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boro_boy

£10,000 each month or £120,000 a year

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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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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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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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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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