Investing in Property in the UK
Investing in the UK makes a lot of sense. It has a strong stable currency, powerful democratic government. The laws regulate and protect everyone, including the landlords!
But how? It is far away. If you make a mistake, it will be in pounds and that’s going to hurt – a lot.
Pick a suburb Based on what?
Do your research How do I even begin?
It is a daunting task, no doubt about it. I highly recommend getting formal training to skill yourself before you embark on this adventure. The more you learn, the more you earn!
The good news is that the same rule applies no matter where in the world. Check the numbers! If the numbers make sense on a property, it is a good investment. But wait…let’s not get ahead of ourselves…
Work through the checklist below to prepare yourself:
Prepare your business plan.
Determine how much lending you qualify for. Contact a mortgage broker. They will assist you based on your credit profile.
Research property investment in the UK. Where are areas of massive growth? What plans are there for new highways? Airports? Ports? Where is industry growing? Where will people need to be living?
Sign up with reputable sourcing agents.
Run the numbers on all the deals sent to you. This will help you determine which areas make sense for your strategy.
I use a template on an excel spreadsheet where I plug the numbers into. It makes it easy to determine the profit on a deal. You can create your own. Or email me for details on the spreadsheet I use on firstname.lastname@example.org.
You will need to consider the following figures:
Professional fees such as surveys
Mortgage broker fees
Add all these amounts to determine the TOTAL INVESTMENT. Then gather this information: