Investing in a BTL in Manchester with a small budget

[Ellie_18]

Hi guys,

I'm looking to invest in my 1st BTL in Manchester, and looking for properties around £80-120,000.

I know this is incredibly cheap, but I was curious if anyone knows of any places that have these prices that have a decent BTL demand and good capital growth prospects. I've started researching areas like Stretford/Salford (if anyone has invested in this area before I would like some input on the best/worst areas) - but I'm struggling to find areas that will accommodate my budget but will also provide me with a good 1st BTL to get me up and running and get some experience under my belt.

I've recently heard that Gorton is relatively cheap and has good BTL demand?

Any advice/input/guidance would be great - thanks!

 

[Longterminvestor]

Having lived in Manchester over 20 years ago I know that properties near the tram system are relatively expensive. However, there is a huge student population in Manchester and I would assume that property will be more affordable the further out of central Manchester you move - while still having an excellent transport network.

I am not up to speed with the property prices in Gorton but this is probably the kind of area you want to be looking at.

 

[FWL]

Hi @Ellie_18

Did you manage to find a property? From what I hear Manchester is an up and coming area.

 

[Longterminvestor]

How is the student population in England being impacted by coronavirus? There is a huge and growing problem in Scotland. Thousands of students face the prospect of not being "allowed" home for Christmas.

 

[PostBrexitInvestor]

They will be a knock-on effect to many different areas such as student accommodation, low rental accommodation and so-called blue-collar workers. Personally, I would hold off for the moment as things could get worse before they get better. Longer term, there are/will be some very attractive investment opportunities for those willing to wait and pounce when ready, cash in hand.