Double Your Income With Wall Tiles And A Second Mortgage
Have you ever wanted to get rich quick? Well apart from winning the lottery
, I hate to be the bearer of bad news but there is no get rich scheme. However, if you do want to have a fixed income then one option would be to invest in property.
There are a number of things to consider when buying a property for rent; those include location of the property and the amount of refurbishment that will be required. You don't ideally want to take on too much work and installing a new staircase might be considered too much, but changing some wall tiles or laying a new carpet would be acceptable.
Speaking of wall tiles, adding these to a bathroom or laundrette room in the house can help with the maintenance of cleaning and also adds a warm friendly environment to the house or home.
There are several places that you can now purchase wall tiles from; your first option would be to go down to your local B&Q or supermarket to pick out exactly the look you are after. The second option would be to search online for the wall tiles and evaluate what would be best for the room in question. The advantage to this process is that you have all the dimensions of the tiles close to hand so measuring out shouldn't be a problem.
It may seem like an expensive process to go through when renting out a property but spending money on wall tiles as opposed to paint could end up paying off in the long run. The last thing that you want when renting a house out is maintenance cost, if you can provide a solution in the first place that will last the test of time and make the house look more presentable to potential clients.
Renting a house can provide you with some extra income, while at the same time it allows you to clear the mortgage on another property. Obviously at the time you're not benefitting as much from renting the property out. However, over time as the mortgage is paid off the benefits of having an extra property will become very apparent.
If you can manage to hang onto the property for long enough to pay it off obviously all the profits from the property could be used as your nest egg, a pot of money which you can invest or spend as you see fit. Even if you don't see out the entire length of the contract, you can still sell up and make some huge savings.