What to do if you are a Property Investor in 2010

publication date: Jan 4, 2010
 | 
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
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What to do if you are a Property Investor in 2010

Here are Kate's Top Five Property Investing Tips for 2010:-

Buying in a normal market as an investor is tricky, buying in a property/economic recession is much more difficult. It's easy to 'think' you are buying a good deal, but get INDEPENDENT and PROFESSIONAL verification of property values before you go ahead.

1. Avoid 'no money down' deals. Most if not all are illegal now due to the six month rule. This rule was put in place to protect YOU so don't use so called industry 'work arounds'!

2. Work with property professionals if you are new to investing. Many people are getting it wrong and losing a lot of money (tens of thousands of pounds). Don't risk going it alone.

3. Work out your exit strategy FIRST and what you want from your property purchase, eg what income after tax, what capital growth after tax - when? Then you can assess a deal based on these parameters.

4. Make sure you understand how inflation, interest rates and the problems in the economy will affect you and your property portfolio.

5. Ensure you have an independent finance and experienced legal company - NEVER use those recommended by property investment companies unless you check contracts/finance deals directly with a lender and a seperate legal company.

NEED HELP FROM THE DESIGNS ON PROPERTY EXPERTS?

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This unique service, where you purchase a ‘property project pack’ gives you:-
  • An A4 ‘how to’ guide (approx 80 pages), containing Dos and Don’ts, Factsheets, Checklists, Handy Tips and Forms
  • Access to Kate and her team, by phone and email, for any queries you might have during your project.

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