Have 100k to invest...student letting?

[DonAmilo]

I have sold a house in Leeds, and I'm looking to invest the money in student accommodation.

Basically I was making nothing of the house, and it was more headache than it was worth!

Student letting is something I have always wanted to foray into. The wife owns a 6-bed student let, and seems to be doing well out of it.

I'm thinking put a 50k deposit down on two 4 bed houses.

Anyone here done it?

Cheers

[maser_spyder]

DonAmilo said:

it was more headache than it was worth!

This, and you want to do student lets?

Might be worth thinking again on this one, sorry!

[DonAmilo]

maser_spyder said:

DonAmilo said:

it was more headache than it was worth!

This, and you want to do student lets?

Might be worth thinking again on this one, sorry!

If i am making substantial returns, i'll gladly deal with the headache to be honest.

The house in Leeds was a headache purely due to repairs/and extremely fussy tenants.

I'm not saying students aren't fussy, but i'll defo be making a decent return ont he student lets.

[Cara Van Man]

and you think students will respect your property?

I'd leave well alone.

[GTIR]

PM sent

[touching cloth]

Used to do it up in Edinburgh but not sure I would be arsed with it now. Along with the normal student agro of the potential for them to wreck the place, be rubbish with paying rent, not wanting the place over Summer Holidays etc etc... you will also have to comply with HMO regulations which seem to be a mire of red tape. Can work and I am sure there may be money in, but there are pitfalls galore.

[maser_spyder]

DonAmilo said:

maser_spyder said:

DonAmilo said:

it was more headache than it was worth!

This, and you want to do student lets?

Might be worth thinking again on this one, sorry!

If i am making substantial returns, i'll gladly deal with the headache to be honest.

The house in Leeds was a headache purely due to repairs/and extremely fussy tenants.

I'm not saying students aren't fussy, but i'll defo be making a decent return ont he student lets.

I make good returns on my places, but it's hardly hassle-free. In fact, if the market wasn't so bad, I would take the money and run, there are much easier ways to earn a few quid.

There's equally good returns on some commercial properties at the moment, but you get a fully repairing and maintaining lease, etc.

My places are renovated every year, otherwise they fall in to a bad state of repair within 3-4 years, and require a full renovation. It's a lot of hassle, even though the returns seem to be good.

[DonAmilo]

GTIR said:

PM sent

How do i check my PM's mate?

Cheers

[AB]

DonAmilo said:

GTIR said:

PM sent

How do i check my PM's mate?

Cheers

Be in your registered email inbox.

[v1paul]

If your wife is a bit of an expert on student letting then I'd say go ahead. Probably best to have a fairly stubborn attitude with students... if they get fussy don't pander to them at all and be very persistent with them if the rent is late.

[DonAmilo]

v1paul said:

If your wife is a bit of an expert on student letting then I'd say go ahead. Probably best to have a fairly stubborn attitude with students... if they get fussy don't pander to them at all and be very persistent with them if the rent is late.

Wife is a police Sergeant. She normally checks up on the house after work and the students are sh!t right up.

Moreover, she has a signed agreement that the parents pay the rent, and also that the parents will pay for all repairs caused by their kids. Its legally binding.

Pretty watertight contract from what i gather. She dont take any sh!t, i know as i married the bint!

[Frankeh]

Gut it.
Ikea it.
Firedoor it.
Smoke detector it.

My guide to student digs.

[Mr Darcy]

Frankeh said:

Gut it.
Ikea it.
Firedoor it.
Smoke detector it.

My guide to student digs.

And repeat every year after the students have trashed it.

[v1paul]

DonAmilo said:

v1paul said:

If your wife is a bit of an expert on student letting then I'd say go ahead. Probably best to have a fairly stubborn attitude with students... if they get fussy don't pander to them at all and be very persistent with them if the rent is late.

Wife is a police Sergeant. She normally checks up on the house after work and the students are sh!t right up.

Moreover, she has a signed agreement that the parents pay the rent, and also that the parents will pay for all repairs caused by their kids. Its legally binding.

Pretty watertight contract from what i gather. She dont take any sh!t, i know as i married the bint!

In that case I'd so go ahead

[Frankeh]

Mr Darcy said:

Frankeh said:

Gut it.
Ikea it.
Firedoor it.
Smoke detector it.

My guide to student digs.

And repeat every year after the students have trashed it.

Hence the ikea furniture.

[maser_spyder]

Mr Darcy said:

Frankeh said:

Gut it.
Ikea it.
Firedoor it.
Smoke detector it.

My guide to student digs.

And repeat every year after the students have trashed it.

Only if you're unlucky! But an ikea kitchen will only last three or four years if it's abused, then budget on new doors and worktop at least. Luckily, they're all cheap!

Good guide though, it's pretty much all there.

Check and double check HMO regs in your area, or buy somewhere that already has most or all of the work done, it'll save you a load of stress in the long run.

[escort90]

Mr Darcy said:

Frankeh said:

Gut it.
Ikea it.
Firedoor it.
Smoke detector it.

My guide to student digs.

And repeat every year after the students have trashed it.

i think your being unfair to students there. im at uni now in the first year and im moving into a house next year and every single private student let ive visited and ive been to a fair few have been in very good condition. im not saying everyone is perfect but dont tar us all with the same brush.

[maser_spyder]

escort90 said:

Mr Darcy said:

Frankeh said:

Gut it.
Ikea it.
Firedoor it.
Smoke detector it.

My guide to student digs.

And repeat every year after the students have trashed it.

i think your being unfair to students there. im at uni now in the first year and im moving into a house next year and every single private student let ive visited and ive been to a fair few have been in very good condition. im not saying everyone is perfect but dont tar us all with the same brush.

Not reading English then?

[Plotloss]

maser_spyder said:

escort90 said:

Mr Darcy said:

Frankeh said:

Gut it.
Ikea it.
Firedoor it.
Smoke detector it.

My guide to student digs.

And repeat every year after the students have trashed it.

i think your being unfair to students there. im at uni now in the first year and im moving into a house next year and every single private student let ive visited and ive been to a fair few have been in very good condition. im not saying everyone is perfect but dont tar us all with the same brush.

Not reading English then?

Or writing it.

[Justayellowbadge]

Can you get much for 100K?

That'd barely pay for a decent wedding.