The Property Podcast ASK462: How can I use £100k to get into refurbs? PLUS: Help, I've just been handed the management!
Feb 4, 2025
In this episode, the hosts tackle the exciting world of property investment. They guide a listener on how to navigate refurbishments with a £100,000 inheritance while discussing the pros and cons of interest-only mortgages. The conversation shifts to managing a new flat as ownership transitions from developers to residents. Practical advice flows on whether to collaborate with fellow owners or enlist a professional estate agent, emphasizing the importance of proactive management and communication within the community.
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Refurbishment Advice for Andrew
- Consider refurbishments due to Andrew's carpentry skills, giving him an edge.
- Find the right property, don't just refurbish for the sake of it, and be patient.
Avoiding Deal Bias and Being Patient
- Avoid deal bias: Don't make a deal work just because you found it.
- Be patient and wait for the right property; it's a long-term investment.
Mortgage Considerations for Andrew
- Interest-only mortgages are common for investors, leveraging debt.
- Andrew's single-property, retirement plan may suit a repayment mortgage.