How Does Property Compare to a Traditional Business?
One of the main factors that traditional businesses typically have in common is their reliance on staff to function. If you have ever run a business and employed staff, then you’ll know how stressful this can be. As a director / owner / manager of a business like this can mean that you are relied upon, not only for instruction or direction amongst your other duties, but also for paying your staff’s salaries or wages.
This is where a property business can differ. Being long-established, the property industry is already set up to help you build a business that doesn’t have to rely on employees to function successfully. There are all kinds of agencies, professionals, trades, contractors and suppliers that can help you create a fully automated business without being responsible for your own staff. Below you’ll find a short summary of just a few examples of the professionals that can help you to build your property business by contracting their services, instead of employing staff.
From property sourcing agencies to estate and letting agents, your search for property can be assisted by professionals who can help you find the right property based on what you're looking to achieve from your investing.
Building contractors can undertake any refurbishment and development work with the aim of improving the market value of your property and increasing your return on investment. Maintenance professionals can also help you to keep your property in top condition throughout your ownership.
Specialist property accountants are incredibly important and should be consulted prior to purchasing an investment property. They can help you set your business up for success and provide accounting and tax advice to save you money throughout your investment journey.
Mortgage brokers and financial specialists can access mortgages or other financial products to fund your investments, helping to make your money go further. If you’re not familiar with the power of utilising finance for property investing then check out our article on leverage here.
Home-staging professionals can help you to make the most of your property investment by maximising the appeal of the property whether you are letting or selling. We have found this service to deliver outstanding results on our own projects!
These are just some of the professionals that can help you to invest and build a successful property business without the typical headaches that traditional business models can bring.
RESONATE PROPERTY is a Full-service Property Investment Agency. We can help you develop your property investment strategy, find the perfect property, refurbish or develop it and then let or sell it on to suit your goals. We have a vast network of property professionals consisting of all that we mentioned above who can help you maximise your investments and provide a completely hands-off service, so get in touch with us today to take your investing to the next level!
REMEMBER - All investment activity carries risk. It is important to take advice from qualified professionals and ensure you understand all associated risks prior to investing.