Planning for the month ahead. What do we need to do in March to continue our buy to let property side hustle and make it a success. Let’s focus on finding properties…
Finding properties to buy to let
Last month we started our research into buy to lets. We didn’t manage to work our way through all of the questions we wanted to answer. We learned a lot about buy to lets from some great people. This was from reading what people had to say in their books or blogs or websites. It was also from talking to people, mostly experts, in person.
We have decided to go ahead with our buy to let side hustle. Our focus is now on finding and buying property, making sure it is in a good state and renting it out to someone. We will do this by taking the other part of the list of things to explore.
Research for March
These are the things that we didn’t have time to do in February. It sounds simple but there are still bunch of things we don’t know yet:
- what kinds of properties could we buy?
- do we buy in England or Scotland?
- what even is an HMO anyway?
- tenants – where do we find them and what do they want?
- what does a letting agent do?
- flats or houses or commercial property?
- regulations, rules and minimum standards?
- support for landlords?
Because this list is similar, we’re going to tackle it in the same way we tackled February’s list. This is by going to books, websites, people, expert advice, blogs, YouTube videos, newspapers, magazines and whatever else we can find to help us.
Objective for March
The goal is to come out of March with a proper plan. This plan will cover how to find, fund, buy, fix and rent some properties. Because we are both still working full time, we need to figure out how we will find the time to do these things. Another key point is the question of how we are going to fund buy to let property purchases. As well as how that funding is organised.