Choosing a property location

Choosing a property location

10:18 AM, 11th November 2013, About 8 years ago 14

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My buy to let property portfolio is within three miles of my main residence but I would venture further out. My main concern is that I won’t know other areas as well. Choosing a property location

In the past I’ve looked at Rightmove to understand how much properties can be rented for and how many have been let recently. Also, whether its close to a mainline station, town centre and access to motorways for commuters.

With living in the south, places are more expensive and therefore require a bigger deposit.

What are the key things other landlords/investors research when identifying new opportunities with limited knowledge on location?

Thanks

Paul



Comments

by Don Holmes

15:45 PM, 12th November 2013, About 8 years ago

Merseyside remains a very positive place to invest in terrace type property, bit like the NE lifelong tenants available, low entrance level pricing, 10% yields but limited CG, we have done some recent deals where we have secured 13,14,15% but as the market is moving on and BMV are becoming more scarce, the higher yielding properties, which of course are the lower level purchase prices are gone.

However we are still managing to secure mid 50's prices, with rents of about £450-£500 if we can be of any assistance we welcome your call. Don

by Kurt van den Eynden

12:48 PM, 14th November 2013, About 8 years ago

Reply to the comment left by "Dave Webb" at "11/11/2013 - 16:33":

Hi Dave This is a very interesting visual representation. No need to give away your IP however I was wondering if on the website you could explain a little more about your approach. How did you arrive at those numbers? Would that be ok? Thank you

Rgrds

Kurt

by Kurt van den Eynden

15:05 PM, 14th November 2013, About 8 years ago

Reply to the comment left by "Kurt van den Eynden" at "14/11/2013 - 12:48":

Sorry Dave that comment was meant to be for Will Ogden...:-)

by Will Ogden

8:19 AM, 19th November 2013, About 8 years ago

Reply to the comment left by "Kurt van den Eynden" at "14/11/2013 - 15:05":

Hi Kurt,

Thanks for the interest in the site. From an algorithm perspective, the site reviews properties for sale (or recently sold) in a location vs properties available for rent. It tries to compare properties of similar sizes (e.g. number of bedrooms). It also tries to smooth out the peaks and troughs due to incorrectly advertised properties e.g. holiday lets and shared equity schemes that aren't categorised correctly. It's not perfect, and does work better in higher density areas where the sample size is much larger. I'm looking at options to increase the sample size on low density locations. Any ideas, enhancements, or thoughts welcomed!


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