The Top 3 Property Investment Strategies for 2024

Hey there readers! Hope you're all well.

No long introductions today, money matters and that's why we are jumping straight to the point!

Investing in property can be a lucrative venture, so lets make sure that you do it right, below are the top 3 ways you can make money from property in Burnley in 2024!

1. Buy Below Market Value: One of the best ways to make money in property investment is to buy below market value. This means purchasing a property for less than its current market value. There are a few ways to achieve this, such as buying properties that are in need of renovation, are un- mortgageable, properties that go to auction or off market properties sourced by E&M. By purchasing below market value, you have the opportunity to create instant equity in the property by renovating it to a habitable condition. This can provide you with a financial cushion and potential for higher returns when the property's value increases over time.

2. Regular Monthly Rental Income: Generating a high regular monthly rental income is another significant way to make money from property investment. By leasing out your property to tenants, you can earn a steady stream of income that can contribute to covering mortgage payments, property maintenance costs, and contribute to your profit. To maximize your rental income, it's essential to conduct thorough market research to set competitive rental rates. Proper tenant screening and ongoing property maintenance can also help ensure a consistent flow of high rental income.

3. Capital Appreciation: Capital appreciation is the increase in the value of your property over time. This can result from various factors such as market demand, property upgrades, and improvements in the area. As the property value appreciates, you have the potential to sell the property for a higher price than what you originally paid for it, leading to a profit. Location, economic development, and infrastructure improvements can all contribute to capital appreciation. Additionally, making strategic renovations and improvements to the property can further boost its value, leading to potential capital gains when you decide to sell.

These three ways of making money from property investment can work together synergistically. For example, buying a property below market value can provide you with a financial advantage from the start, making it easier to cover expenses and potentially earn positive cash flow from rental income. As the property appreciates in value over time, you stand to gain a higher return on your initial investment when you eventually sell the property. Maximizing rental income through effective property management can also contribute to the overall return on your investment.

It's important to note, however, that property investment comes with its own set of risks and challenges. Market fluctuations, unexpected maintenance costs, and tenant turnovers are just a few factors that can impact your ability to make a profit. Therefore, it's crucial to conduct thorough research, seek professional advice, and carefully evaluate the financial feasibility of each investment opportunity.

Did you know that E&M Property Solutions help so many of our clients make great investments in Burnley and the surrounding areas. E&M can source you the best property deals, we can even tackle the renovations for you, we fully manage the lettings process, or if you’d rather sell at a profit straight away we can take care of that for you too!

Whether you're interested in long-term passive income through rental properties or capitalizing on property appreciation through strategic buys and sells, having a clear investment plan can guide your decision-making and help you navigate the complexities of the property market. So give us a shout, we are more than happy to help you invest wisely in Burnley's property market and make a healthy profit in 2024!