| How to Find Great Investment Buy-To-Let Properties |
How to Find Great Investment Buy-To-Let Properties.
How to Find Great Investment Buy-To-Let Properties.
Yesterday we talked about you ‘Thinking about your Buy-To-Let Property. Today, I feel inspired to talk to you about how to actually go about finding a great investment buy-to-let property to buy.
The first challenge you may have is to come up with the 15 percent deposit that most lenders require as a minimum investment on your part. The higher your deposit on the property the less the risk of your default as far as the lender is concerned.
However, if I am investing in a property I would want to put down the minimum deposit required to secure that investment property. Therefore, if I had £50k to invest in buy-to-let properties and, my strategy was to invest in one or two bedroom properties, I would put the money into two properties than to invest it all in one property. There had to be really compelling reasons to put it all in one property rather than to invest the money across two separate properties.
First, there is the old adage that ‘you should not put all your eggs in one basket’. In terms of an investment strategy it seems to me less risky to invest in two separate properties than to put all £50k down on the one property. If the properties cost £167,000 each then I would own two properties and an estate valued at £334,000 and be the owner of 100 percent of these properties. In that way I gain leverage in being able to double the value of my estate for the same £50k investment by using other people’s money.
You may be thinking at this point that’s all good and well but I don’t have a spare £50k lying about to put in one property let alone two properties. I don’t even have £5 I could use to buy a Kentucky or a McDonalds for lunch. These people who write about buying £muti-million properties must be living in cloud cuckoo land. I used to think the same way but I learned through education that this form of limited thinking is self-perpetuating meaning that ‘you become what you think about’. See if you can muster up about £8-£10 and invest the money in a book called ‘Think and Grow Rich’ by Napoleon Hill. That book will open up your mind to endless possibilities. ‘What the mind can conceive man can achieve’.
You may or may not be able to see where I am leading you. So let me spell it out to remove all doubt. There are lots of people out there investing in property day in day out because they are able to come up with the deposit. Any fool can invest in a property and some do make money out of it. I see them almost every day on these buy-to-let auction programmes on television. However, if you ask them why they bought the.......Read more
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