It's that time of the week again! Yes, it's Q&A Sunday which means Samuel is taking the hottest questions from the property investor community (that's you guys) and answering them. If you've got burning issues on your mind, niggling questions which aren't being scratched then you should leave a comment in the section under this video on YouTube so you have a chance of being responded to next week!
There is so much value being dropped in this episode and here are three of those gems:
What kind of checks do you do for prospective tenants to make sure they are decent?
Samuel says tenants need to do two simple things – pay on time and take care of the house. There are numerous checks which can be run to ensure these happen, but he recommends hiring a good property management company to take care of it for you. The most important check which you can carry out yourself, is getting in touch with your prospective tenant's previous landlord (not their current one) – they will be able to give you an honest review.
I'm working alone. Is it possible for me to be successful?
Yes, it is possible. Like anything, it's easier with a good partner but if that's not possible you can achieve success independently. However, Samuel highly recommends that you get out there and network so you can have a strong circle of property friends around you.
What is the best way into property if I have little time?
If you are hands-off, time-short but ready to invest cash – you need to be careful, according to Samuel. People will try to take advantage and unless you are educated, you will lose. You must work with trustworthy people and get solicitors to draw up agreements before you start a joint venture. However, joint ventures would be the ideal way into property for you if you are short on time.
