Of course,
any investment strategy involves some level of risk and this is especially true
for investors starting later in life who only have a shorter period to grow a
sufficiently large property portfolio to help fund their retirement.
Some of the many risk mitigation strategies include:
- Having a financial buffer in place which will allow them to cope with
any unexpected maintenance or vacancies.
- How to purchase their properties to in the most tax-effective manner and
in the correct structures.
- Income protection and life insurance as well as landlord’s insurance to
protect their interests.
- Estate planning because, while we never like to talk about it, it's
important to plan how we’re going to look after our family. This will include
seeing a solicitor and preparing a will, choosing executors and organising a
power of attorney.
- Finally, it’s important that our clients treat their investments like a
business and regularly review their portfolio with their property
strategist to track its performance, ensure they have the right loans and
best interest rates, and assess when they're ready for their next acquisition.
RealRenta has all the tools that a property manager has but for less
than ¼ the cost of a property manager.
You can now manage your Residential,
Commercial or share/student accommodation property
Join now and the cost is less than a cup of coffee a week to manage your
rental property.
RealRenta also has a free vision, so why not check it out.
Jason Gwerder
Thursday, 25 July 2024
