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Whether you’re holding a C$1.7 million purse and looking to purchase your first home or broke and looking to buy an additional property as an investment with a view to doing it up and selling it for profit (known in the trade as ‘flipping’) the one core requirement is financing the project.  See, you can find the best investment property there is; but if you don’t have the finances to make it happen – your vision as a property investor will leave you feeling disheartened. Emerald Management is a company that can suit any budget and can cater to any lifestyle.

If you are new to the property market, https://www.1stukmortgages.co.uk/ might be a good place to take a look at for securing your first mortgage.  Interestingly, whilst the credit crunch has made it much more challenging for most of us to obtain credit, the concept of a mortgage offers much more security to the financial institution as it is secured on the house itself; ultimately if you default then the bank can take ownership of the property – meaning they have tangible recourse, unlike a credit card debt where people could go AWOL. 

The bank is also protected, to some extent, against their customer declaring bankruptcy, as one of the first things the bankruptcy court will order the petitioner to do, is liquidate their assets – and in this sense, a house would be considered an asset.  In summary, financial institutions prefer lending money which is secured on a tangible asset; and this makes the prospect of getting a mortgage whilst still challenging if you have bad credit in the past or are new to lending – a little more realistic than you might otherwise imagine.

A great place to check out your options, for all sorts of financial products, such as credit cards and loans is https://moneysupermarket.com as this compares a number of financial products.  Now, presuming you have funds in place, the next step is to find a property – and to do this, there are three main routes:

1. FIND AN ESTATE AGENT

The most conventional way to find a property is to use a real estate agent which can provide incredible value in terms of the return on investment, particularly due to the convenience and possibility to have an invested (yet somewhat neutral) third party to mediate between the buyer and seller in order to assess where things such as ‘lowest offer’ really stand.  A solid estate agent is well worth the commission, however, more and more people are starting to buy and sell their homes without using a real estate agent; using property websites that connect private sellers with private buyers.

2. PROPERTY AUCTIONS

Many amateur property investors choose to head to a property auction, as they’ve heard this will be the best place to grab a deal.  There are some great deals to be found at property auctions, however, there’s often a reason the property is being sold at auction; which is why it’s important to do plenty of research into understanding why the house is being sold at auction.  

It could be as simple as a financial issue where the bank has foreclosed on the house and their corporate policy is to always sell at auction, or perhaps a relative has inherited the property and wishes to sell it from a distance… either of these motivations are standard, but sometimes sellers are choosing an auction for more dubious reasons.

3. GO DIRECT

A better option than going to auction, particularly for newbie property developers, might be to find sellers and negotiate with them one-to-one without any middleman taking a cut; be this an auction house or an estate agent.  This level of negotiation can often be trickier than outsourcing the task to a real estate agent, who is more neutral and mindful to the very personal nature of someone selling their home – but presuming you have tactful negotiation skills, finding homeowners wishing to sell their property is made particularly easy with the explosion of the internet.