What to Know Before You Buy Your Next Investment Property

What to Know Before You Buy Your Next Investment Property
Investing in property can be very exciting.  It can also be extremely complicated or stunningly simple depending on whom you speak to. What you should know As a special treat and New Year gift to you, I have put together a new report to help you make the best and safest property decisions going forward in 2015. The report is pretty long, so I thought I'd share a few of the 'Top Tips' I reveal as well as a glimpse at the rest of the contents.  To grab your copy, please click here and type in 'Yes please Hazel' into the subject bar and I will forward it to you.
  • Three Letters to Success...
The key reason to invest in the property market (or any investment for that matter) is often critically overlooked and rarely advised. In my experience the most important aspect of investing in property is not the ‘outside decisions’ we make (locality, property type, finance, tenants, etc) but the ‘inside’ decision we make as to just why we are entering this business. The power and significance of this three letter word should not be overlooked or tossed aside as an irrelevance.  My experience demonstrates that the absence of the right why can not only lead to disappointing results, but also to all manner of possible hardships, frustrations and traps. Before you seriously consider buying your next property, no matter if it’s your first or thirtieth, please consider just why you are doing it. The stock answer ‘to make money’ is often an indicator of potentially troubled times ahead. Whilst there is nothing inherently wrong about the desire to make money, it should not, in my opinion (based on years of successfully helping all types of new and experienced investors), be the key reason to risk your time, money and emotional state. Some examples: Which of these potential ‘reasons why’ could apply to you the most? To begin a new exciting businessTo build a secure alternative to a pensionBecause you hate your jobBecause you just love everything about propertyBecause you have an inheritance you wish to invest wiselyYou want greater cash flowYou are looking for ultimate financial freedom These are all really 'good reasons', but let me ask you this... are they the real reasons? What do I mean by this? Well, you'll find out more by asking me for your copy of my full report.
  • Property as a Business
A common mistake for those new to being a landlord is to not think of their venture as a business. Even if you own just one property, this is still of vital importance. Whilst it can be great fun to be involved in property it is absolutely vital to consider not only the whole adventure as a business but to look at each and every property deal as a separate business too. This means looking at the key numbers, keeping accurate records, meeting the appropriate rules and regulations, monitoring contracts and just generally conducting yourself with integrity in a businesslike and professional manner. If you can do this from the outset with each and every deal then the whole will flow far more smoother, helping to eliminate potential frustrations, mix-ups and communication challenges. Yes, property investment can be viewed as a profitable hobby... however we would like to stress approaching it being fun with a serious intent. If you want people to take your venture seriously (there will be times you need to interact with financiers, legal professionals as well as accountants, etc) then the ability to demonstrate your business competency can help you get what you want.
  • I’ve Got a Bad feeling About This...
Before you invest in anything, including a business (and this can be a relationship, fitness regime, life-changing decision etc) then I recommend you always defer to that part of you which, in my opinion, is here to help you make the right decision for you. I find the proper use of intuition, or gut-feeling (as mentioned earlier) can very often assist us in the correct path for us. If you are getting those nagging signals about any situation, decision or environment then you are receiving them for a reason. Whilst it is easy to rely simply on logic to make a choice (especially so when coming to investment numbers, spreadsheet calculations, etc) this can often be just part of the story. Have you ever gone against your intuition or gut-feel? What happened? How did it work out? After speaking with many clients, friends and colleagues I haven’t found a single person who said going against their intuition worked out well. In fact, on many occasions it has caused great regret! So a simple tip based on the hard-nosed experience of clients and ourselves is: follow what feels good and is in alignment with your intuition and avoid anything which just doesn’t resonate or carries nagging concerns. If you have enjoyed what you have read so far and have found the information useful, here's a glimpse at the rest of the contents...
  1. All that glitters is not gold
  2. Hype warning
  3. Too much... too early
  4. She who travels alone
  5. Research
  6. Gasping for air is no reason to proceed
  7. Should avoid bandwagons
  8. A little known secret about locality
To grab your copy of this latest special report "What to Know Before You Buy Your Next Investment Property" by clicking here or alternatively to have it forwarded to you, please click here and enter 'Yes please Hazel' into the subject bar. Here's to a truly successful and profitable 2015. :-) Hazel de Kloe