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  • Buy-to-Let

    Buy own home first before investing in BTL?

    Hey tribes, been thinking about this a long time.

    Would I be better buying my own home first , before investing in BTLs. I currently rent privately. My thought is to buy a house with cash and then use the money I save on rent to invest in BTLs .

    Any thoughts 

    Thanks James
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    Deffo buy own home first - maybe also take lodgers for a while too - so as to build cash reserves via the up to  £7500 Personal Allowance (Rent a Room Allowance).

    No CGT on own home either - though if buying in Midlands/North that may be academic.

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    Look into buying & renting to lodgers. A few people on here specialise in this & its what I'm advising my son
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    You can’t get a BTL mortgage without first having a mortgage. 

    Something to consider but personally I would set yourself up securely then move into BTL. It’s boring but it’s sensible.
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    Sorry I didn't read your post properly (3 baby hams last night) 

    Forget the mortgage bit but I would still set yourself up then move to investments.
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    You can’t get a BTL mortgage without first having a mortgage.

    Yes you can.
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    A man that admits he's wrong. Nice. Thats why I like this forum.

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    If you are the smartest man/woman in the room. You shouldn’t be in the room. You have nothing to learn.
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    My apologies for being blunt but if after thinking for a long time that's your only question I suggest you think a little longer.

    What do you want to achieve (Create wealth, supplement income, give up work, provide for retirement, provide for family, etc)?

    You state that you're able to buy for cash, which is a great advantage. Do you want to leverage?

    What is your attitude to risk? Do you want a relatively straightforward investment or would you consider something that requires a little more effort?

    As for buying your own home and taking lodgers, that's a good suggestion, it's what I do. However, it's not the only solution.

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    A good teacher must know the rules; a good pupil, the exceptions.

    Martin H. Fischer