Get Free Expert Research Here …
As with any investment, research is very important but, in the case of buy to let or any property investment, research is absolutely vital due to the long term nature of buy to let or property investment.
The problem with buy to let is that whilst an investor can get a load of information from numerous web sites, often free, it really is necessary to get out and explore the location on almost a street by street basis.
In that way buy to let differs from almost any other investment.
You don't need to physically inspect the company whose shares you are buying or test the coffee.
Every investor whether “thinking about it” or “actual” needs to thoroughly research the area or location in which they are going to invest and we are not alone with this recommendation.
'Research is key' - buy to let mortgages
Extensive research is a vital part of the property-buying process, one industry expert has explained.
According to Timothy Lambert, head of consulting at independent property investment consultancy Ducalian, it is important for buyers to gain an insight into the potential regions they will be purchasing in.
Research Vital in Buy to Let Market - Property Hawk website editor Chris Horne reminded us.
Speak to an expert for advice or research areas where there is a good rental market.
If you do your own research you may want to consider contacting your local authority or housing department and ask if there is a demand for rented accommodation. From The Buy to Let Business
Top of Simon Lambert, This is Money list of do’s “Research the market”
…………….anyone considering buy-to-let needs to be a savvy operator and do their research. Lee Grandin Landlord Mortgages, managing director
This is the case regardless of whether the investor is going DIY or using the services of an Armchair Investment Scheme such as our “First Choice” Scheme or others on this site.
Researching properties going through Auction is even more specialised, I have recorded a 1 hour Webinar on what I do pre-auction which is split into 4 15min easy to listen to sessions, to listen either click here or on Research on Auctions in the right hand menu.
Most locations are only suitable for specific buy to let investments.
For example:
HB Tenants:
Want 2-3 bedroom properties close to shops and public transport. Locations should have high unemployment and a local benefit culture.
There is little point in investing in an area which has low unemployment or where the Local Housing Allowance (LHA) is to low for your needs.
Also you must be prepared to accept Housing Benefit tenants regardless of the recent change in the legislation regarding direct payments to landlords.
Students & Sharers:
Want 4-6 bedroom properties close to the “action” and within 10 minutes of their University or Public Transport, if they are professional/working sharers, as against students.
HMO’s (Houses in Multiple Occupation) have a very limited appeal and will only prove to be good investments in very specific locations where there is a stable demand for sharer accommodation.
You might expect that to apply to any Town or City with a University, but that will not necessarily be the case.
Researching a location should be carried out on a street-by-street basis and, in some cases, even a part of the street can make a difference between being successful or not.
The proximity to a Public House, road junction, sleeping policeman or other traffic calming measure, commercial premises or factory can easily make a difference and this information is generally not available from any source other than a person who has walked the streets with investment in mind.
A great deal of research work can be carried out on the Internet and the web sites that you can visit broadly fall into three categories.
1. No commercial bias at all
2. Some commercial bias but information can still be relied on
3. Very commercial and information may be presented to justify a position
This is my take on the sites that I have listed and reviewed, you may disagree, but either way you have to either Register or Login to view this research.
All the sites that are listed offer FREE INFORMATION, some may require you to register, like us, but others are completely open.
Also if you know of any sites that you think should be included please email info@buy-to-let.com.
Become a Location Research Expert
To be successful, every buy-to-let or property investor must carry out detailed research on the location in which they plan to invest.
The investment does not necessarily have to be buy to let, it can be buy to flip or any of the other variants, lease options & HMO’s to mention a couple, but the research remains imperative and a cornerstone to your success.
A great deal of research can be carried out on the Internet, if you know what you are looking for.
I have put together and published on buy-to-let.com pages of research content that is almost all Internet based.
The problem with this information is that is does not tell me/you what is happening in a Location like Clapham Junction in London, even though there is a website devoted to this Location.
Another example is a suburb of Oxford called Summertown, and here, outside of Wikipedia, there is no generic information, just the sites of estate agents, restaurants and the like.
Even the sites about the City of Oxford, oxfordcity.co.uk & oxford.gov.uk barely mention Summertown, and the same applies right across the UK.
Investors though need detailed information, as seen through the eyes of an investor, in order to make informed decisions about their strategy in a particular location.
I also suspect that, when the current credit crunch eases off, lenders will want to see much more information on the viability of any investment that they consider lending against and that will include the viability of the location of the investment both in the short and long term.
With buy to let.com you can both learn how to research a location plus write up your research in a pre-set format and have it published on www.buy-to-let.com under our Research heading, go take a look, you will have to register first.
We already have a few locations up and more will follow in the next few weeks with the existing locations being both improved and enlarged.
You will not only learn a great deal more about your favourite investment location, making you own investments safer, but develop knowledge that other investors will pay for on a consultancy basis.
If you are interested in becoming a Location Research Expert, and you don’t have to be actively investing, just seriously thinking about it is enough, then please email me at david@buy-to-let.com with the subject heading Location Research and I will send you further details on how you can participate in this exciting scheme. A little about yourself would be helpful plus your investment location.
