I'm a bottom fisher!

Landlords, I have a confession to make. I'm a bottom fisher and I'm starting to get excited!

Where do professional landlords go for their landlord insurance?

No this isn't my 'coming out' proculmation, but it does reflect my views on the current housing market. Since 2004 I've been in somewhat of the doldrums. I sold up several properties during 2004-2005 believing that the market was fully valued and that barring development opportunities there was very little significant growth left in the market. I decided instead to retrench to a portfolio with good rents and income generating credentials feeling that these would make better long-term residential investments. In many ways this was true as the part of the east midlands in which I invest in has shown generally relatively little movement during this period. However, there have been exceptions in that the top end and areas continued to power ahead. To my simple outlook the market was all going a little crazy and I know longer understood it.

Getting my enthusiasim back
In the last couple of months I have started to get some of my enthusiasm for residential investment back. By inclination I like to buy a bargain. Those people lucky enough to have a Wilkos in their town will know what I mean. Walk along the isles of durables, household items and now food and your eyes are greeted with an array of unbelievable bargains which lift your spirit and make you feel that you are getting an awful lot for not very much.

I am just starting to get the same feeling looking in the offices of estate agents - not quite but that feeling is starting to emerge. I spotted a refurbished maisonette the other day with an asking price of £50,000. It's been a long time since i've seen anything that reasonably price and a quick rental assessment would indicate that the property should generate a gross yield of about 8.4%. I'm going to check out the details later to day and it has been a long time since that has happened. We are not yet at the bottom yet, but as I said. As a bottom fisher I'm starting to get excited.