Being ready to purchase your first buy-to-let property or to expand an existing portfolio is undoubtedly a great position to find yourself in. Investing in a buy-to-let residential property in London and Manchester can be a lucrative opportunity if done wisely. Here are some tips for your first buy-to-let investment.
Location is key: Research the different neighbourhoods in London and Manchester to find an area that is in high demand from renters. Areas with good transport links, amenities, and a strong rental market can offer a higher rental yield. We have a number of properties available in various locations in London and Manchester that offer fantastic rental yields up to 7% per annum. Take a look below.
Achieve up to 7% rental yields.
The gateway to the emerging Red Bank neighbourhood, Crown View blends city living with a river park on its door step. The 275-apartments tower boasts over 4,500 sq ft of exclusive, private amenities featuring co-working spaces, resident’s bar and lounge, gym and yoga studio, co-working spaces and private dining.
Achieve up to 6% rental yields.
Consider the type of property: Decide on the type of property you want to invest in, such as a house, apartment, or a studio. Look for properties that are in good condition, have low maintenance costs, and are easy to rent out.
Calculate your budget: Work out how much you can afford to invest in the property, including the deposit, mortgage, and any other expenses. Keep in mind that there may be additional costs, such as stamp duty, legal fees, and property management fees.
Do your due diligence: Before making an offer on a property, research the local rental market, property prices, and any potential risks. Consider hiring a surveyor to check the condition of the property and identify any potential problems
Consult with Vesper Group to help you make informed decisions and avoid costly mistakes.
Plan for contingencies: Set aside funds for unexpected expenses, such as repairs or periods of vacancy, and ensure you have sufficient cash flow to cover the mortgage and other expenses
Consider hiring Vesper Group to handle tenant screening, rent collection, and maintenance issues. This can help you save time and ensure your investment is well-managed.
Find out about our property management service.
