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Three Ways To Make Money in Bricks and Mortar

When it comes to investing money there’s always some element of risk, however, when it comes to bricks and mortar it’s generally a safe bet. Property is, and always will be in high demand- and as a rule, it appreciates (goes up in) value each year. This means that whatever you pay now you’ll get back, plus more later on. Any added extras you do on the property can also boost the price enormously, and all in all it’s a great way to make some serious profit. But there’s more than one way to make money with houses, here are a few options.

Flip Houses

An obvious way to make money with property, and will likely be the first thing that springs to mind is buying and selling. The aim of the game is to buy as cheap as possible, renovate and then selling for a profit. To do this quickly and efficiently, you will need access to a team of tradesmen who are both reliable and trustworthy. An understanding of the property market is also helpful as you will need to know what buyers in certain areas want, as well as things like how ceiling prices can limit you in some places. Not to mention how the effects of peaks and troughs in the property market can impact you.  Do plenty of research, and be sure you’re confident about what you’re doing before going ahead.

Become a Landlord

Renting out properties won’t raise quick cash in the short term, however it’s a great longer-term investment and can give you serious financial stability. It means money landing in your bank account every month without much effort from you, especially if you hire an estate agent to manage it for you. In most areas there’s a shortage of private accommodation to rent, and so you will almost always have tenants lined up and waiting meaning you can take your pick. If you buy a property close to a college or university, you could charge per room to students and make even more. Companies like HMO property investment specialise in this giving you all the advice you need. Another good option is to buy a house or flat near a city centre. Workers are happy to pay a little extra to live within a short distance of their work.  

Develop Properties

Instead of buying old properties and doing them up to rent or sell, why not become a developer and build them from scratch? While you will need money up front for this, it can actually work out cheaper because you avoid pricey issues like pests, asbestos rot and other things that old houses can have. Local councils are always keen for developers to use unused areas of land in towns to build on, as it helps to regenerate the area. On top of this provides more housing for residents as there’s usually a shortage. This is of course a much bigger project, so something that people more experienced in property are better suited to.