Hey Friends,
This is the most fundamental strategy that you will like to begin with. This stop strategy is used by those without sufficient experience in the buy to let market to increase there income.
In short this strategy works like this: when you are in hold of some money to invest in some properties then buy one or two and then wait. These deals will give you experience in buying and selling it will help you in dealing with tenants, clients agents financial institutions for mortgages etc. After these initial deals just review your position just visualize all the steps which you under took, by this way you may get the loose point for this particular deal.
It would be important to have someone to guide you and answer all your questions throughout the process. The main power of this strategy lies in the ability that gives you power, emotionally and mentally that makes you feel and accept that you are now a landlord, an investor.
I had a client who had payed his property off a long time ago, he earned around £20,000 per year income so he never thought that he could build a significant portfolio. Over the years his home doubled, doubled again, and doubled twice more. This left him with a considerable amount of equity that he wasn’t making use of.
People have fears about using there equity – they worry that if they invested and could not find tenants, or what if the real estate process just crash down and all sort of other beginning investors issues.
My client was also with these type of fears when he first met me. He said that he knew he had to do something, but for years had lived in fear. He had everything but not enough courage and guidance over the years to do this right.
These fears were descends of lack of correct education. So the important thing to do was replace the old outdated beliefs with a new set of practical happenings. The reason we stop after one or two is to let your mind and emotional catch up with your portfolio. If you did continue building the portfolio without any break or control; you would invariably stumble or the stress would become too much.The only thing to consider now is how long to stop for. This is totally dependent on you. Don’t continue investing until you are ready. In saying this, if you’re a year down the track and you haven’t started you may be resting in your comfort zone. This is where the assistance of an experienced portfolio manager can ensure you move onto the next step. My friend Brett Wood has added very nice informative articles about Property investment at http://www.yourpropertyclub.com, you can check it out for further reference. Thanks for reading and best of luck for your property deals.
