11:18 AM, 1st February 2017, About 7 years ago 21
I’m here for some advice. As a family we are downsizing our house from £580,000 to around £300,000 and looking to invest the remaining sum in property to have some rental income.
I read a book about Buy to Let properties and it looks like a win win situation, you pay a small amount of interest to the bank and with the remaining rent income you can live quite comfortably while the equity continues to grow over the years. I am aware the property is not yours in the end, but you have gained money from rent and the equity.
Many people are advising against Buy to Let but can’t give me any solid reasons.
Can any of you advise me on the best thing to do with the remaining £280,000 It would be nice to have £3000-£4000 or more as a return every month