SkyFive Properties Blog

If you want to start making some real money in real estate, then you need to look at where successful businesses started out, rather than being distracted by the cool stuff that they do. That’s where you’ll find true success.

But what about starting your own real estate world? How do you go about building that empire that will (or at least should) bring in the money, and allow you to make not only an income, but a major profit? Here’s how.

Short term rentals

People have many different views on short term rentals, both good and bad, but while you may not like the idea of them, you can really make a decent income from investing in short term properties. Take summer homes for example: families are always looking for places to go and stay while they spend their holidays somewhere nice, and because they’re treating themselves, they are willing to spend that little bit extra. So if you know a collection of apartments that aren’t in use, consider doing them up and renting them out short term for holiday goers.

Fix and flip houses

Fixing and flipping is one of the most popular ways of surviving within the real estate business. Although it’s known as being a short term act – it’s very effective, and can be repeated as many times as you want as long as you can find the right properties that will benefit from this. The key to making money is to search for homes that are undervalued and in need of a good renovation. Once that’s done, they can then be sold for a lot more than what was originally estimated, leaving you with a nice profit.

Invest in multiple businesses

Investing in various businesses is a great way to go higher up on the real estate ladder. In fact, the direction you take your investments isn’t actually that important as long as you can somehow connect it back to your original industry. So have a look at the waste management stock symbol as well as the real estate investment trusts so you can manage money and constantly earn an added bonus, while focusing on your main goal. It’s important to remember that every little helps, so if you know you can put your money into something and have the chance of getting a lot back – go for it.

Represent home buyers

If you’re good with people, as well as communicating, then work on your selling skills, as the better you are at being a brilliant salesperson – the more chance you have of making money, and a lot of it. Marketing goes hand in hand with this, so it’s a good idea to invest some of your money into launching your own advertising campaigns. As the more people that see what you’re selling – the wider your chances are of drawing in business. You want to reach out to as many individuals as you can so you get the most out of the exposure.

You might think that selling a home is a simple process, but it definitely isn’t. There’s a lot to consider from the fees you’ll be expected to pay to making sure that your home actually sells on the market. Remember, it’s not uncommon for homes to take months or even years to sell on the market. Beyond that, there are some secrets and hidden facts that you may not realize and may be useful to know when you do decide to sell your property.

Agency Fees Aren’t Set In Stone

A lot of people think that the agency fees advertised cannot be changed and this not the case at all. You can haggle or to put it more politely, negotiate to get lower fees from your estate agent when they offer you a service. Perhaps you can’t afford the full fees they are charging, or maybe you don’t think the cost is worth it for your home. Either way, it’s always best to discuss rather than point blank accept the costs.

There’s A Prayer To Sell

Did you know that there is actually a prayer that people believe helps you sell your home? The prayer to Saint Joseph can be found online. Supposedly, if you say the prayer and bury the statue your home will sell in just a few days. Whether you believe this or not, there are plenty of people who swear it worked for them. So, if you are struggling to sell, it might be worth giving this a shot.

Your Home Is Overpriced

It’s a well-known secret that estate agents actually start your home off at a price well above what it should be. We’re not talking crazy amounts here, it’s usually between ten and twenty percent, but that’s still enough to get home buyers to think twice about making a purchase. So, why do estate agents do this? Well, you have to remember that estate agents need buyers to like them so there’s a good chance they’ll do this just to get a buyer to choose their firm over another company. As well as this, it does give a solid starting point. That way, if you do need to drop the price at least, you’ll still be getting a decent value for your home. And, don’t forget that a lot of buyers will low ball their offer. It’s best then to make sure they think the home is worth a little more and for this reason, estate agents have the right idea.

You Only Need To Answer Direct Questions

Legally, this is absolutely true. Don’t feel you need to give all the information about your property to a potential buyer. If they don’t ask the question, you don’t need to tell them. An extreme example would be if a death occurred on your property. Unless a buyer explicitly asks you or your estate agent whether someone has died on your property, there’s no reason to mention it at all.

Did these facts astound you? It’s always a smart idea to do some research before you sell your home because there might be a few key details you’ve missed that could help.

When it comes to life, everyone will have their dream home in mind. We all want to be comfortable, and be able to live in the manner that we choose. Whether your dream is to own a farm and live in the peaceful countryside. Or you want to be able to able to live right on the beach in your own kind of McMansion, then great. No matter what the ideal living situation or dream home looks like to you, you will have a bunch of key financial considerations to make. So let’s take a look at what they are.

Upkeep

This is something that a lot of people forget about entirely. No matter what kind of dream home you have in mind, it’s no good just being able to afford to buy it. You have to make sure that you can keep the house running and operation once you’ve moved in. So you need to know the upkeep costs upfront.

Fees

Another big deal is the external costs that are associated with buying your dream home. Because again, you’ve not just got the downpayment, you’ve also got taxes, professional fees, and even service fees. These all need to be factored into your budget and the buying process too.

Credit

Finally, you’ve got your credit. Because this will really impact on the overall cost of your dream home. Not only will you need to look at the minimum credit score required to help you get the loan, but it will also determine your payment rate. So use the infographic below as a guide on this.

Find Out More: Credit Guide for Mortgage Loans

Buying a home, for many people, is one of the most significant and sizable purchases they will make in their lives, yet due to time pressure, research is today suggesting prospective buyers are often so time-pressed that they check out the property for an average of thirty minutes.

There are, of course, a number of background checks undertaken but these are often outsourced to surveyors and solicitors with much of the focus being on administrative issues and structural stability.

This article looks at a few areas you should strongly consider checking prior to purchasing a home that aren’t included within most standard home inspections.  As an example, if you have reason to believe pests might pose a problem within the home you’re buying it is worth thoroughly checking for signs of rodents as you don’t want to have to call ABC Home and Commercial pest control services as soon as you move in!

Another area to look into, of course, is plumbing, as this is one of the most costly and overlooked areas of home maintenance.  In part, this is because plumbing can be difficult to fully assess due to pipework being hidden and buried deep underground, however, there are ways to thoroughly inspect the plumbing of your property and it’s strongly advised that you do so.  Here are four areas you should consider looking into before purchase:

Sewer Line

You may wish to invest in a sewer inspection whereby specialist plumbers will come with a sewer camera to inspect the main sewer line.  Drains clog for a reason and they do not fix themselves; this camera inspection is highly recommended, as if you know the condition of the sewer line prior to purchase you have the certainty of knowing all is well or the insight to negotiate a more informed price.

In short, a quick camera inspection of the sewer line could make you aware of a hidden and potentially costly issue prior to purchase that would otherwise go unnoticed.

Water Heaters

The majority of water heaters are placed in areas that are out of sight.  Unfortunately, leaks are only noticed because of visual evidence of water damage (such as water coming through the ceiling).

A professional plumber should be able to determine the age and whether it’s safely working. You also need to consider the size of the water heater and ensure it’s suitable for your needs.  The investment required to obtain an efficient water heater is significant; so if the boiler does need to be replaced you may want to work this into your negotiations.

Toilets

If a toilet is constantly running it could mean the chain or flapper needs to be replaced, and if a toilet is not draining properly it will lead to leaks.  A leaking toilet will eventually rot through the floor – meaning, you have the potential to literally fall down the toilet.

Drains

Clogged drains are one of the most common issues plumbers are called on to resolve, as they are simply caused by built up oils, material like toilet paper, loose hair and so on.  Whilst common, and seemingly simple, clogged drains can lead to serious leaks.  To test a drain, turn on the water and let it flow for a few minutes.  It should drain instantly and consistently.  You should then look under the sink for signs of water damage, mould, and visible leaks.

There are a number of areas to inspect in addition to plumbing, on the basis you don’t want to buy a new home to then have tons of unexepected DIY repair work to undertake… but now, let’s take a look at a few less obvious things to consider during the initial property inspection.

1. LIFE ESSENTIALS

Consider things such as whether your phone works in the property.  This one is often overlooked to the lament of new homeowners everywhere.  Do you have full reception or do you need to go in the garden and stand on one leg in order to be able to make a phone call?  How about the speed of the internet?  These little life essentials are becoming increasingly important in today’s world – and shouldn’t be overlooked.

How is the garden?  Is it suitable for hosting outdoor parties and having friends over, or is it small and unsightly?  Again, these little things are important particularly when you consider the fact you’re turning your purchasing a home rather than just a house.

2. THE VIEW

A beautiful view is a nice to have, but more essentially, you want to be checking for strange structures or signs of heavy construction within the area – for what could be a nice view today, could in a few years, end up very different.

3. THE SOUND

How does the property sound?  Can you hear the neighbours arguing?  Is there a busy road that will keep you awake at night… or a cockerel that’s sure to wake you up at the crack of dawn each morning?

4.  STAY NEARBY

Spend a night or two at a nearby hotel or an AirBnB in order to get a feel for the area; go to the local gym, peruse the shops, eat at the local takeaway – what’s the attitude and atmosphere of the location.  How is the location and area after dark?  How busy and congested are the roads in rush hour?

In summary, buying a new home is a significant investment and well worth a little extra research to ensure what you are buying is a good fit for your needs.

With real estate attorneys costing anywhere between $300 to $5,000 at the end of a closing, some people may want to skip that expense when buying a home. However, when dealing with complicated transactions it’s important to have a licensed professional to help with decision making. A real estate attorney can help save time and money through their experience by avoiding costly mistakes during closing.

For lots of families, their home is their biggest asset. Paying too much or buying a fixer-upper could end up being a burden for a homebuyer. It’s important to have someone in your corner when navigating difficult legal or financial territory.

If you’re thinking about hiring a real estate attorney, you want to be able to invest your money in hiring the best around. Here are 7 tips to ensure you get the best that money can buy.

1. Start Your Search Early

When you’re searching for a real estate attorney, you should begin making calls around the same time you start house hunting. This will give you plenty of time to do some short phone consultations and have conversations with several attorneys.

Finding someone who understands what you’re looking for is important. If you start your search too late, you’ll be stuck with whoever is available. Allowing yourself enough time means that you’ll have time to build a comfortable rapport with whoever you hire.

2. Ask Around

If you know other people who’ve bought homes recently, ask who they used for an attorney. Be sure to ask if they had a good experience with that attorney.Broaden your scope to colleagues and family if need be. Ask your real estate agent. They might know some great attorneys.

Make sure your attorney isn’t at all connected to the agent you use. They could be working in cahoots to get you to buy a less desirable property.

When you speak with friends and colleagues, get a feeling for how their attorney helped them. Ask questions about navigating the home-buying process and see if their attorney was any help at all.

3. Ask About Experience

When you start your search, focus on finding an attorney who is used to carrying out home sales. This should be a “residential attorney” who is well versed in real estate transactions. There are a lot of attorneys out there who have only handled a few real estate transactions who might sell themselves as what you need.

When you meet one, run a search for their name on the internet. Check with the state’s bar association website to see if they have any information. The American Bar Association’s own website has a database of real estate lawyers you could find information on.

An experienced attorney should even be able to suggest the type of home you should buy.

4. Do Some Research

Take some time to look up each and every attorney you hear about online before you call them. You should be able to find out about their educational and work history online. There should be a list of credentials you can find as well.

Look for reviews on lawyer review sites or even on Yelp. While you should always take reviews with a grain of salt, they’re not all bad.

Take a look at these lawyers’ websites and see that they can verify what they’ve told you. Also, see if there are any testimonials listed. While testimonials are curated by the lawyer themselves, they give you an idea that there are real people who’ve dealt with this lawyer in the past.

5. Interview Them

Once you’ve made a short list of attorneys to work with, start making some phone calls. Try to get some in-person meetings with every lawyer who seems interesting to you. Make sure that they all offer some kind of free consultation.

Get to know the details of their background and how much experience they have. They should have a concrete number related to how many closings they’ve performed. They should be able to also provide some clients as references.

Feel free to follow up with these past clients to see how they feel about your attorney.

Get to know if your attorney has conflicts of interest before you go into a closing with them. If they’re associated with the local home builder or the person selling you the house, they could be violating ethical standards. Even if you found them in an organic way, they should be open and communicative about their connection to your architect or sales broker.

6. Read Up

An increasing number of real estate attorneys now run their own law blogs. See if your attorney has one where you can learn more about their overall philosophy.

Also, see if there are any mentions of your attorney in the local papers. See how he’s perceived by people who have interacted with him in the past.

If your attorney runs ads, make sure they seem reasonable and tasteful to you. If they’re advertising work they’ve done or properties they’ve sold, follow up to see if that’s true.

While your attorney may have been great on the phone, they might not be as friendly when you’re sitting down next to them at the closing.

7. Sign The Dotted Line

Once you’ve picked out your real estate attorney, get to know the details of your engagement letter. This letter, also known as a retainer agreement, should spell out what you can expect from them.

It should also contain a schedule of fees. If you’ve picked a great attorney, they’ll make sure you understand everything in the agreement before you sign.

If you’re still wondering “how much does a real estate attorney cost?” by the time you sit down to sign, you should rethink your decision.

A Real Estate Attorney Should Save You Headaches

Your real estate attorney should be able to rescue you from doing irritating paperwork or spending time combing through legal documents. They’ll know which red flags to look for and how to make sure you’re getting a good deal. They’ll also be upfront with you about all of the associated costs.

If you’re considering hiring a real estate attorney for your next investment, check out our guide to the types of investments you could be making.

Having something go wrong in a home is a homeowner’s nightmare, due to the costly repairs. Did you know not all repairs require professional help? It’s easy to fix a lot of things yourself and prevent further damage.

It’s easy to fix a lot of things yourself and prevent further damage. All you need to do is make sure you invest in some recommended tools from Toolsfirst.com and then read on to learn about these 7 DIY home repair tips.

1. Roof

A damaged roof can end up costing you thousands of dollars to repair if you don’t catch it on time. Spotting issues with your roof is more straightforward than learning how to fix a crack foundation.

All you have to do is go on your roof and inspect for damaged, gravel-less, and discolored shingles. Replacing the damaged shingles around skylights, chimneys, and vents will ensure the longevity of your roof.

2. Air Conditioning System

With some DIY home repair and maintenance, you can prevent expensive repairs to your AC unit.

Start by regularly inspecting the condensation hose to make sure the water flows. For your unit not to work extra and use unnecessary energy, keep the screen free of debris.

3. Plumbing

Clogged and leaky pipes are every homeowner’s headache. In the kitchen, fats and oils are the main culprits behind clogs. Try to run the hot water and add a generous amount of dish soap to help break down the fats.

Hair is the main reason why tubs and showers clog. Try to use a strainer to prevent the hair from going into the pipes. Or a drain snake to remove the hairs stuck in the pipes.

4. Paint Touch Ups

If the paint in your house is not what it used to be, it could cost a lot of money to get a professional painter. However, you can avoid this by touching up the paint yourself on the places it needs it. Always have leftover paint, or visit your hardware store to get a match.

5. Washer Machine

If your washer leaks, this could lead to water damage in your house. Regularly check the drain hoses to spot leaks, rust, and replace them.

6. Toilets

To avoid calling a plumber, you have a water leak; you should locate the leak and try to repair it yourself. Add a bit of food coloring to the water to the water tank. If the bowl fills with water, then your tank is leaking. You will have to replace the flapper.

7. Refrigerator

It will cost you a lot of money to get a new refrigerator or call the repairman. You should start by checking the door seals on your refrigerator to make sure cold air doesn’t leak out. Since your fridge will waste more energy, it will delay the wear and tear on the internal parts.

Did You Enjoy These DIY Home Repair Tips?

Simple and preventative DIY home repairs can save you thousands of dollars on home repairs in the long run. Head over to this site to see more home repair and DIY projects.

To learn more tips, visit our blog.

If you’re moving — should you stay local or move abroad? Click here to find out!

If your home has seen better days and you’re ready to move to greener pastures, then you need to make sure that you take the appropriate steps when doing so. It’s not a process that should be rushed. Moving between homes is costly, and the whole thing will be made even more expensive if you don’t take the time to do your research and make rational decisions. There’s a lot of planning to be done before you divest your existing property, so let’s talk about all of that before you make any rash decisions. These are the crucial steps you need to take when moving home.

Buying and selling properties

You need to think about selling your existing property, first of all. As mentioned in the introduction, moving between homes is a costly venture. You need all the money you can get, and that’s why it’s important not to waste the opportunity to sell the most valuable asset you own: your house. Selling it in its existing state may be a bad move if it most likely looks “lived in.”

Your goal is to raise the value of your home so that it sells for as much money as possible, and you need to do that by making some improvements. As you pack up your belongings, you’ll strip the place of its “lived in” feel, but you should also freshen up the aesthetic; painting the walls, fixing any broken amenities, and other DIY improvements could make a massive difference to the offers you get from potential buyers.

Still, selling your existing property is only part of the process. You need to think about the type of property you’re going to buy. Location is a big factor to consider, but that may have already been decided for you if you’re moving for a new job or a better school for the kids. The most important thing is that you’ve considered the price range of the type of house you’ll be looking for (and how this compares to the price at which you’ll be selling your existing property).

If you’re going to all the effort of moving home, however, then you should do it properly. You might want to research luxury homes such as The Quaye at Wellington if you’re wondering where to begin your search. Of course, you should make sure you’re entirely convinced by your choice regarding your new home before you fully commit to selling the old one.

Clearing out your house

One of the most significant steps involved with moving between homes is clearing out your possessions. Before you start putting everything into boxes, however, you should consider whether you want to keep everything. This could be a chance to declutter and avoid bringing some of that mess with you to your new home. It’s a chance for a fresh start. Think of it this way: the fewer belongings you have to pack, the cheaper the quote will be that you get from movers. And that’s a big part of the move to consider.

You need to not only ensure that you’re getting a reasonable price when you hire movers but that you’re hiring the most professional company in your area to do so. Moving between houses is already an overwhelming process, and you don’t want to make it worse by hiring an unprofessional team to help you. Your worldly possessions are valuable.

Preparing for moving day

Time is a significant factor when it comes to moving. And there’s nothing more stressful than getting to your new home only to find that all of your essentials are scattered across the boxes you loaded into the moving van; not to mention the fact that the moving van might arrive at the house later than you. When you’re moving home, making sure you get rid of any useless objects is so important. Why not hire a skip like skip hire basildon to get rid of all of your useless furniture, and other objects you no longer want.

It’s so important to pack necessities such as toiletries and clothes in a rucksack and suitcases that you keep on your person because you don’t want to have to rummage through boxes when you’ve just arrived at your new home. Be prepared for moving day so that there’s as little stress as possible.  You may have to move out of your house before moving into your new home; this is an incredibly stressful experience so make sure you have a backup plan such as being able to rent a guardian home.

We’ve all seen those TV programs such as A Place in the Sun: Home or Away, where we watch families ponder on whether they should stay in their beloved town or instead take the leap into a new country. It’s easy to sit and shout “move abroad!” when watching these shows, however, if the opportunity arose, what would you do? There are several factors to consider when moving abroad, such as will you need a VISA, will your E111 renewal be valid, and so much more! If you’re in this situation, and you’re unsure about whether you should stay local or jump across borders, we have the answers for you here.

Staying Local

Financial Stability – Moving locally can put a strain on your finances at the best of times, so you can only imagine the budgeting and financial planning that goes into moving abroad. Unless you’re moving on the basis of receiving a new job opportunity, it can take weeks, even months, to find a job that will support you financially, which can have a severe impact on your moving abroad experience. Particularly for younger couples, or for those who already have jobs that only just pay the bills, we would suggest moving locally instead, as this will give you the stability and reassurance that you need to keep you on your feet.

Staying With Family – This can be a particularly difficult one for many, as moving abroad means that you limit the amount of time that you can spend with your family, especially when moving halfway across the globe. Before making the final decision to move abroad, you need to seriously consider the impact it will have on your family life. Can you really cope with not seeing your parents for months, or possibly years, at a time?

If your family is something that means a lot to you, we would certainly disregard moving abroad. As amazing as the experience can be, your family means much more to you than some new surroundings. And while you are at it, this transition would be a good time to do some estate planning for the future.

Moving Abroad

Personal Growth – If you’re young and you’re moving abroad to fulfill your career or perhaps for university, you’ll have the opportunity to grow as a person and develop an entirely new skill set. Being thrown into new situations will scare you at first, but once you’ve finally tackled them and straightened out the creases, you’ll be able to enjoy life abroad and properly appreciate the independence of moving overseas. After living in the same country for almost your entire life, you’ll be exposed to a completely new culture, allowing you to experience emotional, physical and personal growth, more so than if you were to remain local.

Job Opportunities – Many people don’t just move abroad because they feel like it, but instead do so in order to fulfill the career of their dreams. Of course, before making the leap, you need to ask yourself whether this new job will be secure and sustainable for living life out in that country, but once you’re sure of this, you’ll be having the time of your life by moving abroad. Not everyone is able to lead a career that they utterly adore, so we recommend that you grab the opportunity with both hands and go for it!

Moving abroad really can be rewarding, and there are many benefits that come with it, but it really isn’t for everyone. If you enjoy feeling secure and firmly within your comfort zone, there’s nothing shameful about staying close to home when moving. However, for the risk-takers among you, who are starving for some adventure, never shy away from an international move!

Don’t we all dream of waking to a sea view? What could be better for the relaxed lifestyle we all want and deserve? Imagine, opening your curtains and seeing the calm current, sweeping your worries away. After a stressful day at work, you could head out for a swim to clear yourself. However you want to make the most of it, a life like that is the dream.

But, with a dream comes a price tag, and there’s no getting around the fact that waterfront properties are sure to set you back. Hence why most of us settle far from the sea, and only head there when the sun is shining. In reality, though, there’s no reason the imagined costs should keep us from living the sea-based life. In fact, there’s no reason this can’t be an option for you. Here are a few ways you could make it happen.

Buy an apartment or condo

You may want a whole house to your name. And, anywhere else, you could probably get it. But, beachfront properties cost more than most. As such, it may be worth considering alternatives. By purchasing an apartment or condo, you may find your finances stretch to a beach-based home with ease. Admittedly, this will set you back about the same as a house would elsewhere, but it may be a compromise you’d need to make. You can find a condo here or search for apartments online to see whether this a possibility. If you’re not willing to make the sacrifice, it may be that the beach life doesn’t mean as much to you as you thought. That’s fine, too. At least you can say you gave it a shot!

Split your space

Another fantastic way to afford the beach life is to split your space. This won’t help you with your upfront costs. But, it can help you pay your mortgage. By setting aside a room as either a permanent, or holiday rental, you’ll at least be able to subsidize your earnings. With this in mind, you may feel more comfortable taking out a larger mortgage than you would have otherwise. Suddenly, houses which weren’t in your price range could become a possibility this way.

Consider your options

It’s also worth mentioning that not all beaches are tourist traps. And, the ones which are most popular are sure to cost you more. One way around that may be to look at beaches a little less in the mainstream. There are plenty of coastal areas which are sure to be much more affordable. And, all you need to do to find them is research. Drive around the coasts a little and get an idea of destinations, then research online. With a bit of luck, you’ll stumble across the affordable seaside town you never even knew existed. Equally, moving further inland can slash costs. It may not be what you’d imagined, but you’ll likely still have sea views. And, the beach will still be a short walk away!

When you want to invest a large chunk of money, a property is one of the best places to put your cash. The problem for most people is that they have no idea where to start when it comes to property investment. It is an absolute minefield and it’s always wise to learn about the varying options that are available before you start trawling the internet looking for the best places to put your cash.

There are two main types of property investments that are popular: buying a property to sell it on after doing it up and buying to rent out and generate a regular and secure income.  There are many different types of property out there that you can do either of these with, and you can choose to do it with commercial property, residential property, and even ranches. You can visit RMABrokers.com for more on that last one! Each of the types of property investment has its merits, and it’s going to come down to what you hope to have from your investment property which will dictate which way that you go with your investment. There are different pros and cons for buy to sell and buy to let, and you need to get as much insight as possible before you make the choice.

Buy-To-Rent

This is a pretty common way to invest in property, as the idea is that you have a passive income with a tangible asset that you could sell on at a much later date. Investing to let means you will be renting your property out to tenants. You could choose to screen these yourself, or you could hire a management company to vet and bring in tenants for you. The biggest pros of the buy to let property is having a regular income and making more cash. A passive income can come in many ways, but if you have it in the form of a property, you will always have an income as long as you have a tenant. Always keep on top of tenancy agreements, though, as you would need to replace a tenant each time one leaves. That is, however, the beauty of a property management company as they can keep your tenancies going.

When you make a profit every month, you’re going to end up breaking even on your property investment eventually. When it comes to making money, a property is the most secure way to go. Once you break even, you could invest in another property and start the entire cycle again. As long as you have tenants, you will always have a way to buy property after property.

The cons of buy to let come with being a landlord and the additional expense when you have to pay out for estate agency fees and listings. Being a landlord is a tough job, and you have to spend time and energy managing a property from a distance. You are the person responsible for repairs and doing those repairs in a timely manner. This can get stressful and it’s why there’s a downside to buy to let. The profit margin that you set for yourself can be down when you pay out for estate agencies, plumbers, electricians, and the taxman!

Buy-To-Sell

Think about Monopoly. You start the board in the poorest area and wind up in the most expensive. When you buy property in the poorest area, you play the game to collect rent or sell it on to buy new property. Once you buy and renovate a property, you can sell it on for a profit which allows you to buy further properties. Once you sell your investment property, it’s no longer yours to manage or collect an income – like Monopoly. The pros for buying property purely to sell it on are mainly the profit and the ability to manage one project at a time. By making a profit with each sale, you can buy more property and use any surplus to bank into savings. This then builds up money for your security in later life and gives you a financial cushion to fall back on. Property prices fluctuate so frequently that you can track the changes and sell at the best time for your property.

The cons with buying to sell come solely with the risks involved. You can never guarantee that you can see a return on the investment that you make. You could lose absolutely every single penny that you spend, and that’s a scary prospect. Getting the right property advice is so important, and you should never enter a sale alone and without guidance. When looking into property investment, knowing the value of your property can be difficult. This commercial property valuation service can really help you. It is also a sensible idea to educate yourself on the ways to accumulate finances. Once you have found the value of a property, you can begin to investigate the best ways to gather your finances. In addition to this, finding the best ways to get money quickly. Perhaps you are wondering if crowdfunding is legit or if angel investors are the way to go. Getting as much advice at this stage is crucial.

Whether you choose to buy a residential property, a commercial building or you choose to invest in a farm of cows, you need to work out where you want to place your money. Taking advice from mortgage advisors, bank managers, and real estate companies is vital to ensure that you make the correct investment. Usually going for the buy to let route is the best way to have both worlds. You can start by renting out your property and then, later on, decide to sell it. This way you can earn an income throughout your life before having a secure amount of money at the end of it.

Property is a good investment for those looking for long-term security on their money. There are, of course, plenty of ways to invest money. However, property will always be the number one choice for most people. Understanding the risks of demand for rental and property prices fluctuating is important. You can ride out a slow housing market if you are willing to wait of course! If not, then you need to be ready to strike and buy property as soon as the time is right for you. Once you understand the different types of investment, you can make the best decision all around. Put your money where your mouth is and grab your investment with both hands.