Hi guys,
as the title says, I have unexpectedly inherited around £290,000 and don't know where to start. I'd love some informative input.
I am...
25 years old
recently graduated with a masters in physics
currently working at a mall.
I'd like to maximize some kind of regular income from this, maybe through renting out a property
There's risk tolerance on maybe half, I'd like to keep the other half safe
I have never invested before, except lucking out with a small bitcoin purchase in 2011
No house, no car (though I'm looking to buy a cheap one shortly)
I have a student loan debt of around £15,000
One plan I'm thinking of pursuing is to buy a small property to live in for 6 months (to clear capital gains tax), and then using that property against a buy to let mortgage to purchase another property to rent out. This should provide some regular income but I dont know whether to try to pay of the mortgage or to sell the house when the market picks up and take the profit.
I'm open to any suggestion, I'm in an extremely fortunate position and want to make the best out of it.
Congrat, but anyway dont invest in property, invest in BTC instead