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  1. #1

    Need help with portfolio in unique circumstances

    Hello, I am in a fairly unique situation, where I have the foundations (financially) but not the eligability to expand. I'll give an overview of my situation, and any help from those more knowledgable than me would be much appreciated.

    I play poker for a living, generally online. It has been a good income for me (50-80k a year) although due to time off, living abroad (not now) etc my pay has been irregular and unreliable as far as banks or lenders would consider it. I am 29.

    I currently live in a mortgage free apartment worth 280,000, where on the deeds I own 10% and my mother the other 90%.

    We jointly own a flat that we currently rent out, worth 100k

  2. #2
    My mother owns a Spanish villa worth 180,000, although this is hard to estimate given the current Spanish housing problems. She has a pension income (although not significant) and savings of 50kish. She is a Spanish resident although has UK income. I have around 90k of savings.

    Could anyone give me advise on my best options? My ignorant (as of now) aim would be to get as many BTL mortgages as possible, however that could be achieved using any of the above. My income obviously would mean I would be pretty comfortable with any risk. But the 'no income' thing seems to work against me.

    One stumbling block I have to consider is the Spanish tax situation, as having too much capital gains or income for my mother would result in large taxes.

  3. #3
    You might find some helpful suggestions in the forums at Property118 or PropertyTribes.

  4. #4
    You are too young to be making only negative contributions to the welfare of the human race.

    If you go into borrow-to-buy-to-let in the UK now you will soon be a busted flush. Some would say deservedly.


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