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  • Property-a-holics

    Best tip ever to boost BTL income?

    Just wondering if you had to give one tip about how to boost your income from BTL, what would it be?

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    To my mind, income isn't the issue, it's profit. Therefore, my top tip would be to reduce your mortgage payments.

    Cheers,

    Lou

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    Thanks Lou, what do you mean? Overpay? Remortgage? Borrow less?

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    Depends how much a % of your rental income the mortgage payment is though?

    If your rental income was £6k and mortgage was £1k and on good rates, why would you pay down?
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    Take in a lodger into your own home and benefit from £7.5K tax free allowance under the Rent-A-Room scheme.

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    Limited outlay, good return & tax efficient. Nice!

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    Regular inspections so you spot things early and don't them spiral out of control.

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    Risk management, maintains cash-flow and increases profit. Good shout!

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    Good point Adam. Be professional and stay on top of your game.
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    My tip - cash out equity in a couple of properties and invest in an asset class that produces a better income!
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