There’s lots of rumours about the property industry, like…
Property is hard to get in to, property takes a lot of time, property needs a lot of money…
That’s NOT true.
Far from it in fact.
It’s unfortunate because, property is by far one of the most profitable and secure asset classes and businesses you could have (and has become even more profitable now than ever before, because there’s LESS competition, and MORE great deals for you to grab hold of!)
So how do you as a new property investor, get in to the property business safely, securely and profitably?
At Premier Property, we believe in sharing information with you that can be PRACTICALLY used, no fluff, no hype, just honest steps that work…
So let’s jump straight in to 3 steps you can do right now
Property Business Tip #1: Where to buy
WHERE you’re looking to buy a property is just as important as WHAT you buy.
This may seem like a pretty obvious factor to remember – but you’d be surprised how many property investors forget to do just this.
Property investing is very lucrative when done right, but very expensive when done wrong.
Knowing your area plays an important part in how successful you will be.
Buy somewhere which is going to be attractive to tenants and where there are enough people who will want to rent. You want tenant demand to outweigh supply of houses.
Think of your ideal tenant and put yourself into their shoes…what would they want each room to look like?
Here at Premier Property, we know that the location of a property is one of the most important factors when deciding what you invest in.
Want more tips on doing your due diligence on a property? Watch this clip where I talk about getting your due diligence right every time.
AND with all the changes BREXIT is bringing to the business world, go and check out this FREE eBook about how you can prepare for Brexit by clicking the image below! It is a great way to pick up top tips if you are just starting out in property investment…
Property Business Tip #2: Know your tenant
Remember that this property is for THEM and not YOU.
In order to start getting a better picture of what you’re looking for in a tenant, start to map out some ideas so that you know what kind of tenants you’d want to live in your future property.
Think of yourself as a business…
Just like they must know their target market, you need to identify your own prospective tenants so that you can ensure that your property is attractive enough for them.
This will encourage prospective tenants to rent from you.
So how are you going to do this?
Property Business Tip #3: Know your investment yield
An investment yield is the income YOU get back from an investment.
Buy to let property is generally a longer-term investment but any investment should “yield” a profit.
Of course, I cannot give any tax finance or legal advice, all I am doing is sharing my perspective with you as a property investor and developer and sharing what we do here at Premier Property.
You will also want to consider any costs.
This means advertising that the property is available for rent as much as possible.
It will really help your investment to do this.
Or, if you decide to use an estate agent to manage the property.
Think about it like this – the more work you put into your property, the larger your annual rental income will be…
Of course these are just some of the steps you can take, but they will be extremely helpful when starting out.
And if you’d like more of the best tips on property investment right now, then have a look at this!
My book on How To Boost Your Pension and Income From Property provides you with the best top tips and strategies you NEED to know to be a successful property investor.