Alright, you magnificent mavericks, ‘virgin-preneurs’ and seasoned self-starters, strap in because we're diving headfirst into the wonderful world of UK property investment in 2024, Finanze style. Disruptor of norms, creator of capital and proudly prolific with finding you funds, we're about to uncover some juicy bits that'll help you turn your investment game into an absolute juggernaut of success.
...don’t overlook where investment is going.
1: Prime Locations vs Money Pits
If you're not at least looking at London, Manchester, and Edinburgh when it comes to property investment, you're not playing the game right. Historical charm, booming economies, and a hunger for real estate – it's the trinity of success. So, for your next move, plant your flag where the action is, and let the returns flow like a fine single malt. BUT – don’t overlook where investment is going. You don’t need a degree in economics to be able to see where the Government and big businesses are putting their pennies, so keep an eye on wider regeneration plans, employment zones and anything that means money is moving into (or out of) an area.
Everyone needs somewhere to live and despite a mass increase in home working, many employers are encouraging people back into the office, so it pays to stay informed on those town centres that are ripe for a new type of business. Just read the broadsheets – not the tabloids. If you believe the hype, you might think Jennifer Lopez and Ben Affleck are headed for another split, but unless you plan on making a Below Value offer on their posh pad, the tabloids aren't going to help you.
...an empty property is a loss maker and that’s coming right out of your pocket... future-proof your investment.
2: Sustainable and Smart Homes
Innovation, is where the gold is at so embrace it. Just don’t go too nuts. Remember you present a property for a specific target client, not for Elon Musk.
Sustainable properties and smart tech are the rebels shaking up property markets. Think energy efficiency with a dash of futuristic automation. It's not just about being trendy; it's a trending topic, and you want to be making your mark.
You might think it’s all down to tenants to cover the costs of heating and internet (and such like) but make it easy for them to make your property their first choice in a competitive market. After all, an empty property is a loss maker and that’s coming right out of your pocket.
Make your property the Tesla of real estate – up-to-date, efficient, and turning heads and you’ll future-proof your investment.
...understand and cater for what your tenants want
3: Diverse Digs
If you're still stuck on the traditional BTL family-type residential properties, wake up and smell the profits. Property isn’t one-dimensional and diversification can help you through rough patches. Student accommodations, high-end co-living and co-working spaces, and commercial gems are where the action is spicier than a vindaloo. Gone are the days when a splash of magnolia and a grey carpet would be enough to get the place let. People want a bit of pzazz with funky lighting, great bathrooms and pads that feel like homes, not cells. Offices need to be a bit more inspiring for the co-working aficionados. Go mental with some decorating derring-do and let loose your inner Laurence Llewellyn-Bowen. You need to understand and cater for what your tenants want, spruce up your portfolio, and watch your returns dance like no one's watching.
don’t scrimp on your broadband
4: Remote Work
Remote work is the new cool kid on the block, with more people able to be geographically mobile whilst they earn their crust. If we learned anything during the COVID pandemic, it’s that many people could be as productive at home as they are in an office (many, but not all of course – we all know that one guy, right?).
Suburbs and rural areas are the rising stars, catering to the wanderlust of remote workers. Locations that appeal to digital nomads need great wifi access, so don’t scrimp on your broadband or try leeching off your neighbour.
You might even want to think about catering for the increasing number of over 50’s who live life on the road year-round in campervans (anyone got a secure field for rent?)
...making sure you’re finance-fit is THE ONE THING you need to get right from the start.
5: Financing Strategies
In the winding world of property investment, you can't play by the same rules and expect different results.
Speed and credibility are key to getting a deal done and lining up your next investment. It’s here that many gifted amateurs find they don’t reach their true potential. Education will take you places of course, but experience will take you all the way! So, making sure you’re finance-fit is THE ONE THING you need to get right from the start. It’s also the one thing we see a lot of people leave to the last after they’ve spent eye-watering sums of money on a three-day training course dragged out over 6 months (or longer) that leaves them with more questions than answers. In fact, we’ve created our own brand of education platform to break this cycle, it’s called Finanze Success and you can get access to real experts all year round. Give that a go here or sign up to the waiting list to get a place.
Stay savvy and get your money mindset and mojo right first time. You need to know how to make every deal stack FINANCIALLY but you also need to be able to deploy capital.
Creative financing, savvy mortgage moves, and power-packed partnerships are your secret weapons. Adaptability isn't an option in this industry; it's a necessity. Get a GOOD broker on side from the start and you won’t look back. You need connections with money – so keep good company!
...you need a road map
In the jungle of UK property investment, you've got to be the lion, not the gazelle. You need to take a long-term view if you’re going to progress and profit. Prime locations, sustainability, diversity, remote work, and financing savvy are the tools you need. 2024 has just started, and there’s all to play for.
If you’re thinking you need a road map, don't just sit there – book a consult call now.