More and more people are turning to bricks and mortar as an alternative way of making money and providing a pension. This book provides a step by step guide to investing in a second home, whether for long lets, holiday lets, or buying for sons or daughters at university. It features: how to raise money for purchase; how to choose the right property in the right area; managing your holiday cottage - and its tenants; managing long and short lets; buying a property for your children at university; the pros and cons of using letting agencies, and how to do so; managing the cash flow; how to overcome problems should they arise; and building your property portfolio.
Contents: Acknowledgement Introduction 1. Why buy an investment property? 2. Raising the money 3. The right property 4. Who needs an agent anyway? 5. How to market your property 6. The long- letting landlord 7. Furnishing a holiday cottage 8. Cleaning a holiday cottage 9. Managing a holiday cottage 10.Buying for student children 11.Rules, regulations and legalities 12.What to do if it all goes wrong 13.Money out 14.Money in 15.Building your empire Appendix 1 - Checklist for furnishing your long let Appendix 2 - Checklist for furnishing your holiday let Index
Wendy Pascoe is a former BBC journalist, most recently attached to the World Service and Radio 4's Today programme. She left the BBC in 2002 and moved to Cornwall to set up and run her own property letting business. She is also the author of Starting a Business in the Country.