Achieve your goals of property investment
Making sure that you hit the objectives of property investment will be easier if you know what you want to be: a property investor or a buy-to-let landlord.
If you’ve already made a property investment or are considering doing so. Then you understand why property investment is number one for income investing. Becoming a buy-to-let landlord has its attractions for some property investors – it might replace a lost job, for example. But if you know the difference between this and being a pure property investor, you’ll have a much better chance of achieving your goals.
Is property management the job you want to do?
If you become a buy-to-let landlord, you are immediately taking on all the duties of property management. Of course, dealing with tenants, discussing maintenance costs with local tradesmen. Getting involved in the details of tenancy agreements might be better than working at the local Tesco or Wetherspoons. But do you really want to be on call 24/7? And for 365 days of the year?
If you’ve made a property investment to change your life, give you extra cash for family holidays, or as a retirement savings vehicle, then becoming a buy-to-let landlord might not be in your mindset.
Do you want to build a life-changing property investment portfolio?
The likelihood is that one property won’t get you to where you want to be in life. So you’re going to want to build up an investment property portfolio. If your property management work as a buy-to-let landlord starts to overtake your life. You’ll have less time to dedicate to doing the research and due diligence that makes sure your next property investment is a success.
Successful property investors use their time to scale up their property portfolio, not to discuss a leaky s-bend with a tenant and arrange a plumber to make the repair. Even if you are investing with a 3+1 property investment strategy, those three properties take some managing when you’re a buy-to-let landlord.
What is your time worth?
It could simply be that you can make more by not being a buy-to-let landlord. The beautiful thing about becoming a property investor is that rental payments become passive income if someone else is doing all the property management. This means you retain the time to do other income-producing work, spend time with the wife and children, or go on that Mediterranean cruise you’ve promised yourself every anniversary for the last ten years.
Knowing how to value your time is an eye-opener for many buy-to-let landlords, who haven’t realised that they’ve simply replaced one full-time job with another, more exhausting one.
Are you an emotional buy-to-let landlord?
Property investors rarely make the best buy-to-let landlords, who can become emotionally attached to their property investment and unable to make objective decisions. If you really want to do it yourself, create a network of professionals to do the work for you. But if you want to reap the rewards of being a property investor without the hassle of becoming a buy-to-let landlord. Employ professional property management services.
Don’t hesitate to get in touch to discuss our property management services that will help you profit as a property investor. Call the team on +44 1522 503 717 today.