Today’s world of property investment is a risky business. As an investor, you’re putting huge sums of cash on the table with no guaranteed return. That takes some bottle, but a lot of smarts.
The wisest old heads in the investment world swear by a number of secrets that decrease the likelihood of a bad return. And those same secrets are the ones they don’t want you, as a newcomer to property investment, to know about. Luckily for you, we’re here to spill all, so that you, in turn, can make sounder, safer and smarter investments.
Ready to find out more? Alright, let’s get started, shall we?
Location is Crucial
It may surprise you to learn that the less savvy investor will often purchase the cheapest houses in the belief that they’re more accessible. Not so. While there’s some truth in the belief that there will never be a shortage of demand for cheaper properties, the returns are minimal. They’re on the market at such a price for a reason.
Did you know that in today’s market, vacancy rates rarely, if ever, rise above 5%? That means that, with the right location, you’ll never struggle to find tenants.
You Don’t Know Best
Okay, let’s assume that you’re relatively new to investing. Without, in some cases, decades of experience to fall back on, chances are you don’t know the market as well as you think. All the studying in the world can’t prepare you for the very real risks associated with an investment.
Now, at this juncture, you have two choices, as far as I can see. You can either play the market by ear – trial and error, if you will – or seek advice elsewhere. The former comes with all the headaches and bumps in the road you can imagine. The latter, however, doesn’t.
Putting your fate into somebody else’s hands might seem riskier at first glance, but it rarely ever is. I urge you to seek property investment advice by wHeregroup or a similar organization. These companies have a proven track record in investing and will drastically reduce the risk for the sake of higher rewards.
Investment is a Business
It’s a concept that can easily get lost in the shuffle, but it’s worth bearing in mind. Your job is not to simply put some money down and watch the returns flood in. The simple truth is, you’re not going to get anywhere without hard work and preparation. You need to spend money to make money, as we’ve discussed at length before.
It’s also imperative that you make time to account for life’s unforeseen events. Death, divorce and redundancy can all send your professional life into something of a tailspin. Take the necessary steps to ensure that the same won’t happen to you. You might think you’re impenetrable or invulnerable, but you’re not.
Life catches us all by surprise. The only way to ensure your portfolio remains intact under such circumstances is to plan for a rainy day. Make sure you’re fully insured, know that interest rates will rise, and budget for maintenance issues. Don’t allow yourself to be caught off guard, and you’ll weather the storm.