The Goal of Property Investing

The vast majority of private landlords enter the property investing market because they know that if they get it right they can make a decent amount of money. In terms of long term profit property investing beats savings accounts and pensions hands down, but in order to generate a profit you do need to get it right.

 According to many expert property investors, the best way to make a profit from property investing is to have a goal, or a purpose. They believe that if you have something to aim for you become more aware of your decisions, and the impact your decisions have on your finances both now and in the future.

 So before you enter the world of property investing you really need to think about what you want to achieve and the purpose of your investments.

 Example Goals

 1. To spend more time with family

A lot of younger landlords turn to property investing so that they can give up their day job and leave the rat race behind. This is all well and good but it must be said that property investing isn’t a once a month job where you pop along and collect rent, or perform property and tenant checks. If you’re serious then property investing is an on-going process that involves sourcing properties, visiting and researching potential purchases, checking mortgage rates and new products on the market, solving tenant problems and dealing with complaints etc.

That said, property investing can, in time, become your main source of income and as such it can enable you to spend much more time enjoying life with your family.

2. To provide extra income

Property investing in the buy to let sense will easily provide you with extra income each month providing you have tenants at all times. If this is your goal then it’s imperative that you choose your investments carefully, making sure the properties you choose are of a type that will always be in demand.

3. To provide a retirement nest egg

When it comes to building up a nest egg, property investments beat a pension or savings account 99% of the time. Not only do you benefit from a small passive income each month that can be saved in a high interest account, you also get instant equity if you buy a BMV property and a possible hefty profit if you then sell the property as you enter retirement.

Property investing with the goal of providing a comfortable retirement is one of the main goals for many landlords, and with the right purchases it is an easily achievable goal.

In Conclusion

As a property investor you should have your own goal or goals to work towards and it may be that the reason behind your decision to invest in property is a combination of the examples given above. You need to keep your goal in mind at all times so that you use the best strategy available to you when choosing and purchasing properties.

Hopefully having a purpose, having a goal and having a strategy to get you where you want to go will put you confidently on the path to successful property investing, and from there the world really is at your feet.