Looking back I’m often struck by how many mistakes I made at the start of my property investment career. If there’s one thing I regret it is not learning more about the industry sooner. Instead I learned by trial and error which, when you’re dealing with houses, is an expensive way to get an education. By my calculations by not taking part in training early on I lost out on seven years and £100,000 cash. This is quite a bold thing to claim but read on and I’ll explain the context.
Avoid getting stung on your next property deal by understanding exactly how property scams work and fraudsters operate in the industry. Today we look at seven different ways that unsuspecting investors can be conned out their hard won capital and also at what it will take to make sure it doesn’t happen to you.
I’m now well passed my tenth year working in property. I’m a property investor, a buy to let landlord, a property mentor and educator. I’m also lucky enough to be a joint venture partner with some fantastically talented individuals. Well, today’s article is about taking stock and trying to pass on some of the key lessons I have learned on my journey so far.
Grow your property portfolio faster and with more confidence by learning about these five valuable skills. Today we look at how you can find the right people for your team, value a property with greater accuracy, find those buyers who need to sell quickly, negotiate like a pro with a vendor or estate agent and develop the right strategies for making sure that any property you own stays profitible.
The foundation to any solid, property investment strategy is going to lie in your ability to source property deals effectively. But, we all know that scouring Rightmove and building your spreadsheets can be very time consuming. Today we look at four alternative ways to source BMV property deals that will help you scale your portfolio much faster.
With the returns on investment they deliver it’s easy to see why houses in multiple occupation (HMOs) have become so popular over the last few years. The demand for affordable housing is increasing exponentially in most large towns and cities and there is currently a lot of pressure on the housing market to supply what’s needed; namely, cheap and flexible living possibilities for a variety of different tenant types.
Save time and money on your next HMO refurbishment project simply by fostering the right kind of relationship with your refurbishment contractor. Communication, of course, is key, as is a detailed schedule of works where each development phase is signed off on completion. Most importantly however you want to be visiting the site when you can. Problems that are identified early on cost a lot less than problems that only become apparent later down the line.
The truth is that not every house is suitable for use as an HMO property. Whether it’s bedrooms or communal spaces, room sizes matter and there is best practice to follow not least of all regarding the fundamental matter of keeping your tenants happy and the property fully habited. So, stop waisting time viewing properties that are not going to work by setting out some rules about exactly what you’re looking for before you start your search.
Let’s face it HMOs are pretty popular these days and that means there’s more competition in the market, prices are higher and deals are harder to find. As ever the way to get the edge on the competition is being able to do your research properly. In today’s video Rob looks at researching an area in-depth according to five criteria. Yield, demand, competition, supply and population.
Government rules for houses of multiple occupation can be a bit of a minefield. Landlords ask us all the time about how they can be sure that they’re meeting HMO regulation head on. The good news is that your local HMO officer is there to help and as simple as it sounds a phone call to your local authority is all it will take to get you on the right track.
Reduce costs and increase your profits as a landlord by making your house of multiple occupancy (HMO) more energy efficient. By just making two small and inexpensive changes to the property you will significantly reduce your utility bills and add to your bottom line. But, it’s not all about the money. These days it’s every landlord’s responsibility to make sure that their properties consume as little energy as possible.