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buy one or two properties?
chrishar
Posts: 178 Forumite
I have saved up 100k and need somewhere to live. My original plan was just buy somewhere up to 200k and have no more than a 50% mortgage.
However a friend suggested with so much equity why not buy two places with 25% deposit on each, live in one and rent out the other. That would give me an extra income and more capital appreciation, they said.
So I would like to ask your thoughts on this, whether it's a good idea?
However a friend suggested with so much equity why not buy two places with 25% deposit on each, live in one and rent out the other. That would give me an extra income and more capital appreciation, they said.
So I would like to ask your thoughts on this, whether it's a good idea?
0
Comments
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Do you want to be a landlord and all that entails? It isn't an easy income and it isn't guaranteed. If you can't find tenants could you afford 2 mortgages?0
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Buy at auction and have no mortgage.I do Contracts, all day every day.0
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If you are considering becoming a BTL landlord, I'd encourage you to do your research and have a good, thorough read of this comprehensive post.0
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Landlords of one rental property normally aren't rich...or at least for the rare few ones with morals... the ones who actually want to have a safe, warm and comfortable home to rent rather than a condemned rental.
If I was in your position, I would definitely prefer to buy a house out-right.0
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