Goal Setting
Before you begin any journey you need to know your starting point and your end point destination. Once we have established this we will work together to develop a clear and realistic route for you to reach your goals. Dependent on your requirements we will develop strategic rules for investing and these will be useful to help ensure you keep focussed and on track to your end point goal.
Put simply if you don’t have an endpoint in view, which clear checkpoints so you can realistically assess your progress it is like getting in your car and driving in circles. You may feel you have spent both time and effort only to be frustrated to find you are back where you started!
Treasure Hunting
Once you know your strategy you can go ‘Treasure Hunting’. This involves identifying those areas which will deliver the financial treasures that meet your requirements. Even within a town or city there will be areas which offer greater treasures than others, so success is based on identifying them so you can make quick, timely decisions. I will share with you my proven processes for identify strong investment areas. The more detailed you can be at this stage and the more you know your area, the easier it becomes to act quickly.
Sourcing
Having identified your treasure area we will cover the various routes available to source your properties. We will discuss the advantages and disadvantages of each, so that you can make a factual decision as to which route you choose to be your main route – at least in the initial stages.
In addition, as there are opportunities in the market to purchase Repossessions I will also provide you with a clear understanding of the Repossession Process, so you can plan your strategy and take advantage of the current marketplace (having purchased a considerable number myself)
Financial Analysis
Investment property should be purchased as a business decision and not an emotional decision so being able to analyse a property financially is paramount to your success long term. This is of particular relevance if you are looking to buy Below Market Value and remortgage your money out. Whether you are naturally comfortable with figures or not I will go at your pace and share with you exactly how I analyse all my properties.
As a bonus I will also share with you how I have financially position my ‘hands free’ investment service– useful if you ever wish to set up a similar service in the future.
Adding Value to a Property
We hear the term ‘Below Market Value’ being used everywhere, but it is not only achieved by getting a reduced purchase price, there are other routes to the same destination. I will go through these other routes with you, so you can feel confident you will be able to maximise the potential of every property and really buy Below Market Value, without the necessarily having the discomfort of offering a ridiculously low price to achieve the same result. I will also share my own personal experiences, so in doing so you can avoid the same mistakes I have made.
Mortgage Advice
The mortgage marketplace is still constantly changing and it can be challenging to keep up to speed with the implications for Buy to Let investing. Via my direct link to Alton Mortgages Ltd, you will be able to maximise your understanding of the current mortgage situation and available offerings. By discussing the latest terms under which banks are lending and by knowing your goals we will be able to plan your best financial route.
Refurbishment Advice
It is extremely easy to get carried way on refurbishment costs, and if you watch any of the property TV programmes this is one of the areas you can almost certainly guarantee they will go wrong on. Having completed the refurbishment of 20 houses in the last 17 months I will share with you my basic tried and tested principles, which enable me to keep on plan and in budget 95% of the time!
Refurbishing to your planned budget is a critical skill if you wish to maintain the financial return that you have calculated.
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