12:10 PM, 28th October 2015, About 6 years ago 8
I wonder if anyone can share some advice on what type of property to invest in. I’ve been looking at investing in two one-bedroom flats by putting a 25-30% deposit down on both. The other option is to put one, bigger deposit down on a three bedroom family home. The ROI seems to be better for the family home.
My plan was to try and find two flats that were slightly below market value in the hopes of remortgaging them again in 6 months time (or there abouts) to get two more flats and build up my portfolio. I’m not sure whether this plan is suited to a 3 bed family home though, as the ones that rent out for the most, giving the highest ROI, are in a very good condition and therefore perhaps it would be more difficult to find a family home below market value and so it may be less likely to go up in value and be remortgage-able as early as two flats would. This might then hinder the speed with which I can grow a portfolio.
Also perhaps getting one family home, rather than two flats is more risky as there will be fewer properties to spread the risk across. Is it also easier to rent out one bed flats than family homes?
I’d prefer to have one property that had an overall higher ROI but I also don’t want to make it more difficult for me to build a portfolio and more difficult to find tenants.
I’d be very grateful to hear anyone’s experience and advice.
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