New boy..starting from scratch

You are here : Member Forums Property Investment New boy..starting from scratch
This topic has been locked as no posts have been made within the last 90 days.
C
Chris M_376
16 Posts
0 Thanks
Hello world,
I am new here and no doubt will have lots to ask as I start the learning curve.. heres a little background..

I have recently inherited some money and property. My home area is S.E.London/N.W.Kent.
The property I came into is a shop with studio flat above which has established tenants and pretty much ticks along on its own fetching in 800 a month ( split between myself and brother )

I have 150k to spend on a flat, probably in Erith or abbey wood.
What I had in mind was to get a decent modern one or two bed flat which can be let for a few years and later be available when my daughter reaches an age where she wants to join the property ladder.

A few people have already told me I should use the money to put a deposit on two or three flats and let the tenants pay off the mortgage. I know it sounds sensible, but I am nearly 60 and dont fancy the hassle. Am I wrong??

Are there any members out there in my part of the world who would not mind me picking their brains. I have been checking local prices and Erith seems cheaper than Abbey wood and I think recent moderniation could make Erith more attractive in the future...again, any opinions and comments are most welcome.

I will be back !!!

Chris M

13/09/2007 00:00

Want to read more?

This is a members only forum, if you want to read more you need to login to your membership, if you are not a member, click here to join.

This topic has been locked as no posts have been made within the last 90 days.
Ideal Flatmate
Elfin Kitchens
Landlord Broadband
John Pye Auctions

Share this page