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Property as an investment

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  • Property as an investment

    I don't have a pension at present, and at almost 34 years old, it's probably something I should look out for.

    However, I really don't see myself buying into a pension scheme - too much bad press about them.

    What I'm thinking at present is that if circumstances allow it, I'd seek to buy a few small properties, set them up to run on their rental income, and then sell them up when I'm looking for retirement capital to invest.

    Anyone else thinking along the same lines?

  • #2
    HI althought I do have a pension we too are looking into property as a means to give us some security later on. We are unsure wethher to go down the route of buy-to let which would give us a steady (all be it possibly small) income with a nice hefty return in 25 years or to consider a property development-both would be ideal-one for quick return and the other for sustainability. We are currently researching both but as usual financing will probably determine which avenue we eventually take!! Securing financing would be the hardest as we allready have a considerable mortgage also but once in place we have a property manager and building company (the father in laws-handy) to complete the graft. With development its about starting small, know your markets and the potential downsights and budget,budget budget!! lol I have my eye currently on a local property to me so the area is good there must be some major works needed owing to the price but I might go today for a quick shoofty around!! lol Good luck with your decisions and remeber you always have money if you have property!! he he

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    • #3
      Good points, and welcome to Property Watch, welshbird21.

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      • #4
        welshbird21 with regards to finance I'm sure you can be helped out.
        I have a good broker based in South Wales if you need some advice, just let me know.

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        • #5
          Hi,
          Hoping for some advise on this too. I have decided to cash in on my property in Wiltshire and I have just spent two weeks in west wales looking at the market there. I note that the prices are a lot cheaper, but can you get enough return on property development as a source of income? Also, does anyone have any hints tips on auctions in that area and is that the best way to get the best return?

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          • #6
            Hi Peridot and welcome to Property Watch.

            As for income - perhaps I'm wrong here, but in my opinion you could benefit from writing up a business plan at the different property markets you could get involved with.

            That way, you could at least get an idea of your costs - especially those little ones that can easily creep up on you - and put them into perspective with your overall profit aims.

            Hope that helps a little.

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            • #7
              flat development

              i have bought a cottage on the river of nairn it is a wreck but i am two minds wether to build one house or to develop 3 to 4 flats i dont know if there is a market for flats , also i am not a developer should i get planning for flats and sell the land on to a developer , all help welcome

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              • #8
                Hi nelson69, and welcome to Property Watch - and especially as I'm just across from you in Nairn, up on the new developments on the east of the town.

                As for building a house or flats - it may be worth talking to an estate agent for more info and onctacts on this issue - you could try Nairn Property Center on Nairn High Street, or MacCleod & MacCallum, for example.

                Anyway, hope that helps.

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                • #9
                  hey thanks for those tips...you do have great insights...

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                  • #10
                    Are the tax implications of selling one's rental properties the same sort of hit in the UK as they are in the States? Here you have to time things like that very carefully...

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                    • #11
                      The UK is very heavily taxed country, so you really need to be careful with everything. If you rent a property rather than buy, you've no real tax issues, but if you buy to let you'll almost certainly need an accountant conversant in UK/Scottish law to help.

                      2c.

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                      • #12
                        I have been doing some research on pensions at the moment and the outlook is NOT good. That is why I have invested in property. I am also from Wales .... it seems to be the place to be at the moment! Owners are taking offers down here at the moment so perhaps it would be a good place for you to start. You can still get a property for about £90000 here. If you want help just ask.

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