If you thought a career as a property investor was something that you couldn’t possibly do, think again. Property development and investment are no longer the sole domain of already rich people. In fact, it’s a career option that anyone can consider.
Take the time to learn about it first, and then consider whether it’s a chance you’re willing to take. Successful property investors benefit in a number of ways. Working for themselves, making money and having control over the projects they take on and sell combine to make an attractive career option.
Here’s how to launch your career as a successful property investor
For people completely new to the idea of becoming a property investor, we would recommend taking our online course. This will give you enough information to work out whether it’s truly for you, and as you move through the modules, how you can learn the skills you need to make it happen. Reviews of Shaw Academy courses can be found here.
Whether you decide to take a formal course or go it alone, remember that it’s highly unlikely that you will become an overnight success in this field. Property investment takes time to learn and to properly understand.
Factors ranging from the current interest rate to the amount of money you have available to invest all combine to demand a proper thought-out strategy. Before the pandemic, property prices were soaring in the UK. And since the vaccination roll-out began, they are creeping up again after stalling for around six months in 2020.
External factors like the socio-economic environment and any major events impacting the economy are exactly the kind of things that you need to understand. Property investment is never risk-free – no investment ever is – but done correctly it can lead to regular income.
Understand the market and refine your target opportunities
When you’ve learned how to strategise and you have a starting stake, it’s time to home in on the areas of interest. If you are sticking to residential property, then we would recommend targeting flats over houses, although this does depend on the region you’re looking at.
Investing in houses, whether terraced, semi-detached or detached, can and will make you money, apartments tend to be better buy-to-let opportunities. The turnaround is generally more regular and in key areas of the country, there will always be demand.
Apartments have a number of different types of demographic interested in them, including couples, single professionals, students and small mixed flat shares. People with children and growing families tend to want to move into more suburban areas and to select houses, but this isn’t always the case.
Over the next few years, there will continue to be significant urban migration from young professionals and graduates who want to get their careers started. They will naturally flock to city centres in key areas – think London, Brighton, Liverpool. City centre property locations will usually offer the biggest yields. And while the pandemic has obviously affected the way people move around, this is already beginning to bounce back.
Consider cities with a high number of graduates and young professionals
Big university cities and towns have always been great places to snap up property investment opportunities. And while students may still be working online for now, universities will soon open up again. City centre properties will generally cost more when you buy them, but you will also be able to either sell on or rent out for higher still. City centres remain the most lucrative property areas in the country, thanks to accessibility, transport links, nightlife and general amenities.
Research the area you are looking at, and even if you think you know it well, take the time to research it more. With the right strategy, the right approach and sufficient understanding of the market, it’s possible to turn an initial stake of £50,000 to £100,000 into substantially more in a relatively short time.
Depending on your budget, consider cheaper but up and coming cities over places like London. Look in the north particularly and see whether there are any investment opportunities in places like Manchester and Liverpool. It’s also worth considering off-plan developments. While it can seem riskier to start with, if you get in at the right time (ie, early on in the development), you can benefit from cheaper prices on a property that will gain capital appreciation overt the next few years.
So, what can you learn from the Shaw Academy online course?
It’s very much a beginner’s guide to becoming a property investor and is therefore particularly beneficial for people considering making the move into property investment. Regardless of your background or experience level, you can complete the first four weeks for free. This covers the entire first module, which gives you an excellent opportunity to try it risk free.
Taught by Shaw Academy specialist instructors, the real estate investment course will help you understand the fundamentals and strategies within the sector. Find out whether property investment is right for you, how it works, the kind of strategy you’d need to develop, the main components of investment decisions and how to truly understand the mindset you need.
Psychology is an important factor in any investment decisions, and to excel at property investment you need to really grasp how people work in this sector. You’ll also receive grounding in buying off-plan and investing in buy-to-let properties, how and when to flip (sell) a property.