I currently own two properties
3 bedroom house just outside of London worth 350k with 60k mortgage (where my mum + sister lives) and a 2 bedroom apartment in the Midlands worth 150k with 110k mortgage (where I live)
I'm selling my house to my sister and relocating to the North West. We are looking for 450k house so will need around 150k mortgage.
However, I cannot decide what to do with the apartment.
My three options are -
1 - Sell the flat, take the equity and invest it
2 - convert it to BTL
3 - convert it to air bnb
Option 2 & 3 would be getting a managing company to sort it out as I'll be living 3 hours away.
Question is, what would you do in my situation and if anyone has done/doing option 2 or 3, is it doable? Would you recommend it?