I’m sometimes asked what is the best way to raise finance for my buy to lets?
This might sound like a flippant answer but it’s not, this is what I genuinely think. The best way to raise bank finance for buy to let is by going through a broker, you should not be trying to raise bank finance on your own.
I’ll sometimes see questions and comments on forums and Facebook groups and like where people say can you recommend a bank who will lend me on this type of buy to let property and at the point I read that I think to myself they don’t really know what they’re doing, and if you’ve done that then no disrespect but hopefully you’ll realise that what I’m saying now is going to be very helpful to you.
What you need is a decent broker.
Why?
Because just take the world of buy to let for example, there’s something like 2,000 different buy to let products on the market and about 30 or 40 different lenders out there many of whom you’ve never even heard of. Their criteria are all different and the products which they’re offering are changing all the time and to keep up with that is a full time job, it’s probably more than a full time job, and you need a decent broker who can do that for you. You can’t just go online and start googling buy to let finance and then imagine you’re going to get the right product. You need a product which is absolutely right for you.
So a good broker is worth their weight in gold.
Sometimes people say to me “Peter is it possible to find brokers who don’t charge fees?” or “How can I make sure my broker doesn’t charge me too much in fees?” but I don’t even think that because of the way I look at it is that my broker is helping me to raise finance to help me to build my portfolio which is helping to build my property business and one day that property business is going to give me all the cash flow that I need and at that point I’m not going to be looking back thinking I wish I hadn’t paid my broker so much. It’s a cost of doing business.
So definitely getting a good broker.
How do you find a good broker? That’s the next question.
Well the best way to find a good broker is through referrals so I’d go onto the different Facebook groups and the forums and actually ask people who do they use and who would they recommend but do bear in mind that ideally you want a broker whose whole of market which means they can access every product on the market pretty much and you also want a broker ideally who was a property investor themselves so they understand what you’re trying to do.
If you want a referral for a good broker then I’m very happy to put you in touch with my broker please email me on thepropertyteacher@gmail.com and I will be happy to put you in touch with my broker.
If you’re just speculatively thinking about investing at this point then probably not the time to email me but if you’ve got a deal lined up or if you’re about to go and look for your first deal and you want to know what finances you can raise then please drop me a line.
By the way I hope you’ve enjoyed this video and I hope you found it educational and inspiring and informative and if you have then please don’t forget to like or subscribe or follow depending upon which platform you’re watching this on. There’s usually a button down here somewhere which you can click which will allow you to like, follow, subscribe and if you do that then we can keep in touch and I can send you even more great property investing content.
I hope you found that informative and inspirational and if you want help in property please do come over to my website www.thepropertyteacher.co.uk. Loads of great resources there including my blog. There’s loads of free videos, loads of great articles, there’s free reports to download including Learning With Peter where you’ll be able to access resources like my video courses, like my ebooks including my home study course The Successful Property Investor’s Strategy Workshop which I’ve literally sold thousands of copies of which takes you through how I started in property literally with none of my own money but how I was able to build a portfolio of £2 million worth of the property in just four years. I’ll show you everything that I did right so that you can do the same and I’ll show you everything that I did wrong, I tell you about all of my mistakes so that you can avoid them so that you can progress in property far more quickly than me.
Until next time, here’s to successful property investing.
Peter
Peter Jones
(ex) Chartered Surveyor, author and property investor
https://www.ThePropertyTeacher.co.uk
PS. By the way, I’ve rewritten and updated my best-selling e-book, The Successful Property Investor’s Strategy Workshop, which is an account of how I put together my multi-property portfolio, starting from scratch and with no money of my own, and how you can do the same.
For more details please go to:
https://www.ThePropertyTeacher.co.uk/the-successful-property-investors-strategy-workshop