If recent reports are anything to go by, 2018 looks set to be a great year for property investors; with opportunities arising in many locations across the country. Get your year off to a good start by making a list of ‘resolutions’ – an action plan to guide your investment and grow your portfolio.
Here are some useful ideas to start you off.
Your New Year’s Resolutions for Property investment
- Research the market. Investing in property in the UK should always be viewed as a serious business. Get it right, and you’ll end up making good profit, especially if you’re focused on developing a solid portfolio. As such, you need to get in the habit of researching the market as often as possible. Read relevant publications on a daily basis, talk to industry-related figures, and attend as many property investment seminars as you can, as they’re an excellent place to pick up tips and insider-insight.
- Reinvest cleverly. We’d recommend trying to grow your portfolio as swiftly as you can – and the best way to do this is to sell for a profit, then reinvest into further properties. This can be a daunting experience (particularly if you’re new to property investment), so it may be prudent to get an industry expert to assist.
- Consider buying a property at auction. House auctions are a fantastic way to find buy-to-let properties for sale at a cheaper price. It’s wise to attend a property auction before you bid though, as they’re often fast-paced (and somewhat confusing for first-time attendees) – and seeing an auction in action will give you a valuable flavour for the process.
- Work out your margins. Ultimately, your property portfolio is a business endeavour, and as such, your focus should be on profits. Take the time to sit down and number-crunch; working out profit forecasts, predicted expenses and overall rental yield. If you’re not sure how to approach this task, a property investment agent or financial advisor may be able to help.
- Find the right location. Some places in the UK are performing better than others, and it’s useful to know which they are. For example, several northern cities, such as Sheffield, Liverpool and Manchester, are offering excellent rental yields at present. Alternatively, areas such as the Kent coast and the London commuter belt look set to offer great profit from capital growth. Make it your task to get familiar with the high-performing locations, then adjust your investment plan accordingly.
- Make life easier for yourself. Remember, there’s plenty of support and advice available to you, providing you know where to look. Letting agents can take on the stress associated with being a landlord, and property investment agents are on hand to ensure you invest in the right places. Don’t be afraid to ask for help – it can make a big difference.
The Buy2Let Shop Limited
If you’re searching for buy-to-let property for sale, but aren’t sure where to start looking, get in touch with the Buy2Let Shop team. We’re professional property investment agents, and it’s our job to help you grow your property portfolio and achieve greater financial freedom.
To find out more, visit The Buy2Let Shop website today.