ASK383: How should I invest £600k? PLUS: Should I wait to extend my lease?

The Property Podcast

Rob Bence & Rob Dix

Business News, News, Business, Education, Investing

4.8 • 2K Ratings

🗓️ 6 June 2023

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rob & Rob are back with more listener questions! (0:36) Hayley has recently received £600,000 from her divorce and she’s wondering what to do with it. Should she buy a residential property outright or use the money to invest in a buy-to-let? (3:26) John has a small portfolio of 1-bed leasehold flats in London, and he wants to know if there’s any benefit to renewing the leases early or should he wait until the new legislation comes in? Enjoy the show? Leave us a review on Apple Podcasts - it really helps others find us! Sign up for our free weekly newsletter, Property Pulse Send us your question by calling us on 013 808 00035 and leaving a message with your name and question (normal UK call rates apply) or click here to leave a recording via your computer instead. See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Hi, I'm Rob and I'm Rob and this is Ask Rob and Rob.
0:07.0	Hello everyone and welcome to Ask Rob and Rob, the show where you get your property questions
0:11.0	in and we give you our answers.
0:14.0	It's been a format that we've run for a long time now, but just as a quick reminder,
0:18.0	we'll let you know how you can get your question onto the show.
0:21.0	Yep, it works because it's easy.
0:23.0	Just give us a call on 013808035 or go to propertyhub.net slash ask.
0:28.0	Leave us a voicemail, just like Haley did.
0:31.0	Hi guys, I've only just found your podcast and I've got you to have missed your investing opportunity.
0:40.0	I will be an avid listener for now on.
0:43.0	My question to you is I've just recently got divorced and my settlement leaves me with £600,000.
0:56.0	I'm a low income earner and I can't get a mortgage.
1:00.0	My question is do I buy a property outright and keep a little bit of money back to say my living
1:11.0	until I can increase my earnings capacity or do I rent and use my lump sum capital to invest?
1:23.0	Hi Haley, thank you for your question.
1:26.0	Now, it could probably feel a little overwhelming to have a lot of money suddenly at your disposal,
1:32.0	which you haven't had before.
1:34.0	And you may be tempted to go out and take action and we often preach on the podcast about taking action.
1:40.0	But in this scenario, RFI's to you is caution.
1:43.0	Take it slow. Don't rush in to do anything.
1:46.0	So you have different options.
1:48.0	You can go and buy a property for cash and then at a future point, if your income increases,
	...

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