After several months of uncertainty in the UK property market, things are starting to become more settled – a fact that savvy investors are picking up on. Experts predict that 2018 will be a good time to invest in UK property, as prices start to pick up again, and tenant demand continues to grow.
If you’re interested in investing in property in the UK, here’s a handy guide to getting started.
Property Seminar Tips – Starting Your Property Portfolio
- Identify the right places to invest. Some investors choose to focus on a particular city or town – as it makes it easier to ‘keep tabs’ on their properties. Other investors prefer to diversify; purchasing buy-to-let properties for sale that are in various locations across the country. Whichever approach you adopt, it’s imperative to select the right locations – places that offer high rental yields and good capital growth. If you’re not sure where to start looking, work with a reputable property investment agent – as they’ll be able to help you.
- Choose a target demographic. Again, you may prefer to diversify – and invest in properties that appeal to different types of renter. However, we’d recommend sticking to one target audience (at least to start with). By focusing on one type of renter, such as students, young professionals or families, you’ll develop specialist skills in this area, which can be beneficial for future investments.
- Develop a solid strategy. It’s possible to build a lucrative portfolio with a fairly minor initial investment – if you’ve got a great strategy behind you. By having a solid plan, you’ll be in a good position to not only buy wisely, but sell, then reinvest; which should bring about more rental income, plus better profits from capital growth. If you attend a property seminar, it’s likely that strategy will be discussed there – or alternatively, work with a property investment agent.
- Work out a budget. It’s important to be realistic about how much you want to invest- and to never go above what you can comfortably afford. Remember, in addition to purchasing your buy-to-let property for sale, you’ll need to factor in other costs – such as insurance, letting agent fees, mortgage fees, maintenance and repairs, plus other things too. If you’re unsure about your finances, hire an expert advisor to help you.
- Start small, then develop. We personally recommend starting small (perhaps in a cheaper area, or with a smaller property) to ease yourself in gently to the investment process. You may want to avoid properties requiring a lot of work to bring them to standard; unless of course, you’ve had lots of experience renovating properties.
The Buy2Let Shop Limited
If you’re keen to start developing a property portfolio in 2018, talk to The Buy2Let Shop. We’re a team of professional property investment agents, and we’ll help you with your investment strategy, plus assist with sourcing the ideal buy-to-let property for sale to get you started. For more information, please visit The Buy2Let Shop website today.