Property Entrepreneur Lawton Hopwood Brings Expertise To The Table

Be aware, says Lawton Hopwood – the CEO & Founder of Hopwood Homes, that not all properties or areas offer good rental investments and hence it becomes vital to do your homework well before leaping into a vast financial commitment. Property is one of the most exciting yet risky investments for just about anyone. Lawton shares some golden advice for real estate enthusiasts who wish to do business in this arena.

Advice #1

When the market changes dynamically and the economy declines, secondary property owners quickly find that the cost might outweigh their benefits. At such times, the rental market will also come under pressure during an economic decline. Fewer people will be needing rentals and you may need to lower your rental rates.

It is important to understand that if you are looking at investing in a rental, you need to do so with a long-term view. Not just in terms of the property value but also how you could hold out an economic downturn.

Advice #2

The location of your real-estate property is vital, be it in areas of good schools or crowded places, amenities and convenient access to business and commercial nodes. These conveniences tend to be in demand regardless of the state of the economy. Specific areas bring a sudden economic or development boom and this leads to strong demand for rental premises and in turn boost real-estate investments in the region. Bear in mind though, that the boom is subject to market conditions and may never be the same always.

Advice #3

Property investments never come cheap and are a costly affair. In addition to the acquisition costs, there are expenses that are ongoing – such as the monthly repairs and services as well as the yearly property tax, insurances and maintenance that upkeep the real estate property. Even the most affordable property ranges tend to be most in demand regardless of the economic and market cycle. When it comes to holiday accommodation, anything close to beaches or tourist attractions or with great views would command higher rates – however if the business runs, it could fathom greater profits!

Advice #4

Not having reliable and trustworthy tenants can turn into a nightmare for your property investments. Ensuring that you have good tenants who will look after your property, and that you can always hope for them to pay their rent on time is vital. Even a 1-3 month delay of not having a tenant can quickly become very costly to a landlord. Make it a point to assess whether you are investing in an area where there is shortage of stock in real terms. This has to be matched equally by high demand. Check how sustainable the demand can stay not just now but also in future.

Hopwood Homes has served the all across the NorthWest of England, the area’s growing need for new property and real estate projects through impressive integrity and a commitment to delivering results with the highest quality standards. Their professional team works closely with both investors and landowners in order to come up with results that exceed expectations. Browse the rest of information through their website – Hopwood Homes.