There are a great deal of things that you need to take into consideration when starting a property portfolio, but we’ve put a few tips together to help you get started.
If you want any more information, why not get in touch with Sadler & Partridge Property Investment Specialists, we would be happy to help.
1. Think ahead
Make sure you think about short-term, mid-term and long-term plans with financial plans that incorporate buying, selling and borrowing to help give you the best chance of success.
2. Never pay too much
Make sure you seek out deals locally and make a lot of offers to see what the market is like. Buying below market value will help you make the best return on your investment.
3. Start with something solid
Building a good property portfolio requires solid foundations. Make sure you get it right from the start, this will make things a lot easier further down the line.
4. Timing Timing Timing
Make sure you keep on top of what’s happening in the property market. The key to good investments is buying at the right time, keep an eye out for big investments in the area – this will give you a good starting point.
5. Keep your cash flow positive
It’s important to invest in a property that has a higher rental income than expenses – this seems blatantly obvious, but many beginners fail to double check the numbers before investing make sure you allow for all your costs.
6. Stay local
When starting out, it’s wise to look for properties close to where you live. This provides you with a further insight into the local property market, it also allows you to use the same contractors and agents.
7. Seek advice
This is where we come in, Sadler & Partridge deal with many property portfolios, we look after your property investment with the same high standards we would expect if the property was our own.
Are you looking to make that step into the buy-to-let world? Always had the intention to invest in property but do not know where to start? Contact Sadler & Partridge property investments for a conversation with our team of experts today!