How To Make A Profit As A Landlord In 2024: In a recent video for my YouTube channel, I shared the secrets to how you can actually be part of the top 1% as a property investor. Yes, they're killing landlords. Yes, they're making it really difficult to enter the market. But if you know how to navigate through that. If you know what the top 1% know. If you know how to actually find the loopholes. Then you can be extremely profitable in the property market in 2024.
So, if you want to learn exactly how to make a profit as a landlord in 2024, I highly recommend watching the full video at the top of this page.
In the video, I go into detail about the steps you need to take as a landlord in 2024. There is a lot to cover, but in this article, I will give you 3 things every landlord needs to know to be profitable in 2024. If you find this article helpful, please consider sharing it on social media. The more people know how to make a profit as a landlord in 2024, the better!
How To Make A Profit As A Landlord In 2024: 1. Understand Taxes!
The government doesn’t allow you to write off mortgage interest on buy-to-let properties any more. That means, even if you are losing money as a landlord, you could still be paying tax for the privilege! This has caused many landlords to struggle to make ends meet, and some landlords have even given up entirely.
The good news is that if you buy the property in the name of a company, you can still right these payments off on your taxes. The even better news is, it can even be a brand-new company that you set up for the purpose of buying the property! You simply sign a document saying that you are personally responsible for the debt, as you would be if you got the mortgage in your personal name.
How To Make A Profit As A Landlord In 2024: 2. Don’t Have Tenants!
In recent years, it has become more difficult to remove tenants that don’t pay their rent. Tenants rights, and an overloaded court system, has left landlords footing the bill. Often it can take a long time to get a tenant who isn’t paying to leave, and there is sometimes little chance of recouping any of the money owed. So what is the solution? Don’t have tenants!
But what is the point of being a landlord with no tenants? How will you make any money? The answer is to have guests, rather than tenants! Tenants are people renting the property as their home. Guests are just staying in the property temporarily. You can rent your property on sites like Airbnb and Booking.com to holidaymakers, contractors, people wishing to relocate, etc. Because they are not tenants, you can easily and lawfully remove them for non-payment should the need arise.
How To Make A Profit As A Landlord In 2024: 3. Education, Education, Education!
As you can see from the last couple of points, if you know how the system works, you have an advantage over many other landlords! This means continual education. You need to stay informed about changes in legislation and industry trends.
You should attend as many property training and networking events as possible. You may have years of experience already, but things are always changing. Even small ideas or changes could end up making or saving you thousands of pounds. Make investing in yourself a priority.
How To Make A Profit As A Landlord In 2024: Get Trained By Me!
If you want to know how to make a profit as a landlord in 2024, the easiest way is to learn from a property expert. Join me at my next £1 training event!
On the course, you will learn how to:
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Become a property investor using other people’s money so that you can get started straight away
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Utilise the 5 different types of raised finance so that you know exactly what to offer and when
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Find the perfect properties for the BRR strategy
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Recycle your money so that you can ‘rinse and repeat’
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Build a power team you can trust, so that you can save time and money
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And much more!
Tickets are only £1, and you can get yours here. If you are ready to take action, I hope to see you very soon!
