How many BTL properties is enough?

How many BTL properties is enough?

15:43 PM, 31st May 2022, About 2 months ago 9

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Why is it that so many landlords judge themselves and their peers by how many Buy-To-Let properties they own?

Given a choice between owning 1,000 flats in Northern England or Scotland, which are let to benefits tenants, or the alternative of owning the Burj Khalifa in Dubai, guess which I would choose?

It may come as no shock that I would choose the Burj Khalifa, but what I would find interesting, if that was the case, would be the reaction of people at property networking events when I told them I own just one property. I suspect most would move on or try to pitch something to me, without digging any deeper.

What are your thoughts on this?



Comments

DSR

9:21 AM, 1st June 2022, About 2 months ago

only enough as you can comfortably manage and by doing the best job you can do.

If anything starts to impact on the quality of your life (however you personally define that), then something has to give.

Rule your own destiny, don't be dictated by it.

Monty Bodkin

10:08 AM, 1st June 2022, About 2 months ago

Yields are better on low-middle properties.
Risk spreading.
Diversification.
Flexibility.
Lower CGT.

chris

15:37 PM, 1st June 2022, About 2 months ago

this is the question as you say most landlords ask of you and i have to admit i do for various reasons one is to determine which type of landlord am i speaking to this i explain as this if someone was to say they are professional Driver my next question would be of what Bus Lorry Tank Racing and its the same with landlords there are lots of different types and all are so different for eg i had one of my student friends with over 300 HMO asking about evictions as he as never had to do one were i don't have much of a clue about student lets so asking gives me a understanding of conversation

Mick Roberts View Profile

11:38 AM, 3rd June 2022, About 2 months ago

Ha ha great Post.

I ALWAYS get asked How many houses u got?
Does it matter? I'm still the same person that's been tighter than most people in me life, so I don't like wasting money at all.

I often publicly say I'm biggest Benefit Landlord in Nottingham, & I only do that to make Govt & Councils think Hang on, he must know a bit. Alas, it don't seem to work as they still ignore me ha ha.

Susan Bradley

11:53 AM, 3rd June 2022, About 2 months ago

I would like to think that not all benefits tenants live in Northern England and Scotland! I’m sure there are plenty in the South and indeed there are plenty of nightmare tenants who claim no benefits at all. 😊

Lordship

11:54 AM, 4th June 2022, About 2 months ago

You could simply have an income level you need to live the life you want and go from there.
However, you need build in unexpected costs etc., so consider this when doing the sums.
One property bringing in say 10k a month would work for most until that property becomes vacant!

geester24

12:39 PM, 6th June 2022, About 2 months ago

My further question is what do you say when someones asks 'What do you do ?'.
Is it ?
Residential landlord.
BTL landlord.
Property manager
Property investor

I never quite know what to say.

Mark Alexander - Founder of Property118 View Profile

12:46 PM, 6th June 2022, About 2 months ago

Reply to the comment left by geester24 at 06/06/2022 - 12:39
I just say I’m in the property business and go from there.

DSR

14:06 PM, 6th June 2022, About 2 months ago

Reply to the comment left by geester24 at 06/06/2022 - 12:39
I often wryly reply 'Social Worker'.

Once I said 'non governmental Housing Officer'. LOL

I never say LL as there is an auto assumption you are a thriving Ba****d that should be shot.

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