Borrowing/gearing to expand BTL portfolioMake Text Bigger
I’m on the verge of rapidly expanding my BTL portfolio. I’ve had one on the go since 2011, bought my second in 2013 and am just about to exchange contracts on a 3rd property. However, this time I’ve borrowed some of the deposit.
I’m up in Yorkshire and the returns on 2 bed houses/flats are pretty good- 15% yield before tax. I’m looking to release equity from my own house, plus a personal loan to fund two more purchases this year.
What I’m wondering is – of those of you with portfolios of 5 or more properties, did you borrow/gear-up to raise deposits?
Any advice/words of warning for me?
I am looking to cut back on some of my day job duties (lots of weekends and I have a young family now) and expand my portfolio to give a serious income.
Any help/advice on this would be great.
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