With property prices falling at an alarming rate, most are panicking and some are rubbing their hands with glee.
These investers are seeing returns on their investments increase from an average of 6% to 9, 10 and 11%.
What bank would give you that? The rental market is very good right now, more so than ever in fact, so finding good tenants who'll pay the going rate for property isn't a problem.
Everyone needs somewhere to live right? Those who have been waiting to buy should jump in.
Once the market recovers they will be in a fantastic position with a high yielding investment worth thousands more than they paid for it.
Obviously you will need a deposit, which will be roughly 20% of the value of the property, you may think that's quite high, but if your purchasing at 30% below market value which most repos or even desperate vendors are selling at, then it equates to 10% of the purchase price in a good market.
I know many people with little or no experience who are currently doing this as a long term investment with great returns.
Look for property close to transport links, check out property portals to find out rental values and prices, this is very important, and once you've found a property you think suits your needs and you've viewed the property it's time to make an offer.
Your offer should be at least 10% below the asking price, AT LEAST!! Don't be afraid to offer low, you should get a no on your first offer.
If the vendor or agents says yes to your first offer your going to kick yourself as you could probably have offered less and agreed the sale.
Remember it is now a BUYERS MARKET.
Take full advantage of this, it may not happen again, and remember the buyer is king.
These investers are seeing returns on their investments increase from an average of 6% to 9, 10 and 11%.
What bank would give you that? The rental market is very good right now, more so than ever in fact, so finding good tenants who'll pay the going rate for property isn't a problem.
Everyone needs somewhere to live right? Those who have been waiting to buy should jump in.
Once the market recovers they will be in a fantastic position with a high yielding investment worth thousands more than they paid for it.
Obviously you will need a deposit, which will be roughly 20% of the value of the property, you may think that's quite high, but if your purchasing at 30% below market value which most repos or even desperate vendors are selling at, then it equates to 10% of the purchase price in a good market.
I know many people with little or no experience who are currently doing this as a long term investment with great returns.
Look for property close to transport links, check out property portals to find out rental values and prices, this is very important, and once you've found a property you think suits your needs and you've viewed the property it's time to make an offer.
Your offer should be at least 10% below the asking price, AT LEAST!! Don't be afraid to offer low, you should get a no on your first offer.
If the vendor or agents says yes to your first offer your going to kick yourself as you could probably have offered less and agreed the sale.
Remember it is now a BUYERS MARKET.
Take full advantage of this, it may not happen again, and remember the buyer is king.