Rental Properties & Home Investing: What Are Your Options?

We are all trying to find a way to earn a little bit more money on the side and for most of us, becoming a landlord is a very feasible option. If you have enough money to invest in another property, it’s is a bit of a no-brainer. By having tenants essentially paying your wages on a monthly basis, it can appear to be a very easy way to earn money, apart from the fact that you are responsible for their well-being in the property. And also, you need to make sure that the place is up to code and safe, because if anything happens, it’s you that will be liable. So when it comes to becoming a landlord or buying a property, are there any other options that make a house a suitable investment?

 

Buy-to-let Properties

This is the standard landlord route, and as monthly rent is a good way of lining your pockets, it is a steady income. This means that if you are gradually making a profit every month, you will be able to break even on this investment. And even after that, you can continue to rent out the property, and still earn more money, meaning you can start putting your finances into other investments, and so your wallet will potentially grow. While all this sounds great, there is that little matter of being a landlord, which means there will be a lot of hassle in terms of fixing issues in the property, as well as meeting tenants and making sure you meet the terms of the agreement by bringing the property up to code. You could hire an agency to do this for you but estate agents cost money, which will reduce your profits and so breaking even can take longer. One option to bypass this completely is to work with a property management company who will do most of the work for you, including refurbishing the property. Many companies specialize in turn key properties, where they will do all the leg work, including the acquisition of the property, refurbishing the place, as well as finding and managing tenants. It can be a lot of work if you are not prepared to find the right people to rent your property. The whole buy-to-let phenomenon is popular in many places, but you need to think about the personal impact on your life before you go ahead with this.

 

Buy To Sell Properties

 

Buy to sell is the other option when it comes to making money off property. You would purchase a property and sell it at a higher value, which can normally take between one and two years, and once you have sold it, this is where your relationship with the property ends. There are some distinct advantages in this, including making a good profit, and it is a bit quicker than buy to rent in terms of earning a sizable chunk of money. In this respect, being a landlord of a buy to let property could take you a few years to earn the same amount that you would get for selling your property. Don’t forget the rising prices of properties, as they show no signs of slowing down anytime soon! And of course, the fact is that once you have sold the property on, you don’t need to think about it anymore. The downsides include time, if you have visions of selling that property with a quick turnaround, it doesn’t always turn out the way you hoped it would. The other downside is the risk. There is a possibility you won’t see a return on your investment at all, and you could lose every penny. This can be down to various issues, one main issue is that you could potentially be unwilling to sell for a certain price, thinking the property is worth more. And the more you stick your heels in, the harder it may be to sell your property, meaning that you may end up selling it for a much lower price. It’s always best to consult a financial advisor in this respect so you know exactly what your options are before pressing ahead.

Property investment is nothing new, but these are two of the most popular approaches to making money out of a property, and while many landlords appear to live the high life, there is a lot of responsibility on their shoulders. Either way you look at it, it is a lot of hard work, so ask yourself if you are up to the challenge!

6 Challenging Careers For The Left-Brained

Left brained people and right brained people both have a different set of strengths, according to studies and science. While right-brained people are more creative and intuitive, left-brained people are more analytical, logical, and objective. They are also thought to have Impressive problem solving skills that can help in numerous different career paths. Here are 6 challenging careers for left-brained people!

Lawyer

As a lawyer, it’ll be your job to represent people in court. You may spend your time defending people, or prosecuting them depending on what you choose to do. You’ll specialize in one or the other. You’ll need to be able to represent good arguments in the courtroom and work to the best of your abilities to help your client. It’s worth noting that sometimes, you may be hired to defend guilty people. You’ll also spend your time interviewing, researching, and taking care of paperwork. No day is the same in the life of a lawyer.

If you have an interest in the law and you want to make a difference in people’s lives, this could be a great career for you.

Accountant

A role in accountancy is great for anybody who has a mind for numbers and a keen eye for detail. You may work in-house accounting for a specific business, for an accounting firm, or even freelance with multiple clients. They can all offer lucrative opportunities. Your calculations will need to be accurate and you’ll need to adhere to the rules and regulations of the place you practice.

There are many similar careers you can look at too, like that of a financial analyst. In this role you may help companies figure out how to better manage their finances and when to do things like buy, sell, or hold.  

Civil Engineer

It’s a civil engineer’s role to improve and protect the environment that we live in. You would plan, design, and oversee construction and maintenance of building structures and infrastructure. You may work on airports, roads, railways, and sewerage systems, amongst other things. You’ll need to come up with great ideas, so an element of creativity is required in this job. You’ll then need to bring your ideas to life!

Scientist

You probably realize how challenging the role of a scientist can be. What your work and day looks like will depend largely on the type of scientist you become. You could become a rocket scientist, an agriculture scientist, an astronomer, or something else. You can focus on whatever your interest may be, whether that’s the stars or human behaviour. It’ll be your job to perform research in your area of study, exploring different methods and techniques of doing things and attempting to answer questions.  You may also need to create papers and reports in your area of study as you go about your experiments.

 

Surgeon

As a surgeon, you’ll need a strong medical background. You’ll review procedures and speak with patients, but most critically, you’ll need to be able to perform accurately and efficiently in the operating room. Some surgeries may be minor, and others may mean you’re on your feet for hours. There are famous pictures out there of surgeon assistants napping in the operating room as they have been standing and working for so long.

You need a high level of focus and concentration for this. You may even choose to focus on one area of the body, like the brain. This would make you a Neurosurgeon. The job may seem tough, but when you see the average yearly salary by country for a neurosurgeon you’ll likely be tempted. Just be prepared for years of training and study before you can practice.

Computer Programmer

If you’re interested in computers and you have a way with things like coding, you could become a computer programmer. You may spend your days creating important software, using languages that the computer can understand to make it work efficiently. You may even develop apps with instructions from clients on what they should do and what they should look like. You’ll need to constantly evaluate and increase the program’s effectiveness to be the best programmer. You may work for companies in house, or go freelance, offering your services to individuals and businesses. If you’re confident in this role, you can make more money this way.

Do you think any of these 6 careers suit you as a left-brained person? Do you know any right-brained people in these careers (it is possible!)? Leave your thoughts and comments below!

Make Property Your Investment Priority

Whether you’re a first-time buyer or wanting to move further up the property ladder for a secure investment; it’s vital that you do your research on the property market and choose your timing accordingly. Making smart choices throughout your property process will help to ensure that you secure your money in the right place and you end up seeing your investments grow and reap the rewards in the meantime.

Rash decisions and spur of the moment plans that haven’t been thought through properly will only hinder your long term and could cost your dearly in the future. Therefore, you need to plan carefully and prepare for your next step in real estate. The following are some tips and areas to consider if you’re buying, selling, or both when it comes to property.

 

Location And The Market

Any real estate agent will understand the importance of location when it comes to property; you can always renovate a run-down building in a great area. However, a great building in an unpopular area will hold little resale value. Therefore, you need to put the areas you wish to buy at the top of your priority list and ensure they are already popular destinations for buyers, or have prospects and are in the middle stages of development.

Schools, health care, and public amenities are a major draw for the family market and young couples; young business professionals will look for transport links and access to work and leisure at the weekend. If you’re buying to live there for the foreseeable future; make sure that there’s everything you need to have a fulfilled life and a straightforward commute to work. You’ll also want to ensure that you can sell and move on quickly in the future and should you need to soon.

 

Timing And The Future

To make the most of your current or future investment; you need o get your timing right, and only sell when you feel you can get the best price for your property or buy somewhere before the area has a boom and prices skyrocket. Sites like HungryAgents.com will help you to understand what you can get for your property, and you should be able to make a quick sale if needed by matching you with agents in your area. It’s vital that you seek professional advice from real estate experts; they will help you secure the top price for your home and will do all they can to make the process as stress-free as possible.
If you’re looking for a renovation project that will give you the best returns in the future; it’s worth researching into up and coming areas that will increase in value in the next five years and more. Check out sites like Forbes.com and discover the 10 Hottest Real Estate Markets To Watch In 2017 for some ideas on where to head next for your property investment. Wherever you choose to head to buy and invest in real estate; look at the history and the potential future of the area before you focus on the building, and your money won’t go to waste.