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Buying a 2nd property to develop?
Leftynick
Posts: 86 Forumite
Hi,
Could anyone give any advice on whether the above is a wise thing to do in the current climate? Just something we have been thinking about but dont really know enough to do anything about it. Inparticular we'd be keen for any advice on:
* How to go about getting the money when you already have 1 mortgage - is re-mortgaging the only option?
* Any tips on good lenders etc
* Any pitfalls to avoid
We would be looking to buy a small run down property to do up ourselves and sell on for a modest profit initially.
Any advise would be much appreciated.
Thanks
Leftynick
Could anyone give any advice on whether the above is a wise thing to do in the current climate? Just something we have been thinking about but dont really know enough to do anything about it. Inparticular we'd be keen for any advice on:
* How to go about getting the money when you already have 1 mortgage - is re-mortgaging the only option?
* Any tips on good lenders etc
* Any pitfalls to avoid
We would be looking to buy a small run down property to do up ourselves and sell on for a modest profit initially.
Any advise would be much appreciated.
Thanks
Leftynick
0
Comments
-
it might be an idea to joint venture with someone on your
first project."enough is a feast"...old Buddist proverb0
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