of
posters own property for rental.

Is the market saturated after all the buy-to-let hype of recent years?
Is it a worthwhile investment if starting now(ish).

I am likely to be in a position to take on a property (finances
permitting) this year and wonder if this would be a good move in the
current climate.
The property is 3 bed semi in decent area - I am guessing at purchase
price of around £150k and rental £500 pcm possibly more.

Only very tentative interest ATM - not sure I could live with the
hassle!
If my figures are right on the rental income, what costs should I
expect to pay out of the £6000 pa income?

Now some years ago I used to do a lot of work for a couple southerners that
were buying properties in run down areas of South Yorkshire, tarting them up
and renting them. They sold up just before the crash.

Today they phoned me up to say that they are going to now do the same thing
again.They will again be going for the terraced house and DSS tenants
market. They made themselves rich the first time round doing this and they
are going to try to make themselves even richer.

Some houses made a loss in the rental part but the price of the house
increasing made them their money.

The guy I know that bought 3 bed semis for a better class of customer had 3
of them turned into cannabis factories that cost thousand to repair.

Taking a sidestep, you could buy a 2 bedroom place in Turkey for £30k or
less get some (not a lot) rental and have a holiday home for yourself.
It is safe to buy there ONLY if you get proper guidance from someone who
knows the system.