A flamboyant landlord with 150 properties in England says he’s quitting the sector and taking his investment money elsewhere.
Ajay Ahuja says: “If you are thinking of becoming a landlord in England you must be crazy. I'm out!
“Levelling up, minimum EPC grades and abolition of Section 21 notices are just a few of the new laws coming in. You don't have to be a genius to work out the direction of flow.”
He says he is going to stick with his separate lettings portfolio in Scotland but will otherwise quit buy to let in England and diversify into various types of investment in different countries.
His only property investment in England will be flipping homes in the north which he bought cheaply and renovated.
“We complete a property a week and sell it for around a 50 per cent return after costs. We can make as much money from one sale as we do for a whole month’s profits from rental stock.
“If you're into buy to let - invest in Scotland. If you want to buy and sell - do it in England. It's not rocket science. Aim for a 12 per cent yield for rentals and 50 per cent net profit on buy and sell."
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