7 Things That Make a Good Investment Property

Are you scared of making a mistake? Are you fearful of making a bad investment? In today’s episode of the Progressive Property Podcast, Kevin shares with new investors a 7-stage step-by-step guide on purchasing property and how to know if it’s a good investment. Discover how to spot a strong rental demand, where you can add value and what investments are best for instant cashflow. Join the Progressive Property Community   KEY TAKEAWAYS   Strong rental demand. You should not invest unless you’re sure that you can tenant that property. Research the demographic, demand, value and type of property that rents well in your chosen investment area online and in-person and even survey potential tenants and competition to discover your ideal investment. Cashflow. You need to invest in property that pays a positive cashflow today. Calculate your rental income (turnover) minus your expenses = profit/cashflow. Cashflow will also help to protect you from a recession negatively affecting house prices. Can you add value? Making money is about adding value to a property. Don’t gamble with a property that cannot be improved. Always research the footprint of the property for opportunities to add value. Capital growth potential vs stable property prices. When prices are stable and growth is miserable you will more accurately be able to predict future capital growth potential for that property on that street. Local Economy. Monitor the local economy and understand weather companies will be investing in the area and creating jobs and wealth which will lead to increased rental demand and capital gains. Make your money when you buy. Purchase at the right price, add value and bank future profits. Property Management. Always purchase in an area with good management companies and never manage your investments yourself so that you can focus on finding more deals to increase your wealth. BEST MOMENTS“View other properties to get a good idea of what rental properties should look like”“Property is a business that needs to create you an income today”“If you build up cashflow generating assets, you can replace your income and cover your cost of living”“Equity is vanity, cashflow is sanity”“You cannot add value to new build properties”“Force the value of your property to increase wealth”“Add value and recycle your investment back out by leveraging the banks money” VALUABLE RESOURCES Rob Moore - MONEY ABOUT THE HOST Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.    CONTACT METHOD https://www.facebook.com/kevinMcDonnellProperty/ https://kevinmcdonnell.co.uk/ progressive, property, investing, rent, housing, buy to lets, serviced accomodation, block, auction, home, financial freedom, recurring income, tax, mortgage, assets: http://progressiveproperty.co.uk/