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Invest in property? Now? You must be crazy! Well, actually no.
The public perception might be that now is not the best time for buy-to-let but there are plenty of excellent opportunities for those canny enough to know what they're doing. Trouble is, that sort of knowledge only comes from years of experience, doesn't it? Not any more. Successful landlord and property writer David Lawrenson's 20 years' expertise is now available to all in his book Successful Property Letting: How to Make Money in Buy-to-Let.
"No other book on the subject would have stopped me from making the mistakes I made when I started out - that's why I wrote this book" says David, and it's this honest and down-to-earth attitude that makes his advice so appealing and easy to absorb. He explains everything in detail, from finding the right property, arranging finance, dealing with tax, negotiating, furnishing and decorating tips, to avoiding void periods and the dreaded 'tenant from hell', all clarified with anecdotes and examples.
So why does David think the time is right for property investors? For one thing, the recent surge in buy-to-let wasn't anywhere near as large as predicted so demand still outstrips supply in many areas. House prices have not fallen dramatically so many would-be first time buyers continue to rent. What’s more, if property prices do fall most first time buyers hang on for the cheapest prices. All this creates demand, helping to push up rents and recent reports of growing rental incomes confirm this. Social factors such as job mobility, smaller family units (due to reasons such as divorce), and the imminent changes to tax policy (the much publicised SIPPS and REITS) are all set to make an impact. David also believes there are always possibilities in local hotspots thanks to new Tube, rail, road or airport links, or new employment opportunities, provided you have the right local knowledge.
Of course, he explains all of this further in the book. So who’s crazy now?
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