With certain aspects of property investment you can of course go it alone but why do so when you could benefit from the vast experience of those who have been over the course many times before.Read more in Our Ultimate Guide to Property Investment
A handpicked team of experts can ensure you’re buying the right property in the right area, that you’re set up in the best manner in terms of tax/finances, that you’re borrowing at an effective mortgage, that your purchase is concluded securely and legally, and finally that you’re investment property will be managed efficiently during your ownership.
Even taken in isolation getting just one of these elements wrong can seriously hamper your investment so it’s clear to see the importance of getting the right advice in each individual area.
Here we look at the 5 key individuals you should be engaging with when it comes to creating your property investment team:
Depending on your long-term investment goals and objectives it may be sensible to purchase your properties under a limited company structure rather than individually.
This can vary depending on your own unique circumstances and how many properties you intend to invest in over time but a property tax expert will guide you through this and some other matters to ensure you’re investing in the most tax efficient way possible.
If you’re taking a mortgage to fund your purchase then it’s strongly advisable to have a discussion with an experienced broker before doing so.
Broker’s often have access to lending products that aren’t typically available on the high street and obtaining a competitive rate can be the difference between an investment that yields positive cash flow and one which doesn’t.
Property Investment Company
There’s a number of reasons for working with an experience property investment company when it comes to identifying your next property.
Intimate local knowledge, accurate financial projections, industry experience, a proven track record of successful investments, and professional negotiation skills are just some of the key factors that a reputable investment company can provide.
This is what we provide at Park Gate Investments, with our approach allowing investors a hassle-free and hands-off approach to property investment.
Once a purchase price has been agreed by you or your property investment partners with the property vendor then a conveyancing solicitor will be required to legally conclude the deal on your behalf.
There’s a wealth of solicitors to choose from, all with varying fee structures and it’s important to work with an experienced professional and one who’ll take a comprehensive and detailed approach to your purchase.
This of course is a vital stage of the property investment process and it’s worthwhile taking the time to study reviews and seek recommendations before deciding which solicitor is the best fit for you.
Like solicitors there are numerous letting agents offering their services throughout the country and it’s again crucial to find the right fit for you before proceeding.
Managing a rental property can be a hands-on role and involves many tasks such as advertising the property, finding suitable tenants, arranging check-ins/check-outs/maintenance work, collecting monthly rent, and of course ensuring the property is safe and legal at all times. Our advice would always be to work with a good agent rather than manage privately.
A good letting agent will manage all of these tasks for you and provide the peace of mind, hassle-free approach you should be taking as a professional investor.
💡 Effective and profitable property investment is best attained by collaborating with a team of skilled, knowledgeable and experienced professionals. Yes you can succeed without a team, but your journey will be notably more challenging.
To quote the proverb, “Cross the stream where it is shallowest” and your property investment journey will be a whole lot easier.
We have partnerships in all of the above professions and would be delighted to provide you with an introduction if helpful.
Click the link below to arrange a free consultancy if you’d like to discuss building your own investment team in more detail.