Understand The Bare Bones Of Property Investment

Manchester Media City Salford
So here we are at the Summer Solstice or the longest day of the year as most of us know it. Of course the daylight being longer doesn’t actually give you more energy even though it may seem that way. You only have the same amount of hours but if you use your daylight hours better you may be able to get more outside jobs done. When you’re a property landlord there are always outside jobs to do and inside ones to all your houses, and administration and tenant problems and a whole list of things which you wouldn’t be expected to do in a proper job. Who wants a job though? What has come into question a lot recently is just who is doing what and why. What is the purpose of being a property landlord other than the obvious opportunity to make a lot of money and live a very easy lifestyle? More and more we see people coming to us who already have a very good lifestyle and want to safeguard their future income by getting or increasing their property endeavours. We may have already passed the bottom of the market now as recent reports suggested more sales going through in the last quarter than any time in the last three years.

Potentially property has the ability to give many people both income and work satisfaction but it’s not just about the houses. Each property has to have tenants to pay the bills and a landlord’s job is really working with people who expect attention. Recently moving a new tenant into an apartment where there were drainage problems we did not know about doesn’t help the new tenant feel he has got what he wanted. Only by our swift action to get things done without qualm or question has stopped us from having an iratetenant that would spread bad relations from something that we didn’t and possibly even couldn’t have foreseen. There is far more to being a landlord than most people think but there are also ways to help yourself provided you look at the real need you have and the best way forward which is usually different for everyone. For this reason we like individual consultations with each client.

City_of_LondonThere are some people who need to improve their credit rating or even get County Court Judgements removed to be able to build their credit to enable them to get a mortgage. We can generally help anyone who is willing to work with us to help themselves but we find some people in exactly the same position unable to borrow even when the have sufficient cash to buy outright. You might even ask why they would want to. Everyone needs to look at their own finances as a means to an end because when we are literally just bare bones we don’t want the taxman to have everything we have worked our entire life for. He has enough of that whilst we’re alive so when you die you really want your wealth to either go to your loved ones or your cherished causes. It has to be planned long term for a comfortable retirement both financially and in what you want to do for personal reward. It also has to be planned to create benefits for those who you want to remember you. There are ways to make mortgages companies like you if you know what to do but not all lenders are that keen on landlords. The requirements right now are so stringent that they generally want belt and braces so having a job is one of the best ways to secure borrowing.

The market is such now that there are many varied ways to buy, own or control property to get the cash flow to move forward with building a portfolio that will see you into retirement. Even those for whom retirement looms large opportunities are available provided they can work through a third party like us to enable them to get what they want. Yet again the old adage comes up ‘Fail to plan and you plan to fail’. The sooner we do anything in property the better generally and the way we do it is paramount in getting what we want. There are still ways to invest and return your capital within a very short space of time provided you plan your actions to meet your goals. Whatever your intentions or current financial situation we urge everyone to be very careful when investing their hard earned money and never rush or feel pressured into buying any big ticket item especially property. When you have years of experience and can see the mistakes others make you can understand how to build your property portfolio, your income and your lifestyle, cheaply, easily and for the right reasons.

This week see’s the prelaunch and restyle of one of my old books ‘Property Landlord How NOT to do it’ is an easy read that could save you more than money.

Next week see’s us at Reebok Stadium Bolton for the Landlord and Letting Show so come and say hello and we’ll give you the bare bones of successful property investing so you can avoid the mistakes and enjoy the success.

Always have your goal set and your plan to follow.

Written by:
Lionel Palatine – He is a regular networker and a speaker at events as well as being a property author and adviser. He joint ventures deals and shows people how to buy property for low cost which are inclusive of all fees and deposits.

You can find him on regular social media Twitter |  Facebook  |    |  Youtube  don’t forget to add him

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