Buy to Let book list suggestions requested

by Readers Question

13:41 PM, 2nd July 2014
About 4 years ago

Buy to Let book list suggestions requested

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Buy to Let book list suggestions requested

buy to let booksHello everyone! I’ve just had an offer accepted on my first buy to let property in London and while I’ve been pouring over the fantastic resources here on 118.

To further my knowledge, I wondered if there were any good books that any fellow members can recommend I read that might be helpful for a budding buy-to-letter. Specifically I’m interested in the day to day practicalities and pitfalls to look out for.

I’d like to do things right from day one, provide a good service to my tenants, avoid conflicts with officialdom and hopefully make a little profit along the way. Therefore just want to get as educated as I can in advance to help smooth out the inevitable bumps that I’m sure I’ll have along the way ! Much appreciate any pointers

Thanks

Peter



Comments

JANE LINDSEY

13:54 PM, 2nd July 2014
About 4 years ago

Hi Peter,

Try Rob Dix "Property Investment for Beginners". Simple, straightforward and easy to read. I would recommend it highly.
Also, David Lawrenson "Successful Property Letting", which covers just about everything.

JANE

John Constant

15:08 PM, 2nd July 2014
About 4 years ago

Congratulations on the acceptance of your Offer Peter. I hope that it will be the first of many to come.

The whole subject of BTL investment is a very complex one, in that things are in a constant state of flux. There isn't a day goes by when someone will pose another question on this forum, be it legal, financial, ethical (or even moral at times) that requires a specialist response. So, whilst books can give you the basics, stick with the forum for truly up to the minute expert advice!

Peter Hindley

19:26 PM, 2nd July 2014
About 4 years ago

Hi Peter
I have nearly 30 property books & they are all good! An unusual one, not chosen by others, might be Iain Wallis with "Legally Avoid Property Taxes". On Amazon (although they seem to sell out quick), very easy to read & good tips.
Regards
Peter

Mark Alexander

7:51 AM, 3rd July 2014
About 4 years ago

I agree with all the comments so far but the one aspect of being a good landlord which is so often overlooked is customer service. Tenants are customers of landlords. The better their experience is the better off you will be in my opinion. Therefore, my recommendation is RAving Fans by Ken Blanchard. He is without any shadow of a doubt my favourite author.

I also recommend you to read my series of blogs in the Advice section of this website, then to read as many of the Readers Questions threads posted on this website as possible. There are literally thousands of them and they are all real life experiences shared by your peers.

Good luck and welcome to our world of challenges, adventures and financial freedom if you get it right.
.

John Daley

11:33 AM, 3rd July 2014
About 4 years ago

Hi Peter,

Running a letting business is not simple but it's not too hard either. It's fantastic that you are keen to learn how to do this well.

My advice about dealing with tenants is always remember how you would like to be treated as a tenant, but also that the letting is a business so don't put up with any shennanigans from tenants. You must always be business like in your dealings.

Join an accredtation scheme, they are cheap and you'll often get good training as well.

Find out what the local Council expects and comply with that. I have attached some guidance issued by Southwark which is simple and straightforward. copy and paste this into your browser to get to the document.
http://www.southwark.gov.uk/downloads/download/3701/southwark_private_rental_standard

As to a book, read Sun Tzu's The art of war. It's not enormously relevant but it does make you think about planning and preparation which are always key skills for landlords.

Best of luck and I hope you make a fortune !

Peter Johnson

16:40 PM, 3rd July 2014
About 4 years ago

Hi Guys, thanks so much for all your helpful advice, much appreciated. Regards Peter

Jayne Owen

17:58 PM, 3rd July 2014
About 4 years ago

Hi Peter,

I have just put some suggestions on your post on Property Tribes before I realised there was a post here too. Rather than repeating all of that, there are some good points above about keeping up to date. I would also recommend joining either the NLA or RLA as these organisations will keep you up to date of changes, and can help with advice, documentation, problems and so on. They also have regular publications.

**Totally biased recommendation coming up!!** I also write for Your Property Network, a monthly magazine available by subscription only (but was a subscriber years before starting to write for them!). If you're not already familiar with it, articles consist of property case studies, focus on various strategies, what works in different areas, legislative updates, landlord obligations, legislation updates, etc. The content varies each month but please contact me via jayne@mozaique.co.uk if you would like a back issue to trial.

Peter Johnson

15:27 PM, 7th July 2014
About 4 years ago

Reply to the comment left by "Jayne Owen" at "03/07/2014 - 17:58":

Hi Jayne, Thanks for the info, much appreciated.


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