I’ve been a landlord in south Manchester for more than ten years, self-managing one or two properties owned outright in my own name and operating at 5-6 per cent gross [yield]. Having built up a good reputation as a landlord and having just inherited £250,000, I’d like to expand while still following my previous strategy.
Should I incorporate, transfer my current rental (with costs) and buy one more outright; or aim for two or more properties with maximum 50-60 per cent mortgages? I could see myself expanding further in future, so I am leaning toward incorporation, as the current market is very buoyant. I look forward to your advice and appreciate this is a very fortunate position to be in.
Chris, Manchester
You’ve got two