Calling all property investors

[GuildfordPaul]

NOTE: posted in Pie & Piston as well but though it may be worth posting here too...

Ok, I admit that I should sit down and do some serious sums, but i'm interested in what the general concensus is.

If you had a large sum of money, and wanted to invest it in property.... would you:

a). Put it towards paying off your own mortgage, and any future windfalls continue to do the same, or
b). Purchase another property and rent it out.

I guess the question is in general terms (if they exist), are you better off with 2 or more properties with larger mortgages, or one property with little or no mortgage??

Any feedback greatfully accepted.

[plasticpig]

I would buy a holiday cottage / apartment type property. The income is far better than most short term let's.

[Smirnoff]

I would use it for deposits and using mortgages build up a portfolio of properties using mortgages (but I am biased). OR I would start small scale property developement, buying doing up and selling. Depends on how muh time you can invest with the money. Need advice email me through profile.

Adrian

[GuildfordPaul]

Smirnoff said:

I would use it for deposits and using mortgages build up a portfolio of properties using mortgages (but I am biased). OR I would start small scale property developement, buying doing up and selling. Depends on how muh time you can invest with the money. Need advice email me through profile.

Adrian

Thanks Adrian, I know why you would recommend the mortgage route

If i do decide to go down that route I'll drop you a message, you can never get too many quotes!!

[GuildfordPaul]

plasticpig said:

I would buy a holiday cottage / apartment type property. The income is far better than most short term let's.

I'm just not into the holiday letting market, I think its pretty hit and miss and you'd really have to know the area to make good investment decisions.

May be for some, but not for me.

[ysnnim]

Holiday letting has come on a little. Not uncommon now to get guaranteed rental value for the house (obviously depends where it is, condition, facilities etc...)

[paoloh]

Smirnoff said:

I would use it for deposits and using mortgages build up a portfolio of properties using mortgages (but I am biased). OR I would start small scale property developement, buying doing up and selling. Depends on how muh time you can invest with the money. Need advice email me through profile.

Adrian

I would agree totally, re mortgaged my main house last year and am just about to purchase our 6th property.