ASK261: Should we remortgage our home to raise investment funds? PLUS: Is £20k enough to get started with?
The Property Podcast
Rob Bence & Rob Dix
4.8 • 2K Ratings
🗓️ 10 November 2020
⏱️ 9 minutes
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Summary
Transcript
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| 0:00.0 | Hi, I'm Rob, and I'm Rob, and this is Ask Rob and Rob. |
| 0:05.2 | Welcome to Ask Rob and Rob. |
| 0:08.9 | We're back to do it once again. |
| 0:10.8 | Jason, Dave, today is your lucky day. |
| 0:13.3 | Well, hopefully anyway, we're going to answer your questions at least. |
| 0:16.6 | Those questions coming up in just a sec and they're good ones as well. |
| 0:19.4 | But if those questions inspire you to send in a question of your own, here's how to do it. You can call in on |
| 0:24.0 | 013 808 O3.35 or you can go to our lovely shiny website Property Hub |
| 0:30.6 | dot net forward slash ask and record your question there. |
| 0:35.0 | That's what our first listener, all listeners, I should say, have done. |
| 0:39.3 | Our first question comes in from Jason and Stacy. |
| 0:41.8 | Hi Robin Rob, it's Jason and Stacy. Hi Robin Rob, it's Jason and Stacey here. |
| 0:45.0 | First of all, thank you for the content that you've provided online. |
| 0:49.0 | We found it to be very informative and also very honest as well, |
| 0:52.0 | so thanks for that. So just as a quick |
| 0:54.5 | background we're seriously considering setting up a limited company with the |
| 0:57.8 | long-term view to achieving around 20 by-to-let properties within six to 8 years using the professional that strategy. |
| 1:06.0 | We want each property to bring in a minimum of 200 pound profit once all the mortgage |
| 1:11.1 | management and insurance fees are deducted on an |
| 1:13.8 | interest only mortgage. So our position is that we currently have |
| 1:16.8 | 10,000 pound cash and our mortgaged home where we owe 72,000 |
| 1:20.9 | on the mortgage with the property being valued £120,000. |
... |
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