Chris Horne said the changes in the market meant that to succeed now investors needed to do a lot of research and not rush into purchases.
Noting that “in the past people were running blindly into it, without doing the research”, he said investors should look at around fifty properties and then eventually narrow down their search to the best three prospects.
Emphasising that buy-to-let was a “long-term” business, he said many had been caught out by speculative buying brought on by short term price rises, adding: “They should be thinking more in terms of 15 years.”
Figures from a recent report by the Royal Institution of Chartered Surveyors state that the present average deposit required for a property by a buy-to-let investor is £65,000.
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