Why Work With a Property Partner?
There are a wide range of Property Investment companies throughout the UK, all operating in various areas of the market. So should you be working with one of them ahead of your next investment, and if so who is the best fit for you?
Each investor has their own unique personal circumstances and objectives when it comes to property investment.
Some will choose to buy in cash whilst others may take the option of a mortgage. Some are focused on targeting a high yield and “beating the banks” whereas others may be happy to play the long game and enjoy the benefits of capital growth.
And, to bring us round to this discussion, some will benefit from the services of a property investment partner whereas others prefer to go it alone.
We frequently talk about the advantages of creating your property investment team but first let’s look in more detail at what a property investment partner such as ourselves may offer you and why you might want to engage with one before making your next property move.
What Will a Property Investment Partner Do For You?
In short a property investment company will allow you a hands off approach to property investment by finding you the right investment at the right price based on your own budgets and objectives.
Through their networks – whether that be on or off market channels – they’ll identify the property (or properties) most suited to your needs based on an initial consultation.
As mentioned above, different companies will operate in varying areas of the market so it’s crucial to find one that’s aligned to your own goals. Don’t be afraid to ask for examples of previous successes to help you make your decision.
A further key role they play is in connecting you to other relevant property professionals such as a mortgage broker, tax expert, conveyancing solicitor, and letting agent, who can all play a crucial part in the success of your investment.
What Advantages Will You Benefit From?
There are a number of benefits when working with a property investment partner and we’ve highlighted some of the main ones here:
- A Proven Track Record: A reputable investment partner will be able to show you evidence of previous successes and a track record of solid investments over a number of years. Be wary of those who can’t provide this or who haven’t spent a suitable length of time in the industry/market.
- Intimate Local Knowledge: Intricate local knowledge allows an investment partner to identify precisely what you’ll be getting from your investment in terms of monthly returns, costs, and tenant types. They can also identify areas which either already experience or are primed for future capital growth.
- Avoiding Costly Mistakes: In any big city it’s very easy to invest in the wrong area – even by just a few hundred yards – and investment partners will allow clients to enjoy the benefits of their experience as they filter out the bad investments which are very easy to stumble in to in property.
- Professional Negotiation: As above, your investment partner should have the experience of having been at the negotiation table many times before and will use this experience to negotiate the best possible purchase price for you at all times. Effective negotiation can often save you the investment fees themselves.
- Time: Many investor clients are “cash rich & time poor” and don’t have the necessary time to spend searching online property portals, assessing home reports, arranging viewings with agents, negotiating purchase prices and so on. The right property investment partner will do all of the above and more for their clients.
- A Hands-off Approach: Ultimately your investment will take the hassle and stress out of property investment allowing you a fully hands-off experience from start to finish.
Is Working With a Property Investment Partner Right For you?
Working with a partner isn’t necessarily right for everyone. If you’re an investor with intimate knowledge of the area you’re investing in, have suitable time on your hands, and have the appetite and resources for the various tasks involved then perhaps going solo is the way for you.
However, if you’re lacking in any of the above areas, if some (or all) of the key advantages mentioned above appeal to you, or if you prefer a hands-off approach to property investment then it may be an idea to begin researching the best investment partners in your chosen area.
If you’re among the many investors who are currently being drawn to the Glasgow market and would like to discuss working with us here at Park Gate Investments, then complete the form here and a member of our Investment Team will be in touch.