A beginners guide to Forex trading – All you need To Know About it!

It is fair to say that Forex is the most important financial market available today, having a daily turnover of more than $4 trillion. Some of you might also know it by the name of foreign exchange.

Forex represents an ability to buy or sell world currencies in exchange for another one. This is eventually creating such massive market in the world, so it is not surprising to see so many people trying to be good at it.

For example, the total sum of money traded here daily is much bigger than the whole GDP of many countries.

It is also worth mentioning that foreign exchange is one of the most liquid markets on the planet. The trick behind this is in business hours. It doesn’t matter if it is day or night, Monday or Sunday, the markets are going to be active which means you can trade at any time you want! There are no restrictions. The main difference from the stock market (besides the one mentioned above) is that trades in forex are taking place between persons holding currencies, not through the exchanges. Of course, there are peak hours when most of the forex traders are online.

All beginners who are interested to try it out should learn a couple of basic things before opening an account. The first and the key one is currency pairs – the most important component of the whole market.

The value of one particular currency in comparison to others is measured by a currency pair price movement.

The general division of currency pairs nowadays is to majors, minors, and exotics. The number of potential currency pairs on the market is unlimited, but of course, there are the most common ones, usually coming from the top five or six world’s economies (the majors). The minors don’t have any pair that includes currencies coming from tier one.

Some of the most popular exotic pairs nowadays are the Hong Kong Dollar, the Chinese Yuan, Russian Rubble and so on. We recommend rookies to forex trading stick to the majors. ‘Lots of betting sites are now offering also financial betting as trading on currencies is of interest of many punters out there’ said Ethan Rowe from leading UK site BestBettingSites.Online. ‘After all this is not surprising as after all there is just a fine line between trading and gambling’, added Rowe.

How The Trading Actually Works – Place Bids, Ask For Prices

All foreign currency trading platforms are offering two basic options – Bid and Ask Prices. A bid is where participants simply indicate their price to buy a specific currency. The prices are changing a hundred times per day, which is making this whole process even more interesting. The movements are of course caused by the demand and supply in the market.

The Ask Price is a feature used to let others know about the price one is likely to sell a specific currency pair. Like the Bid feature we mentioned above, there are many fluctuations included in the Ask Price as well! The main idea of making a profit here is buying a currency when it goes low or hopefully reaches the bottom, and then re-selling it for a much higher price when it gets up on the feet.

Some of the most common Forex trading terms you need to know about

If you get into a group or forum of people who are already experts at Forex trading or at least have a couple of months of experience, you might run into some terms never heard before. Some we are going to mention below could be of crucial importance for long term success, so make sure to understand them fully before trading anything.

A Pip is the first one and it refers to a changed value between two foreign currencies. Let’s say EUR/USD pair moves at price from $1.02 to $1.03. The difference between these two numbers, $0.01 is representing one Pip.

Second, we would like to mention here is a Spread. Spread is the difference presented between the buying and the selling price in Forex trading. Let’s take a look at another example. The Bid price for EUR/USD is 1.11 and the Ask Price is 1.12. The spread, in this case, would be 0.01 or one Pip. However, the price of this specific currency pair will have to be over the spread for a trade-to become profitable. The main advice here is to look for a smaller spread as possible – it may make it easier to make a profit on small price fluctuations. Many experts act rapidly when they see thin spreads. It’s a sign of an urgent trade.

The third on our list of terms is Margin. This one shows the amount of money in Forex account that allows the trader to do trades of certain sizes. It serves as collateral for trading. There were many misinterpretations of margins lately by the rookies – it is not any sort of a fee or cost for trading.

How To Get Started

The first thing you need to do before making the first trade is to open a Forex Brokerage Account. There are so many brokers available nowadays, and a big majority of them have an amazing welcome offer for new traders. Set it up, complete the registration, fund the account, pick a strategy and you are ready to go! We always encourage our readers to start building bankroll slowly, which means lower deposits and lower risks. Time is of the essence when it comes to being good at forex, as well as the experience.

Forex trading has many advantages in comparison to the stock market or similar activities. As already mentioned, their market is open 24 hours a day, seven days a week. It doesn’t matter where you are. If there is an internet connection, you can trade without any issues. Some of the other advantages we would like to mention as well are high liquidity, very low transaction costs (no clearing fees, exchange fees or legal taxes), leverage and absence of middlemen.

Is blockchain’s open financial tools and services an opportunity for entrepreneurs?

Outside of the novelty and consistent price speculation of cryptocurrencies, one trend that has fast materialized is for an open and more accessible financial ecosystem.

With the expansion of regulation and infrastructure, facilitating open financial tools loom large, and while this innovation is for the greater good, many entrepreneurs are stuttering at the scale at which this sector is growing. From open source tools to standardized identity protocols like anti-money laundering, the digital asset market is slowly converging with different economic structures that will help entrepreneurs in the long run.

Open and integrated finance

Decentralized or open finance is a type of interoperable financial system that involves transparency, standardization, financial inclusion, and increased accessibility. This opens the opportunity for financial tools to play a more crucial part. For example, crypto traders are using trading tools and indicators to check the market condition before investing. Tools like BTC Profit System offer the most accurate information of the currencies and their expected behavior by using a combination of algorithms.

This approach has also helped many cryptocurrencies to lower their barrier so that investors can access transfer mechanisms and value storage. The currencies are trying to create a separate class of assets and remove intermediaries that exist outside the existing financial system.

One of the most significant aspects of this movement is the emphasis on different financial tools built on blockchain protocols for digital assets. Since these projects are expanding on the basis of blockchain technology, they are useful to build open financial instruments that offer more transparency to entrepreneurs; something that they had been looking for all this while.

Open financial tools

The introduction of open financial tools is providing secured lending services. This sector has a massive potential to benefit new entrepreneurs as it constitutes the biggest part of the open finance structure. However, other financial systems that are also gaining ground are decentralized prediction markets and security tokens, especially after utility tokens saw a downfall in the last couple of years.

Although the potential of various open protocols is still there, experts believe that the market is highly unlikely to experience a wholesale transition when it comes to financial instruments operating on the blockchain.

What is more likely to happen is the introduction of a hybrid ecosystem involving digital assets and open protocols with integrated businesses and traditional financial systems. It is still early days to consider a paradigm shift from traditional to digital in the next few years. So, a convergence is what everyone expects to happen.

If an open financial system has to exist, it will require a lot of innovation and proper infrastructure in different sectors. Financial and regulatory institutions in the United States are approaching a more mature market before jumping into the concept of digital assets. More startups are shifting their attention from ICOs to regulatory-compliant digital assets and transparent security tokens. Even ICO models are now focusing on anti-money laundering and KYC processes to reduce this transition and regain the market they have lost. So, entrepreneurs can be assured that the open financial tools and services will work in their favor instead of going against them.

Government announces £500m plan to help farmers hit by no-deal Brexit

Ministers are working on a no-deal Brexit plan for farming in which the government would step in and buy slaughtered livestock at set prices in the event of a collapse in European demand because of high tariffs.

Boris Johnson travelled to Wales today and pledged that British farmers would be better off if the UK left the European Union at the end of October even if it were without a deal.

Under plans being finalised by Michael Gove, the former environment secretary who is now in charge of Whitehall no-deal planning, the government would agree to buy any lamb and beef at the point of slaughter at a pre-determined price.

The commitment, expected to cost the Treasury about half a billion pounds a year, would also cover some arable crops where EU exports might dry up.

Mr Johnson also pledged today to unveil a replacement to the EU’s Common Agricultural Policy that will ensure farmers get a “better deal” than at present.

But farmers’ leaders are concerned that the government scheme may have to last for several years while trade deals are negotiated.

There is also concern that they may never make up for the lack of market access to the EU, which would be hard to win back, even if an eventual trade deal were struck.

The UK beef industry exports about 92,000 tonnes of beef to the EU which will face tariffs of 65 per cent of wholesale value, depending on the category of product. The cumulative cost of beef exports facing EU tariffs is more than £250 million.

EU sheep meat and live animal imports will face tariffs of about 46 per cent, making British lamb exports to Europe uneconomic. Economists have predicted that a no-deal Brexit would depress the market rate for lamb by 30 per cent.

Alun Cairns, the Welsh secretary, suggested that new global markets, including in Japan, would be available to sheep meat producers.

“We are now looking to the growth that will come from right around the world,” he told Today on BBC Radio 4.

“I would point to the market in Japan that has just been opened to Welsh and British sheep, for example, so exports are already taking place there. That is a significant market for which we haven’t even scratched the surface yet.”

However, Liz Saville Roberts, Plaid Cymru’s Westminster leader, pointed out that Japanese market had been opened up to Welsh lamb by the EU-Japan trade deal.

Mr Cairns insisted that as an independent trading nation “there will be these markets and these opportunities there”.

Asked what he would say to those who said were threatening civil unrest if their export markets were destroyed, he said: “New markets have already opened up and there are new protocols in place for additional markets as well.”

Minette Batters, president of the National Farmers’ Union, said the mass slaughter of livestock was “absolutely something that we want to avoid at all costs”, as she queried where lamb products would go if farmers were “tariffed out of the EU market”.

“Trade deals don’t just get picked off the shelf in a couple of months,” she said.

Helen Roberts, development officer for the National Sheep Association (NSA) in Wales, called on Mr Johnson to “stop playing Russian roulette with the industry which he appears to be doing at the moment”.

She told Today: “If we do go out with a no-deal it will be absolutely catastrophic, even if it’s just for a few months.”

Asked about the possibility of civil unrest, including roadblocks and tractor protests, among sheep producers, she said: “I think they will, I think it’s time to come and stand up for ourselves and be counted.”

From data to diversification

Apple’s recent decision to launch a new credit card and streaming service has been interpreted as an attempt to strengthen its services business in the face of falling global iPhone sales.

But is the firm’s decision to diversify destined to succeed and should other businesses pursuing growth in maturing or shifting markets follow its example?

Apple is not new to diversification. The company has a track record of diversifying to improve its performance and drive shareholder value. Once a computer hardware manufacturer, Apple Computer became Apple Inc in 2007, marking its focus on consumer electronics. More recently the company has been seeking to re-educate shareholders that instead of tracking global iPhone sales, they should be focusing on the projected growth figures for its services business – as this is where it believes the real growth opportunity lies.

Even with a strong list of partners, the company’s decision to become a content curator is not without risk. It will take time and money to develop a catalogue of high-quality news programmes, drama series, documentaries and films that will appeal to its global customer base.

In the meantime, established players such as Netflix and Amazon Prime Video are competing for consumers’ eyeballs and already offering user-friendly, competitively-priced services. However, with record revenue generated by Apple’s services business in Q2 2019, it is clear that the potential rewards are considerable.

The key to de-risking any move to diversify lies in good quality data and knowing how to use it. In Apple’s case, the business has a ready-made market for its credit card and streaming service and through a process of consumer market testing by profile, content type, territory and device, it can predict demand for its diversified offering with some degree of certainty. This data can be used to plot a roll-out plan that is geared to optimising returns while mitigating financial risk and protecting enterprise value.

Not all businesses opt to diversify for the same reason. Some are seeking growth in a market that is maturing rapidly or where regulations or other restrictions are limiting the company’s growth potential. Others want to de-risk their business model by investing in a variety of products or services, rather than just one. Whatever the motivation, a structured, data-driven process will improve their chances of success.

Research by Harvard Business School indicates that 95% of all new consumer products fail to achieve their commercial objectives. Many are dropped before reaching the market and others shortly after market entry. The later the decision to draw a line under the new product development (NPD) process, the more collateral damage is likely to have been done to the company’s financial performance and enterprise value. With the odds stacked against them, what can businesses do to de-risk their plans to diversify?

Move to an ‘adjacent square’

Rather than taking a leap into the unknown, the decision to diversify should be a calculated step into an ‘adjacent square’ where the business can leverage its existing expertise or tap into a known market. Achieving the right balance of proximity and stretch will enable the business to leverage its scope and scale to the fullest extent, while driving performance and controlling risks. For example, Amazon’s decision to launch its own fashion lines, instead of simply providing a platform for third-party sellers, was an example of vertical integration – a step designed to seize more margin and increase control. Alternatively, a horizontal step could take a business into an unknown market where it could apply some existing expertise or know-how.

Test the market

To mitigate risk when pursuing diversification, the business must be certain about whether there is market demand for any new product or service development. Just because a competitor is making strong profits from a specific activity doesn’t automatically mean that launching a rival product or service would achieve the same success. A detailed and analytical approach to market testing is required to ensure there is market demand to support the business case for diversification.

Get data-ready to diversify

Before deciding to diversify, a business should make sure it fully understands where value lies in its existing business model and where it will come from in the future. Such insights are critical when deciding how to leverage the scope and scale of the business. When preparing a business case for diversification, it is important to have a clear understanding of what success and failure might look like in terms of financial data at key points in the roll-out plan. Before making any move, it may be necessary to take a step back and ensure the business is data-ready to diversify, with access to reliable centralised data.

Roy Williams, co-founder and managing partner at management consultancy, Vendigital.

Esports to be worth over $1 billion by 2020

The esports industry is set to easily exceed $1 billion by 2020 according to Newzoo – the self-proclaimed leader in esports, games and mobile intelligence.

Esports which is essentially competitive gaming, has become a global phenomenon with hundreds of millions of fans from all around the world tuning into esports events via their mobile phones, tablets and computers.

The industry is expected to smash through the $1 billion mark by 2020 as global brands look to take advantage of the popularity of esports via esports betting markets, advertising and sponsorship.

The Esports Market

The primary esports viewing platform – Twitch – has become one of the most regularly watched streaming platforms in the world. The Amazon owned gaming platform and social network is accessed by tens of million pf people per day, and this number is only increasing.

Incidentally, more people watch gaming streams every month than watch news channels. The current esports audience total’s at over 200 million whilst by 2020, the number is expected to exceed 300 million.

Esports are now one of the most popular pastimes on the planet, male millennials especially populate around 80% of esports audiences. This has opened up a huge market for brands looking to advertise directly to millennials.

For the most part, the majority of brands on Twitch that are looking to advertise to the huge Twitch audience are primarily gaming brands – which makes sense given that Twitch is a gaming platform, afterall.

However, it is thought that non-gaming brands are missing out by not advertising via Twitch. At the start of this year, nearly one million people were watching a Twitch live stream at any given point. Millennials are notoriously difficult to market to though, they are very tech savvy and tend to know whether they are being sold something or not, so advertisers need to ensure that they come up with a clever advertising campaign in order to successfully market their product.

Esports revenue is made up of several different streams, the largest being sponsorship and the second largest being advertising. Indeed, over 70% of the esports economy is generated via sponsorships and advertising.

As the esports audience grows larger, the more money advertisers will throw around in order to market to the growing audience. Sponsorship money into esports players, teams and events also continues to increase year upon year – this is the biggest filling in the esports pie.

The general attention on esports is growing exponentially. There are so many things going on, and new games show up every day. Lot of people want to watch esports matches online, so if you want to stay updated about the next esports event you can have a look at website esportsguide.com , where you can find the updated list of all the upcoming esports events out there, so that you will not miss a match or a tournament anymore! If you will also find guides about the games and news about the upcoming tournaments.

Sponsorships

Big businesses from all around the globe are investing into esports. The esports market in China is set to be dominated by Tencent – the multinational investment holding conglomerate. Tencent has become one of the most aggressive promoters of esports and professional gaming.

It cannot be overestimated just how popular esports are in China. Over 10,000 esports teams exist in the country whilst matchups in the countries famous King Pro League tournament garner as many as 240 million daily views.

However, Tencent is not the only company in the world which has coined on to the investment opportunities that esports offers. Walt Disney Co, Amazon and Alphabet are three others that have seen the growth in the industry and jumped upon the bandwagon. One of the biggest esports franchises in the world – Virtus Pro – has grown so large partly due to the investment it received early on.

In 2015, Russian billionaire Alisher Usmanov invested $100 million into the team and that investment has certainly paid off. Beloved in Russia, Virtus Pro have won a variety of different titles across a number of different games and have become one of the most well-known esports teams in the world.

This sponsorship into an esports team also opened the eyes of many people, as well as potential investors. Since that initial investment in 2015, the money being pumped into esports has increased tenfold.

One of the biggest events in the esports calendar is Dota 2s ‘The International’. It is easy to track the growth in popularity of esports just by following the prize pool of Dota Two’s standout event. Every year the event is crowdfunded by fans and each year the prize pool increases in size. The international 2017 prize pool eclipsed $24 million which left a whopping $10,862,683 to the winning team. The upcoming ‘International’ is expected to be even higher.

The Future

Currently, there is no ceiling for esports. Esports is one of the only fan based industries in which fans have a major say in what happens. If esports fans are not happy with something, they will let the powers that be know it in their droves.

You only have to look at the backlash surrounding the FIFA games series and its developers EA Sports to realise that esports fans have a lot of power in shaping the industry itself – in a world where monopolies dominate, often at the expense of the consumers, this is a rare thing.

Currently though, the major esports organisers – Valve, ESL and Dreamhack – are doing an extremely good job of organizing events and ensuring that the fans, players and team alike are all treated to fantastic esports events. The organisers are taking the best things about regular sports and implementing them into esports.

For example, fans are able to use their esports knowledge and place bets on their esports matches via esports betting sites. Esports franchise games such as Dota 2 require a large amount of skill to master but if you put in enough time and effort garnering the knowledge in order to really knowing the ins and outs of the game, you can pick up on small edges when watching Dota 2 streams, making gambling on Dota 2 arguably much more profitable than gambling on a regular sport such as football, for example.

Young people are growing up in an internet age of live streams and it is looking increasingly likely that esports are becoming the sports of the future.

The most popular and well-known esports ‘athletes’ have huge social media followings and are idles for millions of young people worldwide. Esports betting has also made audiences feel even closer to their favourite teams and athletes as they join in with both the heartache and happiness of their idles.

Already mainstream sports teams including European football teams and basketball teams in the USA are creating their own esports teams so they can market their clubs to the new generation of sports fans.

Some sports athletes are even creating their own Twitch channels in order to stream their favourite games to fans.  At the same time, the average attendance in classic American sports such as baseball continues to decrease as Major League Baseball searches for ways to attract millennials – something that is proving difficult in what has become a digital world.

The world is constantly evolving and sport is evolving alongside it. Esports have forced their way into the hearts of primarily young people who have grown up during the digital age. As technology evolves, competitive video gaming will evolve with it and it is hard to imagine esports not getting bigger and bigger in the upcoming years.

Why sports betting operators like Betway are focusing on online casino

The UK is one of the world leaders when it comes to online gambling. The major bookies and sports betting operators are increasingly taking advantage of a positive worldwide reputation to broaden their markets and revenue share.

As revenues from online bookies in the UK continue to rise, more sports betting operators are making the transition into online casino branches. There are a number of reasons for this shift in focus, but grabbing a larger portion of the potential online gambling market is the key. As the UK betting industry continues to be a world-leader, here are the reasons why so many household names such as Betway are leaping at online casino branches.

Social Media

The rise of social media has proven to be positive for those brands that embrace it. Sports betting operators that have adopted trending social marketing have seen their brand recognition sky-rocket. Names like Paddy Power have joined Betway at the top of the market, with the average Betway casino review showing just how far they have come since adopting the bestcasino.co.uk status. Eye-catching marketing and a broader consumer base have made it almost inevitable that these household names are looking at offering more than ever before.

Proven Interest

Not everyone is into sport, and not every country has the same obsessions with the same sports. By making the shift to online casino gambling, UK firms are able to attract a wider portion of the global gambling community. There’s no disputing that gambling has resulted in one of the biggest UK business success stories of recent years. There are estimates that the UK market alone amounts to £2.8bn into the public purse. With easily recognisable games like roulette, craps, slots, and blackjack, sports betting companies are able to attract more players and more revenue.

Global Access

With such incredible revenue potential in the UK, it’s no wonder that UK brands are looking beyond the horizon at larger and less saturated markets. As more of the globe develop more reliable internet connections, sports betting companies are positioning themselves to take advantage of those markets and get a head start on their competitors.

Mobile Access

You don’t need a PC or even a laptop to get involved with online gambling. Now, you can place a bet, play a game, and collect your winnings using nothing more than your smartphone. That means that UK sports betting operators are diversifying. Now that anyone can gamble from the comfort of their own home, on the daily commute, or on their lunch break, the potential scope for profit generation is bigger than ever.

Improved Security

One of the barriers to online gambling is fears about cybersecurity. Online betting companies have embraced the challenges and are among the first industries to take advantage of the latest cybersecurity trends. With the adoption of resources like the blockchain, online casinos are proving to be one of the more secure forms of online gambling.

As technology continues to improve, the online gambling industry is only set to grow. Tech like virtual reality is set to be the next big leap forward for online casinos, and that means that online sports betting operators are racing to keep up with the brands that started moving more quickly.

5 places to visit in London at night

London is a wonderful city. Almost everyone falls in love with this city. Day or night, it just gets better at every step.

When the sun goes down, the city lights up and many of London’s most famous landmarks are showcased across the city skyline. There are places where you can have long walks and meet new people and see new places and as we all think that night time is much more peaceful.

While visiting London you would need a place to stay basically a hotel to stay with your family or with your spouse. The hotels near Paddington station are great for the desired any businessman or travel would want.

The Park Grand London Paddington Hotel is a great property which is easily accessible by public transport. It has access to transport links like Kensington Gardens and Heathrow airport via the Heathrow Express. Park Grand London Paddington Hotel is ideal for both business professionals and tourists.

Make sure to explore the city after the sun has gone down. Visit some of the places below for sure and don’t forget to bring your camera!

CHINATOWN

Well, who doesn’t like the products sold at a place like this?The enclave currently occupies the area in and around Gerrard Street. It contains a lot of different happening places like Chinese restaurants, bakeries, supermarkets, souvenir shops, and other Chinese-run businesses.

The first Chinatown was located in Lime House in the East End. There is a stone lion on Gerrard Street.

LEADENHALL MARKET

Leaden hall Market is a covered market in London, located on Grace Street Church but with vehicular access also available via Whittington Avenue to the north and Lime Street to the south and east.

This is a must-visit as it is one of the oldest markets of London. It dates back from the 14th century. You can find this market in the historic center and financial district of London.

It is open on weekdays from 10 am until 6 pm. You can basically find fresh food with cheesemongers, butchers, and florists. It was basically a meat, gameand poultry market. Now, you can finda number of commercial retailers in the market. Itincludes clothes shops as well.

LONDON EYE

The London Eye is a cantilevered observation wheel on the South Bank of the River Thames in London. It is a famous tourist attraction and is considered Europe’s tallest observation wheel. It has over 3.75 million visitors yearly. It is a wonderful place to visit at night as the city is lit up and it is quite a view from there.

The structure of the eye is 135 meters tall and the wheel has a diameter of 120 meters. The London Eye used to offer the highest public viewing point in London until it was superseded by the 245-meter (804 ft) highobservation deck on the 72nd floor of The Shard. This opened to the public on 1 February 2013.

SKY GARDEN

The famous sky garden is London’s highest public garden. The Sky Garden is located at20 Fenchurch Street. It is a different public space that runs across three storey’s and offers 360-degree majestic views across the City of London. Visitors are allowed to wander around the beautifully landscaped gardens, observation decks and an open-air terrace which is basically London’s highest public garden.

It is basically designed to offer an open and vibrant place of leisure. It gives visitors a rare chance to experience London from a different viewpoint. Entry to the Sky Garden is completely free.

ROYAL OPERA HOUSE

The Royal Opera House (ROH) is an opera house and a prime performing arts venue in Covent Garden, central London. The large building is often referred to as the “Covent Garden”, after a previous use of the site of the opera house original construction in 1732.

It contains the Royal Opera, The Royal Ballet, and the Orchestra of the Royal Opera House. It was called the Theatre Royal previously.

Conclusion

So, to all the travellers who are planning to visit London can go and check out the above places and create some new experiences and memories with your families or spouse.

6 golden rules if you want to launch a successful property business

Even with a fluctuating house market, investing in property still offers a lucrative opportunity—if you do it right.

Sure, we know house prices are falling slightly in the UK. But, with fewer buyers around, this is a great time to pick up a bargain.

Before you reach over for your bank card, launching a successful property business hinges on more than just purchasing a discounted property and then renting it out.

Like any business, you need to be prepared and know your stuff otherwise you’ll find yourself losing money, rather than making it.

Here are six golden rules to help you launch your own successful property business.

Write a business plan

Investing in property, whether it’s to generate a passive income, or to build a portfolio, means writing a business plan before you begin.

This is your opportunity to outline everything from why you want to invest in property in the first place to your exit strategy. It’s a key step in launching your business successful and integral to helping you stay on track, reach your goals and mitigate any potential risks.

Your plan should cover the following two points: 

Why

Have you inherited money? Do want to grow a portfolio of properties? Do you want to create a retirement nest egg? To you want to generate an extra income on top of your day job.

How

What kind of properties do you want to invest in—buy-to-let or buy-to-sell. Do you want to be hand on landlord or use an agency? Do you want to grow your portfolio? If yes, over how many years and how many properties? Where do you want buy?  Are you going into partnership?

Location is king

A common mistake is to become so distracted by wanting a bargain you end up buying in an area you know nothing about.

Without local knowledge (or at least a few local contacts) you won’t know whether you’ve bought in a good or bad road or postcode.

You also won’t know if there’s a vibrant rental market, what the going rates are or if it’s suitable for your target tenant profile. For instance, a three-bedroom house is more suitable for a family, but if there’s a lack of schools nearby or it’s located in an industrial area you might struggle to find tenants.

Know your tenant profile

Tenants are essentially your bread and butter, so you want them to be dependable, pay their rent on time and not destroy your property.

Ask yourself, who is your ideal tenant—what kind of person do you want to do business with? Are you going to rent to working tenants, housing benefit tenants or HMO tenants?

You should also consider what type of tenant will give you the best rental yield.  If you’re buying in a university town, your target tenant will be students or if have city apartments, you’ll prefer young professionals.

Understanding your tenant profile will help you market your property more effectively and influence how you manage the tenancy.

Learn to spot potential

Think beyond a quick refurbishment, instead look at how you can get more from your properties. For instance, a large property can be turned into smaller units you can either rent or sell, or a large one flat can be turned into a two-bedroom property—immediately increasing its rental value.

Don’t be tricked by cheap prices

Just because a property is on the market at a rock bottom price, doesn’t make it a savvy investment. You strike gold only if it gives you a yield later rather than turn into a frustrating chain around your next when you can’t get rid of it.

Focus more on potential yield first rather than investing all your energy into finding a property you can buy for less than market value.

Plan an exit strategy

By having a clear exit strategy for your investments at the beginning of your business, you will save yourself a heap of money and headache.

Your exit strategy will outline the process for getting your cash out when the time is right.

And, there are lots of options available from holding onto a property, restructuring your portfolio or selling up entirely.

Need to sell a property quickly?

We know situations can change quickly—you find yourself suddenly saddled with problem tenants or facing unforeseen maintenance costs you can’t afford or simply the value of your property has depreciated due to economic forces—all these things can all impact on your cash flow.

If you find yourself losing more money than you’re making with your property, you may decide the best course of action to sell it quickly.

But, don’t worry if you still have tenants in situ companies like House Buy Fast will still purchase your property and offer you a fast turnaround so you stop losing money.

For more information go here https://housebuyfast.co.uk/