Dear Property Doctor,

I’m a newbie to investing in property. I’ve got £50k saved up and would like to know what you think / your views on the best sorts of property that I should invest in?

First, ask yourself the following questions:-

1. Are you practical? (i.e. can you carry out repairs/ maintenance/ building work etc)
2. Do you have spare/ available time in your life?
3. Are you planning to rely on this as a new source of income?
4. Why would you like to invest in property? What is your ‘end goal’?

If you aren’t practical, then don’t overstretch yourself by choosing large renovation projects.
Start with maybe one property close to where you live (do some research). This would enable you to possibly manage the property yourself. (big savings possible here)

If you are looking at creating income then possibly look at HMO property

Location, location, location – is key. If you really want to optimise your investment returns you need to choose an area that is “on the up” so that over time you will have good capital appreciation plus the potential to create short term profits from the rental income surplus.

In summary

1. Research
2. Research some more…
3. Start small