Buying to let

Frequent Flyer Joined: 04 Aug 2008 Posts: 29

Trying to budget.

Could anyone out there who knows the current rental rate you could expect in West Bay, South Sound or Sav/Newlands for a room in shared house.

Im looking to buy 2 around the 3bed/ 3 bath or higher size and I want to let them per room to long term stays not tourists and want to get my figures right before buying .

I will be putting down good deposits but want to make sure there is enough to cover a 1000 ci per month mortgage for the two units .

We fly out to view in June next year and I want to sell my UK business prior to moving.

Finally could you clarify for me once I own real estate will I need work permits when we fly out , I and my partner will still want to work in the dive industry so will permits be needed once we are residents.

Thanks in advance

PADI CD UK soon to relocate Jump

Frequent Flyer Joined: 15 Feb 2005 Posts: 80

What type of price range are you looking at. That will give you the area and type of rent to expect. There are rental sites on line and Joe could direct you to them.

Also be prepared for Lawyers fees and stamp tax. I bought a few years ago and would advise you to consult with a local agent and find out what restrictions there are in regards to the amortization the Banks will lend on. I know there are restrictions. Lawyers also can tell you which Banks are easier to deal with.

I hope this helps.

Leo

Posted: Thu Nov 06, 2008 2:19 pm Post subject:

Please contact my friend Bill Baldwin. He really works hard with the visitor's best interest a priority and even offers a free or highly discounted yacht trip to view properties from a sea perspective. You will find his contact details here HERE.

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