There was an article in The Sunday times this weekend raising awareness / concern of certain property clubs that promise to find you cash positive properties without a deposit for a fee of circa £8000.
Having attended the introduction presentation of one of these clubs and knowing that letting agents (such as Belvoir Lettings Guildford) give free buy-to-let advice I personally do not see the value the clubs offer.
A quality letting agent should be able to sit down with you and go through forecast spreadsheets, show demand in any given area for each type of property versus stock available and give advice on which exact property would be a good investment bearing in mind local knowledge of amenities. In return we ask to have exclusivity on that property for 2 years as the letting agent.
There are very few short term quick wins, as buy-to let is about the long term however if you have cash in a savings account paying a low interest rate you could be better off purchasing property than keeping it in the bank. Property sales prices seem to be dipping again due to the flood of properties being put up for sale following the abolition of HIPS pack, however rents are rising due to a shortage of good stock thus offering some good returns on your capital in the short-term and as long as you believe property prices will increase over the next ten years there is also a great opportunity for long term profit.
If you want more information then please feel free to call me
Member since: 18th March 2011
Guildford based owner of BELVOIR! Lettings. Always upfront and honest and willing to give free advice, our service levels have been recognised by The Sunday Times as we won their Gold Award for Best Letting...