Real Estate is certainly a lucrative investment avenue that has potential for high returns. When we talk about Real Estate, we mean the ‘actual physical properties’ and not the virtual pieces of land for investments that are getting popular in the contemporary world.
Jason Jouan, a successful serial property investor, real estate developer, entrepreneur, and influencer owns several properties across the United Kingdom and is the perfect person to advise newbies in the industry regarding how to go about their property investment journey.
Property investing can be cumbersome and overwhelming. With the magnitude of opportunities available, legal compliances, and chances of going wrong, a streamlined guidance is rather important, especially in the initial days of one’s career as a property investor.
Jason Jouan started out investing at a young age. Today, his portfolio has crossed well over a million dollars. These are the top tips that Jason Jouan has for newbie investors:
– Location is God:
Just like we respect God and prioritize him over everything,it should be the same with the location of the property that you want to invest in. Emerging neighborhoods are a great place to base your investments in.
If the locality has major development works scheduled in the near future, it is a cherry on the cake as then the value of your property is certain to appreciate.
– Formulas Over Feelings
The famous BRRR Buy Refurb Rent Refinance strategy in real estate is one of the strategies that Jason has mastered. Often the first which newbies follow upon starting their property investment journey. According to Jason Jouan, while it can be a great strategy, many novice property investors splash a lot of money on renovation. They go overboard past the essentials of what needs to be added that doesn’t make a difference on the end value and subsequently leaves more money in a deal than they should.
Jason Jouan’s Instagram account has some practical tips about buying properties and refurbishing them within the budget.
– Educate yourself and find a mentor
‘Your network is what makes you successful and I have to thank a close friend of mine! We got in contact again after a few years and after we had a chat and he showed me the properties that he owned along with how he was adding value to others,’ says Jason Jouan.
His strong advice to newcomers in the property industry is to join local investment groups, meet like minded people, and self-learn about as many things as possible in the industry.
Jason also has clients that invest in his ventures that fetch anywhere between 10-15% ROI. He has spent hours working on his business, improving his negotiation skills, hunting for profitable deals in his city and is well on his way of creating a legacy in the property industry!