is it possible? please read

U

uk125

Active Member
hi guys

been visiting ibiza 9 times in last 6 years. i'm starting to have a crazy idea about living there recently!!

my house is worth about £120k and got no mortgage. there are new blocks of flats built few years ago. at very good price and lenting out is high demand as it's very close to town, train station link to main city of liverpool and manchester.

i'm thinking of selling up my house and buy 2 of those flats for £40k each and rent them out for £450 each per month. which will leave me £40k spare and £900 per month.

will £40k and £900 per month enough to live in ibiza? i'm a not very keen on owing a car in ibiza.

if i rise another £3k or £4k i may have enough to buy 3rd flat to make it £1,300 per month income but without large spare money, so its a risk involvement

what about income tax in ibiza from the rents?

any idea or any advice is welcome.

thanks
 
or even better, parr[video=youtube_share;BPpCs04hIRc]http://youtu.be/BPpCs04hIRc[/video]
 
lol, stephen you're close but its right in town centre of st helens, new blocks off flats are 2 mins walk from train station and bus station.

nope not rough area :)

parr/fingerpost are roughest part in st helens.

anyway.........it's not answer my questions lol unless i'm wrong place to ask?
 
you couldn't live on €900 and would soon, quite literally, eat into your capital. however, if you got yourself a job - easy to say, harder to do - you'd be euros in.
 
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