A woman who owns six buy-to-let properties says anyone can become a successful landlady or landlord.
Susanne Norton, who lives in Ramsden, started building her portfolio 15 years ago when she retired.
Her first buy was a building in St Clements with a studio flat on the ground floor and one-bedroom apartment above.
Since then she has added a two-bedroom cottage in Old Marston, a two-bedroom apartment in Headington and period cottages in Ramsden and Chilson.
She said: “It’s quite time consuming but very satisfying.
“I would not buy anything I was not happy to live in and you have to put money back in to keep it looking nice.
“Look after your tenants because good tenants are like gold dust.”
Mrs Norton warned it was easy to over-estimate profits.
She said: “All this talk of an eight per cent yield is rubbish. A more realistic figure is between three and five per cent.
“I am not a business woman but see it as an investment. It’s satisfying to know my children will have something at the end.”
Mrs Norton uses letting agents Scottfraser to manage five of her properties and advises finding a good accountant.
She added: “A lot is expected of the landlord safety-wise and you have to be aware of the tax implications.”
And the uncertain nature of the market has not deterred her from future purchases.
“I am still buying because it’s an absolutely brilliant time and an opportunity,” she said.
The Old Post Office in Chilson has three bedrooms and is available to rent, unfurnished, for £1,500 per month.
For more information, contact Scottfraser on 01993 777909 or visit scottfraser.co.uk
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