On Tue, 13 Nov 2012 11:41:00 +0000, Stephen
wrote:

On Tue, 13 Nov 2012 00:42:54 -0800 (PST), jgharston
wrote:

Decide what you want to do. Do you *want* to be a landlord or do
you want to property refurbishment?

That's another dilemma I'm in at the moment. It all depends how this
ones goes. If I enjoyed doing up a house more than my day job (which
is quite likely!) I would love to give up my job and do property
development.

However, if when I have finished working on the house, I cannot sell
it for a reasonable profit, perhaps it makes sense to let it and wait
for the house prices to pick up?

Every house will sell. It's just at what price.
When prices go up it'll cost you more to buy.


But I do take the point of another reply, which said that doing up to
sell and doing up to let involve different work being done. If only I
had a crystal ball!


You have to do the research. Look at areas very local to you. No point
spending hours commuting to a property - especially if at first you
can only spend after work and weekends on it.

Chat to some agents. Some are more helpful than others. Ask to be kept
informed of any repos coming up. Go view a few houses to get an idea
of what people are selling for the money.

If you're looking to sell - then can you decorate to a high standard?
Can you dress a house (additional cost) to give that lifestyle
impression that'll make people fall for it?

Look out for houses for sale that turn into repos. Some of the banks
are very keen to just get shut at the moment - maybe though they know
they have more to come yet.

Thanks,
Stephen.

PS I'm looking at the links other posters gave - thanks.
--
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