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Wednesday, August 04, 2010

Diary of a slum landlord

Many newbie landlords were drawn into property investing by the allure of being a successful property investor. Fast cars...glamorous yachts.....endless wealth power & of course sex appeal.

There is another side to renting property. The bottom end. This is not about renting to sharp suited young professionals or nice cosy teacher types. This is about letting property to the bottom end of the market. Those tenants stuck on benefits & no where to go. It's dirty, shabby, but can be highly lucrative.

In his own words Graham* owns a substantial portfolio of property in the north east, and says he's been letting to tenants on benefit for donkey's years. "It's like being a second hand car dealer," he says. "The mark-up is high, but it's the shitty end of the stick."

So for some landlords prepared to roll up their sleeves & get down & dirty 'where there is muck there's brass.' For me........I'll stick to my nice middle class tenants & leave that very lucrative side of the business to some other landlord.

Read Claer Barrett's highly illuminating article in Investors Chronicle

Landlord insurance - price beating portfolio discount

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