BIIIIIIIGGGGG Purchase

Well the poker has been going poorly over the past few days, some tired play has seen me slip back a little. It is soooo annoying to sit at a table, know your opponent has AA to your KK and still put the money in - rare that I do it but it irritated me so much I've frozen my account for a couple of days.

Anyway away from poker I've done something which I always intended to do and bought a property for letting purposes. It's a 1 bed flat in Chorley bought off plan for 15% below list price - hopefully this is a good move as it's a good area, lots of jobs and stuff moving that way but it's still little more than a suck it and see move. I've realised that I am largely clueless so my knowledge wasn't going to grow any more, I liked the opportunity, and am in a position to do this so I've just gone for it. The flat gets finished in February so hopefully I'll have a tennant not long after that.

It does mean that In order to buy the place without resorting to a mortgage I need to find (win) about £10k over the next few months, shouldn't be a problem and if necessary I can always raid my mortgage for the extra.

It's fairly exciting and probably quite risky too but whatever happens as long as I keep it for 5-10 years and have it rented out there is no way I can lose out long-term as house prices, even if they crash will recover and I'm not going to be liable for mortgage payments. Only problem comes if I can't let it which doesn't seem to be likely but then what do I know.

First tentative steps into the world I intend to be frequenting more in the future and if things go as planned and this is successful I intend to buy another by the end of next year - obviously this very much depend on how things go poker wise and the success of the purchase. The way to do things like this is to invest in a number and have mortgages on them all but that is a little much for me to contemplate as yet, I'v esaid for ages I never want to be in debt for more than 100k and I intend to stick to that.

26, almost retired, 2 properties - it's not bad really is it!

Steve