I've inherited some money, what to do?

[ajcc]

Buy some/400 store lambs.....All being well double your money by next Easter!!

 

[Macsky]

Invest it in Heiniger shearing gear, guaranteed to rise above inflation every year, £20+vat for a comb!! [emoji24] wasn’t that long ago they were under £15.

 

[fgc325j]

A

Just buy a house to live in the mortgage will proberly be cheaper than your rent

I agree very strongly with this, sort a roof over your head first. If you want to make a good investment then
invest in yourself next, don't know what you are doing now but could you upskill ??

 

[simmy_bull]

Buy 5 artic loads of bale wrap

I wonder how much a roll it could be bought for currently if you bought that sort of quantity.

 

[Beowulf]

don't invest anything in buy to let.?

why not?some people are making decet returns say he put 20k down on a 50k 1 bed flat, interest only mortgage at £100/month on the 30k and a rent of 350pcm thats 250 minus expenses call it £150/mnth profit ater tax, handy income from not much capital expense and the asset is still there to sell/appreciate

So invest everything in a highly leveraged and illiquid asset with historically volatile valuations, and in return he gets a succession of troublesome tenants who don't want to live in a £50k crack den, an accountant's bill and bugger all return on his investment.

Oh the boiler needs replaced? That'll be this years' profit gone, and most of next.

The tenant isn't paying the rent? That'll be six months without rent plus a couple of grand in legal costs to get them out, and they'll wreck the place.

The roof needs repair? Brace yourself landlord, this one will sting....

Buy to let is a mug's game at that level.

The only compelling case for rental returns I've ever seen was buying/building light industrial units in areas with strong demand.

 

[Grassman]

This £20k will just cause you grief. Money is trouble and attracts the wrong kind of friend!
Why not give it me and have an easy life

 

[ThatsSomeSheep]

Pay off any debt.

Then half of remainder into savings.

Then spend half of remainder on whatever floats your boat.

If you then challenge yourself to double the amount in savings you will soon be debt free, have a nice holiday/toy/experience to remember and on your way to a property deposit.

Remember, anyone telling you “there’s no return in bricks and mortar” is ignoring the fact you are currently paying rent!

Rent = investing in someone else’s pension.

TSS

 

[Turra farmer]

I would ask for the advice of a financial advisor and not a farming forum.

Financial advisor is last person I'd ask for anything ever

 

[New Puritan]

What do you think of the advice so far @Sherlock ? Interesting that the only other post you have ever made on this forum was in respect of "a farm business assignment for college".

 

[Sherlock]

What do you think of the advice so far @Sherlock ? Interesting that the only other post you have ever made on this forum was in respect of "a farm business assignment for college".

Not sure what you're implying about my previous post?
The advice is varied, the fast women and cars are appealing but not sustainable!
I am attracted to buying house to let but the Buy to Let mortgages are expensive, with 60% deposit and higher interest rates, could I buy one on a standard mortgage?

 

[New Puritan]

That's odd, I got an alert to say @Rob Holmes had quoted my post, but it was @Sherlock who has quoted me... Is the forum doing something strange?

 

[Rob Holmes]

Not me, just got back in from taking my daughter to cinema for her 7th birthday, i'll look into it but maybe a glitch

 

[New Puritan]

At risk of taking this thread badly off topic, what did you go and see? My daughter is 7 and is due a trip to the cinema.

 

[Rob Holmes]

The Incredible's 2, good film

 

[bovrill]

Invest in a couple of weeks of drugs and hookers.
And don't forget to put a little aside to spend frivolously.

 

[Still Farming]

Blow it before someone or tax man has it ?

 

[kill]

Buy 5 artic loads of bale wrap

Your way outa touch on bale wrap prices as it would only buy around 9 pallets so that's around half an artic load.

 

[Fossil]

I hear Hamburg has its merits for a man with a few quid in his pocket....

 

[Rob Holmes]

Bitcoin?

 

[newbie]

As you don't already own a house, you would be better buying your own to live in.
You will get a good deal on a mortgage and no stamp duty to pay on your main home.
Save hard and look at a buy to let once you've got yourself on your feet.