Adding A Unique Property To Your Portfolio
If you’re involved in the world of property investment, you will know how important it is to diversify your portfolio. It proves that you have a wide range of experience, that you are flexible and adaptable and that you have the imagination and organizational skills to make any property project work. Here, we’re going to talk about the advantages of including a unique property to your portfolio.
While you may be comfortable with your portfolio brimming with straightforward development programmes and resales, it’s not especially inspiring for anyone interested in the work you do. Instead, proving that you’re willing to try new things and experiment in different fields shows that you have the vision and the commitment to make something work even if it’s not in your comfort zone.
Take hotel rooms, for example. Lots of investors don’t even know that it is possible to buy a hotel room and have it run by the hotel owners as a sponsored space. For instance, you could buy a large hotel room in a swanky central London hotel and have it transformed into an elegant, luxurious suite. It is like a buy-to-let project but allows you to enter the lucrative hotel industry and try your hand in the commercial sector.
Likewise, you might decide to pick up an unusual property such as a windmill or a lighthouse or a beach house, where you can let your imagination run wild and transform it into something extraordinary. If you can pull it off, it’ll be a fantastic addition to your portfolio and will attract a lot of potential buyers looking for a real talking point of the property.
Diversification is paramount in any property portfolio. This is the same as any other type of collection, whether it’s stocks and shares, modelling or graphic design. You want to show off your talents throughout the spectrum, like a one-trick pony who doesn’t venture out of their safe zone will cease to impress people after a while. You may be a whizz at transforming shabby old flats into chic, couture abodes for young urbanites, but if people have seen it all before, it will stop exciting them.
And what’s more, the more properties you work with, the more you’ll learn about your skills and wealth in general. You might even find out about a brand new type of building you love working with so that you can expand on the skills you pick up here in the process.