New EICR to cover any changes made by outgoing tenant?10:00 AM, 4th May 2021
About 2 weeks ago 95
Let’s face it. If you put ten so called experts in the same room you will get ten different opinions. Also, if you look close enough you will generally find an ulterior motive to most so called expert opinions on future economic or investment conditions.
Point in case is a property news article I read this week on the Landlord Zone website by a Knight Frank estate agent spokesperson. In the article they talked up a boom time for London property investment for several years to come and portrayed a symphony of doom and gloom for property values North of London! Almost to the point where we might as well all hand our keys back to the bank. With Knight Frank having 20 estate agent offices in London I wonder why? And I found the press article answer why…
“PARTNERS in the upmarket estate agent Knight Frank have landed a £73 million pay out after profits rose by 10% in the last financial year, buoyed by foreign investors flocking to London’s luxury property market”.
Today, if it’s not the Euro Crisis, it’s the Double Dip Recession quandary. And just to mix it up they throw in the Middle East crisis where the local population are busy fighting each other for control of worthless desert. Which by the way makes a change from the USA just invading in the name of Oil? Sorry did I say Oil, I meant to say in the name of peace and injustice.Ok so mortgage finance is harder to obtain and deposits needed are now larger, but what’s the biggest problem today? Well it’s the total bombardment of media negativity on topics such as unemployment, economic downturn, and trade deficit. You name it, the media keeps repeating it and the public keeps buying into it. It’s a vicious circle of negativity. Remember, only bad news sells!
In the UK we do tend to suffer too readily from negativism; “We’re inundated with negative news and events”. It’s easier to be negative than positive because there’s so much reinforcement for the negative. As a result our economic boom and bust cycles tend to be more volatile than most other countries. I am reminded of the man that continually complains about the sex, nudity and violence on his VCR. Remember, if you want a positive attitude then you must choose to feed your mind with optimistic, hope-filled, motivational and enthusiastic information.
So what’s the answer? Laughter is a great motivator. And for investing, “Value Investing” is the answer. You must ignore the doom and gloom-mongers and look for real bricks and mortar value. How? By buying property with substantial “Built-In-Equity” from day one! Why? Because with Built-In-Equity from day one the downside is limited, and the future upside potential is huge. Where and how do you find such property value? Well today’s best property value and bargains are to be found …
In the next episode of the “Property Maverick” I will show you where and how to buy new or less than six years old properties for up to 40% less than what buyers originally paid for them as far back as 2005. Yes, that’s correct, a 40% discount off what people paid 6 years ago; unbelievable but true!
Until we speak again. Take what you do seriously and don’t take life too seriously; have fun, be different, be a “Maverick”. And remember there are only two things certain in life, and that’s “Death and Taxes”.
So enjoy the ride and do tune in for the next episode of the “Property Maverick”.
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