A
AndyP
New Member
Hello
Looking for some help on investment in property. normally I’m pretty good at decision making but definitely hit a wall lately as I don’t want to make a big mistake !
To set the scene:-
I have a 450 k house with no mortgage
3 x buy to let’s all with a mortgage and 30% deposit all producing income and capital increased by about 20% and worth around 100-120 k each .
i have around 150k in Cash to invest / currently work and am 40 so have a good 15-20 before retirement !
my question is I’ve always liked property but don’t work in it for a main job I’d like to create a secondary income stream to either supplement my job for retirement or to replace it(property restoration) but what option is best from the below or any other suggestions ? I’m slightly concerned by new tax laws clamping down on small buy to let landlords in resi.
1. invest my cash in more buy to let’s - residential and just keep buying more till you get a satisfactory retirement income ( at least 3k per month)
2. move into small commercial properties as the tenant manages the property more and tends to stay for 3-5 years On a lease so slightly less management
3. move everything into property flipping buying Property around. 250k funded by cash and gradually selling my resi Btl properties . Any advice on restoration loans / mortgages ?
4. borrow money against my main property to buy new residential or commercial let’s , and the cash I have to generate income outstripping the new mortgage - lets say I borrow at least 250k against the original 450k
5. Get fed up trying to make the correct decision and have a mid life crisis and buy a sports car !!!
any help or ideas would be helpful even If you did something different in a similar situation
Looking for some help on investment in property. normally I’m pretty good at decision making but definitely hit a wall lately as I don’t want to make a big mistake !
To set the scene:-
I have a 450 k house with no mortgage
3 x buy to let’s all with a mortgage and 30% deposit all producing income and capital increased by about 20% and worth around 100-120 k each .
i have around 150k in Cash to invest / currently work and am 40 so have a good 15-20 before retirement !
my question is I’ve always liked property but don’t work in it for a main job I’d like to create a secondary income stream to either supplement my job for retirement or to replace it(property restoration) but what option is best from the below or any other suggestions ? I’m slightly concerned by new tax laws clamping down on small buy to let landlords in resi.
1. invest my cash in more buy to let’s - residential and just keep buying more till you get a satisfactory retirement income ( at least 3k per month)
2. move into small commercial properties as the tenant manages the property more and tends to stay for 3-5 years On a lease so slightly less management
3. move everything into property flipping buying Property around. 250k funded by cash and gradually selling my resi Btl properties . Any advice on restoration loans / mortgages ?
4. borrow money against my main property to buy new residential or commercial let’s , and the cash I have to generate income outstripping the new mortgage - lets say I borrow at least 250k against the original 450k
5. Get fed up trying to make the correct decision and have a mid life crisis and buy a sports car !!!
any help or ideas would be helpful even If you did something different in a similar situation