Since I’ve decided I love this job and will do it for as long a possible (preferably 10 years max), I’ve also been thinking about what to get out of it when my sell-buy-date ends. I am only 24 this year, and began to make a steady amount of money in specific clubs.
Now one of the most obvious choices is buy my sis council flat. I have been temporally living with her for the most part of a year, and am a registered tenant here. Only she wants’ to move out now cause she is pregnant and needs an extra room. (She already has a two year old.)
It’s a two bedroom flat in a good residential road. The flat itself is good, and 70% percent of the houses in this road is privately owned. The area is not the best, but it’s bad either. Travel wise its good too. On a whole I like the place. It’s got pretty good potential.
I got this idea because i been wanting to do the flat up, but i want it to be decorated to a veryr goo standard. I mean gut the bathroom and kitchen and put in whole new ones. I want to the flooring to a high standard and put in new doors-things like that...and more...but the thing is, it’s just a council flat and my sister does not want to stay in it forever...which means..i do it up and it’s all lost money if she moves on. I do like the flat and i will do it up...but i want to do it up good...so i thought maybe I could invest in it and then...hopefully try to buy it.
So I’ve been looking at the right-to-buy offer the council gives...and it seems that it’ll be much cheaper to buy from them and possibly a lil easier too, in comparison to going into the housing market. Buying a Flat in Five years.
It requires a tenant to live in the property for 5 years; I can convince my sister to do this, and after this ‘she’ can apply to buy the flat. She can go in partnership with family, which is ‘me’ for as long as said family member lives with her for at least 12 months. So it’s possible and I’ll like to own a flat as quickly as i could and 5 years is nothing and it gives time to save a Easter egg for it. A goal to aim for...
I do also plan to buy land in Brazil or flats and sell or rent them out...sort of be a part time property developer in brazil as the money i make here will take me further in how much i can afford to get. This is obviously my long term plan which will need some work. But i do want to live in London and it’ll be nice if possible to own something here first. My original plan was own things in brazil and then that’ll pay for my venture’s here.
The point i’m trying to get here is...does this sound like a good idea? And if so i would like to know if any of you have done this (bought a house, overseas and otherwise) and how you went about it financially and such.
I have no idea how mortgages work and i will look into it in detail and loans too. If possible I’ll borrow a lump sum from a friend because I’m terrified of banks. So any info and advice you can give would be greatly appreciated.
Also how can i get people to trust me and my income when my profession is a stripper (self-employed.) this is likely to cause some issues...is there a fool proof way of working on this now so when my five years are up I can present myself as solid. Whatever i do...this is something I’d like to know.
I have other plans for my future, but these are not financially...more educational.



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