Should You be Property Investing in 2009

Only you can answer that question but if you are going to be property investing in 2009, now is the time to ensure that your plans are set in place.

But whats going to happen?

Well frankly, it doesn’t really matter.

The key thing you need to focus on is adding assets to your portfolio that generate cash and plenty of it.  And in today’s market, you need to be focusing on the type of tenant who isn’t going to up and leave when the going gets tough – or if they unfortunately lose their job.

So, what type of property investing should you be looking at?

To my mind, there are several that you could look at but only one that has consistently over-performed any other class of property to date – the humble houses of multiple occupation (or HMO).

How can that be?

• your income is diversified and not dependent on just one family or individual
• you can earn twice, threetimes or quadruple the rent a single let would bring you
• you can use both commercial and residential lending
• you can become accredited and thus benefit from additional grants and assistance

There’s lots of advice I could give you for 2009 but there are 5 crucial points that you must ensure you practice no matter what you end up doing.

1. Have a plan
2. Follow the plan
3. Make sure the plan makes you money
4. Review the plan monthly
5. Let nothing stop you from hitting your planned goals

If you want to make your income goals even quicker, then make sure you have some HMO’s in your portfolio mix that are managed/outsourced to somebody else to manage for you (I can help with this if you need some help setting up your systems).

If you haven’t signed up to my 10-part ecourse, please enter your name in the opt-in box at the top-right – I’ve had many great comments about the course and I feel sure that you would benefit from the knowledge I earned the hard way but succintly put in just 10 easy-to-read emails.