Landlord Selling Properties In England
A somewhat colourful landlord who lets out 150 properties in England says he’s had enough of the sector and will be investing money into other areas.
Ajay Ahuja says: “If you are thinking of becoming a landlord in England you must be crazy. I’m out!
“Levelling up, minimum EPC grades and abolition of Section 21 notices are just a few of the new laws coming in. You don’t have to be a genius to work out the direction of flow.”
However he will still let out his portfolio of properties in Scotland despite quitting the sector in England and is looking to enter into new areas of investment in other countries.
He does say that the only property investment he will undertake in England will be ‘flipping’ homes in the north which he buys for a relative ‘song’ and renovates for a worthwhile profit.
He says: “We complete a property a week and sell it for around a 50 per cent return after costs. We can make as much money from one sale as we do for a whole month’s profits from rental stock.
“If you’re into buy to let – invest in Scotland. If you want to buy and sell – do it in England. It’s not rocket science. Aim for a 12 per cent yield for rentals and 50 per cent net profit on buy and sell.”
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