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  • Buy-to-Let

    Best way to invest £60K in property?

    Hello all. First time posting so appreciate any replies. I have recently sold a 2 bed single let after renting property for majority of last 8 years.

    My question is If you had £60k what / where would you be looking to invest in ? 

    I'm Midlands based but not restricted to any area. 

    Thanks again
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    I would buy a couple of single lets in the north.. :-)

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    ManInTheMoon

    Stick to the old pit towns if you want to buy low.  Remember the area quite often determines the tenant.  I am in the north and in my home town a 2 bed terrace starts at around £165k and my actual village around  £180.  I buy in a very small town half an hour away where a 2 bed terrace starts at £180k or a new build £200.
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    Hi imiS sorry for the delay, still trying to navigate Property Tribes and see my posts or replies.

    I see a Gross yield of 5% which some may not see as brilliant but I think it's steady away, I consider area and tenant very important to avoid too many waves although everyone is full of surprises and no more than in the BTL game.

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    I think it would depend on your investment goals as well as various other factors such as your appetite for borrowing.

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    Thanks for replies really appreciate it. Im looking to buy and hold. Ideally want to reach a goal of 4 properties over next 2 years. Happy to borrow the banks money without maxing out or leaving me short for any potential deals I may come across. When you say 'North' is there any particular town / city ? Thanks
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    Hi

    Definitely look North but don't stop at Hadrian's Wall!

    Ed

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    LETS MAKE HOMES by treating landlords as partners, tenants as customers & every property as our own."

    http://www.letsmakehomes.co.uk

    Hi Christoperrae,

    Congratulations on your sale, it all depends on what you are after. Do you want a few properties? And spilt the £60k across into smaller deposits or do you want to buy one? House/flat/HMO etc. But in regard to location I’d look locally first, I believe any area is the best area to invest in. If a property is right for your needs then it is a good investment, regardless the location.

    What is it you are wanting to do?

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    Treat yourself/family to a nice holiday. Stay out of the market for now as its going one way and that's down. Why you have just sold and want to go in again near the top of the market with all the negative economics against you. Relax plenty of opportunities further down the road.

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