Thinking of Buying a Second Property

[lysa Cork]

Hello,

Myself and my husband are wondering if it would be worth our while buying a second property off the plans and selling it on before it is completed. We want to have to pay a second mortgage so would like to sell it on before it is drawn down.

Can anyone tell me of their experience of buying a second property off plans and reselling it, is there a profit to be made after CGT and what are the pitfalls ?

Is there a better way to invest our bit of spare income ? All replies gladly welcomed ......

 

[Sarsfield]

I've no intention of crossing any lines laid down by the owner of the board so I'll just remind you than the value of an investment can go up or down. Research is your best protection.

http://www.askaboutmoney.com/showthread.php?t=31710

 

[Eurofan]

Bear in mind this is also a high risk strategy. You could stand to lose quite a lot relative to your 'bit of spare income' in the event prices are falling by the time you come to sell on.