The author of this book is one of those entrepreneurial spirits that most of us just dream about being. He bought his first property with £500 when he was 24 and at the still-quite-tender age of 31 he now owns 50. It requires, in his words, ‘dedication, persistence and discipline’ and, he adds saliently, ‘if you lack any of the above, then forget it.’
Since the Chancellor, or the previous Government whichever way you look at it, raided a generation’s worth of pension funds, investing in bricks and mortar has cemented itself as the most sensible course of action for anyone interested in saving for the future. Small talk about mortgages, exchange dates and damp experts pervade the shops and cafes of London and the succession of DIY programmes aired on television are testament to this considerably increased interest in property.
This ‘bible’ is, however, chiefly concerned with the buy-to-let market which defies the oft cited rule of location, location, location, and instead it tells us that we should be concerned with price, price, price. Alongside constant reminders of the differences between this market and the buy-to-live in market are helpful suggestions such as, for example, placing a rogue advert in the local paper of a potential area to see how many calls it receives before investing. That way the market demand is gauged inexpensively.
It then deals with the finer details of questions and scenarios worth addressing before bowling into the buy-to-let market. Including a very useful chapter on taxes that are likely to be incurred as well as suggested ways of helping to reduce that burden. This is not a glamorous business, many of the properties that the author owns are let to families on benefit or the DSS. However, with a list of hotspots, the top of which is Bethnal Green in London, it is unquestionably useful, very user-friendly (for readers who aren’t completely familiar with the property jargon there is a glossary at the back) and practical guide for anyone considering investing in the market.
The Buy-to-let Bible is available to buy on Amazon click here for details