I would look at student letting, buy a couple of £150k houses with £50k deposit. £1k a month income per house [based on Sheffield student property market]. You could end up with a good few hundred quid a month out of it after your little contingency fund and a bit of insurance. Long term your equity will grow and grow. In 5 years repeat the process, buy another 2 etc etc.

It is a fantastic position to be in, don't waste it!!!

Alternatively in five years your equity has been wiped out (gearing works both ways),and the students have trashed the joint.

Or you could look at it positively: you'll still own the assets, you can claim back all the repairs costs against tax and you'll still be receiving an income from them.

Edited by V8mate on Monday 23 March 16:56

How do you own the assets if you haven't paid off the mortgage(s)? Will the income cover financing and repairs - maybe students are better behaved these days??

M3RMS

1,135 posts

214 months

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Monday 23rd March 2009

For the love of God, this is Pistonheads!

997 Turbo. Blow it.

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