Investing in property is one such opportunity that any entrepreneur can cash in on but, just like any investment, it is key to understand the market, process and opportunities before making an investment.
Investing in property is one such opportunity that any entrepreneur can cash in on but, just like any investment, it is key to understand the market, process and opportunities before making an investment.
Investment location
According to property investor Glenn Armstrong the best to place to invest in property is within the locality of your home or business. Under this scenario this means Walsall, which incidentally fulfills the second requirement for success with over 20k people of working age living within the immediate area.
Further indicators for success include properties that are close to areas of special appeal. These special areas include transportation hubs that are popular with commuters looking to rent a property or near to a supermarket or schools, which will appeal to families.
Property investment opportunities in Walsall.
Creating a return on a property investment can be achieved in a number of different ways. Renovation to some degree will nearly always be involved and ultimately leed to either reselling the property or renting it out.
With this in mind a renovation should be tailored for its end purpose. If the preferred investment return is via rental and targeted at students then these tenants prefer clean rooms with a catering space that encourages social interaction. Professionals prefer properties with modern decor while families prefer an empty property with a blank canvass that they can make their own.
Your renovation should also take into account whether it will be rented to a single individual or family or be used as an HMO (House in Multiple Occupation). HMO’s typically include numerous private bedrooms with shared bathroom, kitchen and living areas and HMO’s have several advantages that make them a safer investment.
These advantages include a higher overall rental income each month and protection against either non payment of rent or an empty room. In both cases the other rooms continue to generate rental income for the investor which is in stark contrast to a complete loss of income on a property rented to one individual or family.
Finding Investors
Whilst it is possible to invest spare capital into property, if the goal is to build a portfolio of rental properties then this capital can soon reach its end. At this point further capital may need to be raised. This can take the form of a buy to let mortgage or by entering into a joint venture with investors from the Ask Glenn Armstrong website.
Investors should be aware of the following costs:
Glenn Armstrong
Glenn Armstrong is a property investor and developer who offers free seminars for like-minded entrepreneurs. Glenn Armstrong has been featured in the Daily Telegraph, Channel 4’s How The Other Half Live and the BBC’s Money Program.
