"I am a doctor who is struggling to know what to do with all my extra crash.
Since the credit crunch started everything I look to buy gets cheaper.
My residential mortgage repayments are down to threepence.
I've just been to buy a new car and was forced to except a £16,000 price reduction.
The same goes for holidays, wine cellars, clothing, builders, all seem to be costing less.
I don't seem to be able to spend all this extra cash that I'm saving.
You see my pay deal means I get a fantastic six figure salary with a guaranteed pension, I know my job is secure, so what can I do with all this extra cash?
I don't want to be seen to be spending too extravagantly because it might wind up my neighbours , who are all struggling financially.
My savings account is getting bigger and bigger but it's earning poor interest.
Houses are cheap, should I buy a couple of those to rent out to the folk who have lost their homes through repossession?
I have other friends who are doctors and managers in the state sector who have similar concerns."
Yours Dr Richard Thanu.
Hawkeye reply
Well Richard, I can see your concerns about all this extra cash sloshing around.
Well unfortunately you might be having to buy properties at a knock down price.
Fortunately as high value products, they still cost quite a lot so that should get rid of some cash.
My advice is to pick up some traditional housing stock in decent areas that you have some local knowledge on. Maybe some two bed terraces or 3 bed semis.
As a cash buyer maybe have a look at the property auctions for repossessions.
You could possibly look to buy near a hospital, which often increases tenant demand.
Good luck with your property investments.
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