You’ve decided to invest a property. Great! I’m sure you have an ideal image in your mind about your perfect home/investment, and I’m sure you can visualise exactly what you are looking for.
Without putting a dampener on your dreams (after all, dreams and goals help us work towards achieving our desired result), there are a few things you will need to keep in mind, the main one being finances.
Too often, I’ve seen investors look the price of the property, and excitedly calculate their annual yield from the rental monies they could potentially achieve on the property. This is a great start. Unfortunately, if it was this easy to work out, every investor in the world would be rich and owners of multiple homes.
There’s solicitors fees, agent’s fees, tax, keeping an amount of money as an emergency fund should something go wrong, along with all the other costs involved in purchasing a property. Suddenly, the yield you have calculated seems to be dropping with every calculation.
I advise that you should look for properties that can give you a pre-tax yield of between 4-6% annually. It’s difficult to find, but not impossible. The next thing you should work out is every single cost. Granted, it’s difficult to work out exact figures but it’s good to have a rough idea of what you will end up with.
If you would like, I can generate a report for you breaking down potential costs. All you need to provide me with are the following:
– Price of property
– Estimated rental price per week
I will provide it for FREE. No incentives. No catches. I want to help you make an informed decision and I ask for nothing in return.
Simply fill in the form below with the information required and I will get this sent over to you as soon as possible. The picture above gives a snapshot of what the report will look like, but trust me, there’s so much more to consider, which you will be able to see once you have requested a report.
Please keep in mind, and I cannot stress this enough, the figures I send to you are a rough guide, and not to be taken as the exact amount you can expect. The property market has ups and downs so use them as a guide.