- June 7, 2024
- Posted by: legaleseblogger
- Category: Related News
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# Property Portfolio Expansion Plan
## Current Property Portfolio Status
The first property is valued at 450k GBP, while the second property is valued at 160k GBP. Both properties are fully paid off and located in Newcastle, where my family is based.
## Working Abroad and Freelance Income
I live abroad due to work commitments in the Philippines, Singapore, and Hong Kong. As a freelance worker, I earn around 5k GBP per month by working on contract for a Geotechnical company, managing Airbnb properties for clients, and doing part-time modeling.
## Potential Property Investment Strategy
Considering re-financing both properties to kick start a property portfolio in the North East, I am faced with the challenge of not being able to oversee the projects personally due to my international work commitments. In addition, involving my family in the management process could lead to complications.
## AI Legalese Decoder Solution
With the help of AI Legalese Decoder, I can efficiently navigate through legal documents and contracts related to property management, allowing me to streamline the process and ensure compliance with regulations even in my absence. The AI technology can help me identify trustworthy teams to manage multiple projects long-term, minimizing the risks involved in property investment.
## Investment Options
I am considering starting with lower-value properties in the range of 70-80k GBP, where I can add value and refinance using the Buy, Rehab, Rent, Refinance (BRRR) strategy. Alternatively, I am intrigued by the idea of investing in higher-value properties such as blocks of flats around the 300k mark that offer turnkey investments.
## Seeking Advice
I am open to suggestions and would appreciate insights on the best approach to take in expanding my property portfolio given my current circumstances and financial capabilities.
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