Friday, 16 May 2014

Sunderland Buy to Let - Rule #3

Rule #3 - Be Realistic

People need a lot of money to afford a deposit to buy a house, so many are renting instead. This means there’s good demand for rental property in Sunderland at the moment

At some point this will change. As such don’t assume that just because you can currently rent out a grotty property that will always be the case...and don’t assume because some estate agent is promising to get you £x in rent, that it will rent at that price for ever 

Rents can go down as well as up and it really is irrelevant what the last tenant was paying for the past few years...if the market has moved on since they moved in, you need to reflect what people are willing to pay now rather than then

Do your figures on a worst case scenario and you should end up with your expectations being exceeded, rather than fighting a constant losing battle to keep your head above water

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