Property Investing Advice

slinkydonkey

I don't know if here is the right place to ask but anyway.

I own a property  in Reading and have a large equity in it.  I  have currently rented out my house and the fixed term mortgage is due to expire soon. 

Currently I am renting and living in London (where I can earn more).

I have watched a few videos on YouTube from Jamie York, I am also going to "The complete Guide to property Investment" by Rob Dix & "Essential Property Investment Calculations: The numbers led approach to property investment and property management " by  Robert Heaton.

It's not something I am 100% going to do but just want to educate my self as perhaps it is something I may consider doing in the future. Does anyone have any advice?

MX5huggy

You haven’t really said what your considering doing? 

Then I’m not clear do own one or 2 properties? One is let the other is not? 

Has your reading covered Capital Gains Tax? It’s very hard to avoid with residential property where as with ISA’s and pensions it is easy. 

Albermarle

Most of the regular posters on this board are not involved in property investment/development , although a few have BTL's.

The favoured way of investing is via investments funds, stock market, pensions etc . You may be better off on this board 
House Buying, Renting & Selling — MoneySavingExpert Forum
Although as said above you should make your post/question a bit clearer.

jimjames

There seem to be a plethora of "experts" advertising their property seminars on Facebook and elsewhere at the moment. It makes me wonder if it was such a fab thing to invest in then surely you'd make your money on that rather than by telling everyone else about it.
My advice would be very, very cautious about paying for that "training" as ultimately that's what those seminars are selling. I suspect they will suggest taking equity from your property to buy others and to fund your property education. It's not such a no brainer as they claim especially when prices are high as we're heading into a high inflation period with restricted incomes. Prices can go down and the market can change very quickly.

Albermarle

jimjames said:

There seem to be a plethora of "experts" advertising their property seminars on Facebook and elsewhere at the moment. It makes me wonder if it was such a fab thing to invest in then surely you'd make your money on that rather than by telling everyone else about it.
My advice would be very, very cautious about paying for that "training" as ultimately that's what those seminars are selling. I suspect they will suggest taking equity from your property to buy others and to fund your property education. It's not such a no brainer as they claim especially when prices are high as we're heading into a high inflation period with restricted incomes. Prices can go down and the market can change very quickly.

A Family friend spent £11K on such training after a couple of introductory sessions. We did what we could to persuade her not to, but she was completely convinced that it was the way to future prosperity. Inevitably she never made a penny , despite lots of work , scouring the internet for properties etc .

bostonerimus

It sounds like you are already investing in property if you are renting out a house that you own. I would concentrate on that and make sure the numbers work well. When the mortgage is paid off it will provide you with a nice source of income. I would use a BTL/rental property to compliment the usual pension and ISA investments to give you a diverse portfolio. You should not ignore regular investments with all their tax advantages.

I looked at one of Jaimie York's videos and they are about "flipping" and property development. I would avoid all that unless you have considerable experience in the building trades. Don't let property dominate your portfolio because it locks up your capital and if you have a lot of mortgage debt you might be very sensitive to interest rates. 

I have used BTL as a part of my portfolio, but I own just one rental and I have no mortgage on that rental or on my own home. The rental income from that one flat covers half of my retirement income and the capital invested in the rental is less than 10% of my net worth. Don't put "all your eggs in one basket".

canaldumidi

slinkydonkey said:

....

I own a property  in Reading and have a large equity in it.  I  have currently rented out my house....

It's not something I am 100% going to do ...

Makes no sense. It seems you are already doing it !

As for these paid-for training sessions, the only ones I'd recommend are those run by proper LandLord Associations (RLA and NLA have merged) on tenancy law and the like.

But I presume you are already familiar with tenancy law....

Have you been over to the property board here? Lots of landlords there (as well as tenants).

As this is a savings and investment board, have you considered putting money into property via stocks and shares ISAs?