By Louise Misiewicz
What will define successful property investment in 2020?
Are there key traits property investors will need to adopt?
I often get asked by clients what the main elements are for successful property investment in the UK.
This, of course, is a difficult question, as the property investment market is constantly changing, with new legislation, economic fluctuations, variations in the housing market, and many other factors to deal with.
As leading property tax specialists in the UK, however, I and my team of property accountancy experts usually see cycles and patterns arising in the world of property investment.
So, what traits will property investors need to be successful in 2020? I’ve been discussing it with my team, and I’ll be writing a series of blog posts, each one highlighting one essential trait per article.
What is the first trait required for successful investment?
The first trait a property investor will need to adopt in 2020 will be, I believe, to have a broad portfolio of properties from which to develop a profitable and professional property investment business.
But what does this mean for the average property investor or buy-to-let landlords in 2017? Quite simply, don’t rely purely on residential property. Diversifying into commercial buildings will be a critical factor.
How can a residential investor diversify into commercial?
I recently wrote a detailed article here, highlighting the benefits of diversifying and investing into commercial properties, as part of a broader property portfolio development strategy. It’s worth reviewing.
I also published an article around the same time, overviewing the impact that Brexit could have on commercial property investors in the UK. It’s worth looking at and can be found here.
The FAQ section is also a useful resource for property investors to consider their options. It’s a free resource, and the article discussing how commercial properties can outperform residential by using a SIPP is particularly relevant. Read it in full here.
So, the first trait of a successful property investor in 2020 will be working with a broad property portfolio.
Next week’s Part Two of this series will examine the next trait – diversification into EIS.
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