Newbie Property Investment

stevenrob

I'd like to get into long term property investment.
My question is around initial advice on building my own knowledge. I'm looking to invest, but don't really know where to start. Is anyone else on here focussing on long term property investments?

Are there any particularly good online resources available for learning?

Thanks in advance,

AdrianC

Have you missed a step...?

Why property?
What else do you have in your portfolio?
What percentage of your assets are you looking to invest?
What degree of leverage?

Cakeguts

It is a business you have to do your own research in the area you are interested in.

G_M

Free at the library


https://www.amazon.co.uk/Property-Investment-Beginners-Geek-guide/dp/1484116275


https://www.amazon.co.uk/100-Property-Investment-Tips-accelerate/dp/B0184X560S/ref=sr_1_136?s=books&ie=UTF8&qid=1543331119&sr=1-136&keywords=property+investment


etc

tacpot12

Sorry, I can't point you towards any great online resource, I don't know where they are, but have you watched "Homes under the Hammer"?

Homes under the hammer teaches some important lessons if the business you envisage will focus on buying properties that need refurbishment before being sold or let.

1 Know your market. Know what your target client will pay for the property once you have bought it and done any work to it. Work to a high quality, but not too high. Use Estate Agents and Letting Agents to figure this out what features the target market will really value, and what will make no difference.

2 Know your budget. Know the maximum that you can spend in order to make a profit. Don't spend more than that. This takes practice, and you will only learn the self-discipline needed once you get into the business. Make sure you have enough money to complete each project and to survive until the project can be sold or let.

3 Only do renovation work yourself if you can do it like a professional. Time is money, and doing work slowly or to a low quality will hurt you financially. Ideally, you will find a good contractor for each trade, and programme them into your renovations with six months notice as this is the sort of notice that good trades people will need.

But refurb/renovation is not the only business. You could buy properties that need no renovation work, but provide an immediate income. Properties are often sold with sitting tenants. You could just buy these properties and manage them. Tenants generally want nothing more from their landlord than a prompt repair service. Properties that allow pets are in demand and tenants will pay a premium for them. Such tenants tend to stay longer and look after the property better.

Hope this helps.

AdrianC

If Homes under the Hammer teaches anybody anything, it should be "Don't regard daytime TV as a business tutorial"... (The Apprentice isn't an MBA course, either.)

agrinnall

Are you looking to invest by buying property, or invest in funds that specialise in property? It's an important distinction, and the responses will be very different depending on your answer.

AnotherJoe

AdrianC wrote: »

If Homes under the Hammer teaches anybody anything, it should be "Don't regard daytime TV as a business tutorial"... (The Apprentice isn't an MBA course, either.)

I disagree, I think HUTH can be very educational. If you take the time to look at many of the outcomes especially where people have done the renovations themselves , and factor in the time spent and materials cost, and the tax they will have to pay if there's a profit they would have made more money with less stress, by shelf stacking at Tescos. So, well worth watching

eddddy

AnotherJoe wrote: »

I disagree, I think HUTH can be very educational. If you take the time to look at many of the outcomes especially where people have done the renovations themselves , and factor in the time spent and materials cost, and the tax they will have to pay if there's a profit they would have made more money with less stress, by shelf stacking at Tescos. So, well worth watching

It's also worth remembering that it's only the (relatively) successful ones that appear on the show.

The people who make a complete b*lls up (overpaying for a bad property, messing up the renovation, losing wads of money, etc) won't agree to go on telly to tell their story, so that everyone can laugh at them.