Under 30? The Housing Ladder Isn’t Out Of Reach

Just because you may be a ‘millennial’ doesn’t mean your sole preoccupation is where you can get your next hit of avocado on sourdough toast. You are much more than this. You want a home to call your own as you’ve done the whole rental thing and you’re ready to move on and put down roots.

Seeing your hard earned cash lining the pockets of your landlord each month is becoming harder and harder to bear as you struggle to save up for a deposit for your own pad.

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However, all is not lost. Just because you are under thirty doesn’t mean you are incapable of securing your own home. Take a look at how you can ensure the housing ladder is not out of your reach.

Improve Your Credit Rating

It doesn’t matter if you have a bumper-sized deposit for a home purchase sitting in your bank patiently waiting to be utilized, if you haven’t got a good enough credit rating no home loan lender will see you as a responsible enough borrower.

You need to go about enhancing your credit rating. Although it may sound counter-intuitive, by taking on more debt, showing that you have not overstretched yourself and that you can pay any money back in a timely manner can boost your financial credentials.

Sites like https://personalloan.co provide impartial guides to the personal loan applying process. By taking out something short-term and repaying it quickly, you can be a safer bet for home loan lenders.

Budget

As you near home purchase time, it’s vital that you budget carefully as home loan lenders will want to see evidence of your spending habits. You don’t need to cancel your gym membership, simply make sure that you don’t head into your overdraft each month.

You need to be comfortable living within your means otherwise a mortgage lender may deem you a risk. If you struggle with your finances, budget using a template available at https://templates.office.com/ and record all of your income and expenditure. This way you can save money by curbing the needless frivolous spending.

Don’t Overstretch Yourself

While you might want the three-bed coastal condo, it might not be the ideal first-time purchase and could be way out of your price league. Stay modest for your first step onto the housing ladder.

A one bed flat will suffice especially if you can add money and outperform the market. Don’t be seduced by the decor and think about how you can enhance a property as you go on viewings with real estate agents. Keep well within your means and feel safe in the knowledge that you will easily be able to make your monthly mortgage repayments.

The tag of ‘millennial’ shouldn’t be an instant dismissal of a secure financial future. While wage to property price ratios are ever-widening, you can still prove yourself to be a responsible (if young) potential homeowner. Do all that you can to find your feet on the housing ladder and secure your financial future.

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Should You Really Invest in Property?

In some ways the very opposite of making money online would be to invest in bricks and mortar, and start a property development business, however, when you compare the two methods of making money there are some huge similarities, as in both cases, people are building assets they then leverage to create passive income.

In the case of the property developer, they are doing this by renting out their property whilst the blogger for instance, is renting out space on their website… in both cases, they are leveraging an asset to create income rather than trading their time for money in the linear way most employees do.construction-process

The best way to make money, of course, is to invest.  A lot of people today are looking into cryptocurrency and concepts such as IHT Coin, which is relevant to real estate, yet an equal amount of people are a little timid about the prospect of all these “new” ways of making money and prefer something more traditional such as investing in property.

This article offers some give some general guidance for people thinking of dipping their toe into the idea of buying an investment property.  It’ll help you think about where to find a property, what to buy, and who to rent it out to.

WHERE TO BUY

Many amateur property investors choose to head to an auction, thinking this might be the best place to grab a deal, and in some ways they are right – however, one must thoroughly look into the reason the property is being sold at auction rather than by a real estate agent.

It can be as simple and innocent as the bank that has foreclosed on the house has a policy to sell at a specific auction, and in these instances, that’s fine… but just be aware that some houses might be going through auction as the owner knows you won’t be able to do a full inspection of the property.

Furthermore, it can be very easy to get caught up in the psychology of the situation at an auction, where your bids can well exceed your budget for a particularly property as the bids almost hypnotically spiral upwards.

WHAT TO BUY

There are several factors to consider that will require significant research; such as crime rate, the quality and proximity of local schools, transport links, and social amenities.  

If you are able to get your hands on some insider insight, such as from the local council, to understand what the next five years will bring to the area that would be helpful; for instance you would want to find out if a new sewage treatment was opening up in a few years time.  The point is, to do your homework, as whilst it might feel onerous and perhaps even costly, it will definitely pay off in the long run.

On this point, you might want to consider purchasing in an area that you are already acquainted with rather than going in blind.

WHO TO RENT TO

The next question is why to rent to, and within this, there are three core markets: students, professionals and those on government benefits.

Now, the wonderful thing about students is that their parents will often act as guarantor and are often willing to pay up front for a whole semester, or even academic year, which means this can be a very financially reliable way forward.

That said, the downside, is that students can be messy, disrespectful and noisy to the point they could disrupt neighbours and not always look after your property very well.

 For this reason, if you are buying a property with a view to renting it out to students – you’ll want to essentially buy a basic shell of a property that is fitted with relatively cheap carpet and furnishings that are all easy to replace.

The pros of professionals are that they are the most likely genre of people to keep the house tidy, conform to the rules, and pay their rent on time.  That said, there are plenty of professional people that end up falling behind with rent, and interestingly enough a large portion of eviction action, in court, is pursued against professional people.
Whilst there are some social disadvantages to consider in terms of the reputation and stigma of this demographic, there are plenty of people in receipt of government benefits that will take good care of your property.  

The main advantage when renting to someone on benefits is that you can set it up so the government pay you directly, meaning you are getting a reliable check in the mail from the government. This, therefore, makes renting out your property to people on benefits a surprisingly attractive and reliable option.

5 Ways To Lower Your Company’s Electricity Bill

Companies are more reliant on electricity than ever before. If you’ve noticed your company’s electricity bill going up, here are a few tricks that could help to reduce costs.Energy Power Consumption Socket Electricity Current

#1. Switch to the cloud

If you currently use your own local server, switching to the cloud could save you a lot of money by reducing your electricity consumption. Private servers use up a lot of energy to stay cool, whilst you don’t have to pay any energy bills to use a remote cloud server.

The cloud can also have other advantages, such as allowing employees to work remotely. With more employees working from home instead of in the office, your company energy bills will be reduced saving you further money.  

#2. Install a meter

You could also consider installing an energy meter. This could help to make you more aware of your electricity consumption by showing you exactly how much you’re spending on it as you’re using it.

You can install a meter by hiring a level 2 service provider. You could even get a smart meter installed which you can check readings for on your phone.

#3. Unplug appliances that aren’t in use

Appliances that are constantly left plugged in could be adding huge costs onto your electricity bill. This includes computers, printers and extension cables. Check every evening before leaving the office that all machines are unplugged or switched off at the wall.

You could enforce this as a rule that your employees follow if you’re not always the last to leave the office.

#4. Upgrade old appliances

Old computers and printers could be worth replacing – many of these appliances are likely to guzzle power compared to modern appliances. You can even save money by replacing old light bulbs for modern LED bulbs.

When shopping around for new appliances always check their energy rating. Appliances that have a good level of energy efficiency are usually given an Energy Star recommendation, which is something to look out for.

#5. Consider adding a renewable energy source

You could even consider taking your energy source off grid and never having to pay an energy bill to a provider ever again. Solar energy is the most common way of doing this – by installing solar panels on the roof of your commercial property, you can generate all your own electricity.

Solar panels aren’t cheap to install, but you’re certain to make your money back over time. Contrary to popular belief, you don’t need a clear sky to generate power and many modern solar panels can generate electricity even on the cloudiest of days.

On top of solar power, you can also generate electricity using wind power. Commercial wind turbines don’t generate as much power as solar panels and are unlikely to power up a whole office, however they could still be a good supplement, especially if your office is located in a windy area.

Working On The Move: How To Stay Productive

Your plans to work on the move are always done with the best intentions, but do they always turn out how you’d hoped? Once you leave the office, it can be difficult to retain the motivation that keeps you going.

Working while travelling or when you’re away on business can help make sure you get work done, and don’t return to a backlog of emails and tasks to sort. While it’s not always easy, there are some things you can do to help you keep that motivation.

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Need some help? Here are some tips to help you stay productive while on the move.

  1. Always keep a pen and some paper to hand

You can’t always rely on connectivity once you leave your office, so the old classic pen and paper can be the way to help you get stuff done. Use your time to write down your ideas, make lists of tasks that need doing as well as any papers or emails you need to write later on.

It’s a handy way to help you stay productive, as well as keep those important thoughts for later when you do eventually end up back online.

2. Take the office with you

Thanks to cloud solutions, it’s easier than ever to access your important documents and folders when you’re on the move. Cloud applications enable you to work collaboratively with others, wherever you are and allow you to access your emails easily for seamless working.

Meanwhile, investing in a document management system for you and your employees will allow you to access those important corporate documents and templates that can help you carry out your work on the move. Ensure you have the right security systems in place to protect your assets whenever you’re off-site.

3.  Keep your energy up

Traveling can take it out of you, which can make it difficult to focus on what you’re meant to be doing. Staying hydrated, while eating a healthy snack can help perk you up and keep you focused on the task at hand.

If you’re still struggling, a brisk walk in the fresh air could help you to re-energize so that you can get back to your work. If typical energy-boosting methods don’t work, it might be a sign that you need to rest so that you can feel recharged for the next day.

4. Set yourself a time limit

It’s difficult to stay on task without the office environment, but by giving yourself a time to work until – you’ll find that you become much more productive. If you’re someone who thrives under pressure, this method will enable you to get much more done in a short amount of time. Try not to work longer than you would in the office and take time to explore the destination you’re in instead.

Getting work done out of the office can be tough, but it doesn’t have to be. Many of the principles for creating a productive working environment can help you out of the office too, so it’s worth giving them a try if it helps you get things done. Find the best methods and routines that work for you to help you stay productive while working on the move.

4 Links Needed To Last In Your Business

Connectivity is crucial if a business has any hopes of succeeding on the market. The right level of connectivity will ensure that processes are fast and that every aspect of the business is run at a high level of efficiency. This will impact everything from customers and client opinion of the brand to levels of profitability. But how do you make sure that a business is connected? That’s what we need to look at today.

Networking Communication Internet Digital Networked

Networking Communication Internet Digital Networked

Get The Right Tech

It’s crucial that members of the team are using the latest and best technology. You are probably worried about the cost of ‘teching’ up your business, but this is an expense worth brunting because it will make your business far stronger than it is today.

So, what tech are we talking about here? Well, one could suggest that you consider giving each employee a tablet. This portable type of technology is adaptable for a wide range of different purposes and can still be connected to the larger network for bigger jobs.

As for the cost, there are a variety of ways to deal with this issue. You can think about adopting a bring your device to work model. That way, you don’t have to cover the cost of the technology but you do need to be prepared for the fact that employees will be using a variety of tech. This makes setting up a network slightly more difficult.

Use A Unique App

You may want to consider setting up an app for your business. An app can be accessed on a variety of different devices from a phone to the more typical laptop or computer. With this type of tech, it’s possible to share information immediately with different groups of employees are the whole team. Goals and jobs can also be discussed on apps like this, so it’s perfect for a business with employees who are operating remotely.


Use A Consultant

One of the benefits of technology is that it will allow your business to expand dramatically in both scale and size. But you need to do this in a way so that it doesn’t impact customer service.

How do you handle that? We suggest that you use the services of a consultant. A skilled IT consultant for businesses will be able to help you design a business network that will allow connectivity in your company to thrive. It’s all about using the right solution and a consultant can guide you towards the correct path.

Keep Things Instant

Finally, you need to make sure that businesses, clients and employees can contact you or one another instantly. Remember, any delay is going to impact turnaround time and of course level of customer service.

Luckily, these days, there are variety of pieces of software that allow you to contact and communicate with people instantly. You just need to put them to good use.


We hope this helps you maintain high levels of connectivity in your business and that you can ensure that optimum levels of operations for your company.

Funding Your Business: Some of The 4 Things To Consider

When it comes to your business the way you get things off the ground is vitally important. The business can start off as just one thought. The thought can be nurtured and once you have your plan in place the next and only step is to actually make the dream become your reality.

But of course, this can often mean that you need some sort of funding to get off the ground. I thought I would share with you some of the options you could consider. I hope it gives you the confidence and knowledge to take the next step yourself.

accounting

Using hedge funds and investment profits

Many people consider hedge funds and investments that they already have in place to fund and push their new business or business expansion forward. It can be a great way to add more exposure to your business and there is even a trading platform could be the way to ensure that you make the right choice when it comes to funding your business for the future. It could also help you to consider further investment for the future.

Finding an investor

The other option to consider would be to think about finding an investor for your business. This means that you can get exactly the cash injection into your business to kick start your plans, buy stock, create products and even expand the business in other ways such as holding stock or finding a business premises.

However, often this means if someone invests they would want to end up having a stake in the business. If this sounds fine to you then it could be a very lucrative way to get not just the investment but also the extra support.

Using loans to fund your dream

You could also consider a loan to fund your dream business venture. There are many different business loan providers out there that could help you secure the amount of funding you need.

It might be just as a loan, it could be put against your business assets as a secure way to ensure that the loan gets repaid in full. Loans are a little easier to obtain and to handle, and they also give you the full control of the business still without needing to give of the equity of your business away. However, the risk is down to you as the business owner, so it may not appeal in that way.

Your savings and hard earned cash

Finally, your savings can be a great way to fund your business. Many people do this option and feel that they have added their own value and hard earned cash. Sort of like backing their own idea. Of course, like anything, there is an element of risk to it as at the end of the day, many businesses do struggle with their first year of trading.

However, you decide to do it, funding your business is an exciting time, and taking something that formed as an idea and making it a reality is a great journey to embark on.

What Really Goes Into A Property Development Business?

If you have an eye for investment, the housing market, and making a property as appealing as possible, you may want to find a career capitalizing on those skills. Property development is more than just building and it’s more than just buying and selling property.

property

It’s the step-by-step process of finding, improving, and selling properties for a profit and it can be a hugely lucrative business in the right market. But what goes into getting such a business off the ground? What are the skills you need, the partners you need, and the processes you have to go through?

The funding

Property development is all about making investments pay off. As expensive as property is, of course, you’re not necessarily going to have all the cash you need to get started on hand.

All throughout your career, in fact, you’re likely going to have to keep finding and tapping sources of funding.to avoid eating the brunt of costs yourself. Property development loans don’t work like new build loans, either.

You don’t get the lump sum of cash all in one go, but rather it tends to be split into different stages, each stage representing a stage of development. For that reason, experience in creating and working to budgets on developments in the past could be crucial.

The strategy

Not all property development business work exactly the same, either. You might have a wildly different profit model from another business in the same market, for instance. In plain terms, your profit model might be based strictly on the purchase, development, and sale of land and property.

Or, depending on what your local market is like, it might be based on buy-to-let or build-to-let properties. You need to figure out your market, which of your options is going to be most profitable, or if perhaps you need to mix both strategies to some degree and come up with the appropriate business plan.

There are templates available to help you craft it, essential as it is. If you don’t have the path to profit laid ahead of you, it is going to be all the harder to find it.

The speciality

Most property developers specialize in some kind of property or some kind of investment opportunity. The most common kind is those who buy, renovate, and sell resident homes to the private market.

But you might focus on acquiring land and building new properties or developing properties for commercial entities instead. Finding a niche is valuable because it gives you a specific market to focus on. Properties have to be developed not by any one rule-book but catered to the specific buyer or tenant.

Learning what their priorities will be can allow you to focus your budget more specifically on what is most important about the property for them, not just a scattershot approach to increasing the value of a property.

The location

There’s one rule in property development that you have to learn above all else: you don’t make your money when you sell a property, you make it when you buy it. For that reason, opportunism is one of the key factors in a successful property development business.

Finding those opportunities for profit is all about location, first and foremost. You need to get to know different areas, look for the signs of neighborhoods that are on the rise, changes in demographics, whether a city or area is more rent-friendly or more profitable for buying and selling, and so on. Pay attention to rent price, to recent sales, and to signs of development in an area such as new services and businesses opening there.

The timing

Opportunity is all about timing, as well. The housing market has its ups-and-downs not just in the grand scheme of things but from year to year. To profit as much as possible, you need to buy when prices are cheap, then develop and hold onto properties until prices are high again.

Finding the ideal time to buy and sell might not always depend on seasonal shifts, either, but on market dynamics. It’s a good idea, once you’re up and running, to sell property before you buy, so you don’t always have to rely on bridging loans that can impose some restrictions on your overall budget.

The connections

As a property developer, your expertise is going to be in finding the best possible opportunities for property development. You are likely not going to be a contractor or renovator yourself, so you need to build connections within those industries to make the actual development side as painless and cost-effective as possible.

This includes builders, utility fitters, painters, renovators, architects, and companies that rent out equipment like diggers and tip trucks. Fostering connections within these industries is crucial. The better your relationship, the longer you’ve worked with them, the more likely you are to benefit from better deals.

Beyond just searching for these services like a consumer would, take the opportunity to network within trade shows that tend to act as a shared space for many of these services.

The marketing

The property market isn’t the only one you need to concern yourself with. You need to focus on building a brand as a property developer to the market of consumers, as well. This includes learning to market the properties you develop and doing so without the assistance of realtors can reduce your overall costs.

But property developers can also extend their services to others, such as landlords or property owners who want to increase the value of their own property. If you offer your development services to others, then you have a strong brand.

This includes having the right digital brand, but it also includes having show homes created in conjunction with interior designers and stylists to give an idea of the final product you offer.

If you don’t have any experience either in renovations, property investment, or construction, then it’s probably a good idea to get some. You need to know the market and what’s involved before you try to make a career profiting from it.