The past decade has seen a lot of change in the financial market with some people being successful from their investments but with a lot of people making huge loses which with the right knowledge you can hopefully avoid to secure your financial future.
- Anyone can be a property investor with the right knowledge and influences. Start by researching your local area and building up your knowledge of what is in demand in the area, whether there is a demand for rental properties, properties near schools, properties with gardens, drive etc.
- Once you have calculated demand drive around a few areas and see if you feel they have potential against step 1s criteria. Then bear in mind that you don’t have to be a multi millionaire to be a successful property investor all you need is knowledge and know how. Choose a couple of properties that you are interested in and progress from there.
- Work out the potential rental value of your favorite property, the potential of the area and how much you think the property is worth then make the offer.
- Most of the time no one accepts the first offer, negotiate with the estate agent/seller to come to a mutual agreement on price.
- If this is the start of your property portfolio build your own team of help, find a good agent, a good solicitor, a good financial advisor and anything else you need to make the project run smoothly and financially efficiently.
- With all that in place you are ready to buy the property and get the keys. Then find a tenant to cover your mortgage outgoings.
- Although investments overall this year have struggled property is one of those investments that will always increase in price again in the UK, as demand is always going to be greater than supply.
Source : ehow .com