Brexit might be coming on 29 March, but that does not mean you can’t be a buy to let first time buyer in 2019 – if that is your goal.
Owning a home is different from owning a buy to let. Homes provide security for homeowners and their families. Buy to let properties are investments meant to make landlords a profit.
But, not all landlords succeed in making a profit because they fail to find profitable properties that generate more profit margins than expense costs. To help you become a successful buy to let first time buyer, below are seven useful tips:
Real estate investing tips for a buy to let first time buyer
- Freehold or leasehold: Which is better to buy? Freehold and leasehold laws dictate much of your rights as a landlord. Before you become a buy to let first time buyer, you must understand the limitations and opportunities of a freehold and leasehold, to avoid making a bad investment. Learn more.
- How the buy-to-let tax relief changes could decrease your rental profits: Many people assume that all landlords make money. This is not true. Taxes will reduce your rental income profit margin. Be aware of buy to let tax changes so you can be better manage your cash flow. Read more.
- Using ‘equity’ to grow your property portfolio quickly: Smart investors do not save cash to buy more properties; they use equity. It’s the quickest way to build your property portfolio. Find out how you can achieve the same success.
- Using rental yield to choose the right investment property: Knowing how to calculate rental yield is best way to determine if a buy to let property will make you money. It’s my secret to choosing the right investment property. Learn how to calculate and apply rental yield in your property search.
- Is it better to buy a home or a buy-to-let property: Everyone wants a dream home. But is now the right time? Should you, instead, become a buy to let first time buyer so you can start earning rental income? Read more tips to help you make a decision.
- Beware of the HMO licence law or face a 30,000 fine: This is one of the largest fines you could face as a landlord. Know the laws so you do not, unknowingly, illegally rent your property to multiple tenants. Read more.
- Positive or negative gearing: Which is better?: Did you know that, in some countries, you can avoid or reduce your tax bill if you make a loss on your rental income? This is known as negative gearing. Find out the difference between positive and negative gearing so you have more control over your tax bill.
So, is being a buy to let first time buyer your real estate dream?
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