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Hi everyone,

 

I am currently trying to develop my strategy to begin my property investment future.

 

I currently live in a 2 bedroom council house based in North London. The market value of the house is approx £590k. I am currently eligible for a discount of up to £106k under the right to buy legislation. 

 

I'm wondering what would be the best first move in the property game.. As I am a council tenant, I'm not sure how the process works when it comes to me getting on the property ladder. is it best to register as a limited company and begin building a portfolio like that? Or should I look into utilising this right to buy opportunity discount of £106k and invest in my own house? The only issue is I wouldn't be able to get a mortgage on the remaining £490k ish that would be left to raise, also there are particular rules about who can actually put the money up for the property if i was to buy. Technically if i was to do it as a JV with someone else they couldn't actually be on the tenancy as this is against the tenancy agreement.

 

Anyone here with Right To Buy knowledge and/or general advice on how best to make my first play?

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