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Ready to make my first investment - help please

K

kiehugh

New Member
Hiya all

Apologies - brand new here, really just need some pointers.

Position I find myself in is:

I just turned 35, I have £60k in the bank, always wanted to do something with property. Now feels the time to seriously think about it. I own my own home with a mortage and I am on a good salary.

My long term goal is to use property to compliment my pension provoison. Realistically I would like this to bring me circa £1000 per month. If more than great, but this is what I want to aim for.

With this in mind what strategy should I look at implementing. I only have a very high level understanding of investing in property.

To complicate matters I also have £60k that I hold on trust for my son, so potentially looking to do somethign with this. There is no reason why I could not pool the money.

Would love to pick someones brain...
 
T

totallyproperty

Administrator
Staff member
Hiya all

Apologies - brand new here, really just need some pointers.

Position I find myself in is:

I just turned 35, I have £60k in the bank, always wanted to do something with property. Now feels the time to seriously think about it. I own my own home with a mortage and I am on a good salary.

My long term goal is to use property to compliment my pension provoison. Realistically I would like this to bring me circa £1000 per month. If more than great, but this is what I want to aim for.

With this in mind what strategy should I look at implementing. I only have a very high level understanding of investing in property.

To complicate matters I also have £60k that I hold on trust for my son, so potentially looking to do somethign with this. There is no reason why I could not pool the money.

Would love to pick someones brain...
Hello and welcome to Property Forum :)

We've just broadcast a number of Chat Shows on our YouTube Channel which I would highly recommend you watching, as they answer all common investor questions surrounding Covid-19 (should you invest now... should you wait, etc). They feature some of the most experienced and well-known investors and developers in property. Here's the link.

I'm actually personally in a similar situation to yourself... I have £70k to invest and I've been undecided between Holiday Lets, Buy-to-Let or HMO. I've actually decided to go the Holiday Let route (for a number of reasons... partly because I think the financials stack up well for us, secondly we want somewhere we can use as a holiday 'bolt hole' in the UK, and lastly, I have marketing experience which I know I can use to attract holiday renters,

Have you ever done anything in property before? Do you have any 'construction' skills yourself (would you be compfrotable handly a refurb for example)? And what area of the UK do you live in?

Please check our ebook section too, as we have free ebooks on HMO investing, property developing and buy to let.

Do keep us updated on your progress :)

Best wishes,

Kelly
 
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