Belvoir News Article

17/07/2007 - Professional planning key to property success - Market conditions highlight importance of sound advice and thorough research

Property still remains one of the most popular investment mediums despite recent interest rate rises. Residential lettings and property management specialist, Belvoir, which operates a national network of over 90 offices, says that the number of potential property investors visiting its offices for professional advice remains steady despite somewhat gloomy forecasts for the property market from certain sectors.

“The majority of people who are thinking of investing in buy to let property and ask for our advice have already decided that property is where they want to put any extra money they might be looking to invest,” says Belvoir Chief Executive Mike Goddard. “Most people still view property as a sound investment.”

“As with any investment there are, of course, no cast iron guarantees but we would suggest that putting your money into property remains a safe long term investment,” says Mike. “However, after something of an investment frenzy in recent years, we would advise anyone considering moving their wealth into this area to proceed carefully and do their homework before they buy.”

“Historically, a lot of individual property investors have made reactive decisions,” says Mike. “They have spotted an opportunity and made a quick purchase in the hope of making a fast buck. However, investing large sums of money into any medium, be it property or otherwise, should always be given due consideration and decisions should only be made following sound professional advice.”

As property management experts, Belvoir are experienced in advising landlords and potential landlords on how best to manage and get the best returns from their investment. The company has put together the following advice for anyone who is looking to enter the market or planning to develop an existing property portfolio:

• Take professional guidance some two to three months before you start viewing potential properties
  
• Determine whether this is the best medium for your assets
  
• Ask yourself how long you plan to invest your money for. Are you looking for a fast return or do you view it as a long term investment?
  
• Consider how much of an investment risk you are prepared to take?
  
• If you are looking to expand an existing portfolio, are you looking to invest in similar properties or would diversifying your portfolio yield better returns?
  
• Take professional taxation advice
  
• Consider the effects of gearing when deciding on an investment – with some careful planning you could make your assets go much further and potentially generate far larger returns
  
• Determine your exit strategy before entering the property investment market – what you do when you eventually come to sell your property is an important factor to consider even at the pre-investment stage

To extend its offer even further, Belvoir is pleased to announce that they are able to introduce clients to Partners of St. James’s Place, the wealth management company. St. James’s Place will offer advice to Belvoir clients on retirement planning, inheritance tax planning, general investment and protection, with particular emphasis on how these areas should be addressed in relation to their property portfolios.

Andrew Chatterton, a Partner of St. James’s Place in the Manchester office has set up a network of colleagues from the St. James’s Place Partnership around the country to service Belvoir clients.

Andrew said: “This arrangement will bring together Belvoir’s expertise in property and St. James’s Place experience in wealth management. Through this unique combination clients will now be able to consider their property investments in the broader context of managing their wealth.”


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