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boro_boy

£10,000 each month or £120,000 a year

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Admin

If you were going to get £120,000 would you want it in a lump sum or given to your monthly for the year?

I would want it in a lump sun, i'd pay my mortgage off and any debt I have left!! Would sort me right our!

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Guest

Loose change to me...

I'd donate it to charity. 

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I would probably have it in monthly instalments, I would blow it all in one weekend if I got it in one lump sum

Edited by MrMacleod

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I'd take it monthly, 120k isn't a huge figure anyway, it's not like you could buy an amazing house. 

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Admin

You could pay your mortgage off though, that instantly makes your better off.

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1 hour ago, boro_boy said:

You could pay your mortgage off though, that instantly makes your better off.

I could pay a portion of my mortgage off, so yeah I suppose it makes sense. 

 

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Admin

Thats if you don't get charged, I think I can only pay £5,000 over payment each year with out any charges but if I go over, I get charged a percentage of whats left. So I could pay £5001 and be charged £3 or £4 grant interest so that would be pointless.

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Suppose if your sensible you would be able to buy a little house for say 30\40k, spend 20 doing it up, then sell it on for a decent profit then repeat the process, you won't need to touch the remaining money left over from the initial investment.

120 is more than enough for a start up to become a smalltime property developer then gradually build a profile.

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Admin

Yeah your right there, as the saying goes, you need money to make money!!

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5 hours ago, MrMacleod said:

Suppose if your sensible you would be able to buy a little house for say 30\40k, spend 20 doing it up, then sell it on for a decent profit then repeat the process, you won't need to touch the remaining money left over from the initial investment.

120 is more than enough for a start up to become a smalltime property developer then gradually build a profile.

 

 

You wouldn't get a shed for 30/40k near where I live. 

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I reckon you could get a 1 bed house, probably in bad shape for about 40k, if you spend a good 30/35k on it, new kitcen etc. Could possibly get around a 10/20k profit depending on how much you spend on doing it up!

Guess that's where all the favours get called in if you mnkw plumbers, electricians etc :)

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