Amidst the grey, cold and dreary days of winter, it can be easy to remain cosy and comfy in our homes, offices and day-to-day routines. As you'll know if you are already a proactive landlord or property investor, it takes tenacity, focus and action to ensure that you hunt out the property deals which are going to bring in a steady and positive cash flow into your business.
I consistently find that the winter brings many opportunities for those who wish to expand their property portfolios and are willing to make offers on properties which have been left unloved throughout the year.
Particularly with all the changes and uncertainty in the marketplace at the moment, now is a great time to be doing your area research, developing relationships with agents and conducting those all-important property viewings if you wish to benefit from the first mover advantage that is ready and waiting for those who are willing take the plunge.
If you have already been doing this for some time, then this will undoubtedly already ring true for you. If not, then you might not realise that taking action NOW is one of the best moves you could make!
However, if you don't know what those 'moves' are, what then?
One of my business mentors frequently said to me "Resistance is created through a lack of clarity", and to this end, I always aim to help people get clear on their property goals, then make sure their ducks are lined up when it comes to building their property business
. Otherwise, they could end up falling foul of the best way to go about this business which could cost them dearly over time.
Below is a useful list of pointers to help you in your quest to build your portfolio, or get started in property in 2017:
- Speak to a good accountant / tax advisor who can give you sound advice about the best way to structure and 'hold' properties going forward, especially with the changes in landlord taxation coming in this April
- If you are intending to use finance, make sure you speak to a good mortgage broker who can give you the specialist advice you need when raising the right type of finance for your deals
- Choose which strategy you are going to follow this year and ensure it fits with your overall objective
- Learn how to research the areas which will meet your strategy criteria - as soon as you do, you will find many aspects just slot into place
- Develop and nurture all-important relationships, not just with estate and letting agents, but also with your solicitor, builders, trades people and other members of your property team
- Select only properties which you are confident could work for you before going to view them - it will save everybody's time
- Consistently feedback to agents and make carefully considered offers on appropriate properties until one is accepted
- Keep in touch with agents on properties you have offered on, but which weren't accepted
- Have your team in place to act as soon as an offer is accepted so that you can ensure a swift completion
- Be organised and create a system around what you do to make it easier the next time you do it - keeping records and organising your paperwork will make your life much easier over the course of time!
Do YOU Have A Burning Property Question?
From time to time, we all come across a situation where we could really use a little extra help.
So... I'd like to introduce the idea of a regular 'Property Agony Aunt' column in my articles. You can send in your property questions each month, and I will cover a different theme and answer as many question as I can on that topic.
To have YOUR property question answered, feel free to pop a question through to me by clicking on this link
, and I'll do my best to answer you. Please note that your subject may not be covered straight away, depending on how many questions come through, but I will endeavour to answer the most frequently asked first (and please let me know if you prefer to remain anonymous).
You may also like to benefit from my latest 'Golden Rules' report which you can download for FREE by clicking here
Here to help, as always :-)
Hazel de Kloe
Property Investor | Property Mentor | Speaker | Author
The contents of this article are for educational purposes only and we make no recommendation of any particular property purchase. The price of property can decrease as well as increase and you make any investments in property at your own risk.