Investing in property can be a tricky time, as there’s lots to understand. Here at We Buy Any House we have compiled a small guide on how to invest in property.
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Why do People Invest in Property?
The concept of investing in property has become increasingly popular over the last decade or so, with people looking at investing in property as a way to fund their lifestyle instead of choosing a typical ‘9-5’ job. Here are some of the main reasons people choose to invest in property:
- To use as rental income. This is especially useful for those who are self-employed, retired or those who have a predictable income which they aren’t satisfied with. Having a rental income gives them more freedom to be financially independent.
- If they are trying to build a diverse portfolio for their business, then investing in property is a great way to achieve this.
- They may invest in property to improve their capital growth, as property prices often rise which can be beneficial for investors.
- The property market is extremely tangible, so therefore it’s easy to understand how it works and where you can gain or potentially lose leads.
How to Begin:
Think About Renting a Room Out:
To get a small taste for property investment, a great place to start is by renting out a room in your home. By making part of your home to work like an Airbnb, you can see the various things that go into being a property investor and manager.
Look at REIGs:
A great place to start is by investing in Real Estate Investment Groups (REIGs), which is ideal for those who want to own real estate in the rental market- and without the hassle of running your own real estate company. Collectively, a group of people manage the units of for example, an apartment complex- and in exchange for looking after the management of a building, the company will take a percentage of the monthly rent.
Flipping Investment Properties:
Another great place to begin your property investment journey is to begin by flipping houses. If you can find a cheap property that is in need of some TLC, you could begin doing a renovation on it, and redecorate the entire place and see how it sells on the property market. This would be a great way to see how you get on with a renovation strategy, coming up with an interior design idea and marketing the property.
Rent Out a Rented Property:
Renting out a property by yourself can seem ridiculously hard, therefore, renting out a property and delegating the other remaining bedrooms to others who want to live there is a great way to get your foot in the investor door. Firstly, it means that you are essentially occupying an investment property and will help you build up enough credit to qualify for a loan.
This article was written by a quick house sale company We Buy Any House. If you’re wondering “how can I sell my house fast?” or “how can I get someone to buy my house?”, head to the We Buy Any House website for more information relating to all property related enquiries