Lux Investing

I want to start investing in property abroad I have a lot of equity in my house but not a very high income?

But I want to raise a lot of cash. any advice how to get the most I can possibly get. and are buy to let charged at a higher interest.

Public Comments

1. Investing in property for gain is a good idea. Do your home work & use a sharp pencil. Start small & don't get greedy. It isn't a good idea to invest in property that you can't be close enough to check out on a regular basis.
2. The most you can borrow depends on the rate you can pay it back ... Buy to Let Mortgages are higher rate (typically +1%) and also you have to put down a higher Deposit (typically 1/3rd) but most Mortgage Companies will take into account the expected Rental Income when deciding if you can afford it .. So - as you guessed, it best to maximise your existing (low rate) Mortage and minimise the (high rate) Buy to Let Mortgage... As a rough guide - you will pay £625 per month per £100,000 you borrow on the Buy to Let (so if you can Rent out at £1250 a month you can borrow £200,000 - and since you would have to put down approx 1/3rd Deposit this means you have to find £100,000 from your existingMortage in order to buy a £300,000 house ... and an extra £100,000 Interest Only on your existing Mortgage will cost you approx £560 a month on top of your existing payments) NB. If your existing Mortgage is standard Repayment type, moving it all to Intererst Only might mean you don't have to find much extra. NOTE - 'Interest Only' means you are ONLY paying Interest on the loan - at the end of the term you will be expected to pay back the entire loan at once -- so (for example) if you borrow £300,000 in total 'Interest Only', in 25 years (or when you retire) they will expect you to pay over the entire £300,000 in one go ... of course by then you hope the Rental house has doubled in value so you can sell it, pay off the £300,000 and still have a nice pile of cash to Retire on ...
3. Don't be fooled by the TV programmes and exhibitions telling you that you can make Loads-a-Money by investing in overseas property. Its a real Boom and Bust market. There are lots of crooked deals around - and a few - a very few - good ones. Don't believe the investment companies, go and check the properties for yourself. And double check everything before you commit any money.
4. I am assuming you are in the USA try www. kjonesrealestateinvestment .com that's who I use, fill out their submission form and they will call you back with multiple options! Good luck!
5. The Bulgarian property market is producing some fevered activity amongst European overseas property buyers. Examine the Bulgarian housing market and it's easy to see why this region is causing so much excitement. Low prices and rental opportunities that cover both summer and winter periods makes Bulgaria attractive for overseas property investment. I suggest you visit this site for more information and latest news : http://www.paradisemalta.com/bulgaria-property.htm
6. HI I have purchased two properties overseas through New Shores International Real Estate I found them to be very good. They do not give you any bull. http://www.newshores.co.uk