Different Angles

There are so many angles to making money through property and few of us particularly the inexperienced are likely to cover more than a handful. Having some form of strategy at the beginning will enhance your opportunity to succeed tenfold. There are so many people giving their opinions on the way you should succeed it’s a daunting prospect to get started especially when the numbers involved are so huge. The simplest thinking has to be the best policy especially in the early stages. I usually recommend people look very close to where they live for initial opportunities to succeed. Adding the problem of travel to the equation simply won’t make it and easier unless you intend to be a completely hands off investor in which case the actual property has no real bearing.

For some the best solution is to have a portfolio built, but ensure you speak with existing clients before handing over any money. The advantages of working close to home is knowledge. Knowledge of the properties and their values, knowledge of the streets and their reputation, knowledge of the area and its rent-ability factor. We should never forget that whatever we do in property at some point we want an end customer to pay us money to achieve a goal. That would generally but not necessarily be a purchaser buying from us, or a tenant renting from us. Having in mind the perspective of the end user should enable us to make better costing decisions at every stage. We wouldn’t normally expect to pay a large amount to decorate or carpet student accommodation which might need replacing each year. However, if we were renovating a detached property to sell on in a nice area we wouldn’t expect to skimp on the finishing’s so it’s a valuable lesson in cost savings and funding issues to know who your potential clients are.

As far as we’re concerned after more than thirty years in the business there are few angle we haven’t at least touched on and we are probably as competitive as anyone in the business. I like to think we have the right ethos and attitude as well. There are so many who give the rest a bad name by being greedy, unprofessional and in some cases downright criminal. We want our reputation to speak for itself and we’re happy and willing to let anyone work alongside us without cost to prove our worthiness before investing hard earned money. Many people are often fooled by tales of big rewards for little effort which rarely materialises. A good point to make is if something sounds too good to be true it usually is, so steer clear of it and never put down money without written confirmation of its refund-ability – even then be dubious.

We can now offer opportunities to use a SIPP (Self Invested Personal Pension) into British residential property and reclaiming of capital allowances in house through our expanding team from our Salford offices. In lots of ways it makes sense to deal with a company that can offer lots of different ways to make money but whoever you deal with always ensure that you start slowly and see the results of your investment before moving forward. When a company is in a rush to get your money out of you, let that be a warning sign that they are not necessarily as well set up as they like to make out. Lots of people fall foul to the slick talking sales men in property investing. Just keeping a level head and treating property like buses (they’ll always be another one) will potentially save you costly mistakes.

Always allow enough time to see results from each angle.

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