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Top Tips for a Smarter Property Investment Strategy

2 April 2018 No Comment

Looking to invest your money in property? Great! Investing in property is a great way to pave the road to financial security, particularly in retirement. Investing in property is no easy task and so here we have listed for you our top tips for a smart property investment strategy that we wish we had known before we started investing!

Don’t Let Discounts Distract You

When you first start looking at properties on the market to buy for investment purposes, it is easy to quickly become distracted by the ones that offer big discounts. While this may at first seem like a very attractive offer, you will learn to realise after you gain more expertise in this field that a discount does not always equate to a great investment. You should always question why a house has a big discount, for example, does it need a lot of on-going maintenance work that will cost you in the long-run? Is the area in which it resides not very good? This can seriously hurt your chances to find reliable tenants for it!

Use Leverage

If you have been speaking with other property investors, then they may be trying to give you some cost-cutting tips that you can implement as the owner of the property. For example, if there is some minor repair work that has to be carried out then you may think that it is okay to do this yourself. However, it is important to remember that with a property investment you are the owner and not the worker. While you may be saving yourself a little bit of money by doing this when you really think about it, are you saving much money once you factor in your time? What if the repair you do is not quite correct first time around? This is why we would recommend simply being the owner and not the worker!

Hire Professionals

If you are new to property investment, then one of the biggest pieces of advice that we can give you is to get help! A property investment company can help you in choosing a diversified portfolio that is sure to grow over the years. They will have years of expertise and knowledge that they can use to help you grow your portfolio and can prevent you from making not so great purchases that will not lead to a high return on investment. You will definitely thank us for this piece of advice in the future when you have a fantastic portfolio that is completely stress-free!

Know When to Exit

If you are just entering into the world of property investment, it is easy to get caught up in choosing your properties and then watching as they grow in value. However, it is important that from the very outset you have an exit strategy planned as this will help to determine the properties that you want to buy. Spend some time thinking about your end goals and then tailor your strategy around them.

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