There are lots of misconceptions about property investment so over the past few months we have been helping to dispel some of them by busting myths. If you are curious about some of the most common myths in the industry, take a look at these articles.
- Myths about Houses of Multiple Occupancy (HMO)
- Myth 1: I have an HMO licence so I do not need planning permission
- Myth 2: My small HMO will automatically be valued on and investment or “commercial basis”
- Myth 3: I do not have property investing experience, so I will not be able to get an HMO.
- Myths about buying properties at auction
- Myth 1: You can just turn up at an auction and buy a property.
- Myth 2: Buying properties at auction is harder because you cannot get finance and you need to pay everything on the day of the auction.
- Myth 3: If I get a loan to buy a property at auction that is going to hit my cash flow because I’m going to have to pay it back every month.
- Myths about short term loans
- Myth 1: I don’t need a short-term loan, I can just use a buy-to-let mortgage while I do refurbishment works on my property.
- Myth 2: Short-term loans are too expensive.
- Myth 3: Short-term loans are a last resort and are only used by people who have not managed to get other finance in place.
If you have any other questions about property investment – get in touch by emailing firstname.lastname@example.org or call us on 01923 655441.