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  • Writer's pictureKingsley Property

5 Easy Steps To Property Investing.

1 - Decide what you want to achieve from property investing.

Are you looking for a quick return on your investment ?

Are you looking to build a portfolio ?

Do you want to replace your income and go into property investing full time ?

2 - Buy discounted property

Befriend a local agent, contact them weekly to be front of mind when a suitable property comes available.

Don’t just search the property websites, try websites like Gumtree, Facebook Marketplace as well.

Be quick with your offer, make it over the phone / in person and back it up with an email including proof of funds and your solicitor details - this will put you ahead of the competition.

3 - Add value / Renovate

Research local builders and / or seek recommendations, use websites like CheckATrade / Find A Builder / My Job Quote.

Set a budget for refurbishment, if you're new to this, then add 10% - 15% contingency fund.

4 - Refinance / Apply for a Buy To Let mortgage with 25% deposit,

If you have bought at the correct price and completed the refurbishment within the budget you should have increased the value, you now apply for a mortgage at it’s new value, taking most of your initial money out to invest in another property.

5 - Get tenants.

Now you have a shiny newly refurbished property you will be able to get top rent,

Research local letting agents and / or seek recommendations, don’t just accept the first tenants, don’t compromise on your ideal tenant for a quick sale - you might regret it later.

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