Updated: Sep 21, 2018
Everyone is a property investor these days, you want to invest in property but don’t have the time. There are plenty of ‘turnkey’ companies out there - what does that even mean now? It’s so overused.
That’s great, you turn keys.
Everyone seems to. How are you supposed to choose? It’s not easy and it shouldn’t be rushed, we suggest starting with basic Due Diligence on the company, looking at companies house and checking the directors history. Then ask around your network about them. Once you’ve done the basics, it would be great to check their social media/marketing, are they active? Are they doing what they say they do? Nowadays everyone posts their activities online, especially if it’s their business. Does the company have reviews or testimonials - what do these look like? Do their previous properties look good?
The most important thing is how you connect with someone. Forming working relationships with people is the real foundation to your investment with them. You don’t want to involve money, time and effort with someone who you don’t get along with. 7.3 billion people on the planet, there’s plenty more you could work with! Get to know the person who’ll be investing with you, how they like to work and what their style is. Meet up, view properties together, speak with their previous clients.
Trust your gut.
Finally, ensure the legals are above board. Check any contracts or loan agreements with your own solicitor. Don’t get caught out at this stage, you should be happy with all terms/clauses before you sign on the dotted line.
How do I work with Investors? Find out HERE.