If you are investing in property an independent property advisor (IPA) can save you time in a number of different ways… regardless of whether you are new to property investing or a well-established landlord. An independent property advisor (IPA) is a property professional who uses different strategies to provide a bespoke and personalised service. In this blog post we will explain how the different strategies they use can help property investors today!
Buying an investment property
If you are looking to purchase an investment property an independent property advisor (IPA) can help you with this task in a variety of ways.
Firstly, by speaking with an IPA in the area you wish to invest you can get specific advice about property investing in that area. For example, they can advise on which type of rental strategy may suit the area or what type of property you should look to purchase to maximise your return on investment. Getting this local insight & learning from someone else’s experiences can save you time & money!
Secondly, an independent property advisor (IPA) can also help you when it comes to finding an investment property to purchase. It can be time consuming searching the internet for suitable properties & going on property viewings.
However, you don’t have to do this if you don’t want to or if you don’t have the time to A local IPA who offers deal packaging (also called deal sourcing) can do this for you. As a deal sourcer, an IPA can do as little as helping you find a suitable investment property to as much as orchestrating the purchase of the property for you…. saving you the admin.
Renovating an investment property
Once you’ve purchased an investment property you may need to renovate or refurbish it. Renovating a property may be part of your investment strategy, helping to increase the value of the property & provide you with a return on your investment. Alternatively, if your investment strategy is to rent out a property, you may also need to renovate it to make it a suitable standard to rent it out &/or maximise your rental income.
Renovating a property can be a stressful & time consuming process but an independent property advisor (IPA) can help in a number of ways. Firstly, an IPA who is local to your property could help oversee the renovation if you aren’t local or don’t have the time. Using an IPA to project manage & oversee a renovation in this way can also save you money in the long-run as they will have connections with local tradesmen & suppliers.
Secondly, an IPA who has experience renovating property in the area local to your renovation may have invaluable knowledge when it comes to understanding the likely costing for a renovation & its time-scale. This can be hugely beneficial if you aren’t experienced renovating properties. Particularly, if the renovation of the property is important in providing you with a return on your investment, as miscalculations in costings &/or time-scales could significantly affect this!
Managing an investment property
If your property investment strategy involves renting out a property to generate a monthly cash-flow, an independent property advisor (IPA) can help you with this process in a number of ways.
As we’ve already discussed above, they could help you with this by just giving advice based on their experience renting property in the same area. This could help you to decide which rental strategy may be most suitable for your property or provide you with the greatest return on your investment. There are lots of different rental strategies being used in today’s rental market but their success is hugely dependent on the type of property & its location. If this is something you don’t have experience with an IPA could provide you with invaluable insight into your investment area.
Alternatively, an independent property advisor (IPA) can also help you to manage your rental property. Similar to a high-street letting agent, an IPA can offer a lettings or management service. However, unlike a traditional letting agent they are more familiar with different rental strategies such as houses of multiple occupancy (HMOs), serviced accommodation & student lets.
Lastly, if you didn’t want to have any involvement in the day-to-day running of your rental property you can work with an independent property advisor (IPA) who offers a corporate let. This means you won’t have any landlord responsibilities (the IPA will have those instead) whilst you benefit from a guaranteed rental income each month.
Joint venture investment opportunities
Another way an independent property advisor (IPA) can help you to invest in property is by providing you with joint venture investment opportunities.
If an IPA has experience in a particular property investment strategy they may offer investors the opportunity to work with them. This way an investor can benefit from the experience & expertise an IPA has in property whilst still getting a return on their investment. This type of property investment is typically more hands-free for the investor.
If you are a property investor who would like to benefit from the different strategies used by an independent property advisor (IPA) you can use Doormarked today to find your independent property advisor (IPA). They will work with you to achieve your property goals, overcome your property challenges and deliver you with better outcomes.
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