Monday, October 31, 2016

A Profitable Future Is In Reach With These Inspired ideas

profit making matters
Working everyday from nine to five is the story of many peoples lives. Some are quite content with that, often earning a decent crust from their jobs or careers. Others want more. More financial security for the future and more disposable income for all the luxuries that life has to offer. However, working nine to five each day doesn’t exactly give you the opportunity to make more money or smart investments, right? Wrong! This is why I thought it would be good to share with you some of the inspired ideas you could put into practise to give yourself a profitable future.

Buying and renovating homes in your spare time

Many of us will be well aware that property is a solid investment. Most people tend to only invest in the property they live in, but this could be a missed money making opportunity. For some entrepreneurial people out there, they choose to buy additional properties to renovate and sell on for a profit. Using their spare time and then once established a team of people to keep this process going. Of course, you need an initial amount saved up as your first investment. But once the first one is out of the way, which is usually the hardest, you are good to go.

Investing in a property abroad

If DIY work isn’t to your taste it doesn’t mean that property investment isn’t for you. There are other options to consider like buying a property abroad or investing in a holiday let. This can make you quite a bit each month in rental income alone, alongside the initial investment of property which over time will increase. There are some great rental locations to consider like America where places like pelican bay in Florida can be profitable. Or sticking with something European or closer to your own residence.

Fixed saving plans for long term goals

Do you just want your income to work harder for you? Are you bothered about about instant access? Then there are some great fixed savings options you could consider. These tend to offer higher interest rates for customers and allows your lump sums of savings to be much more profitable. It means earning more for those long term savings goals which could include further investments in the future. If you have no need to access the funds now, then you may as well give yourself a profitable future from it for when you do need it.

Start a business or money maker from home

Finally, another great way to give yourself some more financial security is to use your spare time to start up a business from home. It could be as simple as turning a hobby of yours into a money maker. People have had great success from starting blogs at home or selling items they make on websites like Etsy. Even just using online tools to earn extra money. This means performing things like mystery shops or completing surveys. There are plenty of ways you can earn extra income online. Just look at what you have at your disposal and what skills you have.

I hope this has inspired you to give yourself the chance of a profitable future.

Monday, October 24, 2016

Are Dollar Doldrums Around the Corner?

currency interests
Once again, online Forex investors may be in for a wild ride over the next two months. While a good deal of focus has been placed upon the European Union and the potential fiduciary impacts of the Brexit, the fact of the matter is that the United States dollar has taken a turn for the worse. What indicators have we seen change over the past month and more importantly, what can Forex enthusiasts expect for the remainder of the year?

Waning Consumer Confidence

Consumer confidence figures have always been a relatively important benchmark in regards to the state of the domestic economy as a whole. Recent statistics have shown that the Consumer Confidence Index (CCI) for October missed predicted expectations of 101.5; falling to a rather gloomy 98.6 points.

However, this is not a surprise in many Forex circles. Hints of a contraction were seen when the Michigan Consumer Sentiment Index fell from 91.2 (September) to 87.9 (October). We should mention here that this has been the weakest reading since September 2015 (1).

Mixed Feelings

There is no doubt that these indicators will have a negative impact upon the value of the dollar within international trading circles. However, analysts have also noted mixed reactions from many consumers. While their confidence seems to remain high in the present, some feel that they are much more wary in regards to the future economic outlook of the United States. It can only be assumed that such a stance may be associated with the upcoming presidential election taking place on 8 November (2).

Trump Versus Clinton?

One of the most disturbing observations which is likely to weigh heavily upon investors is the fact that neither electoral candidate has put forth any type of solid plan for dealing with the domestic economy. It was hoped that this would have been given more priority during the final debate and yet, acrimony ruled the floor.

One a somewhat positive note, Hillary Clinton appears to be leading in the polls and many analysts believe that she is a viable alternative to what can only be called a lack of clarity on the part of Trump whenever economics are mentioned. To put this another way, Clinton may indeed be the lesser of two evils in reference to bolstering the domestic situation. Unfortunately, voters seem to be less than satisfied with either option. This has likely resulted in the aforementioned drop in consumer confidence levels.

The Role of Consumption within the Domestic Economy

Why is consumer sentiment so important when compared to the medium-term value of the dollar? Forex investors need to appreciate that this reading represents much more than mere emotional confidence. We should mention that consumer spending has equated to no less than 70 per cent of the gross domestic product (GDP) of the United States in 2016 (2). So, it is clear that any faltering outlook could have a decidedly drastic impact upon profit margins for both large and small companies. This fall has been highlighted by changes within both the Present Situation Index and the Expectations Index.

A Falling Dollar

If anything, a drop in the value of the dollar may be welcome news to those who have been watching the British pound slide to unprecedented levels. Any depreciation could result in a more favourable GBP/USD relationship; allowing investors to embrace a medium-term profit-taking strategy.

It is also relatively certain that post-election economics will stabilise any short-term falls in the value of the dollar although the same might not be a realistic expectation in regards to consumer confidence; particularly if Trump takes the Oval Office.

Watch and Wait

Once again, it appears as if Forex traders will be forced to adopt a watch-and-wait stance until more concrete data presents itself. The Consumer Confidence Index is notoriously fickle and this is even more of a reality before an election. Considering that this has been the most important and fickle presidential campaign in decades, it is only logical that the domestic economy of the United States is on shaky ground. The coming weeks and months will serve to solidify any directional movement to carry forward into 2017.

Sunday, October 23, 2016

Inherited a Home? You Need to Explore All Your Options

buying & selling home
A lot of people think they know what they would do with a property if they inherited it. But it’s not always as obvious as you may think it is. When you’ve actually inherited a property, you may realize that what you thought you wanted to do actually isn’t all that ideal. Besides, the others options may not seem all that obvious to you. After all, the circumstances in which you inherit a property are hardly times that allow for calm thinking.

So here’s a quick list of things you can consider with a property you’ve inherited.

Live in it

Well, I guess this is the most obvious answer. In fact, it’s what most people assume they’re going to do when they’ve inherited a home. But it’s not always so easy when the time comes. You may have settled down somewhere completely different by that time. And uprooting just because you’ve inherited another property isn’t going to be as easy as some make it out to be. And even if that did seem like an attractive proposition at first? People sometimes find that they don’t want to live in the property simply because the thought of it makes them sad. So what are the other options?

Sell it

This is the option a lot of people go for. Of course, not everyone wants to sell the property they’ve inherited. It’s worth bearing in mind that whoever left you the home may very well have wanted you to sell it. After all, it can result in the monetary wealth that they may have preferred to have left you. If you’ve decided that “sell my house fast” is the answer, then there are plenty of routes you can take to maximize the cash you get. Still, you may want to hang onto the property for now. In which case…

Rent it out

If you’re okay with other people living in the property, then why not rent it out? This allows you to have what many would call a passive income. It isn’t actually that passive, though. You’re technically a landlord in that situation, and landlords need to be active in the endeavor! Being a landlord isn’t exactly something everyone wants to do with their life, however. It might be worth looking into getting property managers to help you out in such a scenario. In any case, renting it out allows you to keep hold of it without having the potential pressure of moving into it!

Use it as a vacation home

Okay, so it may seem like a strange idea at first. It’s probably not all that likely that the property is in some idyllic vacation destination. But a break away from home doesn’t always mean getting away to some exotic location. If you ever need to get out of the place you currently live in for a while, then you’ve got another place to stay! Of course, if the property you’ve inherited is someone exotic like the Florida Keys or Nice... Then you probably already decided to use it as a vacation home!

Saturday, October 22, 2016

Money Woes? Get Street Smart About Managing Your Wealth

managing wealth
It’s always rather nice to have something that could be accurately called “wealth.” But are you actually managing your personal wealth effectively? So long as your net position is in the black, you’ve got assets to play with. But knowing how to navigate all its possible uses can be difficult.

Here we’re going to investigate some sound wealth management principles. Here’s how to get street smart about managing your wealth.

Start Retirement Planning Early

All the best financial advisors agree that people should start planning for retirement sooner rather than later. There’s an enormous difference in the amount of money you can build up if you start saving in your twenties, rather than your forties. Over a period of forty years, compound interest quickly adds up to some dizzying numbers. Say, for instance, you put away $1,000 at age 25. Most retirement savings earn around 4 percent per year, on average. So how much money do you think you’d be left with by the time you reached 65? It turns out that that humble $1,000 will grow to more than $4,800 after 40 years. Now imagine just how much money you could save if you saving $1,000 every year of your life. By the time you came to retire, you’d have a handsome sum to live on.

The bottom line? By starting retirement savings early, you can build a savings pot that will allow you to do the things you dream about.

Make Your Goals Achievable

Your goals inform the way you manage your money. For instance, if you want to live the high-life, then there’s no point just putting a few extra dollars into your 401 k. You need to take big risks if you want to get big rewards. For instance, one of your wealth management goals might be to set up your own company. This is a route to getting a big payoff. But it’s also a risky venture that may leave you broke.

If your ambitions are more modest, like owning a home, shift your financial plan accordingly. Don’t bother playing around with high-risk shares on the stock exchange. Invest through tried and tested means in companies that are sure to provide a return.

Play The Long Game

There are, in general, two distinct types of investors. There are those who play the long game, and there are those who want to make a quick buck. If you want to manage and build your wealth, it should come as no surprise that you should play the long game.

Just look at the returns that gold bugs saw back in the 2000s. Gold was down at a mere $300 an ounce around the year 2000. From 2000 to 2011, the price of gold shot up to more than $1,800. During that entire time, those who bought gold were told that it was a bear market, or that gold was in a bubble. And yet they continued to hold onto it nonetheless. The people who played the long game and ignored the vicissitudes of the market did better than those who didn’t. There’s an important lesson in that.

Friday, October 21, 2016

3 Financial Mistakes Too Many Contractors Are Making

mistakes in finance
Take it from a professional blogger, contractors and freelancers can be an odd bunch! While more conventional entrepreneurs generally have a rich history of experience in managerial positions, and an intimate understanding of what makes a business tick, a lot of contractors and freelancers simply start with a skill, and a drive to succeed. While this can get you some of the way towards success, you’re going to run into some massive problems if you make these common financial mistakes…

First of all, being too blasé about the accuracy of the financial information that you’re getting. Talk to any accountant specializing in contractors, and they’ll have had countless times where they’ve gone through a contractor’s books and statements, and had to mark various figures which weren’t correct. They’ve probably also had a lot of clients that knew there were discrepancies, but thought they were in the right area and took that as an excuse not to worry about it. If there’s one thing in your financial records which you certainly should be worrying about, then it’s inaccuracies in your books! This kind of slip-up can stem from a number of different areas. Your take-home expenses may not match your revenue figures, and depreciation expenses may not be entered often enough. Revenue, materials and direct labour can also slip through the net.

Next, taking care of every little facet of your finances yourself. While this is certainly understandable, it’s not something I can condone if you want your books to remain as consistent and manageable as possible. You have an entrepreneur’s mindset, and as such you’ll probably want to stay as independent as possible in everything to do with your business. However, an extra pair of eyes can be extremely useful for lot of things, and managing your finances is certainly one of them. If you don’t run everything through an accountant, you could end up missing out on some very substantial tax-deductible expenses, or even worse unknowingly commit a crime! Look for some firms such as Taxup accountants, and find a service that will help you steer clear of these mishaps.

Finally, failing to compare your current financials to your previous budgets and periods. It may be time to take out your latest financial spreadsheet and consider whether or not it has enough columns. If you don’t have a ‘percentage of sales’ column, a prior-year comparison or a comparison to budget, then you’re never going to have financial records that are quite what they should be. Although the present is obviously the most pressing issue or your business, a keen understanding of your past business is integral for success in the near future! You need to be able to see whether your business is getting better or worse, and the causes behind this trend. Are your sales going up or down compared to previous years? Are your overhead expenses fluctuating often? These are the kinds of questions you need to be asking to get a good handle on your business’s finances; past, present and future.

Thursday, October 20, 2016

Bouncing Back From A Financial Disaster

financial disaster
You may not have thought it, but pretty much everyone hits some kind of unexpected financial disaster at some point in their life. Sometimes, this can come from a simple stroke of bad luck. Our stocks can plummet, we can be let go from our jobs, or a medical emergency can throw everything in the air. At other times, it’s something we bring on ourselves, through a failed business or investment. While bouncing back from these hard times is certainly tough, it’s not impossible. Here are a few pointers for overcoming your financial crisis.

As with a lot of big challenges in life, your first step to bouncing back from your loss should be adjusting your attitude to the whole situation. Losing a large amount of money isn’t fun. In fact, in a lot of cases, it can push people over the threshold into depression. While it’s understandable that you’ll feel extremely dejected after a financial disaster, wallowing in this feeling isn’t going to do you any favors. You need to adopt a more pro-active attitude, and face your problem head-on. Instead of seeing it as the tragic end of something, treat it as an opportunity for growth. Think about where you went wrong, and make a point of learning from your failures, rather than dwelling over them. As that old saying goes, “there’s no point crying over spilled milk.”

My next piece of advice is more a warning: don’t make things worse for yourself! When a lot of people hit a financial rough patch, they naturally start to panic, and can end up clutching at straws or making rash decisions in an attempt to recover from their financial hardship. Yes, you shouldn’t just sit around, and trying to gain a better understanding of your personal finances will certainly help you in the long run. However, you should approach any promises of a quick fix with extreme caution. When you’re looking for an emergency funding source, you’ll certainly be spoiled for choice! We all run into money problems here and there, and in recent years this has given rise to people who are prepared to take advantage of this. Payday lenders and credit repair services are everywhere these days. Although you might find one or two diamonds in the rough, be sure to approach these kinds of businesses with extreme caution. A lot of them are scams, and bleed even more money out of people who really can’t afford it.

Next, have a look over your personal budget, and pick out areas where it may need revision. If you want your financial future to be a little brighter, then it all depends on what you can do in the present. If there’s one cornerstone to a good budget, it’s having a decent cash cushion for those rainy days. However, if you’re struggling with money as it is, it can obviously be a little hard to stick to a savings plan! It will be hard, but make sure you’re thinking about the future. In a lot of cases, going through a financial crisis can have the positive off-shoot of shunting you into a more solid personal budget. Make sure your new one is going to include a savings plan. Even putting $60 a month into a healthy savings account can do a lot to keep you on track for the next time life pulls the rug from under you.

Finally, if you’re reading this because you lost your job, then make getting back to work your number one priority. The obvious reason here is that having a steady stream of income will help you to get your personal finances back on track. Aside from that, when you have somewhere to be and tasks to complete, it can be a great booster to your self-esteem. Despite what my can-do tone in this post would suggest, I despise job hunting. There’s nothing worse than scouring every source you can and tailoring your cover letter for each individual position, only to get rejected time after time. Although it’s daunting and frustrating, finding employment when you’ve fallen on tough times can certainly be done. If the jobs in your particular field are particularly sparse, then don’t be too proud to take something a little lower-paying. It doesn’t have to be your future career; just a means to an end. The lower prestige and income won’t last forever. Furthermore, your future employers will be well aware of the various financial challenges that everyone has to face here and there. Don’t think that taking a step down will be a crippling stain on your resume!

Wednesday, October 19, 2016

Expert Tips To Get Your Personal Finances In Good Shape Following An Accident

all ok in finances
Most people struggle to keep their personal finances in order. Life can be very expensive, and we all make financial mistakes from time to time. But, there are also times where things can happen that affect your personal finances. For example, you get into an accident and become injured. When this happens, money can become a real problem area in your life. There’s a lot that needs to be paid for, and you could miss out on money from work too.

In a scenario like this, it’s even harder to keep your personal finances in good shape. So, I’ve decided to gather a few expert tips that can help you sort things out after an accident. Check them out down below:

Start Working From Home

If your accident was severe, then you may be unable to do your usual job. For example, let’s say you worked a job that required you to stand around a lot and lift things. An accident can hinder your ability to do this. As such, you’re forced to take months off work. In some cases, you might be able to recover and receive sick pay from your work. But, there are times when you might be forced to leave your job. If your injury is really bad, you could be forced to become unemployed. In which case, you should look for alternative ways of making money. Have a look at some jobs that allow you to work from home. A freelance writer is the first thing that pops to mind. There are loads of jobs available that allow people to work from home nowadays. This means you can get some regular income, and keep your personal finances in good shape.

Check If You’re Eligible For Benefits

There are many cases in which you may be eligible for benefits after an accident. If you get put out of work, then you could claim some income support to help you out. There are things like SSDI benefits for people with disabilities. So, if your accident has left you disabled, you could claim these benefits. The whole purpose of benefits is to provide you with financial support when you’re in trouble. People’s lives can be turned around by a bad accident. Money could be hard to come by, and you need all the help you can get.

See If You Can Take Legal Action

Most people that get into an accident are entitled to take legal action. Especially if the accident wasn’t their fault. You should seek legal counsel and talk to a lawyer about your situation. They can assess your position, and see if you have a serious case. If you do, they can get to work helping you gain compensation. Win your case, and you can gain a lot of money. This should help you pay for things like the medical treatment you needed after the accident. As a result, you gain money that you weren’t expecting. It helps keep your personal finances in order and gives you less to worry about.

If you get into an accident, i strongly advise you follow these tips. They’ll help you take care of your personal finances, and worry less about money.

Tuesday, October 11, 2016

Car Rentals: Are You Saving Money The Right Way?

rented car
Whether it’s for a vacation, business or a way of getting around while your car is fixed, car rentals can come in extremely useful. But, in times of desperation, we often don’t take the time to think about our expenditures. There are a whole host of ways to save money when renting a vehicle, and you should be aware of them. Let’s take a look.

Stay Away From The Airport

It might be convenient, but booking your car rental to pick up from the airport is a costly way of going about it. These companies know that you want the convenience factor, and you better believe they’ll charge you for it. It might be more beneficial to collect your vehicle close to your hotel, for example. Unless it’s going to cause you a significant amount of stress and hassle, it’s always best to avoid the airport.

Can You Make A Claim?

Who’s to say that you can’t make a claim for a free car rental? Some insurance policies come with car rentals included when your car is out of action. Study the documentation you have, and you might find that you don’t need to pay at all. And, in the event of something like a crash, rental car costs can potentially be recovered. Some attorney websites like can evaluate your case for free in a situation like this.

Make Use Of Your Discount Cards

All those membership organizations you belong to might just come in handy! You might even find that the type of credit card you use can get you a discount. Rental agencies often allow discounts for all sorts of reasons, bringing the cost down considerably. It’s also important to remember that some companies will allow better discounts for certain times in the week and the year.

Reserve The Car For Longer Than Necessary

There are two good reasons why you should do this. First, it prevents you from overstepping the limit and being forced to pay extortionate prices as late fees. Secondly, it can help to lower the rate that you pay due to your extended rental term. You might find that you don’t benefit when you return the car, as they might just charge you a higher rate. But, some companies will give you the benefit of the doubt and lower the cost if you didn’t use all the allotted time.

Book Ahead Of Time!

There’s no easier way of saving money on a car rental than to book well ahead of time. If you’re waiting until the last minute, you’re bound to struggle. Availability can often be poor, and you’ll be left with the expensive scraps. Plan ahead of time, and use the internet to your advantage in your search for the best deal. Websites like can help you with this.

Now, you should be equipped with the tools you need to save money or completely eliminate the cost of your next car rental. It shouldn’t feel like such an expensive way of getting around from now on.

Monday, October 10, 2016

The Key Questions to Ask Before Investing in Buy-to-Let

points before investments
When you invest in the buy to let market, you are, in essence, running a business. In this sense, it is unlike many other investment platforms, which are a lot more hands-off. With this in mind, there is a lot to consider and many questions to ask yourself before you invest a penny. In today’s guide, we’re going to go through some of the key issues that should be at the forefront of your mind.

Is it the right time?

Buy to let investment is a great long-term plan for making your money work harder. But there are no guarantees. There are a lot of responsibilities to consider, all of which take a lot of time. You will need to balance the commitment of looking after your investment with work and family duties. Chasing rent, arranging repairs and all the other things involved with buy to let is a major time commitment. If you are busy in other areas of your life, it might be worth holding fire for the time being. You can get help from lettings agents, of course, but this will come at a cost to your profits.

Is it the right place?

The location is everything when it comes to buying to let properties. Your aim should be to seek out buy to let properties in up and coming areas, where you can buy cheap, and sell on at a later date when the value increases. Doing this will also give your income a boost, as you will be able to raise your rents as the average rental price increases over time. This is all dependent on rising house prices, of course. But in general, terms, if you do enough research you will be able to identify the right areas that big developments are starting to appear in.

What sort of tenants do you want?

Happier tenants tend to take care of their homes a lot more than those who feel they are getting a bad deal. So, while you might feel that maximising your space and filling up the house with students, for example, it isn’t always the best choice. They will have void periods over long stretches of time, too, meaning your income will drop significantly over the summer. As long as you can balance your books, you should have no problem, but it is something to bear in mind. The safer option is to rent out to families. They will be looking for longer term periods of renting, and tend to take care of the properties a lot more. The important thing to remember is that all of your tenants will have different needs. It is your job to deliver a home that answers each of them.

Are you getting the income you need?

Of course, the idea behind all of these considerations is to ensure you are making enough money. You will have mortgage repayments, maintenance costs, insurance and a lot more besides to pay out every month. You will also need to set aside some money to pay tax on any profits. It’s also important to remember that property values and rental prices can fluctuate a lot. With this in mind, you should always be on the search for more properties in different areas, to protect you against any losses.

Hope this guide has helped - good luck with the buy to let investment!

Wednesday, October 5, 2016

The Secret Behind Making More Money From Your Home

growing money at home
If you are thinking of selling your home, then you are probably keen to make as much money as possible from it. The good news here is that there is plenty you can do towards that end. Selling a home can be, at times, exhausting and even frustrating. Anything that you can find to help the process along is likely to be worth considering at least. It is always a good idea to take things relatively slow when it comes to something as significant as selling your home. However, be sure not to let it go on too long. This can often lead to further stress. It might even make the value of your home go down even more. Let’s take a look at some of the key aspects of making more money from selling your home.

Remember: The Devil Is In The Details

With anything of this magnitude, you want to be sure that you are getting everything right. Even the smallest error can lead to something much more significant later on in the process. This doesn’t mean that you should be anxious about everything that you do. However, it does mean that you should do your best to pay attention to the smaller details. This applies to several different aspects of the entire process. One such aspect is the actual procedure itself. In all dealings with the estate agent, be sure to check over the paperwork carefully. The last thing you want is to find that you have been duped. The same approach should be applied to the home itself. Work hard to ensure that you keep the home in as good repair as possible. That means fixing any problems it might have, no matter how small. People tend to be very eagle-eyed when they are viewing homes, so be careful.

Have Patience

Selling your home can take a long time, so it is best to exercise some degree of patience. Chances are, you might be waiting a long time for anyone to express interest in your home. However, it all depends on the condition of the home and the market at the time of trying to sell. If you are keen to sell as soon as possible, however, then you do have some options. You could consider using an online service designed for speed. They will often buy houses fast, making the process a lot easier and quicker for you. This can be a viable option if you are more concerned with getting the process over and done with as soon as possible.


When you do get an offer on your home, the last thing you should do is just accept it. Negotiating is a hugely important part of the process, and it really can make all the difference. When your realtor comes back with a price, you should feel able to offer a retort. To help you argue your case, make a list beforehand of all the positive attributes of your home. If you have something to back up your argument, your success is much more likely.

Tuesday, October 4, 2016

6 Critical Mistakes Made By Rookie Real Estate Investors

real estate Matters
Are you thinking of joining the ranks of the many thousands of people who invest in real estate? It’s an appealing proposition, for sure. But the problem is, a first-time real estate investor you can experience something of a bumpy ride. There are numerous pitfalls on the road ahead, and you need to be aware of the most common - and critical - mistakes you might make. Read on to find out more and give yourself the knowledge you will need to succeed.

The quick win

Real estate investment is a long-term game - it’s as simple as that. Yes, some people get lucky and buy at the right time. But it is not easy to make a profit on selling homes and premises in any sector or location. There is a lot of hard work involved, and if you have a job there simply isn’t the time to turn a fast profit. You are far better off seeing real estate as part of your long-term saving plans.

The homework

Your biggest weakness as a first-time investor is your lack of experience. It is critical that you educate yourself in the processes, and seek out help from people who have done it all before. It might cost you money to hire a consultant, of course. But if it saves you tens of thousands, it’s always worth it.

The emotional pull

Successful investors never fall in love with a property. They see everything just as it should be - an investment opportunity. Don’t let your emotions overcome you when bidding for anything. You just end up paying over the odds.

The wrong location

The location is everything when it comes to making a real estate investment work. And understanding the science of location, location, location is vital to your success. It is imperative that you study the suburb you intend to invest in, and it can take months to perform the right levels of due diligence. Sometimes, it can be better to go for the small uptown condos in an up and coming area. They might just bring you a better return than the expensive mansion house in an already expensive location.

Misjudging the expense

Let’s say you are investing in a buy-to-let piece of real estate. You blow your entire budget on the purchase of the property. But you haven’t accounted for the sheer amount of work that you need to perform to get it up to scratch. You might have to end up for renting it out at lower than the market value, which will have a knock-on for your ability to pay your mortgage. Then something breaks down - a boiler, for example. Pretty soon, you will be facing the potential of losing your property and all the money you have invested. It takes money to make money - and you should always have a sufficient amount kept by for repairs and maintenance.

The DIY plans

Many people dream of the idea of buying a property, renovating it themselves, and turning a profit. But unless you have the skills of a builder, plumber, electrician and home inspector, you will be doomed to failure. You have to assemble a team that can carry out work to an appropriate level. Or, you just won’t be able to build a business out of your investment at all.