In the past, if you wanted to make a profit out of the money that you had in your bank account, you would simply be abel to leave it there and just watch the interest grow in front of your very eyes. These days however, when the interest rate is so low, it no longer makes sense to just leave our money in our accounts. We are always looking for new ways to make more money than we’re already making.
Luckily, at the same time as the interest rates are low, the property prices are relatively low as well. This means that you should be able to purchase a small property if you have some savings, and then you should let it out to tenants and they would be able to pay you at least £300 per month, probably more depending on where you have bought your property.
This is much better than the amount of interest that you’d have if you left your money in the bank, and you wouldn’t have to worry about your investment being in trouble either, because the property market is bound to pick up before long. This means that, in addition to the “interest” you earned whilst letting out your property, you would still be earning extra money because of the fact that your property would be rising in value as well.
If you have the money to invest into property, it is more than worth doing, as it means that you can relax knowing that you have something to fall back on if you should ever get made redundant or if you need some extra money for some reason at some point during the course of your life. I have recently purchased my fourth property to let out, and can confirm that it is one of the best ways to make money. For a small cut of my profits, my letting agent sorts everything out including collecting rent, insurance, damage to the property and everything like that. This means that I literally don’t have to worry about anything at all, and can just rent the place out and forget about it. I look forward to the four separate days each month where £400 gets paid into my bank account without me having to have done anything really to earn that amount.