I have 2 properties that I bought for cash, one of which is my primary residence and one is a flat I rent out. I have just taken a buy to let mortgage on the flat and wonder what is the best way forward to building my property portfolio.
Do I buy one property with that money and then mortgage it again or do I use that money to buy two properties, putting down a 20% deposit, and get two mortgages?
I really don’t know which is the best way forward. I have worked out I need about 8 properties to be able to live comfortably. I have also sold my shop and will be getting more cash in about three months.
Thanks in advance for your helpful suggestions.