Should landlords have the right to refuse DSS tenants?10:43 AM, 20th May 2019
About 4 weeks ago 124
I am a relatively inexperienced property investor and am in the process of buying 2 HMO student rental properties to add to one other B-2-L property we have.
We have been letting out a second property for about 8 years and as we are now buying a couple more I’m interested in understanding more about how people build up their portfolios and if there are any learnings I could use.
I know I won’t make as much money as some as it’s important to me that my tenants have a home and are not living in squalor!
I would love to build a portfolio from a few to many one day, I just am not sure on the best way to do it!
The first property we have has a bit of equity built up with a very low tracker rate mortgage and a high mortgage as it’s in London. I think it would be best for us to sell this later in the year and use the money to purchase more.
The 3 options I keep pondering are below:
A) go to an auction house, buy a flat outright, do it up, rent it out and mortgage it to pull the equity out and go again.
B) use the equity to put 25/30% deposit down on 2 or 3 properties – possibly student HMO’s if they go well (not sure if I would prefer to spread my risk outside if just students though)
C) use all the equity as a deposit to purchase a higher value multiple flat type property.
Also, what are your thoughts on student studio investments?
Thanks so much for your help!
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