A person who lives in a town or city and buys a property to rent out in another town or city is known as a Mouse Holder.
This is a route sometimes followed by people who cannot afford to buy a property for themselves in the location that they live so they buy something somewhere else more affordable, rent it out and wait for the value to rise. They then use this equity (either by selling or re-mortgaging the property) to raise the funds needed for a deposit on a home they actually want for themselves.
Full details of this are in the chapter Getting on the Property Ladder
I'm Tim Hill, Author of How to Really Buy a Property. I'm a property buyer, seller, landlord, tenant and I've been an agent in hundreds of transactions. I own a property portfolio across Europe but that doesn't mean I think you should to!
This book is my collective knowledge and experience that I have gained working within the property market of England and Wales for over a decade. I've written it so that you can benefit from what I have learnt whether you are a first time buyer or a budding buy-to-let investor.
There are no gimmicks here and no get rich quick schemes - just practical no nonsense advice so you can buy the property you want at the best price with the least stress.
Download the Free Preview copy right now. I won't be asking for your email so I can bombard your inbox with 'special offers' and 'discounts' because I know most people who read the Free Preview buy the full copy. See for yourself!