Are you looking towards a career in property?

Discussion in 'General Property Investment Discussion' started by totallyproperty, Dec 7, 2013.

  1. totallyproperty

    totallyproperty Administrator Staff Member

    While there is no doubt that investment in property is a skill, and an art, it has allowed many people to fulfil a lifetime ambition of a career in property. Many buy to let entrepreneurs tend to start off fairly small and over time grow their portfolios to a situation where they can actually afford to live off their rental income.

    Have you ever considered building up your own buy to let property portfolio?
  2. If you plan on buying a house because you think it’s the best way to build wealth, stop. Don’t do it. Rather than improve your financial position, it’s more likely to ruin you.
  3. mitchelleelvis01

    mitchelleelvis01 New Member

    Venturing in real estate isn't easy as you might think. Others do it because they are well equipped with the knowledge and knows the in and out of joining this kind of field. Yeah, there is money in buying and selling of properties but not everyone is actually born to be in this kind of niche. Before building a career in this business beware of the things that you have to know and study the market well.
  4. nikkiyoung139

    nikkiyoung139 New Member

    Property investment is one of the best way of investing nowadays. I'm looking
    forward for that also. I am sharing to you what I have experienced. {moderated}
    Last edited by a moderator: May 26, 2014
  5. bruynjustin

    bruynjustin New Member

    Investments are a great way to make a profit. Property can be self-funded or it can provide a regular income. There are few things you can do to begin a career in property investment.
    1. Long term investment will give you better returns for your retirement with rental property cash flow.
    2. Do not invest in a property, which is in a high vacancy area or in a declining city.
    3. Buy personal residences to switch to rental properties.
    4. Estimate the cost of renovation of a property and all other expenses you will have to pay.
    Last edited: May 29, 2014
  6. aliciawillems286

    aliciawillems286 New Member

    I suggets you to firstly improve your financial situation then move for buy a home.
  7. harveyjackson12

    harveyjackson12 New Member

    As easily as purchasing property right away,You can too invest in managed funds that buy and sell commercial property.
  8. eddyarchy

    eddyarchy New Member

    Who would agree that starting small i.e property under 100k is best for a beginner ?
  9. Barny

    Barny Member

    I wouldn't say starting 'small' is necessarily the way for beginners, it really depends on what money the 'beginner' has available to spend in terms of a deposit.

    My suggestion would be to only spend what you're comfortable with in the first instance and then if all goes well, after 6/12 months, buy somewhere else.

    As you'll see in various posts by various users, a lot of investors prefer to spread their money and have multiple properties rather than all invested in 1 large property. Note though, there is no right or wrong way as to how to spend your money, as long as you achieve what you want, whether it be immediate income through a high yield, or long term, have a healthy capital growth, then if it's achieving what you set out to do, great.

    I'd suggest to have a full read through the forums because there are many threads that you could read and take bits of information from in terms of how and where to start. Good luck to you
  10. eddyarchy

    eddyarchy New Member

    Hi Barny,

    Thank you for your reply, really helpful!

    In regards to comfortability around the deposit - I have between 7-9k and think I will use that to obtain a small flat/ house to start.

    There are so many variables that are daunting from knowing where to buy to the T&Cs to include in the tenancy agreement.

    I will definitely use the forum to gain experience and hope I bump into kind knowledgeable people like yourself.

    Thanks again Barny.
  11. FL-PIF

    FL-PIF New Member

    3 Reasons why investing in real estate will be beneficial:

    1. Pays a fair cash-on-cash Return
    2. Isn't a very risky investment
    3. You don't have to manage or put in too much of your time.
  12. robohs

    robohs New Member

    Investment in property is always beneficial in any terms and condition it will give for sure benefits .Real estate is the only business which takes you on top in very short time.So real is good for part time only.
  13. robohs

    robohs New Member

    It is really easy to make career in any field .But you should be come up with positive attitudes.Real is the basic thing which everyone knows about before making career just think why you want to choose real estate for career or for money .Money gives you satisfaction but career give you success and new standard of living.
  14. sergerybrin

    sergerybrin Member

    Real estate is one of the best business to make a career or full of benefits and oppurtunities .. You should improve your financial situation then go ahead to investment in real estate..Buy a home is dream of every person so this is widely grow up business now a days.
  15. nicole2403

    nicole2403 New Member

    Dont you just love it when people say "dont invest in property to make money it`s risky" but they are doing it themselves.hmmm.

    I have always has a passion for property and after several years of re-search (whilst saving the money) I am all to excited to be on track to purchasing my first investment property next May.

    I have read the points on the website and will no doubt be posting once i get going. Its going to be exciting.
  16. Nicholas Wallwork

    Nicholas Wallwork Editor-in-Chief Staff Member Premium Member

    Hi @nicole2403 great to have you join the Property Forum! Well done on putting your education and research first... it's the key thing to focus on first to ensure re reduce your risks and work out what your perfect strategy is...

    Please ask as many questions you like on there and we'll all try to help as much as we can... and enjoy your own journey.

    I look forward to hearing more about it!
  17. nmb

    nmb Well-Known Member

    If you are considering a career in property it makes sense to dip your toe in the water in a relatively small way. Whether you do this in your spare time, and maintain full-time employment, and then switch to full-time property investment when affordable is something to consider. However, those moving lock stock and barrel from full-time employment (or leaving further education) to property investment on a full-time basis will need to find an income stream to depend upon in the early days while they continue to build their "investment pot".
  18. nicole2403

    nicole2403 New Member

    totally agree, that's what hubby and I intend to do I reckon I could give my job up 18months from start date. I think that's realistic.
  19. nmb

    nmb Well-Known Member

    Hi @nicole2403

    I was wondering how long have you been building up your property portfolio? It is encouraging to see people taking a sensible approach to property investment because jumping from full-time employment to full-time property investment brings with it an array of financial challenges.
  20. nicole2403

    nicole2403 New Member

    Hi nmb we are building up TO a portfolio. We haven't yet started we intend to make our first purchase in May 2017.

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