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A Quick Property Investing Guide for Newbies: Everything You Need to Know
Property Investing can seem daunting when you first start researching it.
You’ll need to know everything before getting started, from the meaning of rental yields to the best areas to invest your money.
It’s for this reason we have put together this quick property investing guide for all the beginners and newbies out there who want to get started on their property investment venture.
Keep in mind that you want to be as clued up as possible to truly make sure you’re going to be successful in your property investment journey.
Also remember, not everyone will have the same successes at a similar time.
Do you want a quick breakdown of everything you need to know?
Luckily for you, we have some top tips and tricks for you to keep in mind before investing in property.
Plus, we will cover how to make a success out of your investment, even if you’re only a newbie and haven’t ever invested before.
Do your research
As is the case with many other industries, property investment has a lot to offer.
Whether you’re looking for a full-time income, a steady side hustles, or simply want to reach financial freedom, it’s all possible with investing in property.
However, you have to ensure you’re clued up on everything before jumping into an investment purchase.
Research is the key to success, and it will mean you don’t regret your purchase in years to come, instead of seeing a lot of success through your property.
Take a look at guides, blogs, and podcasts to help you get started.
The RWinvest podcast is a great listen if you aren’t the biggest fan of reading vast amounts of information.
Instead, you can digest it all by listening to two of their investment consultants discuss the different ways you should invest and what to consider before investing.
Choose a high yielding area
This may seem obvious, but it’s something that a lot of investors fail to look into before choosing their investment property.
Rental yields are the return that an investor is likely to achieve through rent on their property. However, some areas have higher-yielding opportunities than others.
Places and areas that are highly in demand for rental accommodation along with those who are undergoing vast regeneration schemes will be the best cities for investment.
Totally Money’s buy to let rental yield map suggests that cities like Liverpool, Sheffield, and Falkirk are all the top cities in the country to encounter high rental returns.
Despite what people think about London is the place to invest, it seems that Northern cities are coming out on top for investors.
Build up your portfolio
After your first successful property investment, you will be eager for more.
There is no doubt that if you are enjoying great returns and earning profits from your property that you will want to reinvest.
After all, the most successful investors are those who continue to reinvest their money whenever they can.
It’s, for this reason, we would recommend building up your portfolio and investing in more buy to let properties.
When you’re making returns, save these up and invest when you have enough extra money for another property.
It’s definitely best to look elsewhere for your investment property though and maybe try to invest in another city or development that looks as though it has good expectations for the future.