Welcome to the reallymoving forum
Got questions and need some advice? Our forums have answers on everything from choosing the right property, to renting and selling.
  • If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Announcement

Collapse
No announcement yet.

Are flats to rent in Edinburgh good to build your wealth?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Are flats to rent in Edinburgh good to build your wealth?

    Being a letting agent myself, I know that some people consider rental real estate investment to be good for building their wealth. But how often does this really work out?

    In theory, it seems easy that you buy a property in addition to your main residence and rent that for building your wealth. This is because in rental properties tenants are your source of income and they also have to pay your mortgage, which helps in growing your equity over time. However, your ‘flats to rent’ in Edinburgh are not always a sure thing.

    In 2014, I bought a family condo in Edinburgh for renting it out. But my situation didn’t go well due to a number of reasons: 1) the property, after a rising as high as 25%+ over the purchase price, ended up for only a 5% gain through rental. 2) I also had to make some updates in the kitchen and repairs - all were out of profit. 3) For a long time, the property even remained empty because of people willing to living near the city, and my property is in the countryside.

    So, I would suggest you to always calculate your return on investment and other factors, such as recession and location, that may affect your property’s rental situation in the long run.

  • #2
    One of the ways of reducing costs while searching for property is to pay attention to phone codes. After all, we deal via phones pretty often and if we mix codes it can lead to expenses. So, check this site https://areaphonecodes.com/france/ before making long-distance or international calls. There's not only France but all the countries.

    Comment

    Working...
    X