Friday, August 19, 2011
But finally, after twelve loooong weeks (from the day I put in the offer to completion), I've now purchased a little apartment that's going to be a cornerstone for my retirement, seeing as pensions are going to pot!
What is it? A new dinky one bedroom flat.
Where is it? Errr....Old Trafford, just over a mile from Manchester City Centre.
How did I pay for it? Funds from the sale of my house last year, plus small mortgage.
Do I know anything about being a landlord? Been doing bits of research, bought some books, did my yield calculations.
Is it a big risk? Yes, but hopefully a calculated one that will reap some rewards.Speculate to accumulate, etc!
Whilst I've been picking up bits and pieces, there's still lots of expenses to shell out for before it's ready to let out, starting with the damaged post box, caused I think by the previous owner/tenant due to a lost key! :-(
But anyway, it's getting sorted.
Don't feel as stressed now that completion has happened but I know there's more hard work to go!