Saturday, 14 December 2013

Do you work as hard as you can to pay your mortgage off or do you make your money for you?

The Telegraph recently ran an article stating that more mothers have gone back to work in the past two years than in the previous 15 years.  Suggesting that perhaps in the current economic climate more mothers need to return to work.

At Midas we work really hard to help our clients make their money work for them which does not necessarily mean them actually going to work. We have a client, who understands our philosophy of not paying their mortgage off, and using their money to make money.

Our client, Mrs F, has remortgaged her existing house and bought two more properties - one a holiday home in Devon (which she can also use for holidays) and the other a property in St Neots - 40mins to King’s Cross station in London.  The Devon property is now bringing in an 8 percent return, St Neots rents for £1,300 a month. 

The profit on these two properties covers the payments on her original property she remortgaged and covers the mortgages on the other two investments.  In addition to this she has an extra £700 a month income.   The question we ask those looking to change their lifestyle is “Do you want to work or start making your money work for you?” We all have one life and one chance; money makes money.

Ian Clark , MD 

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