Expanding my BTL portfolio – thoughts please?Make Text Bigger
I am currently living and renting in Cambridge.
I have a flat in Scotland with no mortgage valued at around £65k, rental is £480 pcm and I have £50k of savings.
I cannot afford to buy a place in Cambridge as my income is only £21k from my job, so I was thinking to get a buy to let mortgage on my flat, raise around £50k and then purchase a few more buy to let flats, possibly in Scotland, and I can use the same letting agency.
I would like some advice if this is the best way to do this and if there are any other ways?
I would ideally like to use my cash to make myself more comfortable in retirement, I am 35 at the moment.
Any advise would be grateful
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