8:43 AM, 17th February 2016, About 6 years ago 11
I am considering buying a property that has 23 years left on the lease. The capital cost would be recouped in about 3 years from the rent it would achieve.
It seems a bit of a no-brainer, but I’m wondering if there are things I’m unaware of in this situation that could come back to bite me. I assume I won’t be able to extend the lease unless the freeholder agrees a price with me, but I’m not really too interested in extending the lease anyway. I’m looking at this for income.
Is there any advice anyone can give for this situation please. I hope I’m not missing an obvious problem.
Thanks in advance,
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