Despite all the ups and downs of the economy, investing in property is still one of the safest and most lucrative things you can do with your money. We have a population crisis in the UK and demand for housing is far outweighing supply. With developers being unable to build properties fast enough and a call for more affordable housing options, people are queuing up for decent properties.

One thing that’s certain is that people will always need somewhere to call home, but investing in property takes knowledge, preparation and an eye for a good deal. If you’re looking to invest for the first time, here are a few things that you need to remember to make the experience easier and more rewarding.

Believe in yourself

 One of the most important things that successful investors all have in common is solid, unwavering self-belief. That’s easier said than done in the early days, but as Walt Disney once said, “If you dream it, you can achieve it.” Entrepreneurs are skilled at convincing themselves and others that they can achieve anything they want in life, and it all starts with having a positive mindset. If you struggle, read books on the Law of Attraction for a little inspiration and surround yourself with like minded people. It won’t guarantee your success, but it will certainly get you heading in the right direction”.

Have a clear strategy

 Lots of new investors make the mistake of going out there looking at all sorts of properties without having a clear idea of what they’re wanting to achieve long term. Being a successful investor means different things to different people; you might want to have a little nest egg for the future or be looking to completely give up work and create a huge multi million pound property portfolio. Think carefully about your long-term goals and aspirations and then look out for properties that can help you achieve them.

There are lots of different investment strategies to choose from too. You could buy a commercial property and convert it into HMOs (home of multiple occupancy), buy to let or renovate a repossession for a quick sale. Take your time, seek advice and look at all the different strategies so you understand which one works best for you. And don’t overdo it! Start with one project and you can then build your portfolio as your confidence grows.

Use your networks

 The property game is all about making connections and rubbing shoulders with the right people. Attend as many networking events as you possibly can, get to know other investors and talk to people who might want to partner up on a joint venture. And make sure you get to know your local agents- when people like you and understand what you’re looking for you’ve got a much greater chance of being the first to hear about exciting new opportunities.

Work hard

 Although for serious investors the ultimate aim is to just sit back and relax while the money works for you, be prepared to put some legwork in at the beginning. Successful property investors are prepared to work around the clock and go the extra mile to get what they want, so if you’re the sort of person who doesn’t like early starts and looking at properties in the evenings and weekends, this probably isn’t for you.

Keep your options open

 “Don’t put all your eggs in one basket” is a phrase that’s particularly relevant for fledgling property investors. It’s easy to be so enthusiastic and excited in the early stages that you make snap decisions, but it’s wise to shop around before signing on the dotted line. Do your research, ask lots of questions and seek help from a mentor before you make your first purchase. If something seems like it’s too good to be true it usually is, so don’t feel pressured into buying a property if you’re not 100% confident about it.

Property is a great way to secure your future, but don’t go into it headfirst and read and learn as much as you possibly can before you make a start.

If you have any question or you're looking to buy to invest, contact us today.