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Do your research. The first step in making any investment is research. How much do you know about the market? Are you familiar with the benefits as well as the risks involved? Aside from reading articles and relevant books, you should also interview people who have entered the buy-to-let market as you can definitely learn from their experience. This will allow you to avoid committing costly mistakes along the way.
Choose a great location. For a lot of people, location is one of the main considerations when they’re buying or renting a house. If you’re getting into this type of investment, you should always keep this in mind. Houses that are located near important establishments are usually the ones that get sold easily.
Deal with the numbers. Sit down and do the math. How much deposit can you afford? How much rent do you expect to get? How much money you need for your insurance? How much money will you need to cover rent if you’re unable to find tenant for several months?
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