I am buying my first buy to let property. I live in the south east. My and my partner have decided to buy in the north east (northumberland) because this is where the yields are best as property is very cheap. The property is two bed and was around 100k
I want your help because I need to know if it is sensible to do a buy to let when you live so far away. Is approx 6 hours drive from our house to the property. We are using a big local letting agent (who we also bought the house with tho this is a coincidence) to manage but you hear some bad stories of this?
I am part retired (early 60’s) and we have paid off the morgage so I have some time and we have no mortgage payments so can handle a void period for a few months. But we also need to start having the rental income to fund our retirement.
Thankyou for your help!