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Olah
New Member
Hi All,
I want to seek your opinion on a situation I found myself. I currently own (with mortgage) the house I live in and I bought a BTL property 2yrs ago. Right now, I’m looking to build a property portfolio that would eventually allow me to replace my living income with my earnings from property using the BRRR strategy.
The issue now is it would take a long time to save a substantial amount of money to start on this journey so I’m seriously contemplating selling the BTL I have and using the funds from it to start this journey. I’m aware it won’t be a smooth ride but if I invest 50k and I’m able to pull 20k out, it’s a lot easier to go again.
Some people have advised me not to sell the property but it’s not generating much return for me and my money is tied in there.
My question is does anyone think it’s a good idea to sell the BTL?
I would appreciate all replies and maybe I can find a mentor here that would guide me.
Thanks
I want to seek your opinion on a situation I found myself. I currently own (with mortgage) the house I live in and I bought a BTL property 2yrs ago. Right now, I’m looking to build a property portfolio that would eventually allow me to replace my living income with my earnings from property using the BRRR strategy.
The issue now is it would take a long time to save a substantial amount of money to start on this journey so I’m seriously contemplating selling the BTL I have and using the funds from it to start this journey. I’m aware it won’t be a smooth ride but if I invest 50k and I’m able to pull 20k out, it’s a lot easier to go again.
Some people have advised me not to sell the property but it’s not generating much return for me and my money is tied in there.
My question is does anyone think it’s a good idea to sell the BTL?
I would appreciate all replies and maybe I can find a mentor here that would guide me.
Thanks
