Over the past year we have seen a steady increase in property investment strategies. Most of these now include ideas for properties for “buy to let” or “holiday let” purposes. Simply put, the low earnings available via any bank accounts are now so low rate wise – they seem to only suit the longest term cash holding strategies. Comparing this to the potential yield returns on property ownership over 2 – 5 years being ever greater, the temptation to buy and hold property over a longer term period increases.
Property shouldn’t really be for those hoping for a quick fix or short-term gain, unless you wish to buy and flip short-term – to make instant renovation profits. The whole trick with property is to build a small, medium or large portfolio mix – and even though you so get tenants paying you the rent from the first month the move in, you look at annual yields and gains forecasts over the longer-term.
Overall, in our opinion, you should therefore always treat property as a longer term set of goals alongside an aspiration to own a good mix of properties and treat tenants in the best way possible.