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If you are a Thinking About It or Novice Property Investor, you probably don’t know where to start.
Property Investment or Buy-To-Let is a Multi-Topic & Multi-Discipline investment, but there are a number of aspects that are common throughout.
For example, there are 2 main income streams or returns.
Rent, which equates to dividends in shares & Gain, increasing property values, which is the same as increasing share values.
Unlike dividend income, the major difference with rental income is that you will have costs/expenses to pay out of it, before you are left with cash (profit) to spend.
Another major difference is that you can buy investment property with a mortgage, in fact up to 85% of the cost/value of the property subject to stress-testing & lender's terms. Little chance of buying shares with a mortgage.
So where do you start?
Numbercrunching: Property Investment is more about money than property or even tenants, you happen to need property to make it work and, for Buy-To-Let, tenants, who are the real wild-card in the deal. If you didn't have to have tenants you would reduce the risks substantially!
Think of Buy-To-Let like a Fruit Cake, a product with many ingredients. Drop or change any single ingredient and you change the resultant cake and so it is with Buy-To-Let.
Use the number-crunching apps & calculators to see the effect of changing any single ingredient, even slightly, to suit your personal strategy, aims & objectives.
Foundations: In Property Investment, like property, you need solid foundations. On PIO you can watch the Tutorials that make up my Foundations Course either in total or just what you want to know about, hence the strap line, Learn What You Need - At Your Own Speed. These Tutorials will give you a very clear idea of the potential of property investment, some idea of the opportunities and help you decide on your ideal strategy, your perfect Fruit Cake.
Strategies: Having viewed all the Foundations Tutorials, many still to be converted & loaded, move on to “Strategies” and view the Tutorials that cover the strategies that interest you or are possible in your investment location.
For example, if you are interested in Student Housing there needs to be a University in your location. If you are not interested in Students and there is a University, maybe you should think again.
Or you might be interested in the potential of buying bargains in auction, check-out my Hot Lots Yield Analyser & Max Bid Calculator
Money: Having viewed all the Strategy Tutorials that interest you, next on the list is Money, mortgages, bridging finance, crowd funding. Property investment succeeds on borrowed money regardless of your starting cash pot and this is where the real risks start, taking on large amounts of debt. Not happy with debt, then maybe think again about getting into Property Investment, play with the Investing For Rent, Leveraging & Compounding Calculators.
Find & Buy: Now you need to understand the whole process of, and options in, Finding & Buying which can be very different to your experience in buying your home. A Truism in this game is that your profit is in the price you Pay, not Sell For.
The Rest: Next on the list of Tutorials to watch are “The Rest”, search for all the other categories, Due Diligence, Law, Tax, Letting, Marketing, etc. by tag, eg “student”, to find the Tutorial that include content specific to your strategy and include the Tutorials under Training, not just my Foundation Tutorials.
View these Tutorials, because there may be something “buried” in the detail, which adversely impacts on your aims & objectives, local planning or HMO licensing laws for example.
At the end of the day you don’t want any surprises which might compromise or undermine your plans.
I hope this blog has helped and please complete my suggestions before buying into any costly online or on-location training & education courses.
£20 pcm or less (Network Meetings) are fine as are books, newsletters etc. after that, you need to have identified your target property investment sector before you get involved in heavy spending.
Familiarisation with & Completion of PIO Resources will greatly help you find the right courses for you.
Then all that is left is to make sure that course providers/promoters are bona-fide and we can help you, if you want, with that due diligence.
So now is the time to start Your Journey towards Financial Freedom by Registering for Full Free 7-Day Access to PIO Resources.