Down valuations can wreck a sale just when it feels done. Here’s what’s driving lenders to be more cautious right now, and how investors buying or selling can protect themselves from it.
In fact, I know of instances where finance was pulled by the banks on the day of completion, leaving the property investor unable to complete the purchase, and in some cases the developer then sued the buyer and made them bankrupt! Now, I’m not saying this to scare you, there were very particular…
You’ll often hear it said in property that “The value is what someone will pay for it” but technically, according to the RICS (Royal Institution of Chartered Surveyors) that’s not true. And to (perhaps) make things even more confusing, value is an opinion, and more than one opinion can be right. Sometimes multiple…
One thing I get a little annoyed about is when I see an ‘expert’ on social media telling us that such and such a strategy is outdated and doesn’t work anymore. Let’s be honest, their ‘hidden’ agenda (not so well hidden) is usually to sell us something, most often a course promoting a…
Setting goals might be boring but we need to do it. Goal setting is one of the key things for success in any activity, property investing included. When I set goals, I tend to achieve them. When I don’t set goals, I tend to just bumble along. So what should I do? I…
I don’t consider myself to be an old person, yet, but I have to agree with what you hear a lot of old(er) people saying. Namely things change and move on very fast. And this is as true in property as anything else, especially when it comes to the technology, software, apps…
One of the many things I’ve learned over the last 40 years in property, and 25 years in buy to let, is that having the right systems and processes in place can save a lot of time, and potentially a lot of money, even if there’s some initial investment to get the system set…
Property is a people business. So it follows that Buy to Let property investing is also a people business. If you are more ‘details minded’, and like to think of property investment success in terms of a ‘formula’, this will be frustrating. The reason why a ‘formula’ would almost certainly never work (completely) is because,…
This is one of the main misconceptions in property: that great deals are found. Yes, it’s true you may stumble across a great deal from time to time. But much more likely is that you’ll find a property (deal) which doesn’t quite work, and you’ll tweak it and make it work. …
After I was made redundant, I spent many years working on my own, as a classic “solo-preneur” building my buy to let, property investment business. I then found the power of working with other people. But, if I am to be totally honest, I don’t enjoy working with people all that much. It has…