12:55 PM, 3rd February 2014, About 10 years ago 14
I have a portfolio of ‘vanilla’ BTL properties with 70% mortgages on interest only basis. I have have come to a point where my investment fund is dwindling and there is no more equity to release.
I’ve got two potential investors asking about armchair investment with me and I have two potential properties in mind. Both would involve purchasing with 70% BTL mortgages, refurbishing and re mortgaging or taking further advances to 70% LTV. The JV partners would get their money back at the end of a year or monthly at a very good rate.
I’d be interested in what others are offering though.
I’m looking for about £20k investment from each of them for each deal and have all the legals covered. My problem is that both deals mean that although they get THEIR money back with interest and the monthly cash-flow will be good for me, my money will still be left in. That effectively prevents my next purchase and meeting my goals.
Ideas welcome, also how much detail to give them.