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Buy to let isn't dead. But it's not what it was, and many landlords have never run the real post-tax numbers.

Gareth has owned buy to let through two full market cycles and sold out both times. Chris comes at it from the maths, which are unforgiving. Together they get into:

• Why so many landlords are selling up, and why it's more structural shift than panic
• Gross yield vs net yield: the gap that catches most landlords out
• Section 24, capital gains tax and stamp duty: how the costs of getting in, staying in and getting out have changed
• Where buy to let can still work: location, value-add, limited companies and HMOs
• The honest question: £100,000, buy to let or invest? What each of us would actually do

Plus three real listener questions:
1. Two buy to lets. The accountant says wait, the planner says sell. Who's right?
2. 42, never owned property. Buy to let or stocks and shares?
3. Inheriting a parent's buy to let portfolio: gift or burden?

Our takeaways: work out your true net yield this week. And before buying, ask yourself whether you want the return, or the job of being a landlord. Because it's both.

Got a property question? Send us a voice note or message on Instagram @seriousmoneypodcast, or email help@seriousmoneypod.com. The best questions go straight into the Q&A.

Serious Money is for general information and discussion only and does not constitute financial advice, tax advice or a personal recommendation. Tax treatment depends on your individual circumstances and may change. Buy to let property and most buy to let mortgages are not regulated by the Financial Conduct Authority. The value of investments and property can go down as well as up, and you may get back less than you invest. Please seek regulated financial and tax advice before making decisions.