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First time landlord advice
Comments
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nop experience but cant be hard.
What would you invest your 20K in then...?0 -
Actually I've just bought a new car with my £20k ...I'll have it longer than you have your BTL I expectin S 38 T 2 F 50
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2017-32 2018 -33 2019 -21 2020 -5 2021 -4 20220 -
Moneygrabber89 wrote: »nop experience but cant be hard.
I suggest you read more of these forums before continuing if that is your attitude. Horror stories from both landlords and tenants all over the place.
Particularly read GMs sticky post: https://forums.moneysavingexpert.com/discussion/5180214/tenancies-in-eng-wales-guides-for-landlords-and-tenants0 -
i think you are taking the mick to be honest.
theres a man in our village who had a similar wage to me and now drives round in lambo. He rents out 13 properties in the village.0 -
As others have suggested, do A LOT of reading and research before making any decisions.
If after that you still want to proceed, that's your choice.How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)0 -
Moneygrabber89 wrote: »i think you are taking the mick to be honest.
Likewise....in S 38 T 2 F 50
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Invest your £20K in S&S ISA.
Spread it around a bit ('diversify'). Some could go into a property Unit /Investment Trust if property interests you.
No hassle; No responsibility; easy access if you need the money later; no tax liability.0 -
Moneygrabber89 wrote: »i think you are taking the mick to be honest.
theres a man in our village who had a similar wage to me and now drives round in lambo. He rents out 13 properties in the village.
He was probably lucky to get in at the right time - borrowing money up to his eyeballs with 100% mortgages; an era of massively increasing house prices and rents; a much more generous tax regime.
People who it that wrong have ended up bankrupt - there were many.
You've simply missed the boat I'm afraid.
House prices are not rising as they used to and the tax regime is much worse for landlords than it used to be.0
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