Sure.
It’s always been a sound place to park cash, even more these days & especially in UK with the supply demand ratios & home ownership affordability constraints making a varied rental portfolio even more lucrative.
Obviously, the real bang for your buck is in outright, unencumbered ownership, particularly in decent turnover regions where demand outstrips (quality) supply.
Buy smartly, keep your spending belt tight & you’re on a winner.
A very little: I have [I]one[/I] rental property (overseas), which - very fortunately - I managed to buy under rather favourable circumstances when prices were right at the bottom of a property recession which was just about to turn the corner. I bought it partly with the intention of staying in it quite often myself as well as letting it out intermittently, but when circumstances confounded that plan, it proved to be very easy to rent out for 6 months at a time, and has actually had very close to 100% occupancy since I took possession.
I know I’ve been lucky with it, but I think that if you look widely enough, there are always ways to be “lucky” somewhere. I have more of an eye on long-term capital appreciation than just rental income.
(I only know about Europe: at the moment, I think northern Portugal, well away from the relatively overpriced Algarve, and perhaps some parts of Romania - but avoiding the coastal and winter-sports areas which are already [I]very[/I] fully valued, it seems - have some good opportunities.)
Where did you buy your rental-property? Seems like you did a very good purchase.
I’m currently aiming for year around rental properties for students. Living in one of the largest cities in Norway with a very attractive university. The property marked has been going good for the last couple of years too, this year it is up 7,4%.
In Marbella, Spain - in the “old town” (I wanted to be away from the beaches - wasn’t looking for those sort of rentals, at the time I bought).
So far, so good, anyway. There was a real estate crisis, at the time, in Spain. It’s a conversion in a big old house. The developer was on the point of going under and had to sell very quickly. Technically it’s only a one-bedroomed apartment, but they’re [I]huge[/I] rooms and its square footage is actually bigger than my whole (three-bedroomed) house, here.
That’s a local industry, here. I live in city in England with several universities (including one of Europe’s biggest ones) and “student lets” are a huge business, over here. I think this is a good, well-defined, well-established lettings market in which you don’t have trouble finding tenants from year to year.
A friend of mine in Riga does “embassy rentals” (not “ambassadorial residences”, just apartments for junior embassy staff). They need a very high standard of fixtures/fittings, and they need good locations, of course, but embassies are guaranteed good rent-payers, so there are no problems regarding that. It’s a [I]very[/I] different sector of the market, of course.
I’m glad I’m not the only person that has thought of this kind of thing to do, it just seems like a smart investment, you always hear of well real estate investors.
This is reasonable and smart.
In my homegrown city real estate is what most people are trying to invest. You must be careful, especially when working with documents - and you will succeed!
In my homegrown city real estate is what most people are trying to invest. You must be careful, especially when working with documents - and you will succeed!
Imagine that you live in a city with a million inhabitants on the seashore with dozens of beaches. The swimming season lasts from May to September. This city is the center of local recreational tourism. The flow of people coming here never stops. People need somewhere to sleep, take a shower, eat, have sex - read a book in peace and quiet, after all. This is where to invest in real estate.
An interesting idea is to invest in commercial real estate in a similar city. Something like this - https://www.1500marketstreet.com/.
Hi! And you are well done since you own two real estate objects, which means you have serious capital. You are a serious and experienced investor who receives a good income. I’ve also done quite well in real estate investments. My plan is simple, I buy a house that needs repair or rehabilitation, and then it is resold for a higher price, and this way, I earn money. First of all, in this case, you need to be able to Estimate rehab costs, and if you do not understand this, then you will not succeed in such an investment method.
I’ve heard, ¨never rent to anyone you can’t put on the street on Christmas eve.¨ Meaning, if they fail to pay you will have to evict them, and you can’t be emotional about it.
This sounds like a smart idea. Saves a lot of trouble for both the tenant and landlord.