Investing in buy-to-let and making it pay is getting more challenging, but property is still a good safe long-term investment if you approach it in the right way. You need to treat it as a business and not a get rich quick scheme.
Property investing and becoming a landlord can be hard work at certain times, but it is very satisfying as you are actually doing something that benefits society, your community and the individuals you house – your lovely tenants!
When you have done it as long as I have you meet all sorts, and every situation, every tenancy is different; most go along very smoothly, while others, thankfully the minority, bring up all sorts of problems, problems which you must learn to overcome if you are to be a successful landlord.
Landlording is a learning process, you’re learning lessons along the way, the most painful experiences being the hardest lessons but the ones that you never forget. The next best thing is learning from the experience of others. Thankfully, there are a lot of books on the market that help, books written by landlords who have done it before and help by relaying the lessons and their experience in an organised and lucid and way.
The subject of this review, Dawn Brookes’ book, is just such an example. Her 7 steps to successful investing in a buy-to-let provides a logical and thorough approach.
Written by an experienced landlord with experience in training and other fields. She started in property around 5 years ago from scratch, and has made a success of it.
Dawn’s book covers all the basics a new investor needs to know when getting started in buy-to-let. From finding the right property and financing the deal, through to finding and screening tenants, and understanding all the legal, administration and tax issues.
The book is any easy read at around 200 pages, with lots of useful advice and up-to-date examples, with various investment scenarios, all supported by actual calculations. I found the section on finding the right property for your circumstances as a landlord and getting a good deal particularly helpful.
If you are looking to get started and give yourself the best chance of success, you can’t beat learning from someone who has actually done it. For that you will find this book is an excellent read.
Review by Tom Entwistle