5 Property Investment Tips That Pay Off
People choose to invest in property for a multitude of reasons, however, the biggest motivating factor is undoubtedly, the money.
For those who invest in property, there are many ways to make a profit. If you’re savvy, you too can make money from your investment.
Just take a look at our top 5 tips, to find out how…
Buy-to-lets are more popular than ever. With high demand for rented properties and plenty of letting agencies available to lend you a hand, a buy-to-let is an easy option. Investigate up and coming locations, speak with a trusted mortgage advisor and always do your research.
Flip a Property
The art of flipping comes with practice. However, once you know what you’re doing – or have the help of someone who does – flipping properties can make you money in the shortest amount of time possible. Find a do-er upper, carry out any required maintenance or modernising and in a matter of months you can have the property back on the market. As always, be sure to research any costs that may be incurred during the process, in order to weigh up the potential for profit.
Convert Into Flats
Bought a large property and not sure what to do with it? Why not consider splitting the property into smaller apartments? Of course, for the project to be successful the finished value of the new flats will need to outweigh the costs of converting the building. So if this is your first project of this kind, be sure to seek professional advice before you start.
There are plenty of bargains to be found abroad. A Spanish holiday home, an Italian farm, an inexpensive new-build in a more exotic location…If you like to mix a bit of adventure with business, there are numerous opportunities for property investment overseas – and at much lower prices than you’ll find at home.
Rent Out a Room
Does your home have a spare room? Taking in a lodger is an easy way to profit from your property, as well as a great way to meet new people or enjoy some extra help around the house. Better still, you can make up to £4,250.00 before you have to declare any earnings to the taxman.