How to get rich in property

26th August 2021

By Will Leyland

As we return to a relative normality following an extremely difficult 18 months, an upbeat feeling has been extremely noticeable in the property market. Over the last few months, we’ve seen a huge number of enquiries start to come into us, as more and more people look into the prospect of investment opportunities.

One thing is absolutely true post-pandemic, and that’s that people have a lot of cash that’s been saved up during lockdown. As a result, many are now looking for ways to make that money work for them.

We say, ‘work for them’, because that’s what we see our most successful investors doing - making their money work for them rather than the reverse. We absolutely have some very wealthy clients with us, and most of them have used the property market to achieve that.

When we speak to new prospective clients, many of them are asking us the best way to use property to increase their wealth, and so we’ve decided to put together the best advice by property entrepreneurs in order to help you to achieve your goals.

“The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant.” ― Robert T. Kiyosaki, Rich Dad, Poor Dad

Take a risk, make the first move

If you’ve never invested in property before then, perhaps obviously, you’re going to need to make the first move and take a risk.

Investing in property can feel daunting and risky given that the entry price is high. Quality off-plan property is usually somewhere in the region of the £200k mark, and especially in prime locations such as Manchester, Leeds, Liverpool or Northern Powerhouse areas.

That being said, at some point you’re going to have to make the leap and put your money somewhere relatively safe where it’s making you an income. We have mortgage advisors and really experienced team members that can talk you through your options no matter what deposit you’ve got.

“If you dare nothing, then when the day is over, nothing is all you will have gained.” ― Neil Gaiman

Do your research

If you’re looking to get rich in property, then quite simply you need to do your research and invest in a property that’s going to earn you a rental income and increase in value.

No market offers better capital gains (increase in value) than off-plan property. That’s because you’re buying before the property is completed and, so, usually if this is taking a year or two, you’re going to experience something in the region of a 10% price increase per year before it’s even completed.

For example, the Nationwide property index for UK property year-on-year between May 2020 and May 2021 was 10% nationwide, however, in the North West that was actually 15%. If you purchase an off-plan property in Manchester and those increases stay stable, you could have a property worth 30% more than you paid before it’s even completed.

“Research is seeing what everybody else has seen and thinking what nobody else has thought.” - Albert Szent-Györgyi

Patience is a virtue

One thing that many fail to understand about making money in property is that this is a long game. You’ve probably read some article in the tabloid press about an individual who’s managed to make £10k flipping properties, but this is absolutely the wrong attitude unless you’re willing to take huge risks and put in an awful lot of work.

In property you should be prepared to hold a property for a minimum of 5 years to gain the maximum out of it. If you sell too quickly you risk losing out.

Furthermore, the longer you hold a property and allow it to increase in value, the more equity you have as leverage to borrow against in the future. Think of it this way; you buy a £200k property in Manchester, it takes two years to build, and the property increases in value by 30%, taking the value to £260k. Add in any mortgage payments you may have made, and you could have somewhere in the region of £70k in equity to quickly expand your portfolio.

“To lose patience is to lose the battle.” - Mahatma Gandhi

If you’re looking to take the first step into property investment or expand your portfolio, feel free to get in touch with us today to discuss our current available investment opportunities!

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How to get rich in property

26 August 2021

As we return to a relative normality following an extremely difficult 18 months, an upbeat feeling has been extremely noticeable in the property market. Over the last few months, we’ve seen a huge number of enquiries start to come into us, as more and more people look into the prospect of investment opportunities.

One thing is absolutely true post-pandemic, and that’s that people have a lot of cash that’s been saved up during lockdown. As a result, many are now looking for ways to make that money work for them.

We say, ‘work for them’, because that’s what we see our most successful investors doing - making their money work for them rather than the reverse. We absolutely have some very wealthy clients with us, and most of them have used the property market to achieve that.

When we speak to new prospective clients, many of them are asking us the best way to use property to increase their wealth, and so we’ve decided to put together the best advice by property entrepreneurs in order to help you to achieve your goals.

“The single most powerful asset we all have is our mind. If it is trained well, it can create enormous wealth in what seems to be an instant.” ― Robert T. Kiyosaki, Rich Dad, Poor Dad

Take a risk, make the first move

If you’ve never invested in property before then, perhaps obviously, you’re going to need to make the first move and take a risk.

Investing in property can feel daunting and risky given that the entry price is high. Quality off-plan property is usually somewhere in the region of the £200k mark, and especially in prime locations such as Manchester, Leeds, Liverpool or Northern Powerhouse areas.

That being said, at some point you’re going to have to make the leap and put your money somewhere relatively safe where it’s making you an income. We have mortgage advisors and really experienced team members that can talk you through your options no matter what deposit you’ve got.

“If you dare nothing, then when the day is over, nothing is all you will have gained.” ― Neil Gaiman

Do your research

If you’re looking to get rich in property, then quite simply you need to do your research and invest in a property that’s going to earn you a rental income and increase in value.

No market offers better capital gains (increase in value) than off-plan property. That’s because you’re buying before the property is completed and, so, usually if this is taking a year or two, you’re going to experience something in the region of a 10% price increase per year before it’s even completed.

For example, the Nationwide property index for UK property year-on-year between May 2020 and May 2021 was 10% nationwide, however, in the North West that was actually 15%. If you purchase an off-plan property in Manchester and those increases stay stable, you could have a property worth 30% more than you paid before it’s even completed.

“Research is seeing what everybody else has seen and thinking what nobody else has thought.” - Albert Szent-Györgyi

Patience is a virtue

One thing that many fail to understand about making money in property is that this is a long game. You’ve probably read some article in the tabloid press about an individual who’s managed to make £10k flipping properties, but this is absolutely the wrong attitude unless you’re willing to take huge risks and put in an awful lot of work.

In property you should be prepared to hold a property for a minimum of 5 years to gain the maximum out of it. If you sell too quickly you risk losing out.

Furthermore, the longer you hold a property and allow it to increase in value, the more equity you have as leverage to borrow against in the future. Think of it this way; you buy a £200k property in Manchester, it takes two years to build, and the property increases in value by 30%, taking the value to £260k. Add in any mortgage payments you may have made, and you could have somewhere in the region of £70k in equity to quickly expand your portfolio.

“To lose patience is to lose the battle.” - Mahatma Gandhi

If you’re looking to take the first step into property investment or expand your portfolio, feel free to get in touch with us today to discuss our current available investment opportunities!

Will Leyland

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