Every investor faces different challenges. Whether it's increasing the interest earn on their money or finding a new revenue strategy , it can be difficult to achieve success.
However, when it's done right, you can achieve results like enjoying monthly passive rental income and finding properties without having to search the portals yourself .
The best in the game like Progressive Property, Bellway Homes, Purelake Developments and Redrow prepare for these same issues and achieve the results above through efficient planning and preparation.
They say always be prepared - and here is no different! Let's look under the hood at the biggest challenges faced by sophisticated investors both here and across the globe.
having the time to search the property portals
lacking the knowledge to start a property portfolio
lacking the power team to get the house refurbished
seeing the initial capital outlay as a barrier to entry
seeing the long term gains through property investment
Having the time to search the prorperty portals
Do you have time to sit through 100’s of potential properties? If you have yet to find your goldmine area or to be specific on the property type you are looking for your search will be an endless exercise.
Lacking the knowledge to start a property portfoilo
Many people stumble at the first hurdle as they lack the knowledge or education in a specific field. If your primary industry has been outside of property then you would not be expected to be an expert! You can gain knowledge from training, submersing yourself in this arena or finding someone you can team up with.
Lacking the power team to get the house refurbished
Having the best people around you will ensure you can get any tasks completed with the best outcome. You are better in a team with a range of skills and experience then trying to work alone.
“Coming together is a beginning. Keeping together is progress. Working together is success.” Henry Ford
Your power team is no different as you need to reply on the accountant, the builder, the architect, the mortgage broker, the letting agent to do their job so you can concentrate on the activities that drive your business forward. Plus they are probably better at completing these roles than you are.
Seeing the inital capital outlay as a barrier to entry
It is correct to say that to get into the property industry you need capital but this is not the end of the story. If you can bring something to a partnership they the other person does not have then you can get over this barrier. Have you thought about doing a joint venture?
Seeing the long term gains through property investment
If you would like to gain a short term large cash pot or see your monthly bank balance triple in a few weeks then this avenue is not for you. Property prices have slowed in some parts of the UK so the outlook there is for a long term capital gains which you can utilise through remortgages plus know that as the property prices rise you are enjoying monthly rents!
Are you facing any of these problems?
Do these problems resonate with you? Have you faced similar challenges? Why not leave a comment below and join the discussion - we'd love to hear from you!
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