You will have heard the term ‘due diligence’ a lot when it comes to property. But, what does this actually mean when it comes to buying an investment property? You want to really understand what your money is going into. You want to know the area. You want to know what the potential is for capital growth. The important thing, however, is to be thorough.
We get a lot of emails asking for advice on investing in property. Here, Rob Jones answers a few questions that we felt were most useful for a wider audience.
Topics that are covered include how to buy a house without a mortgage, what property growth is like in Manchester, whether £20,000 is enough money to get started, investing in property, what property due diligence means, how to calculate rental demand all the way through to what you can expect as a finders fee when you’re sourcing property for an investor.
If you have any of your own questions then DON’T HESITATE TO GET IN TOUCH!. We’re always happy to help.
For many property developers buying a house without a mortgage may be the only option. This is especially true if you’re over 55 years old. But, don’t worry. There are plenty of other options available. One option is to enter into property joint ventures with other investors. Another is to learn how to leverage the cash you have available. Whatever your situation, there are always many available strategies when it comes to raising finance for property development.
Today we’re looking at how to go about evicting a tenant. It’s never a nice thing to have to do this but sometimes – when they don’t pay rent for months or if they’re causing damage – then you’re left with no choice. Firstly we recommend getting a solicitor or seeking advice from the National Landlords Association but if you’re going to do it yourself then you need to know about the Section 8 Notice to Quit and the Section 21 Eviction Notice.
Buying an investment property in Manchester will give you great returns, but where exactly in the city is it best to invest? Today we’ll be comparing the city centre with the south and asking what the pros and cons are to each area.
It’s no secret that repossessed properties can offer fantastic investment opportunities but finding and buying them can be tricky when compared to other types of property. If you are looking to buy a lot of stock then you should look to LPA receivers. If it’s just one or two you are after then you should look to auctions or to estate agents. However, you are unlikely to be told outright which properties are repossessions so you need to know what to look for.
Property growth in Manchester means that there are a lot of great opportunities for investors of all stripes. But, as with all big cities, those opportunities will vary in nature depending on where in the city they are. South Manchester is a fantastic place to invest if your focus is on capital growth. If, however, your focus is on obtaining monthly cash flow then the South is not so good. Rental yield in the North, West and East can be a lot better.
Today, we’re going to be looking at a two-part question. Is twenty thousand pounds to invest in property enough to get started? Of course. And is investing in leasehold property a good idea? Well, it certainly can be but there are a few things to check before you put in a bid.
Property investing is a location-based business but how can you tell which is the right area in which to invest? Today we’re going to look at what it means for there to be a lot of properties on sale in a given location. Is it a bad sign? It certainly can be. You will need to look at housing density, the length of time properties are on the market, trends in property types and recent price drops. This will tell you a lot about the area your researching.
Today Rob discusses how to go about raising finance for buying an investment property. There is, of course, the traditional method which is through a mortgage but there are other options as well. These include putting together joint ventures and thinking hard about how to use the money you already have. Whatever your situation is there’s a strategy for you.
Rental demand in a given area is a relatively simple thing to calculate yet most property investors skip this essential step. Today Rob talks about how to use Rightmove, Zoopla and SpareRoom.co.uk to identify supply and demand in the location in which you’re looking to invest so that you can be confident that your buy to lets won’t ever stand vacant.