Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
I’m currently looking at making my first investment – I have saved up just over £15,000 and my plan at the moment is to invest in either Sheffield or somewhere in Greater Manchester like Salford.
Really I’m looking for advice on how suitable properties between £50-£75k in these areas are for buy to let?
How safe an investment are they – will they rent well? And is it a good strategy to work towards building a portfolio of 5-10 of these properties – Or would I be better of saving a bit longer for my first property and buying somewhere more expensive?
I know from the forum there are housing associations (such Salix Homes in Salford) are many of you involved in renting to these associations and how’s it gone for you?
Quite a lot of questions I know, but I don’t want to make a huge mistake by putting my hard saved deposit into a property that will be difficult to rent or hard to sell on in the future.
All advice will be very much appreciated.
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