24 Feb 2021
Alan Neal has been a client of ours for years now, a detail-orientated and fair landlord with great portfolio properties. Let's learn a little more about his reasons for getting into property investment.
How did you get into buy to let property and what was the appeal of investing in Hull?
I was hoping to be able to retire early and I knew my pension wasn't good enough to be able to do this on its own so I started investigating the property market in Hull. I've lived in and around Hull all my life and when I started looking into the property the rental yield in Hull was very good.
Would you consider yourself a full-time landlord, do you have another occupation?
Currently, I work full-time so being a landlord is something I've been doing on the side but have thoroughly enjoyed and I've learned a huge amount over to last few years.
If you were to expand your portfolio, how would you go about it?
To avoid having to carry out lots of refurbishment work, I would look at buying tenanted properties on and off the open market (but may consider auction properties in the near future?)
Do you see yourself as more likely to invest in additional property or sell your portfolio in 2021?
Definitely looking to invest further to bolster my pension. The market is strong at the moment so it's difficult to pick something up below market value, i'm monitoring several places including the Ultralets marketplace.
Has property investment delivered what you expected when you started out?
Yes (I'm looking to retire at the end of March '21, partly funded by rental properties)
What do you see as the most beneficial thing about working with the Ultralets team?