Make Money From Property Without Owning It
Make Money from Property Without Owning It
Sounds crazy I know, but isn't that exactly what Estate Agents and Lettings Agents do?
So if they can manage it, can you and if so, how?
Most people would agree that property is a sound investment but not everybody has the time, knowledge or inclination to build a property portfolio and most assume that you need a lot of money to get started.
Changes in the way that landlords operating in the Private Rented Sector are taxed means that many will pay significantly more Income Tax which could lead to the portfolios making a loss. This is possibly 'the straw that broke the camel's back' and has caused a lot of existing landlords to rethink their current position, resulting in many wanting to sell up because they've simply had enough.
However for many landlords it is not that simple because many will be tied into mortgages that carry heavy redemption charges making an exit a very expensive undertaking. On top of that the sale of property can create a Capital Gains Tax liability for the exiting landlord. So it would appear that unless the landlord is prepared to take a heavy financial hit, he's stuck.
We at Creative Property Professionals think 'outside the box' and can help landlords in this situation in various ways depending on their circumstances and preferred outcomes. In essence we can take over the property from them. We'll find tenants and manage the property for the landlord including dealing with any maintenance issues. We'll pay the landlord a fixed amount per month irrespective of whether the property is tenanted or not. This arrangement means that landlord can effectively forget about their properties and get on with life; having taken the necessary steps to phase the exit from property as the circumstances change and it becomes more financially viable.
To come back to the title, there is of course another way of making money from property without actually owning it. That is to simply invest in a property project that is being run by a third party. We at Creative Property Professionals run a number of such projects and offer our investors excellent rates of interest.
We're passionate about win-win scenarios for all concerned, and we're always happy to work for mutual benefit. If you, or anyone you know would like to prosper from our approach, let's talk.
Contact Andrew and Mark