Hi all, after many years of biding my time and building my savings I feel it's time for me to start in the property business.
I would really appreciate any responses from you experienced landlords out there as to my best way forward.
My situation is that I'm an IT contractor by trade currently out of work. I have at this point approximately 450k cash to get started (without borrowing).
My questions are:
1) Buy to let or buy outright to start with?
2) Flat's or house(s)?
3) Buy in my company name or personal?
4) Play it safe or try development? If so any suggestions?
5) Should I try to borrow and create a larger portfolio now?
6) Will I be able to borrow against properties down the line?
Any other thoughts and advice greatly appreciated
Thanks in advance.
P.s I am based in London.
I would really appreciate any responses from you experienced landlords out there as to my best way forward.
My situation is that I'm an IT contractor by trade currently out of work. I have at this point approximately 450k cash to get started (without borrowing).
My questions are:
1) Buy to let or buy outright to start with?
2) Flat's or house(s)?
3) Buy in my company name or personal?
4) Play it safe or try development? If so any suggestions?
5) Should I try to borrow and create a larger portfolio now?
6) Will I be able to borrow against properties down the line?
Any other thoughts and advice greatly appreciated
Thanks in advance.
P.s I am based in London.