Beware of common mistakes

One of the big mistakes we see investors make is getting distracted from their plan or strategy for wealth creation.

We live in a world with distractions everywhere. It is easy to get distracted by bad advice, get rich schemes, unproven investment concepts, or the latest money-making venture.

Then there are the inevitable negative thinkers who show up in your life that kill your chances for success as a property investor if you let them.

Only last week we heard of someone who was considering buying another investment property as she had plenty of equity in the family home.

She knew how well property investment works because the one investment property she owned had increased in value over the years and her house had also grown in value considerably. But she decided against investing because her sister told her that it is a bad time to invest, "the property market is going to slump and property prices won't go up for a long time" she was told.

When asked how many investment properties her sister owned she was told "none." In fact, she didn't even own a house - she was a tenant. It just goes to show you have to be careful to whom you listen.

The sad part is the biggest negative thinkers you are going to run into are going to be your closest friends and relatives. So, in many cases, it's not easy to ignore their negativity.

It takes some effort on your part. Remember, it's not your job to get them to change (they probably never will). It's your role to keep yourself on track, then once they see the success that you're achieving they may change their outlook. Stay focused on your proven and chosen investment system.

Staying focused is also difficult when you get the other extreme of the distractions and messages out there from many "get rich quick schemes" and so called "property gurus."

Our recommended property investment strategy is to buy property at below market value, add value where you can and wait for the magic of time and capital growth to make you wealthy.

The problem for some investors is that this strategy is boring and considered slow. But successful property investment is a long-term affair.

Many investors look for the latest fad, risky overseas investments or try to find the next hot spot without really knowing what they are looking at.

When you are tempted to do this remind yourself that property investment has been the number one long-term multi-millionaire maker for many years, yet most people that speculate in the latest fads make very little money or in many cases lose huge amounts.

You don't have to look for the latest fads or the latest speculative growth areas if you create your own capital growth through buying a good property at a fair price. By doing this you are manufacturing your own capital growth.

Back to top

The future is looking rosy for landlords

Don't just take my word for it! Landlords across the UK have been sharing their views with a well known brokerage on the buy-to-let market as well as their plans for the next 12 months.

The results, which are updated quarterly, have now been compiled and I think you'll agree that they make interesting reading:

Landlords' expectations for the next year

73% of landlords rated capital growth good or very good for the next 12 months.
67% of landlords rated rental yield good or very good for the next 12 months.

Overall, landlords are more optimistic about the next 12 months than they were when questioned for market research in February 2007.

Only 4% of landlords would consider selling their properties if the Bank of England base rate was to increase further.

69% of landlords feel that property offers either the strongest or most reasonable investment growth compared to the general investment outlook.

This is a positive result, proving that the majority of landlords are in the market for the long term. Although rate rises may deter some people from entering the buy-to-let market, it doesn't cause concern for experienced landlords.

Back to top

Don't stop at Crewe if you want to buy rental property

New research has revealed the best . Durham - and worst - Crewe - student towns to buy rental property.

The average rental yield for a UK student property is a healthy 6.59%, with student rents a reasonable £60 per week and house prices across the regions stabilising.

Durham University, with low property prices and high rents offers the best return on investment with rental yields of 9.12%, whilst Nottingham follows not far behind (9.05%). Northern towns of Stoke, Sheffield and Blackpool complete the top five most profitable university towns.

At the other end of the scale, Crewe fared the worst in terms of renting to students, with rental yields at just 3.40%. Student property in the South also gave a lower return than most universities with Pontypridd, Guildford, Cheltenham and Devon completing the bottom five. This can be attributed to the recent high house price growth and rents remaining fairly static.

Top university towns Oxford and Cambridge have differing prospects for potential landlords, with Cambridge offering a high yield of 6.82% whilst Oxford offers just 5.08% despite similar rental income in both universities (£84 and £79 per week respectively).

The research was carried out comparing the average rent and the average house price for the university town, based on a three-bedroom house being rented to three students.

Back to top

"Never measure the height of a mountain until you have reached the top. Then you will see how low it was." - Dag Hammarskjold 1905-1961, Swedish Statesman, Secretary-General of the United Nations

"Circumstances may cause interruptions and delays, but never lose sight of your goal. Prepare yourself in every way you can by increasing your knowledge and adding to your experience, so that you can make the most of opportunity when it occurs." - Mario Andretti Auto Racer

Facing the Enemies Within by Jim Rohn

We are not born with courage, but neither are we born with fear. Maybe some of our fears are brought on by your own experiences, by what someone has told you, by what you've read in the papers. Some fears are valid, like walking alone in a bad part of town at two o'clock in the morning. But once you learn to avoid that situation, you won't need to live in fear of it.

Fears, even the most basic ones, can totally destroy our ambitions. Fear can destroy fortunes. Fear can destroy relationships. Fear, if left unchecked, can destroy our lives. Fear is one of the many enemies lurking inside us.

Let me tell you about five of the other enemies we face from within. The first enemy that you've got to destroy before it destroys you is indifference. What a tragic disease this is. "Ho-hum, let it slide. I'll just drift along." Here's one problem with drifting: you can't drift your way to the top of the mountain.

The second enemy we face is indecision. Indecision is the thief of opportunity and enterprise. It will steal your chances for a better future. Take a sword to this enemy.

The third enemy inside is doubt. Sure, there's room for healthy skepticism. You can't believe everything. But you also can't let doubt take over. Many people doubt the past, doubt the future, doubt each other, doubt the government, doubt the possibilities and doubt the opportunities. Worse of all, they doubt themselves. I'm telling you, doubt will destroy your life and your chances of success. It will empty both your bank account and your heart. Doubt is an enemy. Go after it. Get rid of it.

The fourth enemy within is worry. We've all got to worry some. Just don't let it conquer you. Instead, let it alarm you. Worry can be useful. If you step off the curb in New York City and a taxi is coming, you've got to worry. But you can't let worry loose like a mad dog that drives you into a small corner. Here's what you've got to do with your worries: drive them into a small corner. Whatever is out to get you, you've got to get it. Whatever is pushing on you, you've got to push back.

The fifth interior enemy is over-caution. It is the timid approach to life. Timidity is not a virtue (unlike humility . they are different); in fact, it can be an illness. If you let it go, it'll conquer you. Timid people don't get promoted. They don't advance and grow and become powerful in the marketplace. You've got to avoid over-caution.

Do battle with the enemy. Do battle with your fears. Build your courage to fight what's holding you back, what's keeping you from your goals and dreams. Be courageous in your life and in your pursuit of the things you want and the person you want to become.

Back to top

"One of the secrets of success is to refuse to let temporary setbacks defeat us." - Mary Kay 1915-2001, Founder of Mary Kay Cosmetics

"Our greatest weakness lies in giving up. The most certain way to succeed is always to try one more time." - Thomas Edison 1847-1931, Inventor and Entrepreneur


Back to top

What's available?

We currently have the following investment opportunities.

UK property

Gatehouse Lofts, Amber Wharf, Shipley, West Yorkshire BD17 7BE
Spa Court, Spa Road, Gloucester GL1 1UZ
Barkers House, Gleadless Road, Sheffield S2 3AE
Waterloo House, Waterloo Road, Manchester M8 8BT
Perseverance Mill, Dewsbury Road, Elland, West Yorkshire HX5 9AX
Birkdale Court, Tarbock Road, Huyton, Liverpool L36 5XN
Sherbourne Park, Chandlers Way, Sutton Manor, St Helens WA9 4TY

Overseas property
Our overseas property division . Property for Life International - now has its own website. Take a look at www.pfl-international.com

If you are looking for quality overseas property you need look no further. Whether you want discounted French property with guaranteed rental returns, a luxury villa overlooking the Mediterranean or maybe something a little more exotic we can help.

Property for Life International is growing fast and over the coming months we will be offering even more exceptional opportunities in an increasing choice of locations.

Please go to www.pfl-international.com>www.pfl-international.com for full details and look out for more great opportunities coming soon!

Upcoming events

Over the coming months we will be running a number of property investment academy sessions as part of our ongoing academy programme. For full details of the academy programme and an online booking form, please take a look at http://propertyforlife.com/whyinvest/education.html. Additionally, our events calendar can be viewed at http://propertyforlife.com/profile/events.html.

Back to top

Do you fancy a spending spree at one of the UK's leading department stores?

The new look Property for Life referral programme can offer you just that.

All you need to do is tell an interested friend about Property for Life and you could soon have a minimum of £250 in gift vouchers to spend in any John Lewis or Waitrose store.

Quite simply, for each person introduced by you who then purchases a property through us you will receive a cool £250 in John Lewis gift vouchers. If they purchase more than one property you will receive £250 in gift vouchers for each property they purchase. You could soon be well on your way to that spending spree.

Remember, the more people you introduce the more chance you have of grabbing at least £250. So why not tell your friends and family about Property for Life? Make sure they register on-line at www.propertyforlife.com/register. When registering it is important that they select the recommendation option in the 'How did you hear about us' section of the form and include your name in the 'other' box.

Please note that the referral programme is on a per property not a per person basis. Please see www.propertyforlife.com/services/referalprogramme.html for further information.

Back to top