Frequently Asked Questions
Q: What’s the least stressful way to get into property buying with limited money?
If you are new to property investing, you should to acquire the skills and knowledge first. You need to start from assessing your current skills/ knowledge, and attend some free training to start with in order to address your knowledge gap. There are three major skills you need in order to achieve success: evaluating a deal, negotiation and raising finance. By learning how to negotiate the deal, and learning how to get into a partnership or raise finance, you will then be able to avoid costly mistakes, and achieve success.
An additional way is probably to find a partner who you can work with, or do some sort of rent-to-rent; where you’re leasing properties from another landlord, and sub-letting rooms out. If the opportunity came to which you could do a Joint Venture with landlords, perhaps you could source properties for them, and then get into it that way, using their money.
Q: How would you recommend finding investors for JV during the lockdown?
There are many different places you can meet likeminded people. You can attend business networking event, local property investor network through Facebook, or connect yourself through a LinkedIn network. Many of these groups are online, so accessible no matter the circumstances. Physical local or national property investing events are also great to attend, once restrictions ease. Sometimes attending free property training and events is also a great way to get to know other property investors and potentially form a JV partnership.
Online is the perfect place to find investors, especially given the current circumstances. Facebook, Twitter, Instagram. LinkedIn are perfect platforms to meet potential like minded investors!
Q: Is there anything we can do to help with the communities?
We have launched several Facebook Communities where you can openly join and connect with other like-minded property investors:
Please feel free to take the opportunity to network and connect with other investors, contribute to the community and learn from each other!
Q: How many lenders are withdrawing from the market? How temporary do you see this?
The lending landscape in the UK changes constantly. This is a constant situation because lending as a business means that they need to adopt to meet the ever-changing customers needs and demands.
In order to get lending and funding to support your property investing, there are a few conditions: 1. Your credit rating 2. Your income from either job or other income 3. Amount of money you need and how fast you need them. Based on these different conditions, there are various ways that you can raise funding from different types of lenders, residential, buy to let mortgage lender, to bridging loans, to commercial lending, or short term business loan etc.
The best way to go about this would be to find and talk to a good broker who has access to the whole marketplace so that they can provide you with the best professional advice accordingly to meet your requirement and business needs.
Q: I’m a deal sourcer. What actions would you take in the next 12 weeks? Building my investors list more. Wait for the market to drop, and be ready to snap at deals?
Deal sourcing is a very labour intensive job, not quite property investing. If you are sourceing deals for other investors, you need to develop basic skills first, like understanding the local area. It is challenging to understand specific local area unless you have been investing yourself in that particular area. Although there are systems in place that you can follow, but knowledge and experience are important.
For high cashflow property investing with good return, you need to firstly identify where you wish to invest or source deals, and then do a lot of research with agent or using online portal. You will also need to negotiate with agents and landlords to get below market properties from motivated sellers.
Property markets changes based on the economic cycle, and you need to understand the opportunities in your area in order to seize opportunities, therefore if you know how to negotiate and find deals, you should buy now and wait later. Don’t wait to buy property when its drops.
To understand how this works, you can order free tickets to attend our online workshop where we explain the Property Market under Property investing – How to Buy 10 Houses in 10 Months online workshop.
Another important thing, is that you need to build relationships with local agents and landlord in your area, find motivated seller, attend relevant trainings to gain skills and knowledge as much as you can to achieve success.
Q: If you’re starting out on property now, what strategy would you consider, and when?
There are many different types of property investing strategies you can get started. Single buy to let, HMOs, serviced accommodations, Rent2Rent, housing association, nursing home, commercial properties etc.
If you’re inexperienced, you would want to gain training first, then make decision based on the demand in your area, seek advice from your coach or mentor, before you choose a specific property investing strategies.
Learn as much as you can. Go online. Go on webinars. Make contacts. You can book FREE online workshop to gain more knowledge and understanding about different strategies.