|
Now that I think about it more, the more I like the flat idea.
Say the bottom drops out of the housing market. The last thing you want to be doing is trying to sell a house for profit. You will lose money.
But owning a flat wouldn't be so bad. Not many people will be buying the low priced houses out there, because the interest rates will be so high, they still can't afford to buy a house. That means there will continue to be a lot of renters. You should still be able to rent your flat out and make your money. Now if your idea of buying a flat is to sell it for a profit, then it won't work. But holding a flat and renting it out should be OK.
The bar idea could be really good, but there are a lot of regulations governing places like that and I understand it can be complicated. If it's a busy college town, you can probably make decent money, but it's a lot of hard work. If you aren't there all the time, your profits will walk out the door as your help gives away free drinks etc.
I like the flat idea because you put in a minimum of effort and get a steady income. Only real risk is if the place is falling apart and you have to constantly fix it.
|