Property investing is a team effort. the entire process involves partnering up with another person or company. If you think you can do it on your own and take all the profit, then it might be a sorry journey for you. Buying your own property to live in you need a team of people to help you collect the keys.
- Mortgage Broker
If you are buying for investment, then you need to either save up the deposit, or team up with another individual who has cash they would like to invest. You may have the knowledge and time to invest in refurbishing a run down property, but if you are a bit low on cash to invest, then your project will struggle to get off the ground.
Many people don't want to team up with others. They don't want to share in the profits, they're too greedy in wanting it all for themselves. This is fine if you have the resources where you can do it all yourself, but if you haven't , then your project will most doubtably fail.
I would much rather have 50% of a decent investment than 100% of nothing.
Your goal might be for your childrens inheritence and not the £300pcm net profit. There might not be a net profit! You may have no knowledge of property investing and no time to learn, but you do have access to money and the motivation to provide for your childrens future. This is a classic case where you can team up with an experienced investor. You supply the funds and the investor finds the property, undertakes the renovation work, lets the porperty out and ensures it is fully maintained. You the funds provider receives enough money to pay for the mortgage and any insurances. Any money left over is net profit and goes to the investor. When you come to sell the property in 20ish years time, or whatever you decide will be your exit strategy, you take 100% of the captial appreciation of the property.
No hassle for you, the investor, the tenants. Everybody gets something out of the deal - especially your offspring.