Property investing in the UK

[True]

alright,

so I basically think I have enough cash to go to the bank (because im a poker player and don't have a job, although I have a bunch of direct debit outgoings that I have kept for a while and I have also been using this bank for almost 11 years) and ask for a small loan for a project to buy and renovate / develop a property.

Just wondering if anyone here has experience with this and would be willing to share some steps or ideas and advice.

I currently rent a house and had a couple ideas. The first one would be to finish the tenancy here and move into a house and work on that and then sell it off or remortgage and rent it out or even just stay living there and use the capital to work on a second project. The second would be to continue living here and take on a different project that I wouldn't be living in or have any limitations with (in terms of actually having to have most areas livable or at least sustain a certain habitability).

For those that have experience in the area, I live in a small area of the UK in a town which is quite busy.

House prices are generally between £120,000 and £300,000. I don't really know what other information to give.

I was originally told to find the property, hire a property developer / turn key manager, I would be happy to hear from people that have used these and for tips or information on finding them in smaller areas. I can understand that it may be hard to use a property developer in this area unless maybe checking out a local university to see if they offer the course and try and approach someone from there. I have friends or family members that may be interested in learning and I could also learn myself if it was required and do the first project(s) myself.

Thoughts?

[skegvegaspoker]

I would also love to hear people's opinions of this as I would be most interested in doing this myself in the future.

Thanks.

[True]

no-one? If you don't want to share the information publicly, would you like to IM me personally?

[john kane]

personally i see UK interest rates rising till mortgages become highly unattractive. this obv in turn lowers the house prices. additionally a global economic downturn will lead to drop in house prices.

tbh property in the UK was wise the past 10 years or so, now i'd recommend looking abroad for better property investments. berlin for example is supposed to rise in the coming years. look at areas for attractive areas of eastern europe where tourism should rise due to the increased ease of flying, for example easyjet should be increasing their flights to romania, and romania is supposed to have some attractive areas.

if i were to go into property as you want to, i'd go buy large houses in university towns, split them up into as many rooms as possible and rent out. the lowest level of rent, which students typically pay, will be hit the least in a property downturn, and demand is always high from students, especially if you buy them in the better locations.

anyways, this is all very based upon what ive read and from what ive discussed with friends.

gl.