Property investment continues to be one of the most popular and profitable ways to invest money in the UK.
Although buying an investment property is a relatively straightforward, process providing you have the financial means, securing the best property investment deals on the market can be a little more challenging.
To find investment opportunities that align with both your goals and your budget, you will need a clear strategy.
In this article, we will provide tips and advice to help you source profitable property investment deals, whether you’re a seasoned investor or just starting out.
Seven tips for sourcing lucrative property investment deals
- Have a strategy
To source the most profitable property investment deals, you’ll need a solid strategy. Before you even begin your search for a property to invest in, you need to sit down and take some time to decide what your goals are and how you are going to achieve them. Having a clear strategy will help to narrow down and focus your search when sourcing an investment property. It will also keep your search consistent, minimise risk, improve your decision-making, and ultimately, the long-term success of your investment.
- Research your target market
During the planning stage, you need to decide the type of property you want to invest in and the type of tenant that would live there. Are you hoping to rent to families? Couples? Young professionals? Students? Once you know the type of tenant you want to work with, you should conduct thorough research to gain a good understanding of who your target demographic is and what their needs are. This information will help you source the right type of property in the right location to maximise the profitability of your investment.
- Use a professional property investment service
Once you’re clear on what it is you’re looking for and how you’re going to do it, it’s time to start sourcing properties that align with your criteria. The property market moves fast, and without the right contacts and resources, you will struggle to source the most lucrative investment deals and sourcing the right property is crucial to your investment’s long-term success. When you use professional property investment services to help you source the right investment property, you receive expertise, experience, resources, and opportunities that you might not have otherwise had access to.
Here at Mistoria Group, we offer a full range of services to help you succeed. From help with sourcing the right property, to ensuring regulatory compliance, our team of experts has a wealth of experience behind it, and our services are designed to make your property investment as straightforward and successful as possible.
To find out about new opportunities as soon as they arise and stay ahead of other investors, you’ll need to network with a property investment company or estate agent in the area where you’d like to buy. By developing relationships with the appropriate people and keeping in touch with them, you’ll be able to find out about new investment opportunities first, sometimes before they even go onto the market.
- Crunch the numbers
If an investment opportunity comes up, be sure to analyse the numbers before you make a move. Important financial factors to consider when determining the potential of an investment property include the purchase price, estimated rental yield, operating expenses, financing costs, the potential for appreciation or depreciation, and return on investment.
- Carry out due diligence
Conducting due diligence can help to give you peace of mind that you are investing your money wisely when sourcing an investment property.
If there are any nasty surprises to reveal, or anything that doesn’t quite add up with the property, then this is when they should be revealed! Some steps to take when carrying out due diligence include:
- Research the local area
- Calculate rental demand
- Check the property’s sales history
- Check typical rental yields in the area
- Examine the home report
- Obtain safety certificates
- View the property.
- Act fast
Once you’ve crunched the numbers and done your due diligence, if you think you’ve found a property that ticks all the boxes, then don’t hesitate! The property market moves quickly, so any delay could result in a missed opportunity.
Here at Mistoria Group, we are proud to be one of the leading property investment companies in the North West of England.
To find out more about how our team of experts can help you to source a high-yield property investment, give our offices a call on 0800 500 3015 or send an email to firstname.lastname@example.org