To get into property investment?
alwayslearningsomethingnew · 12/04/2021 16:01
I'm thinking of buying a holiday caravan to rent out. Also considering buying a small one bed home to rent... can't do both to start with. My goal is to grow wealth over time but as I've just started looking into this I'd love the insight of mumsnetters who've been there and done it and some advice on whether it's worth it and what to look out for. What to read etc.
I can't get a buy to let right mortgage now as I don't already have a mortgage but I do have the means to purchase a small property (like a caravan) with credit or outright, I've heard that credit is a good way to do it so long as you're making a profit on it each month, although I haven't read enough yet to figure out in my head how it's better to buy on credit. New to the idea but I really like the sound of it as a way to build a property portfolio over time... help please
LostInTime · 12/04/2021 16:11
Caravans usually have restrictions on the months they can open. A small flat in a residential area is probably a better idea.
Or forget the property thing entirely- individual landlords have been taxed out of the business now- and look at S&S ISA, and investment trusts instead. They're long term (minimum five years) but far less stress and hassle than managing a property.
To comment on this thread you need to create a Mumsnet account.