If you do not want to be rich, DO NOT READ THIS!
14th December 2017
Sure, this might sound like the promise of a late-night television salesperson trying to get you to attend the latest “free seminar,” but the reality exists: Property is a powerful wealth building tool that has made millions of individuals millionaires.
But where do you start?
Here are 5 quick tips to get started.
1 – Treat it like a business
It is vitally important to treat this as a business. So many property investors have the intention to really make this work, but if you treat this as a hobby, you’ll never gain financially. Hobbies cost money whereas businesses make you money. Diarise your property business by setting time aside, don’t just do it when there is nothing to do.
2 – Find someone who knows more than you do
I was taught that If you’re the smartest person in the room, then you’re in the wrong room. Spend time with people who are already successful in property developing and learn from their successes and more importantly, their mistakes to avoid doing the same. Investing your hard earned money can be a daunting so taking advice from successful investors will give you a great start to your property career and also peace of mind.
3 – Build your power team
There is a long list of possible people with complementary professions that would be great for your power team, and if you are just starting in the real estate industry, these people are the most important to establish a working relationship with. The truth is, trades people WILL let you down, so having people who you can trust to be there when required is key…
These include; Letting agents, Property Solicitor/ Conveyancer, Tradesmen, Property Valuer, Property Coach/Mentor, Accountant, Mortgage Broker, Bridging finance Company, Property Insurance Broker, Tradesmen.
4 – Implement your strategy and investment blueprint
Don’t expect to get rich quick. It’s important to assess all the pros and cons of an investment before jumping in. Property is a long-term game, and if you want to make money from it, never put yourself in a position where you are forced to sell. Property Circles can help you strategize from the offset with a one-one appointment.
5 – Get started
This is the most important thing. So many people think about becoming an investor and before they know it, 5 years has passed and within that same time, they have potentially lost out on thousands of pounds of rental income and equity growth. Do not worry about “what if this doesn’t work’ but instead think… ‘WHAT IF IT DOES!’
Why not learn more on how to get started or how to expand your current property portfolio by attending one of our Property Investor Seminars. Find out when we are next in your local area by visiting our website and clicking on the events diary tab.