Perren Property Peek of the Week –
Any one for cake?
If your thinking about becoming a landlord, now could be a good time to build your portfolio. The demand for rental properties is still as strong as ever.
But building a good portfolio takes time and a lot of research. There are many decisions to make when choosing a property. The location is one of the most important factors. When looking at an investment you want to be nearby schools, transport, hospitals and universities. The size of the property is also important. It will affect the purchase price and current rental income. Speak to local letting agents in the area to find out what type of property has the highest demand.
If you buy a property that needs work you need to consider the cost of bringing it up to standards. Rental properties need to be in good condition to meet regulations and standards. However if you choose to refurbish a property yourself, remember time is money. You do not want to spend too long getting your property ready. You will still need to pay the mortgage whether you have tenants or not. You may want to hire some one to take care and manage the works for you, if you are busy. This may cost you at first but will save you money in the future. The works will be carried out smoothly, efficiently and in the best possible time.
When the property is ready to let always use a letting agent. This will save you a lot of hassle. Letting agents will give you the best local market advice and good agents will understand how to attract the best sort of tenant for your property.
My top tip - always invest in a good letting agent to manage your property. This will free up your time to find your next investment.
If your thinking of becoming a landlord or looking to expand your portfolio then lets meet for a cuppa (I’ll even bring some cake!) I can show you my system and strategy to grow your portfolio.
Please call me on 07794056668 for the fastest response.