Lesson 79: What do experienced property investors do, that makes them successful? They know you need to make your profit when you buy. Buy discounted, and lock in the value with that initial purchase price. Know your yields and stick to your rules – aim for 10% and above yield on a single let and significantly higher for a multi let. Have a deal analyzer, and analyze numbers with a contingency for additional unforeseen costs. Always have a couple of exit routes, in case your planned route does not work out. • Can it be refinanced to pull all or most of your money back out? • Can the property be rented as a single let? • Rented as a mult let?, and • Can it be sold at a profit? Analysis is good – essential in fact – but do not get cold feet and not act. All investors get ‘Investor Wobble’ early on – deal with it, have a cup of tea and crack on! This is how fortunes are made. If you would like more information of how I could help your property investing journey, consider joining our Group Mentoring Programme. It is a year long programme, working with me for that year on key property topics that you need to master to become a successful property investor. Call the office on 0117 942 8914 to book register your interest. See what Adrianna, Prakash and Tiffany all have to say on their experiences so far. ow.ly/yl92z
Posted on: Fri, 28 Nov 2014 14:27:59 +0000
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