10 Common Property Investment Mistakes New Investors Make In Today's Buy To Let UK Property Market скачать в хорошем качестве

10 Common Property Investment Mistakes New Investors Make In Today's Buy To Let UK Property Market

Today let me share the 10 BIGGEST Property Investing Mistakes that new property investors tend to make when just starting out. Investing in buy to let uk based property investment for beginners has its challenges but you don't need to make the same mistakes over and over again and so here are my top 10! DOWNLOAD CHECKLIST... https://yourfirstfourhouses.com/ 1. Not knowing your investment objectives before you start investing. Are you looking for cash flow, long term capital growth or both? You need to decide what your investment objectives are before buying investment property, number one, and you then look for properties that align with that investment objective. 2. Waiting for the perfect property to come along. I am so guilty of this, that's what I started to do when I first started out. 3. Don't become a motivated buyer. By this, what I mean is sometimes people have a lump of money in the bank and they're eager to bu ANYTHING frankly! Having the money in the bank is wonderful, it gives you an opportunity to go out there and take lots of action and find a really good property - THEN do the deal. Don't think that you've got to spend that money TODAY. 4. Letting emotions overrule investment logic. I think that what you should be doing is using investment logic to decide whether you should buy that particular property. What do the numbers look like is the big thing of course. Also, look for other factors as well and I've done videos on this kind of thing. Buy for investment logical reasons rather than emotion. 5. Doing insufficient due diligence. What you should be doing initially is doing loads of due diligence BEFORE jumping in and putting your money on the line. 6. Not getting appropriate financial advice. You should have a competent tax adviser on your power team, together with an Accountant AND "Independent Mortgage Broker 7. Paying too much. Just because an Estate Agent is advertising a property for a certain price DOESN'T mean that's what it's worth! Work out what the deal is actually worth for you - based on your experience. That's what you should be paying and no more. 8. Underestimating refurbishment costs. When you do property number one or two, let's be honest, you're probably going to overpay for some of the refurbishment costs but note down all of the costs, all of your expenses in property number one and two and three. Each time you do that next property, you can go back over those costs and say, "Actually, what did it cost me to build that acoustic wall? What did that on-suite bathroom actually cost me? Let me look back at my figures." 9. Keeping up to date with rent rises. Now, I know that's a bit of an odd one but when you start to build a bit of a portfolio and you've got a few properties and maybe you've had them for a few years, what you'll realise is that sometimes tenants keep very, very quiet because they know they're paying less than the market rent. They don't want to bother you. They might not want to bother you because they're simply lovely people, that's absolutely wonderful, but sometimes tenants look at the market rent around them and they're aware that actually, they're underpaying slightly so they keep very, very quiet. 10. Lastly... Investing for the long term. I personally think lots of people are making short term decisions when they're building their property portfolio. Where I now come from is I look at a property and I think to myself, "Do I actually want to keep that property forever?" If the answer's yes then that's a really big tick in my book and then I will probably be buying that property. LOVE "YOUR FIRST FOUR HOUSES" AND WANT SOME NEXT STEPS?... 1) SUBSCRIBE: for weekly UK property investing tips and tricks! https://goo.gl/qYrehR 2) CHEAT SHEETS: Download your (free) "Property Checklist" and "Refurb Datasheets" https://yourfirstfourhouses.com/ 3) FREE MINI COURSE: Teaches you the 3 strategies that enabled Lianna and I to become financially free through property, starting with very little money https://yourfirstfourhouses.com/minic... 4) BOOK A 121 COACHING CALL: Whether you're new to property, or an old hand, our 45min coaching calls pack a real punch. Click the link to find out more. https://yourfirstfourhouses.com/coach... Here's to your success... Tony Law | Your First Four Houses