#SaturdayShare — 10 STEPS TO INVESTING IN PROPERTY HANDSFREE

Hi everyone, hope you’ve had a fantastic week. In this article, you will find useful information, tips and guidance around investing in property in the UK, and business. Here’s what I want to share this week:

10 Steps to Investing in Property completely Hands-free

In my last article, I briefly shared with you the 10 steps on how you can get involved in property investment completely hands-free. Detailed below is a breakdown of those 10 steps.

Step 1: Identify your goals

Whether this is your first investment or 25th, it’s always worth reflecting on your long term goals and what you are looking to achieve as a result of the investment. Is it cash-flow? Is it passive income? Is it higher lump sum returns? Or is it to retire early and create a legacy for your family? Whatever those goals look like may drive your short, medium and long term wealth building strategy.

Step 2: Decide on your strategy

Depending on your goals, your may choose to invest in Buy-to-Let’s (rented by a family or an individual), Houses of multiple Occupancy HMO’s or a Multi-let (where 3 or more unrelated people would rent the property by the room), or it could also be Buy-to-Sell (or Flip) opportunities for lump-sum cash returns.

Step 3: Identify the area of investment

Many investor’s in London choose to invest in the Midlands and North in order to get better returns on investment. If you are unsure about the area, make a list of 3 other potential area’s of interest to explore further and speak to local letting agents to understand rental demands within those areas.

Step 4: Speak to a Property Trader at professional property investment company such as PropertyWiser

Property Traders in your desired investment area will know the area well through their market research. It’s important to understand which area’s to invest in, area’s of regeneration, knowledge of the council local plan (indicates where the city is planned for growth).

Step 5: Get to know the Property Trader

By arranging a 1 to 1 meeting with the Property Trader, you will understand how they can add value to you and your goals. It’s important you can resonate well with the individual and someone you can build a long term relationship with. Ensure the property trader is compliant by being registered under a limited company, registered with a trusted property redress scheme and has appropriate insurances in place.

Step 6: Agree your investment criteria

Once you have had your discussion with the property trader, it’s time to agree your investment criteria, so an appropriate investment opportunity can be found. Typically at this stage investor’s would provide a deposit as part of the investor qualification process along with some proof of funds and proof of id. Professional Property Trader’s will request this information as part of their compliance process.

Step 7: Sit tight and wait

At this point, the process sit’s with the property trader to go ahead and find those investment opportunities.

Step 8: Legals, Exchange and Completion

Once the investment opportunity has been found, the property trader will assist with accelerating the legals process to get the property through to exchange and completion.

Step 9: Refurb

The property trader will arrange to pick up the keys, and start engaging with the local trades to start the property refurbishment process. Certain properties may require additional planning and involvement from architects.

Step 10: Property Listed & Tenanted

During the last stage, as the property comes close to being ready after the refurbishment, the property trader will engage local trusted letting agents to start the process of getting the property listed and tenanted to minimise the amount of time the property remains vacant.

To summarise, you should now have an overview and understanding of how you can get started with investing in property completely hands-free giving you the choice to spend more time with your family, travel, or anything else. This guide is designed to give you the confidence in choosing us to help you build a portfolio of properties whether it’s your first one or the 20th.

Whilst the overall trend for property price remains upwards, the current market provides a unique opportunity in itself and is an ideal time for investors to take advantage of the market.

If you would like to get involved or know someone that would benefit from our service, please contact me for a friendly unbiased discussion.

I hope this has been an interesting read. Let me know your thoughts and comments below. If you have any questions, please feel free to contact me.

Have a phenomenal day and week ahead!

Thank you for reading.

Manit