Chances are if you are looking at getting a buy to let mortgage, you are interested in growing a little empire of your own. A property portfolio.

There are many things to take into consideration when you are buying a property to earn an income from. The idea being that you are getting a house to give you a passive income. Where it pays off the mortgage each month and you have some change every month from it. Even if you are getting £50 a month after paying your mortgage out, it is a good start, and a powerful income. Leveraged time means passive income. Powerful, the most powerful method of getting paid.

One of the first things you need to take into consideration is obviously how much you can afford. Each month, and how much savings can you put towards it. It is important to cover yourself in case the worst happens. For example, what if you have no tenants for a few months. What will happen? If you are doing this by the skin of your teeth, and you will barely manage, then save up some more. Do not put yourself in a position where you will be at risk.

Most people you speak to, that you tell about your idea of getting a property portfolio will tell you that this is risky business. It is only a risky business when people go into it, without gaining some knowledge in that area first.

For example, people who think about investing in property think about 4 and 5 bedroom houses. When in fact, they should be thinking about 2 bedroom houses and flats. Learn how to serve the masses in an affordable fashion will accelerate you immediately. People are always looking for affordable housing. People are not always looking to rent a 4 and 5 bedroom house.

One of the best writers I could recommend that you read before you take a plunge into buy to let, or continue on this trend is Robert Kiyosaki. Get all of his books and read them like your life depends on it. His information and value is immense. He will teach you so much about properties, and passive incomes.