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Showing results for tags 'dilemma'.
Hi Everyone, My name is Monica, I came across a free Workshop from Rich Dad, Poor Dad, where they talked about real estate investing and since then I've been really interested in this idea. I started to research on this topic, bought some books, listened to podcasts and videos, but there is still so much to learn ... I understand the concept of a property as a liability vs asset but i have this dilemma : I am a first time buyer, should buy to let be the best first step? I live with my partner and we are renting at the moment, we are both first time buyers so should we not take advantage of the benefits, for instance, not having stamp duty, etc... I also heard that mortgages for buy to let are limited to a first time buyer. So i do not know what to do first. It may be a personal choice, and i am sure there isn't a right or wrong answer, but i would appreciate to hear some ideas/ opinions from people experienced in the field. Thank you. Monica
Hi, I have a 1 bed BTL flat in North London N11, current market value of around £280k. I am thinking of doing a loft conversion to include an additional 2 bedrooms and bathroom. Cost of renovations should be in the region of £60k. 3 bed/2 baths in the same area have gone for £400k plus. I could then remortgage at 70% LTV releasing a further £90k to then re-invest. My dilemma is do I go ahead with the renovations now or use the £80k to purchase an additional BTL property. I'm keen to grow my portfolio particularly in HMO's and have been looking at other areas of England. Any advice appreciated, Thanks, Steven