Property is probably the best example of a good investment opportunity but instead of scouring the UK for a pokey flat to let out, why not go further afield and invest overseas?
First, before doing anything, you must think about the long term. Do you intend to simply use the property as a holiday home and sell it in the future? If so you need to consider maintenance on a mostly vacant property. Or, do you intend to let the property out to holiday makers when you are not using it? If so, maintenance again must be considered, on top of any letting fees.
France, Turkey (the number of overseas property purchases in Turkey rose by 78% in 2013 alone), Austria and Portugal are just a few of the best countries to invest your money in through property. Many have experts on hand to advise you when making a purchase; in Portugal for example you can buy and be aided through the process through specialists Portugal Property.
Another popular but unusual investment is classic cars, with many people shunning a savings account and buying luxury vehicles which they don’t drive often but have stored while growing in value.
What the experts refer to as ‘barn finds’ can be the golden eggs of vehicle investment. If someone offers you a rusting old car then it’s recommended that you buy it. With some expense and restoration it could be worth a lot more. For example, an Aston Martin DB5 bought for £1,500 and stored in the owner’s barn for 30 years went for £320,700 at auction.
Property and classic cars are big investments, so if you have a smaller amount of money to play with then you could start off with collectables. Sporting memorabilia is particularly profitable with merchandise signed by players growing in value and the market for autographed items is worth $5billion globally. This includes kits, photos, balls and equipment and it goes without saying that the older and more popular the player the better.
If you’re not much of a sports fan then Lego is a particularly good collectable to invest in, but don’t think that you just can get your bricks out of the box to play with. Retired sets make the most money, simply because pristine sets are in limited supply but you can buy and sell Lego on a specialist investor site such as Brickpicker, which is basically a special stock market for the toy.
You might not see a profit immediately but with a little patience and skill in picking the right sets, as well as keeping them in great condition, you could re-sell them for a high price in the future. For example, Star Wars Lego is a big profit maker. If it’s worth £4,495 on Amazon now just imagine how this price can increase in the future.
However when it comes to investing if you are dedicated enough anything can make you money. Tropical fish and aquariums, for example, are another more unusual investment you can immerse yourself in, with rarer fish sold on for higher prices. In conclusion, do your research, pick something you are passionate about and be patient to see that return in the future.