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  • Property-a-holics

    No money down deals - de-bunking the hype

    investor

    noun [ C ] UK  /ɪnˈves.tər/ US /ɪnˈves.t̬ɚ/

     person who puts money into something in order to make a profit or get an advantage:

    ------

    My point here being you need money to invest with.

    Any who tells people otherwise is lying.

    For those who don't have money to invest with, there's no shame in it, but focus on rectifying that by making some money first (i.e. career change/development or start a business) rather than attending courses selling a dream.

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    In 2019 you need more cash in your pocket to play this game of Monopoly

    Even in the NE of England you need around 30% to do a deal.  For the lucky old landlords with equity, a remortgage is still an option but it’s not an option I will use

    Go the old fashioned way - save the money for a deposit and taxes and then buy on a good yield and, if you really want to be safe, fix the mortgage for a long period and if you can afford it go capital and repayment.

    In ten years your mortgage will be a third lower than when you borrowed with a bit of capital growth and you will be sitting on a low leveraged investment

    Repeat the deal over and over again and you will become rich

    This is my intention - no more re mortgaging for me  !

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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.


    ``Go the old fashioned way - save the money for a deposit`` 

    Not sure that was ever the old fashioned way as far as BTL is concerned

    Remortgaging to expand has  been around since 1996 so getting old fashioned now

    And that works well still  - just not as easy as it was

    Releasing equity from a main ressie is also old fashioned now but still works admirably

    But your C&R mortgage on top of no growth leads to a virtual standstill  in expansion in my view

    Unless you are happy  to wait 30 years to buy 3


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    Jonathan Clarke. http://www.buytoletmk.com


    I think it will take new landlords a much longer time span to achieve there goals in the future

    PRA and taxation  will slow them down

    personally I would not capital raise via a mortgage

    and if my guess is right Property prices are stagnating or falling

    if that’s the case remortgage is difficult to do

    the cash rich landlords in my opinion are going into a golden period of buying high yeilding properties 70% or 75%  LTV will work well  via a company with company advantages

    or in a landlords own name if they are a basic rate tax payer in effected by s24


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    Learn Change and Adapt ?????

    All comments are for casual information purposes only. If you wish to rely on any advice I have given please ensure you obtain independent specialist advice from a third party. No liability is accepted for comments made.


    @Tketa_Kev and @JGwilliams - congratulations!  You are our winners of the two copies of John's book.

    If you could email me your name and address to vanessawarwick (at) icloud.com , I will get them in the post to you.

    Also, John is running a seminar in London this month for those who are interested:

    Recommended property training - John Howard

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    Hi, I didn't know there was a competition brilliant thank you - I have read the 'sample' on my Kindle so good I didn't buy it Smile

    Kev

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