If you’ve somehow managed to land yourself here, the odds are you’re interested in becoming a UK residential landlord. Well, you’ve come to the right place.
Before I start diving into the how-to’s and pointing you in the right direction, I want to make it clear that I’m NOT selling anything. To be honest, I’m lousy at sales, so even if I tried, you probably wouldn’t even notice, you’d probably misconstrue it as poorly choreographed flirting. It may feel terribly uncomfortable, but rest assured, I’m not selling you anything.
I’m only going to be talking out of my own experience as a landlord of several years and nothing else; offering hints and tips for new and experienced landlords which I’ve learned along the way. All the information on this website is FREE. I don’t believe in selling educational information, I get more pleasure from hearing how I’ve helped someone (in exchange for nothing)! Needless to say, I don’t believe in the those excruciatingly expensive property courses that are relentlessly squeezing pennies out of prospective landlords. Have you considered enrolling to one before? You’re not alone. I don’t feel they offer any real value, and most of what they share is widely available online for free these days.
I don’t make any guarantees or provide you with any special recipes (because there are none- if anyone says otherwise, RUN). However, I will provide you with good practical, no nonsense advice that’s easy to digest, which I’ve learned through years of making horrendous mistakes. I’m your test-dummy.
I won’t drown you with convoluted jargon and use words with 3 or more syllables just for the sake of it. I prefer a more down-to-earth approach. Basically, even if you’re stupid as hell, you’re still my target audience, because even stupid people need to secure their futures.
The purpose of this introduction is to help give you a kick-start to becoming a landlord. One thing you need to accept from the start is that research is key. I hate to say it, but it’s the reality of the situation. You know what research means, right? It means a whole lot of reading, and yes, I realise that’s like up there with in the top 3 boring-as-hell past-times. But trust me, it’s crucial and it could be the difference between failure and success. If it helps, I’ll try to make the experience as enjoyable as possible.
Ready? Cool, let’s go.
A little bit about me
I guess you might be wondering “why” you should listen to a turd like myself. Who am I exactly, what are my credentials?
All good and valid questions, which unfortunately come with very unimpressive answers. I told you I’m not a salesman.
I’ve always sold myself as being “normal”, and for some reason, to me, that seems appealing- because that’s all I was looking for when I was starting out. I just wanted to talk to a normal person that could offer me advise without any of the hype. Because, in reality, most of us are regular, every day, 9-to-5 people, and we just want to get our foot on the ladder without another greasy sleaseball trying to make personal gains while we’re just trying to learn the basics.
I’m NOT an expert. I’m not even a big-time landlord with hundreds of properties. I’m a moderate investor, I know how the industry works; I’ve been a landlord for 8 years and I’ve been through a hell of a lot, from disastrous tenants to comforting financial gains.
Why do you want to be a landlord?
To be honest, it’s irrelevant. Your intentions could be completely unsavory and malicious for all I care. The point is, you want in.
99% of the times it boils down to financial gains. You want to make money, lots of it. Being a landlord is certainly a good way of stacking the chips! But you need to do it right. As always, there is a right and wrong way of doing everything. The latter usually ends up costing dearly, so it’s best to avoid.
Over the years I have seen landlords drop like flies, particularly through the recession, and that’s usually due to greed and high-risk investing. I don’t believe in any of those practices, so if you’re looking for high-risk, high reward returns, you should probably exist the building. While high-risk ventures can be extremely profitable, I don’t have the stomach for it, and they have adverse effects on my sleeping behavior. I like to sleep at night, and that’s why I believe in low/medium risk, long-term rewards. It’s the safest way to play it, and it’s proven to have an extremely high success rate. For more details on my property investment strategy as a landlord.
Where to start?
Enough of the fluff. You want to learn where and how to start! Your first port of call is to jump over to my comprehensive guide for new landlords. That should keep you busy for a while. It covers everything from A-Z about where and how to start, what is expected, and the risks involved.
Want more specific advise?
When I first started out I had like a billion questions to ask. I wanted them all answered, but I didn’t know who to ask. Sound familiar? Don’t worry, it’s perfectly normal.
If you really want to know more, visit our landlord forum. It’s full of new, novice, and experienced landlords, all offering and seeking advice.