A single buy-to-let property for sale can generate a steady monthly income, not to mention profit from capital growth in the future. However, if you’re looking to make serious money from buying rentable houses, there’s only one way to do it – build a property portfolio.
In most cases, developing an extensive property portfolio can take time, mainly due to lack of available funds. If you’re keen to get going as quickly as possible, though, here are a few tips to help you.
Property Investment Opportunities – Growing Your Property Portfolio
- Always aim to purchase below market value. The best way to make a profit from property is to buy cheap and sell for considerably more. There are a variety of ways you can achieve this. Buying a house at auction is often a shrewd move, and investors save, on average, around 15% off market value. Working with a property investment agent can also yield good results.
- Focus on positive cash flow. When looking for buy-to-let property for sale, search for houses that come with a positive cash flow (i.e. the rental income exceeds any expenses incurred with purchasing / maintaining it). Over time, this will provide you with the equity needed to invest in other UK properties.
- Know the market. A clever property investor always has his or her eye on the market. They’ll know about upcoming areas, locations that are experiencing regeneration or which are about to receive a new transport link. Positive change often causes property prices to rise – and it’s your job to buy before this happens. A great way to get to know the market is to attend a property investment seminar, or talk to a specialist agent.
- Work with a property investment agent. If you’re really serious about investing in UK property, it’s a good idea to work with an expert – namely a property investment agent. They’ll not only be able to help you find suitable properties for your portfolio, they’ll also offer advice about good locations, and assist with purchasing the house at the right price. Once you develop a relationship with your property investment agent, you’ll also benefit from their insider tip-offs when a great house comes to market!
- Choose the right tenants (and create properties to suit them). Rent out a shabby, unloved property, and expect to receive a lower rental income in return! When decorating or renovating the house, think about what would appeal to the tenants you want to attract. Then, when interviewing tenants, make sure you vet them carefully. Ask for references, proof of earning and right to live in the UK. This reduces any risks associated with non-payment etc.
The Buy2Let Shop
If you’re searching for investment properties in the UK, it’s useful to work with a property investment agent, who will help you to find the right house at a price that suits. The Buy2Let Shop are a team of expert property investment agents in the UK, and we’re here to support your UK property investment at every stage of the journey.
To find out more about our services, simply visit The Buy2Let Shop website today.