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Word Count: 385
Character Width: 60
Resource Box: Peter Stanley at www.bookshaker.com
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"Property Investing - A Numbers Game Or As Easy As 123?"
- by Peter Stanley
(c) Property Made Simple. All Rights Reserved.
http://www.bookshaker.com
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People think that property is complicated and that you need
to be a rocket scientist to get involved, but I can promise
you it's an urban myth.
Other people think that my finance background makes it
simple for me, but whatever you're good at can be used in
the property arena - you can use spreadsheets for the
numbers.
I was talking with a novice investor recently about how to
get involved and we spent some time talking about the
investment process.
Let me spell it out for you - work out the cost to buy, add
the refurbishment costs, then take that number away from the
value when you've finished your work.
See, I told you it's simple.
I'd go a step further and say that if the numbers don't
stack up, then don't buy it. There are many people who are
looking for a renovation project and when they run through
the simple calculation above, they find out that they've paid
more, in time and money, than it would have cost them to buy
a house in good order. As my dad says, if you want to work
for free, you'll never be short of work!
As some of you will already know, I try to manage the
systems rather than work on the houses myself. Whilst I can
do the work, I'm slower than a tradesman and the results are
noticeably that of an amateur - so I price in for someone to
do the work for me.
Again, it's a matter of calculating the costs for each of
the jobs, but it also means I can leverage my time more
effectively and run more deals at once.
For other people, this means that they can build a
portfolio, whilst holding down a day job, which also means
they can invest without needing an instant income.
When I speak to my clients about a new deal, they ask me for
the numbers first and the detail second.
But going back to your individual skills, I still take the
opinion of someone who was a local visiting chiropodist, as
she knows all of Tameside like the back of her hand and can
tell me in ten seconds what an area's like.
If you're still not convinced, read my book or get in touch.
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Do you watch the property investment programmes
thinking that this is the way out of a job you
hate... but don't know where to start? Then you
need to read Property Made Simple. Buy it here...
http://www.bookshaker.com/product_info.php?products_id=129
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