Research the key to buy-to-let success

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Buy to let property investors need to research their potential purchases, as well as considering long term gains from any property, according to a lettings expert.

Changes in the buy to let market have meant that a landlord now needs look at, and place offers on, a number of properties before finding the right one to add to their portfolio, claimed Chris Horne, editor of Property Hawk.

At the same time landlords looking to expand their residential lettings also need to ensure they consider any long-term gains from their property investment, rather than just those in the next few years, he advised.

Mr Horne 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," he continued.

A recent survey by Rics revealed that a potential landlord would need to put down a deposit of £65,000 for a property, compared to £10,100 in 2002.

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