Today is where all my property adventures begin. How scary?!?! Hopefully today is going to be a memorable moment in my life; a moment which I’ll look back on for years and think, “Yes, that’s when my success as a property investor started”
I’ve thought about this for some time now, and I’m officially ready to let go of my parents’ comforting, warm hands and do some growing up by taking on some responsibility. I’m about to take a head on collision with the property market in an attempt to become a landlord.
Why am I trying to be a landlord?
I’ve been aware of the booming property market for quite some time and it has always appealed to me. You always hear about these property tycoons – seemingly effortlessly – becoming millionaires. I wanted a piece of that action.
I wouldn’t say I have a passion for property right now because I haven’t even entered the game yet, but I definitely have a keen and growing thirst to roll the dice in order to see what happens.
At the moment I’m in a position where I have idle cash laying around in a bullshit low-interest current account. The money is pretty much dormant and gathering dust, so I thought to myself, “why not invest NOW?”
So here I am, documenting my journey from property-idiot, to hopefully, successful property landlord.
Why am I documenting my story?
I don’t want to bore my uninterested friends with my property related tales, so I’m going to release all my verbal diarrhoea on here.
I’m hoping fellow property enthusiasts will join me on my journey and give me useful tips along the way, or even learn a few things by reading my diary entries.
I anticipate making a horrendous amount of mistakes, so hopefully others can learn from them.
What type of property am I after?
I have a budget of around £165k, which I’m told requires approximately £25k deposit.
I’m looking to get a 2 bedroom terrace house, in a very specific part of town very local to me. I know the area quite well, and I already know it’s an extremely desirable location for renters. It’s close to the town centre, with good local amenities, and the transport links are more than efficient, especially for London commuters.
My First Steps- picking an Estate Agent
The town I live in is jam packed with Estate Agents, so I wasn’t entirely sure which one(s) to deal with.
To narrow down my options, I looked on each of their websites and browsed through their stocklist to determine which one has the most 2-bedroom properties in the area I was keen on. Bingo!!
So, this afternoon I got the ball rolling by popping into the Estate Agents.
As soon as I stepped through the front doors, I was quickly greeted by an enthusiastic young gentleman.
After having got the formalities out of the way; the meet, the greet, and general pleasantries, I told him exactly what I was after.
He proved to be quite useful to be honest (yup, I’m surprised. You hear all these things about agents).
Long story short, he said he would arrange for me to view four houses for the following day, all of which fitted my budget and property requirements.
So, I guess we have lift off.
Disclaimer: I'm just a simple landlord blogger; I'm not qualified to give legal or financial advice. Any information I share is my opinion based on my personal experiences as an active landlord, and should never be construed as legal or professional advice. For more information, please read my full disclaimer.