Many of our clients – most notably our brand ambassador Finn Russell, rugby star and budding property investor – ask us for advice when they think of investing in property. With interest rates still affordable and prices constantly going up, the present condition of the local property market makes a good context for property investment. With that in mind, here are the three key things to bear in mind if you want make property a profitable part of your investment portfolio.
Know Your Market
As the old phrase goes, ‘Knowledge is power’, so if you want to make property a profitable part of your investment portfolio, you will need great local property insighty so that you can hone your strategy.
Before you get started with your property hunt, you have to think about your long term goal with the property in question— do you want to rent it out long term, short term or flip it and sell it onward? The second step is thinking about the quality of the area the property is in and its potential— is the area getting richer, is there good access to local amenities and shops nearby etc.? The third step is thinking about the quality of the property itself— does it need any major work to make it fit for its purpose?
The greatest news is, if you need well-informed advice, all you have to do is call Vanilla Square! We have a wealth of experience on the local Glasgow market and can guide you through the maze of strategic property investment to best suit your goals!
Start small and grow!
If you’re just beginning your journey when it comes to property investment, it makes sense to start small and build on your successes sustainably. Rome wasn’t built in a day, after all. Investing in property is obviously not without risk, so thinking very carefully and prudently about your investment choices is the best course of action. When you’re starting off it’s better to focus on one property and do very well, then diversify your portfolio as you get more experienced.
In effect, only investing within your budget will help to reduce the potential of financially damaging mistakes happening.
Get a little help from your friends
If you’re thinking of including property in your investment portfolio (which you naturally should), and you want to boost your chances of success, consult a property expert before you start!
At Vanilla Square, we’re happy to help advise investors about adding property in the West End and Glasgow to their investment portfolio. Voted Best Estate Agent in Scotland at the 2016 ESTAS awards, we know the West End property market in incredible detail and can provide tailored advice to help you achieve your goals.
Vanilla Square are an award-winning, boutique letting and estate agency, based in Glasgow’s trendy West End. Our dedicated team harness the latest innovations and technology to help you get the most from your investment. Contact us today for specialist, no obligation and impartial advice on your property investment portfolio.