Tips please on ways to make BIG money.

shelovestobuystuff

Okay,I have had it with thinking small as far as earing extra money goes.No more penny a click or 10p polls for me.Now I am looking to the future.Time to throw caution to the wind and really up the stakes.
Money isnt everything I know but I want to buy back my family home which is back on the market,my great grandparents owned it but my grandparents moved out of the countryside and into the town after the war so it was sold off.
My mum never stops talking about the place and I have decided to make it my goal to get it back into the family so she can spend her retirement years in it.
Its on at offers over £595,000.
We have £150,000 equity in our own house so that would be the down payment.Lets say in the current climate I get £50,000 knocked off the price(the current owners got it for £120,000 less than the asking price just 7 months ago).
We can get another £150,000 mortgage,so that takes the total to £350,000.Still £245,000 to find.
The property currently operates as a stables and riding school so if we continue that the turnover could be counted as income I think towards a bigger mortgage.
I need more ideas.Anyone have experience of using their property to generate an income and know how it works with getting the initial mortgage.

shelovestobuystuff

Revised question is how to make your property pay for itself.I am popping over to the mortgage thread to ask.
The house has 4.5 acres,stables,undeveloped out buildings so plenty of earning opportunity.It is also of architectural significance so I could open it as a venue for wedding receptions etc.

Zoe__2

I just wanted to say good luck with this! If you think you can do it, then you can.

Keep us posted,

Zoe
Flexible Working Life .com

lucielle

Hi
Have you thought about doing riding holidays? The insurance would need to be checked over and if you were having children to stay you would need to be CRB checked. Also, think about approaching the caravan club to let fields for their use. There is liveries and holding events jumping, cross country, dressage etc. Hope this helps.

V_Chic_Chick

Perhaps you could convert the outbuildings into artists studios or something along those lines? Places for people to stay whilst on residential courses at riding stables?

But do you actually know anything about the horse business? If not then you are going to need to learn fast and / or employ someone who knows about this sort of thing. And does the sale price include the horses / tack / equiptment / business in general? Are they moving everything to a different location?

Re the caravan pitches, I know that £240 / year / small caravan for a pitch (with access to showers and toilets) is considered extremely cheap (I don't know what the going rate is, I just know that there is someone who is willing to pay £295 a year membership to an unrelated club purely so that he can park his caravan there. The rates at said club are £7 / day or £40 / week (or £240 / year). However, you would need to provide washing facilities etc.