I am new to property investing and looking for some general advice early on in my property journey. My sister and I have £1 million in cash to invest and would most likely look to do this through using a limited company as a SPV. We both have limited time available to dedicate to property investing - I work long hours in a full time job and my sister is looking to set up her own non-property business.
Ultimate personal goal:
Ensure financial freedom, so I have enough passive rental income to quit my day job and and set up my own (non-property) business.
Diverse portfolio to minimise risk - aiming for a mixture of capital growth and rental income properties.
Initially invest in professional lets with no renovation required due to minimal free time.
Eventually want the option of expanding to HMO & holiday rentals when (hopefully) we have more time to dedicate to our property portfolio/business.
We are first time buyers who live in Yorkshire and therefore would like to invest locally where possible, with an example portfolio shown below.
Total mortgage value
Total cash deposit
Long term capital growth
Our eventual goal is to achieve a net rental income of £10,000 pcm.
Obviously we are very early on with regards to developing our strategy. In the next 6 months the aim is to purchase our first 2 BTL properties in/around Leeds.
We aim to refine the specifics over the next few months and i'm sure our strategy will evolve to include more 'exciting' investments (HMOs etc) as we gain experience.
I was wondering whether:
1) The general feel of this portfolio makes sense to more experienced investors out there?
2) Are we being too ambitious or too cautious?
3) What are the major strategy decisions we should make now before starting our journey
Any feedback would be greatly appreciated.