What do you think is the most common reason that first leads people to invest in property?
There are plenty of motivations out there including:
1) “I had a cash lump sum and after research, decided my best option was to buy-to-let an apartment.”
2) “We couldn’t sell our house when we wanted to move so we decided to let it out instead.”
3) “People I know have bought buy-to-lets in the UK and done OK so I decided to do the same”
But others are more strategic about what they actually want to achieve over the long term, and statistically it is those that have a property investment PLAN that will be more focussed on the results they want to see, and therefore most likely to achieve the goals they set themselves for future income.
Setting goals for future wealth
Most property buyers understand that good research is crucial when considering any new property investment, whether theyre going it alone or getting guidance from a specialist agent or a broker. But for the first-timer particularly its easy to get caught up in the excitement and fail to plan.
If you’re doing Property investment then it should be a cornerstone of the financial blueprint for your life. It’s all about setting your financial goals, such as generating £x,000 annual profit in a certain number of years and then working that back to today and deciding how to make a start.
Very few take this final step and commit to it, but those who do reap the rewards. Fanciful? No, take a look at the Rich List to see how many at the top end did exactly that…
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