Strategies to be on Top of the Property Ladder
.Richard
Butler Creagh developed Henley Finance as recognised
a gap in the market for a bridging finance company that had their own in-house
valuation team, not reliant on outside valuers that would be able to assess the
project in its entirety and taking all aspects of the development into
consideration. Here is Richard Butler-Creagh tips on getting on top of the
property ladder:
Property developers and investors enjoyed a few
good years but now as the real estate cycle matures and uncertain events
surrounds the extent of the potential for the future of capital growths, it is
necessary to remember that it is not the outside world that defines success but
the place you take as investors and developers. In order to navigate through
the endless changes and challenges that will inevitably come up, you must
prepare in advance to face these difficulties. So, let us look at these
strategies that will help you reach your investment goals.
- Invest in knowledge before investing in bricks and mortar. The most
vital place to start investing is in you. But with a lot of information
available out there, it is very difficult to know who to listen to. Learn
from the people who have not only achieved what you want to achieve, but
also those who have maintained their wealth over a long period of time.
Surround yourself with likeminded people and get a consultant who will
inspire you, challenge you and hold you accountable for your actions.
- Marry your investment plans. It is very exciting to have big dreams
but if the way to get you there is built with gold that you can’t really
afford, then your dreams run the risk of becoming just dreams. You must
remember that all blooms come to an end and over the next years you will
be headed towards the peak of the property cycle. So as you enjoy your
current phase, also ensure that you are financially prepared for whatever
challenge that lies ahead.
- Reduce risk. Strategic and smart investors look forward to the best
of times to protect their portfolios in preparation for the tough times
that will eventually come in the future. Rather than going forward
carelessly, they take a more sensible approach by building an emergency
line to buy themselves time to ride through the upcoming storms. They also
own the type of property that will have continuous strong demand.
- Due diligence before the deal. While normal
investors buy properties emotionally, wise investors have investment plans
to follow and adhere and will carefully assess any potential investment
opportunity to reach their long-term goals. Investors know this will make
their investment related decisions less emotional and the results will be
better, consistent and predictable.
Remember to prepare for the worst, while hoping for
the best or in other words maximize your upside while at the same time covering
your downside and you will remain in control of your destiny to reach the top
of the ladder.
If you are interested on London’s property market,
visit the official page of Henley Finance and Richard Butler Creagh
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