Although we won’t attempt to answer the above question, we know a man who will! Tonight sees the launch of Channel 4’s latest property offering giving advice to people whose housing investments are less than lucrative.
The TV programme, presented by Dave Fishwick, previously known for his hit show the Bank of Dave, aims to dish out advice on property investment. It will show regular people how they can make money from property.
Although there is no doubt that, approached in the correct way, investing in property can certainly deliver favourable returns, it definitely shouldn’t be viewed as a license to print money. This is especially true when the idea is being pitched toward people who are significantly less wealthy than Dave the front man, and who can ill afford to lose thousands of pounds if things go wrong.
The show is yet to be aired and we are sure that Dave will have many sensible and helpful suggestions with regards to property investment. However, we hope and pray that shows of this type will not lead potential investors to jump in without scrutinous research and a firm understanding of the regulations, commitment and responsibility that comes with such an investment.
For anyone tempted to buy an investment property after watching Dave’s show, ask yourselves the questions below, read our guide to buy to let investment and, if you are still keen, use the services of professional lettings and estate agents to ensure your investment has the best chances of success.
- If things go wrong can you afford to loose your deposit?
- If you can’t find a tenant for a rental property will you still be able to cover the mortgage?
- Will the location of our rental property deliver significant purchase or rental demand?
- Do you have the time to renovate or manage the maintenance of an investment property?
- Do you have an expert mortgage consultant on board to help you finance the property?
- Do you have an exit plan?
- Are you aware of the relevant regulations and tax obligation?