Investors should do research before buying

Posted: 13 Nov 2007 10:56:41 GMT

Landlords must ensure that they do their research before buying an investment property.

Landlords must ensure that they do their research before buying an investment property.

Property Hawk has issued the warning to investors and says that those who fail to look closely at the local market before investing could find themselves running into difficulties.

Chris Horne, editor of the website, said that in years gone by people rushed into investments and got into trouble.

"In the past people were running blindly into it, without doing the research. And that is what it's all about," he commented.

"You need to do thorough research and maybe look at 50 properties, putting in 50 offers, ending up with two or three that are serious contenders and going forward that way, rather than buying the first place you see.

"This is a long-term business and people should not be attracted by the fact that property prices went up by X per cent over six months. They should be thinking more in terms of 15 years," continued Mr Horne.

The National Landlords' Association (NLA) recently revealed that buy-to-let investors in London are benefiting from an influx of young professionals who cannot afford to buy in the city.

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