Talk to other investors that have used a particular agent to see if they are on the level and perform your own due diligence in an area before investing in a property and you should be safe. Some unscrupulous agents have inflated these rental yields and unsuspecting investors have purchased properties in the wrong locations and lost considerable money.
You need to know what the rental yields are in a particular area before you commit to a property purchase. What is not a good idea is to leave this all to an agent to decide. Well even when you take the agents fees into account you can still make a good profit and residual income if the property is in the right location and there is strong rental demand. There are companies that will find the ideal property for you, find tenants and manage the property as well. Right now there is a huge demand for hands off investments. Is It A Good Idea To Go Totally Hands Free? Also they will have access to trusted local trades people who can do all of those repairs for you. Do you have the time and resources to do this?Ī letting agent will be far more likely to find somebody that is ready to rent in your area than you will be able to alone. What if a tenant leaves? You will want to ensure that a new tenant is found very quickly.
Hands off investment full#
You do not want to be a 24 hour landlord dealing with the mundane when you should be looking for your next property.Įven with one property you may find that being the landlord can be a full time job. If you are looking to build a good property portfolio (and you should) then having the time available to do this is essential. The benefits of a monthly residual income, without any of the hassles of being a traditional landlord at the beck and call of tenants around the clock. Property management companies will tell you that you are getting the best of both worlds. Kind of explains why is no wonder that a lot of investors choose a property management company to take care of these things for them. Often the joys of leaks or boilers breaking down in the middle of the night and the tenants are on the phone to you! I get it, property management can be a real headache and there are often problems that are unpredictable and unavoidable. Win win.Let’s say you have bought yourself a property, but you don’t want all of the hassle that goes with managing it. I think long term Sam and his business will get to where he wants to be and make lots of money, but as an investor I will make a nice profit myself. I chose to invest with Sam for his work ethic, passion and his energy to succeed.
I would highly recommend investing with Sam and would be willing to discuss my contract with anyone to convince you it's a no brainer. I know my investment is totally safe with Sam, and the contract we have gives me peace of mind and is legally binding. The interest rates he pays are amazing and are far better than any bank could offer. Sam is only a phone call away to answer any questions or concerns and you always come away fully satisfied.
He is hard working, dedicated and passionate about his business. It's been an absolute pleasure investing with Sam, he discussed all aspects of the business and how my money would be invested - and best of all how much interest my investment would make each month.
Receiving a monthly interest payment has enabled me to take early retirement. Two years ago I invested with Sam Elgie from Elgie Group.
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