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Invest in a flat or not?
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There are investments other than property. A £350 pcm gross return on a £70,000 investment works out at a 6% gross yield. You could easily beat that with P2P lending which would also allow you to spread the risk. That's just one way to invest your money, there are others.0
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Could you move to an area where house prices and rents are lower, if your job isn't specialist and required to be in a specific location ?
The same type of job, in a cheaper area, means more disposable income for you.0 -
There are investments other than property. A £350 pcm gross return on a £70,000 investment works out at a 6% gross yield. You could easily beat that with P2P lending which would also allow you to spread the risk. That's just one way to invest your money, there are others.
all of which are likely to be even more risky.
It wouldn't be my choice for all my eggs but P2P has to be least worst if you really must get 6%
tim0 -
More risky than a Liverpudlian student pod?0
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You could also ask in Savings and Investment.
As others have said you're not going to get a reliable 6% income from anything. Maybe you'll find a flat that you can rent out so you get 6% a year but any expenses eat into that quickly. A couple of months rental void, a new boiler install and some misc admin/maintenance expenses and most of a year's rental will be gone (which would be a bad year, but also perfectly plausiable and also not the worst possible year by a long shot).
Do you actually need the income? Or are you seeking to save? If the latter yielding 6% long-term is perfectly possible, but this does mean long-term (5 years at least, more than 10 better) and not taking out any money as income.0 -
Since you can't get a mortgage of your own, you only have the option to buy with cash.
70k won't buy anything good in South East but you can get a 3-bed house in the North/East fetching you £400-£500 in rent.
You need someone (agent/friend) who can manage the property though if you buy miles away from your own place.Happiness is buying an item and then not checking its price after a month to discover it was reduced further.0
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