So many properties so much income gambling addict

Mrmystical19

I will recieve these properties and i don't know what to do.

Property 1
6 Bedroom House, 30ft kitchen, dining room, living room, 3 bathroom, utility room. 100ft garden with outbuilding.

House value- £820,000 with area redevelopment may increase. Rent value £2500 to £3000 a month. Location London

Property 2
3 bedroom, loft not converted, 2 bathroom, 50ft garden, 35ft living room.

House value £500,000. Rent value £2000 a month. Location London

Property 3
2 bed room, 1 bathroom, living room and garden 30ft. In prime location in main london it value £400000 to 450000. Rent around £1500 a month as famiily friend lives here. Can achieve £2400 easily.

Property 4

Bungalow
500pound a month 1bedroom living room and kitchen area

Property 5

Overseas

120000 value rent 300pound a month

Property 6 overseas

80000 no rent locked up

Property 7

America

House value £100,000 no rent as not put on rental market.

I will achieve a rental figure of £80,000 a year before tax. If i sell around £2million. I am also working earn in region of £25000. I would achieve around 105,000 a year before tax.

I have a gambling problem. How can i invest this money without wasting it on gambling. Thanks.

Bossypants

Good for you for acknowledging your problem and thinking ahead to try to protect yourself. In your shoes, I would invest in an appointment with a good financial adviser. Even without considering your gambling problem, there's a lot going on there and you will want to to make sure you are getting the most out of your windfall.

babyblade41

Not sure how you will be acquiring these properties but if it's an inheritance as IHT been paid yet?

Is there a management company to look after the tenants as that is quite a big portfolio to look after.?

HampshireH

I can't put my finger on why this original post sounds vaguely familiar excluding the gambling bit.

davidmcn

HampshireH wrote: »

I can't put my finger on why this original post sounds vaguely familiar excluding the gambling bit.

Yes, I'm pretty sure it's the same fantasist as before.

hazyjo

HampshireH wrote: »

I can't put my finger on why this original post sounds vaguely familiar excluding the gambling bit.

Yup, thought exactly the same thing. Rich father gifting properties or something, and it was definitely flagged on that post as being a fake one resembling an even older one. Will go hunt it down to see if similar... Sorry if not, OP! But defo thought the same.

stator

The answer is simple, put it into a trust you don't have control of.

AdrianC

stator wrote: »

The answer is simple, put it into a trust you don't have control of.

Ah, but he's already tried that...


https://forums.moneysavingexpert.com/discussion/5867298/stuck-my-parents-have-3-houses-for-me-in-a-trust-i-cant-get-first-time-buyer-discount

...and that thread flagged up strong similarities with...
https://forums.moneysavingexpert.com/discussion/5757837/3-houses-worth-in-total-nearly-2-million-sell-or-rent


Looks like we've come full circle.

HampshireH

So glad it wasnt just me

SG27

Mrmystical19 wrote: »

I will recieve these properties and i don't know what to do.

Property 1
6 Bedroom House, 30ft kitchen, dining room, living room, 3 bathroom, utility room. 100ft garden with outbuilding.

House value- £820,000 with area redevelopment may increase. Rent value £2500 to £3000 a month. Location London

Property 2
3 bedroom, loft not converted, 2 bathroom, 50ft garden, 35ft living room.

House value £500,000. Rent value £2000 a month. Location London

Property 3
2 bed room, 1 bathroom, living room and garden 30ft. In prime location in main london it value £400000 to 450000. Rent around £1500 a month as famiily friend lives here. Can achieve £2400 easily.

Property 4

Bungalow
500pound a month 1bedroom living room and kitchen area

Property 5

Overseas

120000 value rent 300pound a month

Property 6 overseas

80000 no rent locked up

Property 7

America

House value £100,000 no rent as not put on rental market.

I will achieve a rental figure of £80,000 a year before tax. If i sell around £2million. I am also working earn in region of £25000. I would achieve around 105,000 a year before tax.

I have a gambling problem. How can i invest this money without wasting it on gambling. Thanks.

Give them to me?

macman

This would be the ultimate 'first world problem'...if it wasn't fantasy