There are some further points that need making:1. Most Buy to let involves a major time input which has a monetary value - but all buytoletters forget that.2. WHEN an asset( ANY ASSET OR ASSET CLASS) is undervalued you will(?) do well - and frankly it doesn't really matter what it is.( eg If you had bought antique silver about 15months ago you would be laughing return wise) 3. It is very difficult to diversify as a buytoletter.( Saying you have a diversified portfolio when it consists of two or three buytolet flats in eg Sea Point is a" I must go back to school about diversification"comment). 3. I have just sold my second buytolet flat in a top top area- and the result after 9 years is a (high) SINGLE DIGIT return.( and goodness knows what sweat in between - in an area where if your domestic is not driving a Benz you look underpriveledged. SO I can tell you that listed stuff carries more yes than no. 4.Finally - Tenants are nightmares- period and BC's and Managing Agents are time time time time time!( R c) And in closing - If you get a good feeling standing there and looking at the bricks and mortar - then ask yourself some hard questions
i dont know anybody who owns lots of property who aint well off. best profits not always made in the wealthy areas. also dont use bad agents. i dont spend more than 6hrs a year talking or mailing my letting agents.
the Ministry of Cooperative Governance and Traditional Affairs released a statement almost immediately, which said: "...contrary to media reports on the draft Bill, people who own more than one residential property will not have to pay commercial rates on their additional residential properties. The intention is to ensure that guest houses, bed and breakfast establishments, small hotels and the like pay commercial rates. If necessary, we will amend the draft to make this clearer before submitting the bill to parliament."