13:47 PM, 10th February 2015, About 7 years ago 6
I’m new to the site and fairly new to property investment and with a wealth of knowledge and information on this excellent site I am looking for a bit of advice.
I have two properties (one that I live in and one on BTL) but I’m looking to purchase another within the next 24 months.
My plan is to move out of my current property once I have saved enough funds for a deposit, let it out and move into the new one. I’m just wondering if anybody has any better ideas about what to do or which direction is best to go into.
Property A is worth £82,000 with a £78,000 mortgage and rents at £450 PCM (bit of a turkey)!
Property B is worth around £118,000 with a mortgage of around £98,000 and would rent at around £550 PCM.
My personal finances are pretty good and I’m pretty confident of reaching my goal of £10,000 within the next 24 months to use as a deposit to purchase a further property.
Any advice would be greatly appreciated:-)
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.
Advice and implementation provided by a practising Barrister-At-Law with £10,000,000 of Professional Indemnity InsuranceBook Now
|“Account”||means an account required to access and/or use certain areas and features of Our Site;|
|“Cookie”||means a small text file placed on your computer or device by Our Site when you visit certain parts of Our Site and/or when you use certain features of Our Site. Details of the Cookies used by Our Site are set out in section 13, below;|
|“Cookie Law”||means the relevant parts of the Privacy and Electronic Communications (EC Directive) Regulations 2003;|
|“personal data”||means any and all data that relates to an identifiable person who can be directly or indirectly identified from that data. In this case, it means personal data that you give to Us via Our Site. This definition shall, where applicable, incorporate the definitions provided in the EU Regulation 2016/679 – the General Data Protection Regulation (“GDPR”); and|
|“We/Us/Our”||Means Property118 Ltd , a limited company registered in England under company number 10295964, whose registered address is 1st Floor, Woburn House, 84 St Benedicts Street, Norwich, NR2 4AB.|
|Name of Cookie||Purpose||Strictly Necessary|
|JSESSIONID||Used only to collect performance data, with any identifiable data obfuscated||No|
|__cfduid||This cookie is strictly necessary for Cloudflare's security features and cannot be turned off.||Yes|
|Name of Cookie||First / Third Party||Provider||Purpose|
|__utma, __utmb, __utmc, __utmt, __utmz||First||Helps to understand how their visitors engage with our website|
|_fbp||First||Helps to understand how their visitors engage with our website|