I have inherited a shop and a flat. Flat needs significant work, ie new kitchen, bathroom however probably some slight reconfiguration as well. Bathroom is teeny, no bath just shower. Large bedroom, and large living dining area. Probably needs electrical work.
There will be aprox £8 grand cash too.
I can use the 8 grand to do some work to it. With the view to rent it out and rent shop out - shop is in better condition.
Combined the rent from both would be approx £1100 a month.
I could sell the whole thing again aprox £140 grand and buy a small terraced house and rent that out with no work doing but rent would only be £650 PM ....from same value place.
I could also sell and invest in the house I live in which is worth a lot more, add loft room, do kitchen and sell to get better house...and pay off small mortgage but I feel its possibly better to hang onto other property?
I have no income at the moment - sahm and no pension. Any ideas?