Enhanced Transcribe:
Hi folks, Dr Ro here. Hope you’re well.
I wanted to talk to you briefly, for those of you would be property investors, or currently property investors, I just wanted to share with you that there’s a lot of changes happening right now.
The government is obviously stepping in to try and support people buying properties because there’s been a little bit of an emotional step back. People are breathing in, just checking the situation, there is fear driving one side and greed driving the other and fear seems to be the primary emotion out there at the moment.
Every time there is some sort of recessionary experience every time the economy takes a dip down it’s always a massive, massive opportunity.
Unfortunately, if you’re somebody that has aspirational ideas to build a portfolio for example, you’re going to be surrounded by people like this.
This is a crab that can sometimes sit on our shoulder and that will often be somebody that you’re close to a family member. It could be your partner, mum, dad, brother, sister could even be your children who are older and may have a different view to you, but the reality is there’s opportunity ahead. In terms of the government space there are huge amounts of funds being made available to help people in regeneration areas.
Landlords going to the table looking for grant money, definitely long-term government schemes available, opening up more than they were before. And those rates appear to be higher from what I’m seeing in certain areas, which means you might have for example a buy to let property up to 600 a month but you might get 700 if it is a council property where they need to fill it or it might be an HMO producing 12, 1300, but the council and the local housing association might give you 1800. There are opportunities with asylum seekers, there are sellers that are distressed that want to sell but can’t sell or sellers that may be open to doing something more creative with you.
There are landlords that want to sell portfolios because they just want to get out the market and don’t want to renovate those properties but do want to sell. There’s lots of opportunities and whilst a lot of people are fearful, Warren Buffett says be fearful when others are greedy and greedy when others are fearful.
There is a great opportunity for this.
If you’re an existing portfolio landlord I will look at what you’ve got in the portfolio right now, are there properties you’re concerned about? Go talk to local governments to see if there is anything happening on the ground, vulnerable tenants, charities, local councils, asylum seekers are certainly opportunities there. If you’re looking to sell property think about why you might sell.
If you’re looking to sell to liquidate some cash, great if it’s just because you’re nervous, just think again and maybe look at alternative strategies in that area. Lease options is another strategy I think will come alive.
If you’re not aware of it it’s a great strategy where you have the right to buy property, and there are many others. What I’m saying is for a lot of people that have been pausing and wondering should I, shouldn’t I?
I think now is a great time.
Dr Ro signing out.
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