8:34 AM, 1st April 2014, About 10 years ago 11
I’m currently looking into Buy-to-Let or development properties and I would love some advice on a “what would you do” basis.
I recently sold my business and have around £200k to invest in property development or buy to let. At the moment I do not have another income (apart from savings) and I am hoping that I can build a portfolio that will provide a monthly income and allow me to expand and build an empire. I currently own my own home (valued at £350k mortgage free) and a second home worth £85k.
The question is, how would you use this money to launch a property business? With an investment of £200k, what would you see as the best way to launch a business? I am based in South Wales. There is a lot of potential with student property in my area and I have been looking at a 7 bedroom house valued at around £110k. Average student rentals are £250 per room per month here.
Any advice would be appreciated.
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