It’s common knowledge that the housing market is a little less stable and accessible than it was in previous generations. For younger people, then, it’s more difficult to get onto the housing ladder, and from there to make that second purchase to build a portfolio of housing and properties which you can then begin to work on, diversify or rent out. In this article, you’ll learn how you can make that giant leap into the property investing way of life, with simple tips provided to help you get ahead in 2020 and into the new decade.
Look at Liquidity
You’re first going to need to take a long, hard look at your funds. This is where your overall delve into the property market will inevitably hinge: can you make up the funds to invest? This is about liquidity management and being aware of the funds that you have at your disposal – not only to live and to work, but to invest in property and the renovations that you have in mind. It’s here that your liquidity will mean a lot: so make sure you know your cash flow well before you invest.
Finding the Property
Now it’s time to look to the market to understand where you ought to invest. There are many thousands of excellent investment opportunities at any given moment, and it’s in these opportunities that you should invest your energy and your passion in order to find the very best deal for you. Remember to bear in mind:
- The land that you’ll also own, and the planning permissions you may be granted on it
- The age and quality of the build, and oncoming housing regulations
- The location, and the likelihood of gentrification or decline in the area
- The access to amenities, like local shops, restaurants and public transportation hubs
All of these factors will affect the valuation of the home when you come to sell it – or, indeed, rent it out to make cash from your investment.
Most individuals looking to get onto the housing ladder and then into the property investing market decide to buy properties initially that’ll earn them a certain income each month in rent. It’s difficult to fix up a home without a great deal of liquid cash in the bank – and that’s hard to come by without a well-paid job and rent paid on the side. Bring in someone to help you with a buy to let conveyancing quote in order to get to grips with how this all works, and what you can do to maximize the investment you’re making.
While you’re renting out a property or properties, remember that you can also improve your homes by sending in workers periodically. These individuals will be able to help you when it comes to all of the work you’re going to want to do on your home before you sell it for a profit – so be organized in order to make the most of all of your properties in your portfolio.
There you have it – the key tips to help you get a foothold in property investing in the new decade that’s upon us.