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Advice needed on investing an inheritance

Started by Greydog, August 24, 2016, 02:04:15 PM

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Greydog

Hi all

This is my first post.

I will be in the envious position of inheriting about £200k now (plus two properties worth £850k down the line) which I plan to invest in property. I have some options with this in my mind but would welcome some advice.

My thinking is to try and build income producing assets but I may not have enough funds to do that right away. So these are my thoughts so far:

1.  I can either buy one property which I will live in, build some equity and hope to see a rise in value
2. I can try to buy / invest in two studio type properties, one of which I'd let out and other I'd live in - giving me a regular ROI / yield.
3. I can try and leverage all or part of this cash amount to raise a mortgage and do any combination of point 1 & 2  (although I'm 51 with inconsistent pay slips etc for lenders this may be an issue)

I'm looking in the Sussex area - Worthing, Littlehampton, dare I say it Brighton and Hove!

Any advice from you experienced folk would be much appreciated.

Hippogriff

Always buy a home for yourself first. Play later.

Greydog

Quote from: Hippogriff on August 24, 2016, 03:20:37 PM
Always buy a home for yourself first. Play later.

Thanks Hippogriff. Thats good advice. I will definitely give that a lot of thought.