PENSION freedom is here – but what to do with it?
I’ve had a property company for 25 years. I’m now a seller.
I very recently sold an ex-council house at Horsley Hill to one of those ‘buy your house in 24 hours’ companies.
I got £45k for a three-bed house in need of total refurbishment, (I paid £20k in 1994).
The investment company has spent approx £5,000 doing it up.
An existing tenant of mine who needs a bigger place is taking it on.
The rent agreed is £130 a week - that’s £7,000 a year rent.
For a £50,000 investment that is a return of 14 per cent on your money.
So don’t dismiss ’buy to let’ as a pension option, it can provide an income and the bricks and mortar are still there when you have gone, your annuity isn’t.
But do research, and be wary.
Come to South Tyneside Landlords’ forum and learn from people who made all the mistakes before you,
We meet on the first Wednesday in every month at the Littlehaven Hotel, 7pm prompt, It’s free and informal, with no agenda.
Bring your questions, and local landlords with decades of experience can help you decide if it’s for you or not.
I can be contacted on email@example.com or 07715800239.
Don’t jump in and regret, do the homework first.