So why property? You run a successful business, you’re an expert in your field and most(!) of the time you’re happy!
You may have friends and family who are property investors, and you may have seen them talking about the benefits of property investing – but why should you start and where do you start?
Common barriers in business owners’ minds are:
- I don’t have the money.
- I don’t have the time
- I don’t know where to start
So, let’s answer some questions and answer those concerns.
What’s an investment property?
Investment properties, residential or commercial, are purchased to generate rental income for the owner and hopefully capital growth for the future.
Several considerations, such as the property’s location, current condition, and potential for improvement, selling or tenanting must be considered when evaluating a property as an investment opportunity.
So, why should I invest in property?
A second source of income
During the pandemic, when our print business suffered terribly, the property income that we had kept us afloat! Property can be one of your multiple streams of income and can help achieve an early retirement from your business.
A store of wealth
Cash generated by your business can often be eroded due to inflation. Property prices have consistently risen over time and therefore your surplus cash invested in property will increase in value over time.
Leaving behind a legacy
A property portfolio is a fantastic asset to leave to your family.
Helping the community
Providing a safe and comfortable home to a vast range of people, from students to professionals and from residential to commercial tenants is extremely rewarding and serves a much-needed national requirement.
But what about my concerns?
1/ I don’t have the money!
This is a common concern. Remember, to start off, you usually need 30% of the total property price – the rest can be leveraged with a buy to let mortgage.
But raising cash is always an objective of a property investor and often family and friends are a reliable source of funds to get you started.
There are lots of tips on how to raise investment in our previous blog.
2/ I don’t have the time
This is a reason that stops us from doing many things. However, if the above listed benefits of property investing are strong enough for you to start, you will make the time. A large part of the training we offer involves creating systems and processes for your existing and your property business to make sure you create the time you need to achieve your objectives.
And if you’re really struggling for time, we can do it all for you!
3/ I don’t know where to start!
Reading property news, watching YouTube videos, and joining property networking groups is a great place to start. Property communities online and in person can be extremely helpful and openly share lots of information.
And don’t forget, we have a 12-month programme that takes you step by step through the basics of property investing from formulating a plan, doing your research, buying, and tenanting your first property!
Want to learn more about investing in property? Contact me today for a chat.