Buy-to-let 'all about' research

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Landlords who are keen to build up their buy-to-let portfolios would be wise to thoroughly research because rushing into a property can be detrimental.

That is according to Chris Horne, editor of Property Hawk, who has said that sometimes investors can get distracted by short-term gains and as a result can make quick decisions.

Mr Horne advises that landlords should instead take the time to investigate what they are putting their money into and think about returns over 15 years.

He said: "In the past people were running blindly into it, without doing the research. And that is what it's all about. You need to do thorough research and maybe look at 50 properties, putting in 50 offers, ending up with two or three that are serious contenders and going forward that way, rather than buying the first place you see.

Generally the speculative froth captures a lot of people out. This isa long term business and people should not be attracted by the fact that property prices went up by X per cent over six months. They should be thinking more in terms of 15 years."

Rics recently published a study which indicated that "the buy-to-let market is now so inaccessible to the average investor that only the wealthy can afford to be become landlords".

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