Do you want to give up the drudgery of 9-5 and actually live your life?
Do you want to travel around Australia in a motorhome or plant trees in the Amazon forest? Perhaps you want to follow the Grand Prix around the world, or spend six months in Argentina learning how to tango? How about scuba diving off the Great Barrier Reef? Or, simply just having the time and resources to actually live your life how you want to?
Then here is why we and you should invest in Property and how property can free your life and – so you are living the very best version of it.
There is an ever-increasing demand for private rented property. Just over one in five households (20.6%) rent privately, with that figure expected to increase to 22% in 2023 reveals the latest research.
This growth in demand for privately rented homes can be attributed to several different circumstances, including but not limited to:
- a worldwide population explosion
- people are living longer with the amount of one-person households set to increase
- rising house prices mean people are saving for a deposit for longer
- jobs and opportunities – more people are working remotely and don’t want to be tied down with a mortgage; others move to cities to be close to employment and other commercial opportunities, etc.
In a nutshell, tenants need homes – you can provide them and do it in such a way that it frees up your life.
Here are five secrets to creating a successful buy to let business that gives you freedom.
1. Get Great tenants. You do not need to be in your properties to deliver the service. This doesn’t have to be a 24/7 job. In fact, you can outsource as much or as little of this to someone else.
2. Demand is exponential. At the time of writing, we are looming close to the Brexit which, according to the latest figures from the Royal Institute of Chartered Surveyors, is affecting buyers’ confidence in the UK housing market. If you look at the Nationwide House Price Indices, however, you will see that over time, even with uncertainty and recessions and while property values may drop, they always bounce back – and then some.
Most markets mature and go through economic cycles. The demand for property is following the population curve – demand is still high.
3. Automation and systemisation. Small things cause great pains, such as problems with Broadband or lost keys. You can’t expect the unexpected but the secret to FREE your life with property is systems and automations for the expected problems. Document and use property systems like Go Tenant! to do the hard work for you. They have automated processes, a special Tenant App, and can ensure you are a compliant landlord.
4. Create a Power Team. You are only as good as your Team. Build up a good Team behind you, choose reliable, trusted people with a proven track record of delivering, who you can feel comfortable delegating to.
5. Competition. It isn’t easy to compete in a market that has a lot of players. Many landlords have tired houses, and they have low capital to refresh and refurbish. You can stand out from the competition by offering a high-value product backed with a first-class service – particularly in major cities. So, spend that bit more on kitchen fittings, invest in properties that tick a typical renter’s wishlist (such as having a garage, garden etc.) and make the most of your Team and your systems, to provide a seamless service.
These five secrets will help you create a successful, stress-free business that will help you free your life so you will have the time and the resources to really live it.
Want to learn about investing in Property / HMOs?
Join us on one of our courses or phone the office on 01684 368468 to find out if property is for you.