Starting Property Investment Portfolio Habits

Oh how exciting it is when you get the keys to the first house you buy.  With this thrill comes the down side . . .  having to keep it maintained and fully safe and functional.  The terms of the mortgage will insist on at least the basic jobs be undertaken to stop any problems actually starting up.   Once someone gets the hang of it or chips in for another company to do this work, then they might think about buying another property and starting an property investment portfolio.  Many people like to put their money into this kind of scheme as the banks and financial markets are so volatile and no interest seems to come our way.   To buy at auction for a ‘song’ and have the house or flat renovated or just refurbished allows it to be rented out pretty quickly to start earning its keep.  Then with buy to let financing, the next property is purchased and the actions repeated.  With careful and prudent financial controls, the rental income will be sufficient to meet the mortgage payments plus all other costs associated with running the property and leave some spare for the investment pot.