Manage episode 261834064 series 2342556
If you’re wondering what life after lockdown will look like for the property market then tune in today to discover how to make the most out of a rare opportunity. Mark discusses when best to purchase property at the lowest price point, to the safest revenue streams if you’re just starting out and what strategies you should use when investing post COVID-19.
- There is likely to be a decline in house prices once Estate Agents are back up and running again. Unemployment will rise significantly therefore the pressure on housing prices to fall will be great. There will however be many opportunities to buy cheaper with increased yields with many people preferring to rent rather than buy.
- No money down is still possible. You could look into ‘rent to rent’ deals which may include a very low amount of money to be used for legalities. You could also look into JV partnerships which include little to none of your own money used as well as leases on properties to reduce the capital that you need to put in up front to zero, here making it no money down.
- If you are starting out in property at this moment in time, it would be advisable to go with single let properties as well as HMOs and to stay away from hotels and serviced accommodation.
- When we come out of lockdown the economic crisis will not suddenly revert. There will be a period of time where it will be quite depressing, there will be a nice window of opportunity to purchase properties at a lower price point than before the pandemic.
- To obtain accurate and trustworthy information in regards to the economy and the current situation in regards to the pandemic, read valuable news source such as the Financial Times or the Prime Ministers broadcast. Steer clear from listening to people's opinions on social media.
“There are going to be many opportunities which you will want to take advantage of.”
“There are lots of industries that will do quite well out of this.”
“Put your cash in the bank and in a savings account!”
ABOUT THE HOST
Mark Homer is an entrepreneur investor. He has worked with investment since he was 15 years old using the laws of wealth! He is a spreadsheet analyst with an impressive following from major publications including BBC Radio, The Wall Street Journal, The Independent, and co-authoring the UK’s best-selling property books. Mark has always looked for the best investment vehicle, and at the end of 2007 with Rob Moore the co-founder of Progressive Property his joint portfolio produced more profit than any of the other investments he’d tried in the last ten years, combined.
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