rent or sell

[bonez]

I am new to the property market with just a 150k, i bought and sold my home in the US to move here 5 years ago now i want to invest in property development. Developing to let was my first idea but then i recieved advice from a friend (not in the property business) that i should buy, restore and sell right now and consider letting in the future when my portfolio becomes stronger. Please is there anyone who can give some advice in regards to this issue your guidance is appreciated.

Thanks
Bonez :)

[MrShed]

To be honest it depends on a few factors. Are you doing this as a sideline or your main source of income? How much time can you put into it? Are you looking at short term or long term?

IMO, property development then selling is the better option if you are after a major source of income, with a lot of time to devote to the projects, in short term. Letting is not so much a source of income as a long term investment, with nowhere near as much time needed to dedicate to it, and is also a lot less risky.

If I had 150k, and if you can put the time in, my personal opinion is develop and re-sell within a matter of months.

[bonez]

Hi MrShed,
I truly appreciate the time you took to offer your advice, i do have the intention to devote most of my time to property development and making it my main source of income, however i would like to see how my first uk venture pans out first, if it all goes in a positive direction i will be able to leave my job and be self employed in the property development business, again i want to say thanks for your advice.

Bonez

[MrShed]

You are welcome....just bear in mind when/if taking my advice, I have no experience in the area personally, just researched into the possibility of going into property development myself. Someone with more actual experience would be able to tell you more and advise you better, but the above points I would think are fairly standard. Good luck.