All the property “gurus” (and I’ve really started to despise that word) advocate buying BMV property – “you make your money when you buy the property not when you sell it” as Robert Kiyosaki (the guru’s guru) says.
One of the best ways of doing that is buying repossessed property at below market value. Given the state of the economy, you can find plenty of these deals through estate agents and auctions and, if you are buying large numbers direct through the asset management companies. It helps enormously if you are a cash buyer and at the very least you need to have funding already in place as the seller will always want to see proof of funds before even considering an offer. Continue reading The Truth About Buying Repossessed Property
Apparently “shades of grey” now means something different to what it meant a year or so back. I chuckled when I read a comment left on this forum last week by a landlord who suggested it was the hair colour changes an average male landlord experiences when dealing with his first tenant from hell.
This made me think, as a bit of fun, what else might 50 shades of grey relate to in our industry?
Here’s a few to get you started:- Continue reading 50 Shades of Grey for landlords and letting agents
Didn’t know who else to ask about this – I was an avid user of both Property Snake and Property-Bee to research property prices and source BMV (Below Market Value) deals
Property snake seems to have disappeared from view – Google searches draw a blank and my bookmarks also link to nothing (“oops, sorry can’t be found!”) Continue reading Property Snake and Property Bee
Mentoring courses and property networking – have I been a Plonker Rodney?
What a plonka!
Are landlord mentoring courses value for money and are many of the property networking meetings we get invited to simply a sales pitch?
When I started investing in property, back in the late 1990’s, there was no such thing as buying below market value (BMV) because the housing market was absolutely booming. Even if you were prepared to pay the FULL asking price for a property – the investor was at risk of being gazumped by a more enthusiastic investor or a first time buyer (anyone remember them?) who would pay OVER the asking price to secure their dream investment/home. Continue reading Mentoring courses and property networking
Thanks to Ian Cahill and John Maynard for submitting these Landlord Stories. For details on how to submit your landlord story please click here.
Ian Cahill’s Story – CD’s, Tigers and yet more Tigers
“I had a buy to let house which I let to two tenants(co- habiting) and the man collected CD’S and the woman collected stuffed tiger toys. Continue reading More Landlord Stories from Ian Cahill and John Maynard
Today’s issue shines the spotlight on the private rented sector providing housing to a diverse range of tenants. Headlines and views of guest columnists cover the effects of Universal Credit reforms and HMO article 4 directions. The LHA expert, John Paul, guides landlords through the LHA claim procedure in this fifth article of his series and Mark Alexander calls all landlords to end the vilification of our profession and gain a voice.
Continue reading Property118 Landlord Newsletter – Issue 105
Consumer champion gets tough on ‘instant equity’ claims
Slick property salesman trying to talk investors in to signing up for cheap buy to let homes with ‘instant equity’ will have to prove the advertised discount is real or face the wrath of consumer watchdogs.
One firm – Nottingham-based Property Secrets – has already fallen foul of the Advertising Standards Authority (ASA) for claiming investors could earn £25,999 instant equity when buying apartments. Continue reading BMV Instant Equity Adverts Unfair says ASA
Estate agents quoting misleading below-market-value home sale prices have been reprimanded by the advertising watchdog.
The Advertising Standards Authority (ASA) upheld four complaints against Express Estate Agency, run in Manchester by Sell Quick. Continue reading Below Market Value Agent Advertised Misleading House Prices
As an Airline Pilot, Ray Pearce has a fairly unique perspective on the changing trends of UK holiday makers; “Over the last few years I’ve observed an increasing trend for UK families to choose to holiday within the UK rather than flying abroad, so for me, investing in holiday lets is kind of hedging against my day job as a pilot. Also, the right properties can give great cash-flow and offer interesting tax advantages”.
Continue reading Airline Pilot’s Holiday Let Strategy Takes Off