UK Landlord Forum / Life

What would you do if you had 90k to invest in the current environment.  Would you go for a couple btl flats or a house or something else

Hmm...i'd probably use half the money to buy a small 2 bedroom house and the other half to clear some mortgage debt.

You?

Would not touch a flat if you paid me - highly unlikely you will get a mortgage for one in the current climate anyway!

I agree with the reduce mortgage debt. Also look at paying off credit cards etc as they charge more than you are likely to get back via rental yield at present. The B2L mortgage market is terrible. 30% equity and silly restrictions from lenders ie even though you can prove you have £1400 a month coming in - the surveyors will value the house only as a single family home. So if you have 5 beds they will look at the local area and if a family house goes for £700/month that is what they will base it on. If you have locks on individual doors forget it - they will say it's an HMO and there are probably only 2 or 3 deals available. The mortgage companies just don't want the risk or the business.

Total w*****s! Its through their own negligence that the financial situation occured and but now everyone is being discriminated against even though they have viable business plans and verifiable income. Some lenders want proovable evidence that income is in excess of £35k.

If you can affort it and really do your sums, screw builders and suppliers down and can do a lot of the work yourself to a good/high standard (not general diy) why not look at auctions BUT do your research on the area. There are some bargains apparently but yields can be quite low. However you are going to get F all return on principle with the interest rates being so low.

www.moneysavingexpert.co.uk is a good place to have a mooch especially the forums. I woul dsay see an IFA but sometimes lit like putting Dracula in charge of a blood bank and th eonly person I really trust with my money is me. If I balls it up then at least it is my own fault. If  someone else does it all I woul dget is guilt and they woul dget away scott free after pocketing any commision/procurement fee.

Jools

You could of course send it to me and PF! We promise to look after it for you - I would invest in such items as Cristal 1996 and a rather nice hotel in the Oman that does an excellent line in 5* suites. I would keep you informed of your investment via SMS and the odd picture...........

There are some very nice properties in Florida at the moment as well (seriously) that could be worth a flyer - but houses built after 2004 have an issue with 'toxic drywall' apparently. The stuff comes from China and is mixed up somehow with the baby milk scandal and eats air conditioning systems apparently. Nothing can be done except ripping th elot out and starting again.

Let me know if you want to take  me up on my offer - dont mind starting asap and i wont even charge you a fee!!!

Yours in anticipation and travel agent on speed dial.

Jools

I'm with Jools- send us the money! I'm sure we'll spend it...somehow!

I've never been into flats or leasehold properties. That's just my personal choice, though =/

What about a commercial mortgage and renting it out !, i am sure you could get more rent these days from the RIGHT business

Not sure about commercial at the moment - lots of business going bust and plenty of choice on the high street for shops etc. Why not take a flyer and buy something at auction cheap?

Jools

Hi all,

If i had that kind of cash lying around I'd probably have a look at investing in property in Brazil - the economy is booming out there, they have a brand new mortgage industry and the weather is really rather nice...

Tim