Property Investment in Edinburgh: how we do it
Well, Christmas is just round the corner…….what would you like for Christmas? An Edinburgh Buy-to-let property? Fantastic, here’s how we can help.
We offer Edinburgh property Investment consultancy where we’ll advise and help you buy your first investment property or expand your existing property portfolio. Without experience of buying an investment property it can be quite overwhelming as to what to do and when. We can help by doing it all for you, joining the dots of purchasing a buy to let in Edinburgh
Step 1 – Firstly, we’ll normally have a conversation(s) with you to understand what your investment goals are and we’ll advise on the strategy we think you should adopt. We’ll show you some clever models illustrating what can be done with a bit of planning. At this point we can also help you source funding and can introduce you to a solicitor so we’re ready to offer for a property when the time comes. We can also arrange for a no-obligation chat with an accountant who can advise you on the best ‘way’ to buy the property (you might have heard noises about the benefits of buying properties within a company due to forthcoming tax changes; a blog on this will follow shortly!)
Step 2 – Once we have a good idea of what you’ll looking for we’ll search for suitable properties, viewing those and reporting back to you when we find something that ticks your boxes. We’re quick to act on properties on the open market and we deal daily with off-market properties in case there is something that we can help you buy without having to make a blind offer on the open market. We’ll advise on offers to make and work with your solicitor to negotiate these offers. Property bought…..Job done! (actually…. that’s just the start!)
Step 3 – We assist in dealing with solicitors, surveyors and lenders all the way through to completion. There are always lots of little questions as every property is different. At this stage we can also work on any quotes for refurbishment, furnishings and anything else to get the property ready for letting (most sellers won’t let you access until ‘missives conclude’ but we try our best to get round again then with contractors to gain quotes for any works. If you’re thinking about doing any work on a property, its best to do it at the beginning so you hand over a nice blank canvas to your tenants, who will be more inclined to take good care of it. We’ll also get you a competitive insurance quote ready to kick in when the completion date comes round.
Step 4 – Once you own the property we’ll pick up keys and carry out an inspection to make sure there are no defects to be reported (you get 5 days to report any major defects to the selling solicitor). We’ll then crack on with any refurbishment, furnishing or safety-installation work required prior to renting.
Step 5 – Once the property is ready our lettings team will do what they do best and advertise and view the property to find you a good quality tenant so the rent starts rolling in and you can sit back and relax and plan your next buy to let swoop! You’ll be designated a property manager at Umega who will get to know you, your property and your tenants very well and we’ll provide you with an ongoing review on your property/properties performance in line with your overall investment strategy.
That’s our investment service end to end (although our service is far from rigid and we can tailor our services to suit your own circumstances). We love advising investors as they enter the buy to let market or expand their portfolios and we get such a buzz from helping clients fulfil their investment goals. It’s mind blowing what is possible with a bit of planning so please do get in touch if you’re ready to take the plunge or if you are still trying to get your head around the steps to buying a buy to let in Edinburgh. We’re here to help!
For more information please contact me by emailing me or calling our office on 0131 221 0888.