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Strategies to boost your return on investment

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Return on investment is the annual profit, minus income costs, generated by an asset, divided by the total cash you’ve put in. This sum looks simple and easy to use. However, it is important to take into consideration a number of variables. Expenses must be considered such as unexpected repairs or regular maintenance works, also take into consideration your financing method. Have you used a mortgage?

If you have bought a property without a mortgage, using your own money only, the net yields and the return on investment would be the same, as you are putting in the full purchase price. However, if you are purchasing with a mortgage, the figures may look slightly different.

A tedious debate that has emerged in property is how you should accurately calculate the return on investment. What costs should be accounted for? On the whole, everyone has their own ideas of what allowance for maintenance and voids should be included. Being consistent is key, as you can then compare different properties with each other.

Returns can include increased profits and reduced expenses. If you clearly define goals from the outset, and set as many quantifying benchmarks as possible, you will be able to create a more prosperous strategy to hopefully maximise your return on investment. Before you set out on your investment journey, it is important to note that offering a higher return may come with a higher risk. You should outline how much risk you are willing to take on.

Make sure your property is ready to rent

One of the easiest ways to maximise your return on investment is by making it rent ready before marketing. Ensuring the premises is ready and clean, fresh paint, clean carpets and working appliances must work, and all necessary repairs and maintenance should be complete. Purchasing property from experienced property companies like RW Invest guarantee your property is 100% ready for new tenants moving into the premises. Ensuring your investment property is rent ready as soon as possible will shorten the time it takes to lease the property and boost your return on investment.

Market well

Marketing is one of the largest determiners on the quality and quantity of application you receive for your property. Increasing exposure will ultimately reach more people and in turn get more tenants. The internet is the first place tenants look when trying to secure a new place to live, so be sure to strategically market online.

Reduce tenant turnover

If you keep tenant turnover to a minimum and keep good tenants, this will increase your return on investment in the long run. Maintaining good communication with your tenants makes them feel valued, which will help with things such as paying rent on time and taking care of the property because there is a mutual respect. Void periods, whereby the property is empty can be one of the biggest detriments to property owners, therefore avoiding vacant periods by keeping tenant turnover to a minimum will help reduce vacant periods.

Investing in real estate can be an extremely prosperous move, that can not only act as a second income for many but also as a sole income, providing it is thoroughly researched with no stone left unturned. Sourcing properties with high return on investment is easy providing you follow a few easy steps and bear in mind how to create the most successful future financially.

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Student @ Advanced Digital Sciences Center, Singapore. Travelled to 30+ countries, passion for basketball.

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Understanding The Risks That Come With Driving A Truck

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Being a truck driver is often seen as one of the easiest jobs around, with a lot of people assuming that this role is just a matter of going from A to B. In reality, though, the truck drivers that everyone relies on to transport food, goods, and other essentials have one of the most challenging jobs around. There are loads of risks that come with taking on a role like this, and this post will be exploring them to give you an idea of what the average truck driver has to contend with. 

Theft & Robberies

Many of the world’s criminals don’t plan their attacks. Instead, they will act when they see an opportunity, and a heavily laden truck can be a clear invite to someone who is willing to break the law. Truckers have to work hard to protect their cargo, especially when they make overnight stays, with many professionals in this field choosing to sleep in their truck to make sure that they don’t find themselves with nothing to deliver. 

Accidents & Crashes

Accidents are becoming increasingly common on modern roads, with more and more drivers increasing the risk that a truck will hit something. If you ever find yourself in this position, you can discuss your case with an expert truck accident lawyer to make sure that you can get the help you need. This process can be hard, and drivers are often left without their truck while they work to get compensation. This can make it impossible to work, making an accident the last thing any trucker wants.

Accidental Death

Trucks are usually very large, carrying huge amounts of weight around with them over long distances. It can be all too easy for a simple mistake to result in someone dying, with pedestrians and other drivers to worry about. Causing an accidental death can be almost as bad as doing it on purpose, with people often going to prison when this sort of issue occurs. Taking advanced truck driving courses can be a good way to lower this risk.

A Dangerous World

It’s no secret that the world can be a dangerous place, and truck drivers often have to visit places that are nowhere near as safe as their home to get their job done. This puts a huge amount of risk into the job, especially for truckers that carry expensive goods through places that don’t have the right legal infrastructure to help them in an emergency. This sort of problem occurs quite often, but this is much rarer than the other issues on this list, as many truck drivers stick within their home country.

As time goes on, the role of a truck driver is going to change quite a bit. Autonomous trucks are already in development from several key companies, making it only a matter of time until the largest vehicles on the road are largely controlled by computers. Until this point, though, you are going to have to rely on your truck drivers for the items you need.

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4 Ways to Boost Your Home’s Value

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We all know how important it is to take care of your home to make sure that it lasts for as long as you want to live there (and beyond, too). But, when it comes time to move, you want to make sure you can get as much money as possible from your home. To do this, you need to think of how you can add value to your home now, and here are four of the best ways to do that. 

Add Some Luxury 

Luxury is not something everybody wants from their home. Some people prefer the modest and rustic styling of a family home, away from all the minimalist nonsense. However, there is the other side of this, and for others, luxury is a dream for homeowners. 

There are plenty of luxury options available, too. These can include a home gym, a welcoming spa or large bathtub, or even an outdoor pool. You must research the best companies to install this, and find adequate Waterproofing and Concrete Supplies to make it a success, but whichever luxury options you add to your home, you’re guaranteed to increase its value. 

Make It Rentable 

If your kids have moved out and it’s just you, your partner, and the goldfish left, you can consider making your home rentable if you want to increase its value. Transforming your child’s old room into a place for someone to stay during their travels is an easy way for you to make some money, but you can also take it a step further. 

If you want to increase the value of one property, there are few better ways than to transform it into several properties. If you convert the upstairs area into an apartment, you (almost) double the property’s worth, especially if you’re in an appealing part of the city. 

Consider Curb Appeal 

Curb appeal is arguably one of the most effective ways to increase your property value without spending too much money. Often, it only takes a quick mow of the lawn and replacing the flower beds to make it more attractive. You can also add a fresh coat of paint that will make your home stand out, and this will immediately attract the right kind of attention, especially compared to the drab colors of other homes on the block. 

Expand the Space 

Renovations and extensions are two excellent ways to maximise your home’s value as they will immediately add more space. This is perfect if you want to modernise your home by upgrading the kitchen or adding an en-suite to the master bedroom. 

However, some renovations can be more hassle than they are worth. So, before you do anything, make sure you research reliable construction companies in your area so you don’t get taken for a ride. 

Boosting Value 

Improving your home’s value can be expensive, but hopefully, the work is good en0ugh that it adds at least a zero to the end of your property’s price when it goes up on the market. If you can’t afford a substantial renovation or installation, there are also small but effective options to consider. It’s all about what you want, what you can afford, and how much you need to spend on your new home.

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How To Offer Further Value To Your Clients

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It’s important to never take your clients for granted. That said, sometimes businesses can get lazy, especially when it comes to taking care of their most loyal. It can even be that businesses make riskier decisions as a result, or just expect their clients to follow them everywhere.  

If 2020 has proven anything, it’s that businesses simply cannot rely on the past to dictate their future. For this reason, moving into the new year can provide us all with a chance to consider how to make the most of our presence, and how to keep those who trust us as a firm around. For this reason, figuring out a few ways to offer further value to your clients can only be a good thing. Not only will this allow them to recommend you more sincerely, but they will retain their consumer confidence for now and throughout the rest of this year, which is never something to be taken for granted as everyone is having to manage their financial affairs more tightly.

But how could you achieve this/? Let’s consider:

Offer A Modular Service

It can sometimes be that offering a modular service is best. That is, changing your packages to ensure staff can buy what amount of your service or product set they want can be a great idea. For instance, if you sell desks, why not also sell desk parts so people can upgrade? This way, you can encourage purchases that may not have otherwise happened. It can also help you better appeal to more people, people who believe that a modular service is the essence of business promotional confidence.

Use Outsourced Help Where Appropriate

It can be a great idea to offer certain services that may go above your reach, just to go the extra mile for certain clients. For this, you might not have to completely refer them to another service. Using an outsourced helper, such as a graphic designer, printer or someone with technical or consulting capacity, can really help you deliver the best of the best. They may also help you better your services through advice and direct assessment of your services, helping you avoid learning the hard way. Contractors can help you out in a pinch, or serve as long-term aids. That can be a boon for many businesses through and through.

Listen To Their Needs

Of course, you can think up a million methods to help your clients, but do you actually know what they want? It can’t hurt to ask sometimes. This doesn’t mean the customer necessarily knows what they want, or how they are best served, but it’s worth taking their opinions into consideration when designing your future. This might influence you when making the tough decisions, or when considering your future marketing, or even if just wanting to determine who cares enough to respond to your survey. It can truly make a huge difference going forward.

With this advice, you’re sure to offer further value to your clients, and to connect with them more readily, through and through.

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