Investing in and making money from property can be a tough task at times, even with a booming market that is outperforming almost all others across the world.
The latest Nationwide data released shows that the UK property market grew at 10% across the country last year, whilst in the North West of England that figure hit a massive 15%.
In many ways, it’s made out that investing in property is easy, and in some ways that’s true. There are, however, definitely lessons that must be learned in order to invest in the right kind of properties in the right areas that have the most potential to make a profitable investment.
With that in mind, here are some top pieces of famous investment advice that can be applied to property investment.
Benjamin Franklin
One of the founding fathers of the United States of America, he wasn’t just a founding father he was also a scientist and investor. One of his most famous investing quotes, ‘An investment in knowledge pays the best interest’ can also be applied to property.
When it comes to success in property, knowledge is power, so ensure that you thoroughly research anything that you’re intending to invest in.
There are lots of resources online where you can learn about things like renovating property, yields, managing properties and maintenance, and it pays to use them.
Of course, at yieldit we also have expert advisors that can answer any questions you may have about properties that you’re interested in.
Carlos Slim Helu
Carlos Slim Helú is a Mexican business magnate, investor and philanthropist. From 2010 to 2013, Slim was ranked as the richest person in the world, so he probably knows a few things about making money.
His knowledge can be applied to property investing. His famous quote, ‘With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future’, urges us to keep our perspective.
The recent pandemic is an excellent example of this. Whilst many commentators in the tabloid media and on television were warning of potential crashes and evaporating demand, the story that unfolded was very different.
If we look at past economic crises of the past, the property market very rarely reflects economic dips in a like-for-like fashion, and it helps us to remember that when things look sketchy in other economic areas.
Warren Buffett
As a world famous investor and owner of Berkshire Hathaway, Warren Buffett has enough quotes to fill his own book (or three), however, one that we can use today is, ‘I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over’.
Many property investors are often looking for immediate profit or large houses that they can purchase immediately that are outside of their budget.
For many of our most successful clients, they’re able to pick up properties with potential for a lower initial outlay in areas they may not have considered, and they build from there. Diversifying your portfolio of properties rather than sticking all your money in one is a much more sensible way to minimise the risks.
Ultimately, we have a large book of properties with huge potential, and the market is on the up, so why not get in touch today to see where you may be able to invest the smart money?
