Wednesday, 20 November 2013

3rd Property finished and let

Hi All

Who said women can not make good landlords! Or be in the property development business!

We all know Sarah Beeny has done well and bit by bit more women are branching into property. But women can do it all on their own too. I started off on my own, so don't be afraid to try.

However I am looking at building mine up even more and there is a whole lot of options to do that. The more you build the better it does get but still a big challenge! Sometimes it can be stressful when tradesmen let you down. It does happen! It is not always easy sailing for sure. 

You do have a bit of fire in your belly to deal with property and getting the property you want. Finance is the key too. You have to have money to start and it is not easy. I got my first mortgage when I was 29yrs old. I started a catering company and did very well in the first 2 years. I worked so hard but made the money. 

I made a great amount of equity in my first ever property. It needed a lot of work. The market rose very fast between 2000 to 2008. I sold just before the crunch! I was very lucky. My property doubled in value.

I have done many hiring and firing but lucky to have a main team I can rely on.

I have finished my latest project and let instantly. Carpet was laid quickly and let the same week so I could not get finished pics!

I don't know if I told you but I have a local letting agent who finds my tenants and does all the checks for me. 

Letting agents can be costly when dealing with maintenance and collecting rent on your behalf. But if you live abroad, that is the best path to take. They deal with everything for you.

I manage all my properties myself.

 I do all decorating and tiling to reduce my costs. Or look around for handy men to do those little jobs. In your local paper there are some reasonable daily rates. For example retired handyman is great and they don't charge the earth.

Make sure soon as you buy a property insure it straight away!

How I look for the right property.

I do my homework first looking at all the best deals around and get the cheapest price. 

I have in  mind when I buy the property what type of kitchen I want  like type of units and work tops and sinks and appliances. Also I know what bathroom I want. I think at first I look at the property and size up how I want the whole place to look.

Being you are letting out you dont want high standard for example I am looking at selling in the near future so I dont need it to be the highest. But I do want it to be modern easy kept and maintained.

When I go to sell my property the buyers may want to change things anyway so why pay out more. I look for the medium ground and easy to sell. I keep my properties bright and fresh looking, no harsh colours. Creams and beige is good. Kitchen and bathrooms sell the property the most so I focus on them the most. 

I love properties and want to do as many projects as I can. If that be helping housing to private residential. So Keep checking my blog.

Ladies don't be afraid to try starting your own business. It is better to try then to regret not trying at all.


No comments:

Post a Comment