Buy property for both resale and to let

[gregory]

Hello,
I am brand new to this business and looking for advice. I am thinking of buying properties with my father in law who is a builder - I find the houses and handle all the financing, tenanting etc, he manages all the renovations. I think it could work well.
Whilst I don't expect you to pass on your closely guarded secrets, I would appreciate any advice/tips on how to buy property for both resale and to let at the right price. In particular, where do I find such properties?
Also, are there any recommended books/courses available that are aimed at turning a complete novice like me into someone with enough knowledge to actually find and buy discounted properties?
Thanks
Gregory

[mitchell]

Hi Gregory,
There are a wealth of companies offering courses and services for property investors. Unfortunately many of them are not that good. Seek advice from someone who has attended before paying any money for property education, as more often than not it can be sourced for free.
The moneylender.co.uk offer a free buy-to-let guide which sets out the basics. You've already started on the best way to get specific information - the Internet. It always takes a little bit of filtering out but everything you need to know is there. Forums like this are great for getting responses to specific queries. I can point you to loads of websites if there's anything in particular you're researching.
A little obvious, but the three key areas for me:
a) A decent mortgage - there are some very clever ways to structure the purchase of property. A sound broker is a must. b) Rentability - all too often 'to let' signs stay outside properties for far too long. c) Tax - being tax efficient can save you a great deal.
Good luck
Mitchell

[vngrape]

And also, finding someone who actually know, who has been in that business for a significang number of years and also has been successful in it would be beneficial. He would be able to give you at least vicarious experiences and tips and what and what not to do and also errors you might want to avoid. You could also be sure that what he would be telling you is not theoretical advices only.