Tips for a novice property investor
Taking your first steps into property investment can be an incredibly daunting process, which is why we’ve outlined some key property investor tips for novices to follow.
The obligatory legal particulars can seem convoluted, the amount of time it takes for a return puts off many and the risk of losing your life savings is frightening. However, if done properly with the right preparation, getting into property investment can be a relatively straightforward and exciting adventure.
Here are The House Crowdâ€™s key property investor tips to help you make your first forays into property investment a success:
-Â Â Â Â Â Â Â Â Â It is important to understand that property investment is a business, not a hobby. You need to be prepared for long hours of research, negotiation and, sometimes, disappointment. Going it alone can provide fantastic returns for some, but only those with a committed business mentality.
-Â Â Â Â Â Â Â Â Â Property investment is truly a long-term investment and accepting that there may be times when your outlay exceeds your investment income is part and parcel of the process. Be prepared for unforeseen circumstances, such as property repairs, which can affect the time it takes to see decent returns.
-Â Â Â Â Â Â Â Â Â Beginning your adventure with a small project is advisable. Itâ€™s easy to get carried away if you fall in love with a property (remember, you wonâ€™t be living there, this is business!) and bite off more than you can chew without knowing if youâ€™re cut out for property investment. There will be plenty of opportunities for tackling big projects once you have gained some experience â€“ though you, like many, may learn that smaller projects can actually offer better rewards!
Remember, with The House Crowd you get a very good return on your money and need do nothing at all. You have no mortgage payments, no bills, no void periods, no tenant problems, no maintenance or repair issues to worry about. And, of course, you can spread your money over as many different properties as you like rather than putting all of your eggs in one basket!
The House Crowd is a brand new concept in property investment which allows people to invest small amounts via crowdfunding (for more information on the process, visit www.http://thehousecrowd.com/thehousecrowd//how-it-works/). We are committed to breathing life into empty, rundown properties whilst giving investors great returns on their investments (for more information about us, visit www.http://thehousecrowd.com/thehousecrowd//about/our-manifesto/). If youâ€™ve read enough and want to invest now, visit www.http://thehousecrowd.com/thehousecrowd//invest-in-property/).