Any Landlords There?

[Ric.ror]

I really cannot decide what to do with some 'spare' money I have
Its enough for a 30% deposit on a small property I have seen (one bedroom) to be rented out. Is it a good time to be investing in the buy to let and if so what size property would be best

Many thanks

[The Builder]

In a slump such as this, I would say it's an ideal time to buy for rent. The big question is how much do you want to get involved with the property? Plenty of lower-end and "distress-selling" deals around right now. Only consider these if you're willing to devote time and money in bringing them up to a good standard........... and maintaining them there.

Classically, the best bet is to buy new. There will be a warranty. Also, at the 1/2 bedroom end, first-timers are almost non-existent, so you should get a good, worry-free deal.

If not new, then renovated, or something not likely to trouble a surveyor too much.
Good luck

[BRIGHT SPARK]

If you go on the BTL route then you need to clear £500 per month to make it worth the hassle for a £100k property.In most areas values have stagnated and if/when we have an interest rate rise they will begin to fall and short term this will negate any profits.

[emmie]

if you can do a catch up on ITV, last evening's the tonight show was all about buy to let, informative, but sadly quite disheartening for those who cannot afford to buy, so are stuck in an endless cycle of renting.
Might be worth a look to see what you could be in for. Interviews with those who are planning to do the same, buy some properties and let out.

[JaneDoe2]

Ric.ror: first question yes most def a good time to invest in any property but its getting more and more difficult to get a BTL mortgage. Second question: i would not consider a one bed as you would not get the mortgage repayments back in rent. Councils cap the housing benefit dependent on how many bedrooms a property has so the more bedrooms the more money would be available for anyone on Benefits. 2 or 3 bed properties rent the best or you may consider multiple occupancy if you are in a Student area . BTL mortgages are interest only mortgages and you will need the rent to cover around 120% of your repayments (it used to be this figure, maybe more now) We have a few properties and its the best way to invest your money if you can but be prepared to put some of the rent away every month for repairs and essential yearly checks .

[Ric.ror]

Thank you all for your answers
A lot to think about there I think
I did + the programme last night but I have not had time to view yet