Property Investment in Scotland
Are you interested in property investment in Scotland? You might live there or just be thinking about what opportunities exist in that region. The first thing you should know is that the rules are generally slightly different and very different in some parts of the country. In this edition of Sunday Q&A, one of the questions which Samuel answers is about lease option agreements in Scotland. There are other great pieces of advice and golden nuggets which arrive from this episode, so get ready to listen and take notes.
Firstly, when approaching a solicitor, you need to find one who has experience dealing with lease option agreements – if that’s your chosen strategy. Most run of the mill solicitors will not know what to do or they might just pretend in order to get your business. So, it’s really important to seek help and legal confirmation from experienced solicitors. If you do find that there are hurdles and obstacles in your way in Scotland, you have a choice. You can keep working there, be more creative and adapt your strategy. On the other hand, you can simply conduct your investment strategy south of the border where the rules might be more apt. The choice is yours.
Another topic which is touched upon is the idea of treating yourself using debt. One of the commenters said they would pull money out of their properties once in a while to spend on leisure. Samuel says this isn’t a good idea because it’s not yours. You shouldn’t get into the habit of indulging from capital that you don’t own and have to pay back.
What do you think? Would you separate business from your personal life? If you have questions of your own, please leave them in the comments section below the video on YouTube.